Toronto, CANADA – After the sudden passing of her husband, Marjorie found herself faced with the daunting task of managing her finances. With her husband being the one responsible for handling their investments, Marjorie expressed feeling overwhelmed and fearful about how to navigate the portfolio he left behind.
Concerned about ensuring her financial security, Marjorie sought guidance on strategies for managing her savings, making withdrawals, and understanding the tax implications. With her pension, Canada Pension Plan, and Old Age Security benefits falling short of her lifestyle needs, Marjorie recognized the importance of smart investing to bridge the gap.
Financial planner Warren MacKenzie analyzed Marjorie’s situation and offered reassurance that, given her modest spending habits, she should have sufficient funds to sustain her lifestyle well into her later years. With careful consideration of investment options and risk tolerance, Marjorie could potentially secure her financial future until at least age 90.
As Marjorie approaches retirement, she faces decisions about her investment portfolio, including the choice between managing it herself or seeking the assistance of a financial adviser. With the goal of ensuring her financial stability, Marjorie explores various options, such as purchasing a life annuity or investing in income-for-life funds to provide longevity risk protection.
Mr. MacKenzie highlighted the importance of balancing risk and return in Marjorie’s investment strategy, emphasizing the need for a goals-based approach to financial planning. By considering factors such as investment returns, inflation protection, and potential market volatility, Marjorie can make informed decisions to safeguard her financial well-being in the years to come.
With careful planning and strategic investment choices, Marjorie can rest assured that she has a solid financial plan in place to support her needs as she enters her retirement years. By taking proactive steps now to manage her savings and investments, Marjorie can enjoy financial peace of mind and focus on living a comfortable and fulfilling life in her later years.