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BMO Nesbitt Burns
132 Trafalgar Road
Oakville, ON
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LifeStages 5

A guide to financial planning for every stage of life - specifically designed for women.

LifeStages identifies key investment issues and challenges for each of life's five financial stages. Going forward I will highlight each stage with a brief case history designed to help you to better understand sound financial planning principles. Please check back often to review each stage.

LifeStage 5 (Ages 66 and over): Post-Retirement

Case Study: Ann
At 69, Ann never realized that living the good life in retirement would have so much to do with managing money. While she had always been the designated money manager in her household (her husband, Hank, is "artistically inclined" and avoids the issue), the financial-planning burden that came with retirement was far greater than she had imagined.

Ann and Hank spend a couple of months each year in their retirement home in the sunny south. They are both in excellent health and are drawing, for the most part, on Hank’s pension. On top of ensuring that they don’t outlive their savings, they want to be sure that they have something to leave behind for their children and grandchildren.

One issue that shows no signs of disappearing soon is the fear many women have of retiring poor – a fear that is not unfounded given the statistics on the number of older women living below the poverty line." ~ Globe & Mail

Things to Consider
LifeStage 5 is definitely the time when you want to kick back, relax and enjoy the fruits of your labour. You’ve earned it! From a financial-planning perspective, your retirement years will focus primarily on managing your retirement savings and planning the distribution of your estate after you die. Money management in your post-retirement years is critical – especially if you are no longer working and earning an income. You will be spending money and you won’t have a traditional paycheque. You have to be sure that your investments will provide you with an income that suits your lifestyle. Here are some things to consider.

LifeStage 1
LifeStage 2
LifeStage 3
LifeStage 4

* Fictional characters. Any similarities between them and actual clients of BMO Nesbitt Burns Inc. are accidental.