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Case Study: Katrina
Katrina may be 64, but her friends say they can’t remember a time when she was more active and alive. That may be surprising, because it was only two years ago that her husband, Tony, died suddenly – leaving Katrina at the lowest point in her life. She had a lot to deal with, but managed somehow. Now, she travels with friends and spends a great deal of time with her three grandchildren. Financially, Katrina is poised for a happy retirement – which is ironic, because investing had been a foreign concept to her. But, after Tony died, Katrina met with his Investment Advisor and became fully involved in the investment-management process. Taking an active role in the shaping of her financial future has contributed to her growing feelings of security and happiness.
Retirement Income: Katrina's Checklist
Working with her Investment Advisor, one of Katrina’s first steps was to establish a list of all of her sources of income. The methodology applies to anyone:
We can help you select appropriate investments based on the following key elements: – RRSP Investments – begin to shift towards a balance of current income and stability of principal, while still allowing for some capital growth to provide inflation protection. – Non-RRSP Investments – current income and stability of principal should be weighed against capital growth, depending on your overall income needs.
Things to Consider
If you haven’t done so recently, now is the time to take a close look at your retirement plans so that you can close any gaps between the retirement income you need and the one you can expect
* Fictional characters. Any similarities between them and actual clients of BMO Nesbitt Burns Inc. are accidental.