At all stages leading up to retirement—from decades to mere years and months before—we may worry if we are going to be able to retire comfortably. Simply put, starting earlier is always better. But wherever we may be in that planning stage, we must identify the primary challenges and barriers that are either preventing us from moving forward, or paralyzing us with fear. Only then can we identify the solutions to achieving a fulfilling retirement.
Planning Inertia
The first step is always planning. Having confidence in ourselves that we will achieve our goals is not to be underestimated. That confidence is so crucial to the comfort we seek in retirement. Those of us with formal plans for generating retirement income and savings will feel more confident from the outset.
Obtaining professional services to help put in place, monitor, and adjust such plans also increases confidence. Having an investment advisor can help paint a clearer picture of what to expect and facilitate a finely tuned—at times complex—plan to best suit personal needs.
This all sounds great, but there are several reasons planning is not always prioritized.
It can be extremely difficult to balance long-term, retirement-related needs with more pressing financial realities. Furthermore, it can be daunting to research all of the products and options available on the market and determine which would best address our specific retirement needs.
Starting early is the best idea. And with a professional investment advisor, we can start planning for retirement to ensure that we will have what we need upon retiring, and that those goals can be reached in conjunction with present needs.
It’s Never Too Late
Despite the feeling that it might be too late to start saving for retirement, it never really is. Every little bit helps, regardless of age and income. Now is always the best time to start. Shame, guilt, or frustration will only stall us longer. The best idea is to move forward.
Competing Priorities
We already have day-to-day living expenses, and have to save up for a car, a down payment on a house or condo, a vacation, children’s activities, college, and manage credit card debt. So how can we save for retirement too?
It is difficult to justify something so far in the future when all of these things are happening now. But the someday of retirement will come soon enough, which is why, once again, an approach that takes into account a larger plan is the way to go to help us through all stages of life. The question is: who can we trust to help get us there?
Rothenberg Capital Management has been helping Canadians plan and manage their retirement savings for 40 years. Our advisors are salaried and have state of the art systems and administrative help so they can give their clients expert advice for now and for the long range. They will guide you to maximize opportunities at every stage of your life, beginning with questions such as:
- How much income will I need to live comfortably at retirement?
- What should my annual savings be now so that I can reach my retirement goals?
Let’s get started with a FREE consultation without obligation on your part.
To schedule an appointment, call our office (Montreal: 1.800.811.0527, Calgary: 403.228.2378), or click here.
