Advisor.ca, Philip Porado
When the credit crisis swelled a year ago, the first phrase on a lot of clients’ lips was, “What will this mean for my retirement?”
A year later, investors have reached something resembling acceptance, with many advisors being told clients plan to remain in the workforce an extra year or two, or will be adjust their spending projections for retirement. And, in some cases, clients who already had retired have told advisors they’ll be returning to work.
“There is a lot of Internet software that can give someone who’s 10 years away from retirement an idea as to whether they’re on track,” Cynthia Kett, CA, CGA, RFP, CFP, Stewart & Kett Financial Advisors Inc., Toronto, told our annual Dollars & Sense roundtable. “But for somebody on the threshold of retirement, I do believe they need to take a hard look at their personal situations and understand how that might unfold for them.”