“If you haven’t done any retirement planning,” says Cynthia Kett, advice-only financial planner at Toronto-based Stewart and Kett Financial Advisors, “this is the time to do it, in your 60s.” When transitioning into retirement, Kett “strongly” recommends that individuals do what’s called an investment policy statement.
Morningstar, Vikram Barhat How to decide? Cynthia Kett, a principal with the advice-only firm Stewart & Kett Financial Advisors Inc. in Toronto, suggests considering your mortgage rate on a pre-tax basis. “If you’re in a 50% marginal tax bracket, your pre-tax mortgage rate would be double your stated rate,” she says. “A 2.5% mortgage rate