Getting retirement ready in turbulent times
Morningstar, Diana Cawfield
For many pre-retirees or those entering retirement, the repercussions of COVID-19 and market turbulence have added new fears to their financial future. Yet this is the very time for these investors to carefully prepare for the future.
Ideally, that preparation should have begun earlier, according to Cynthia Kett, an advice-only financial planner at Toronto-based Stewart and Kett Financial Advisors. “Hopefully pre-or-early retirees would have done some retirement planning that would have helped them to know what their cash flow needs would be for the first years of retirement,” she says.