Helping retired clients balance dreams and needs
Advancing age and the challenges it brings can allow you to assist older clients with major life events, such as illness and loss
Investment Executive, Megan Harman
Aging and retirement is a dramatic period; even the most cursory list of major events ranges from declining health, to the loss of friends and spouses, to key lifestyle decisions about the final decades of life. All of these events involve money – and this is a phase during which financial advisors can become particularly helpful to their clients.
In fact, addressing the economic changes associated with aging is an inevitable part of financial planning, retirement experts say. “I don’t think you can avoid it,” says Cynthia Kett, a chartered accountant and certified financial planner with advice-only firm Stewart & Kett Financial Advisors Inc. in Toronto. “I really believe that an up-front look has to be done to anticipate some of these things that are going to happen.”