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Retirement Planning

Overview: Retirement has changed greatly in recent years as people choose to retire earlier than 65 or, in some cases, are asked to retire, while at the same time generally living longer. This means that whereas retirement used to be a brief period toward the end of one’s life, now retirement is considered a period that can be very meaningful as a major phase of our lives. Especially with the influx of baby boomers approaching retirement, the traditional paradigm of “smelling the roses” has changed. People are more vital and want to remain so for as long as possible

This 2-day program assists people in getting in touch both with their financial needs as well as their most important values, motivators, and interests, and ensures alignment with these elements as the individual transitions. This includes the OPS attendees as well as their guests (“significant others, etc.).

This course recognizes the diversity in society and the differing lifestyle and living arrangements that participants may have.

Intended Audience:
Employees and “significant others” typically within 5 years or less to retirement.

Duration: Two Days (One Day Financial; One Day Lifestyle)

Methodology for Delivery: Highly interactive allowing participants the opportunity to interact and learn with others both one-on-one and small group. Respectful of both the OPS attendees and their guests. Lots of exercises and discussion, based on adult learning.

Learning Goals and Objectives:

  • Learn why the need to plan one’s finances exists
  • Where one’s retirement income will come from
  • What one will financially need at retirement and how to prepare a plan to assess whether there is enough and how to overcome any shortfalls
  • The keys to investment planning in retirement, including risk tolerance, asset allocation, portfolio construction, and related issues such as liquidity, compounding, and diversification
  • Keys to tax planning including RRSP’s, RRIF’s, annuities, and tax-assisted investments
  • Fundamentals of Estate Planning including wills, power of attorney considerations, avoiding probate tax and insurance issues.
  • How to assess their “psychological” readiness for retirement including ways to ensure a smooth transition
  • How to identify key values, needs, interests, motivators, and de-motivators as well as evaluate how well these will be met in retirement (including ways to enhance to ensure a more satisfactory retirement)
  • Key health and wellness issues which need to be explored to ensure proper physical and emotional well-being
  • Role changes and how to adapt
  • Myths and realties about retiring today (2005 – 2010)
  • 2nd and even 3rd career options, and how to access

Expected Results:

  • Increased understanding of the key factors, both financial and lifestyle, that need to be considered in making effective retirement decisions
  • A plan which integrates both financial and lifestyle data, along with goals and steps to move the retirement plan forward.
  • Clarity on what is most important to both self and significant others in terms of goals, values, motivators, interests and needs
  • Increased confidence in making the transition in a way that ensure the continuation of vitality and contribution
  • Increased knowledge of all aspects that contribute to retirement success including health and wellness, new roles and even 2nd careers