Published on: Monday, February 3, 2025 Years ago I was speaking with the father of one of my close friends. He had been having health problems and I asked him how things were going. He said that he had an appointment with a cardiologist the following month but he didn’t think it was going to help him. I asked why and he said, with his Italian accent, “I think he’s going to be a shoemaker”. Now, for those who are … Continued
Published on: Wednesday, November 6, 2024 In a television commercial for an electric power generator you can purchase for your home, an actor tells us “the number one thing to prepare for is a power outage”. Really? Number one? Perhaps that’s true if you live in an area where power is precarious and you rely on it for more than just lights and appliances. It might run your well or heat your home as well. But for most of us, … Continued
Published: Monday, September 9, 2024 Last time, I introduced you to Joe, the “retired” electrician who now operates a coffee and gelato shop in downtown Toronto. Now, I want you to meet my Aunt Virginia. Whereas Joe tried retirement and decided it wasn’t for him, Aunt Virginia has never even considered it. She’ll be 90 years old early next year, and she still works full-time as the director of the fundraising arm of a Catholic charity. Aunt Virginia easily looks 20 … Continued
Published on: Thursday, July 4, 2024 Continuing my exploration of retirement, I want to build on my last two blogs and introduce you to my friend Joe. He has a less common approach to retirement. And he has some terrific insights which he has graciously shared. Joe is an interesting guy. He is 70 years old and worked as a self-employed electrician for 40 years. He retired from that about 10 years ago. He’s well-read, reflective and philosophical. He loves … Continued
Published on: Tuesday, June 18, 2024 Last time I talked about people in their 50’s with busy careers who are getting tired and are starting to see the finish line. Today, I’ll tell you about someone who crossed it recently and the unexpected impact it had on him. Most people expect their life to change in positive ways once they retire. That usually means having more free time to do the things they always had to reserve for evenings, weekends … Continued
Published on: Wednesday, May 29, 2024 I’ve noticed a trend in my practice. I’m being approached very often by people in their early-mid fifties with senior-level jobs at big companies asking me to look at their financial plan with a view to making change. “Change” doesn’t necessarily mean retirement, though the most powerful financial driver for serious change is knowing that you can afford to pack it in all together. Here are the circumstances and what they most often have … Continued
Published on: Wednesday, May 22, 2024 I’m a huge fan of NCAA basketball. Every year, I get consumed by the excitement of March Madness, the 64-team tournament that determines the national champion. Over the past two years, the women’s games have enjoyed more coverage and attention. As a fan of the game, I’m thrilled because the women play a purer version, in my view, with outstanding passing and exceptional shooting. The biggest star of the women’s game has been the … Continued
Published on: Thursday, November 2, 2023 If I ever write another book, and I hope to, it just might be about how our homes fit into our wealth plan and our retirement. I find that once people retire and feel comfortable that their finances will support their lifestyle, the next most important thing on their mind is their home. And once that is sorted out, the last piece is their estate. Often the two – their house planning and their … Continued
Published on: Wednesday, October 18, 2023 Years ago, my aunt and uncle spent time in a retirement community in Florida with a couple much older than them. “How was it?” I asked. “No one there buys green bananas!” my uncle exclaimed as a way of pointing out that he was younger than most people there. These days, I find that way of thinking taking over the minds of many of my clients. It becomes noticeable when we are considering investing … Continued
I’ve mentioned many times that one-third of my clients are women on their own. This gave me insight that made it possible to write When the Picture Changes. Generally, women live longer than men and women are more likely to be on their own in retirement. But over the past two years, several of my male clients have lost their spouses. I’ve noticed that they face different challenges than women in adjusting to life on their own. I don’t think … Continued