Providing value to today's retirees U.S EDITION SO YOU THINK YOU - - PowerPoint PPT Presentation

Providing value to today's retirees

U.S EDITION

SO YOU

THINK

YOU ARE*

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min,

RETIREat

What you REALLY want to know before you take the leap!

• RRY LAVALLEY • MARK FINKE

ANNUAL RETIREMENT ISSUE

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Am I

Ready To

Retire?

Five things we want to talk about today

1.

Some myths and misconceptions around retirement

2.

Aging issues every advisor should understand

3.

A woman's retirement

• 4. Best practices of retirement advisors

5.

Ten steps to bulding a retirement practice

"I always hoped retirement would look like this."

The Myths and Misconceptions around retirement and aging

"I always hoped retirement would look like this."

"Retirement is the longest stage

• f your life!"

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3 to -1 Time (in years)

Retirement Stages

Stress Routine Reorientation Contentment

Excitement

Honeymoon Disenchantment Retirement date

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"Retirement is 300 golf rounds a year!"

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• Important retirement issues

Did you know?

77% of Canadians over 65 have at least one chronic condition (Sun Life) 90% of your lifetime out-of-pocket healthcare expenses come in the last ten years of life (Sun Life)

38% of those surveyed in a 2014 Harris poll said that they haven't discussed retirement health-care costs with a financial adviser, in part because they are unsure as to whether their adviser is knowledgeable about the issue

1.

Will it be there when I need it?

• 2. How much will I get?
• 3. When should I take it?
• 4. What can affect it?
• 5. Do I have to stop working?

• 1. Make caregiving part of your client

conversation 2 Develop relationships with resources in the community

• 3. Help family assess the costs of caregiving
• 4. Work with other professionals such as

elder law attorneys or CPAs to provide the client or family with a coordinated support plan.

Did you know?

Likelihood of needing Long-term care in Canada (Sun Life):

Age 55-10%

Age 65--30% Age 75--50%

Retirement homes-$1500-$6000 mo Avg $3236 Private home care--$500-$7500 mo

• Govt. assisted care (Manitoba)--$988-$2311

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Settling into Retirement lifestyle

55 65 75 85 95

Perception Expected drop with age

Reality

Healthcare Expenses

A look at retirement spending over time

Retirement Anticipation

Expense level

National Committee to preserve Social Security and Medicare, 2015, using numbers from CPI-E

Mental Accounting--the four bucket approach

tS

als Emergency

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Lifestyle Nest Egg

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I need an advisor who truly "gets me" and the needs, concerns and opportunities that I have in my own retirement. Are you the kind of advisor who can relate to some of those issues that I may face as I get

• lder?

The Loring Ward 360 Retirement Advisor...You have it handled!

A woman's retirement

Longevity Caregiving

Life on your own

Financial literacy Family and lifestyle

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The professional support team they create

Your Elder-Care Team Elder care attorneys (Trust and Estate, Medicaid and Guardianship Conservatorship) Geriatric Care manager Licensed Psychologist, Neuropsychologist Home Health Service Providers Clinical Social Worker/Gerontologist who can be helpful in assessing capacity Fitness and nutritionists who specialize in elder issues Elder-housing, moving support

The way they position themselves

Do You Know How Much Your Retirement is Going to Cost? If not...We should talk!

At ABC Wealth Management, we believe that your retirement plan should reflect the life that you want to live. Our 360 Retirement Visualization process will help you plan for the unexpected and expected issues that you will likely deal with as you live your retirement life. Give us a call if you are looking for a common-sense approach to your retirement plan! We will show you how to tie your money to your life!

ABC Wealth Management 201 Main Street Anytown, St. 250 555 1212 www.ABCWealth.com

Planning your next adventure....Retirement!

We will give you a whole new way to plan for this next phase of your lifer

"I need a financial advisor who understands that my retirement is more than just money"

Let's sit down and talk...

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So You Think You Are Ready for

RETIREMENT?

We would like to invite you to a special private conversation with North American Retirement expert Barry LaValley Barry has just published his new book for Australian boomers entitled "So You Think You are Ready to Retire?" In this presentation exclusively for the clients of Principal Edge, Barry will share his insights on

• The myths and misconceptions around retirement
• How to prepare your mind for retirement
• Some things to think about as you leave work
• New research on the retirement happiness
• How retirement affects relationships
• Retirement lifestyle issues that you may not have thought about!

Wednesday October 22 from 6PM to 8PM Principal Edge Boardroom: Level 3, Bay House, 2 Guilfoyle Ave, Double Bay Refreshments will be served As seating is limited, please RSVP to our office at 9363 2900 at your earliest convenience

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The Discovery Process they use

Some retirement financial issues

Helping and Protecting Family Protecting and enjoying lifestyle Achieving Financial Comfort Helping Children

Replace Income 1 Building and Protecting

Nest egg Assisting Parents

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Family Security Regular Paycheck

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Enjoying Lifestyle

Personal Health Pay Less Tax Education

Long-Term Care

Saving for Future Health issues Protecting Business

Freedom and Independence

Plan for Expected and unexpected

Building a Legacy Clarifying Vision Wills and Instructions Health Challenges Preserve legacy Manage Change Directing legacy

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Giving to Charity Lifestyle Enjoyment 1

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Living Legacy

A lot of times,

people don't know what they want until you show it to them.

Steve Jobr

the peopleproj ect torn

Ten Steps to being a retirement advisor

r tcu a e a value proposition that focuses on retiremen

• 2. Build a team of experts in your community
• 3. Adopt a discovery system that focuses on life issues
• 4. Incorporate your value proposition into your marketing material,

web site etc.

• 5. Build a library of contact numbers, resources etc

6.

Adopt an income based planning approach

• 7. Develop a center-of-influence strategy
• 8. Conduct a client rediscovery program to introduce your value to

present clients

• 9. Build a client education program based on aging issues
• 10. Become a resource in your community