7 Things To Do Before Retirement

[@maryslapsys5141]

Haha I watched Adam's video last week too. It's good to have different perspectives. Retirement is such an individual thing. How do you pull the trigger with any sort of confidence? Most people I know in that state have had retirement planning on their minds for some time and are well prepared. For those of us that had 'situations' arise, or have not planned as well for the current economic climate, the struggle is real.

[@dadaustin4570]

Adam was the one that recommended I check you guys out. Glad I did!

[@K4Financial]

Glad you did too

[@workingbulldogs]

Thank you very much for the video. I’m 52 and planning to retire some time in 2024 at the age of 53 with 30 years of service, DB pension plan , no debt and some cash and investments. Videos like this and Adam’s have been very helpful. Retirement definitely plays on your psych! Lisa .

[@K4Financial]

Nice early retirement. Good work

[@workingbulldogs]

@@K4Financial thank you. I am fortunate to have a DB pension that allows me to retire with full pension and bridge to 65 with only 30 years of service.

[@pwong0227]

Thank God I am retired for last three years. Your information is helpful....❤❤ First year was tough to transition so i travelled and got stuck six months in India as I was caught in the midst of Covid-19 travel restriction.

[@629990]

Yup I'm with Ciena now following being bought out as part of the optical division of the former Nortel. I had a sunlife plan with Nortel and now have one again with sunlife as part of Ciena. But during the Nortel bankruptcy sunlife coverted the old Nortel plan to its group choices plan. The corporate mers under both the Nortel and Ciena plans are great. 0.5% on average but the group choices are much higher. When I retire I will move my fund out of Sunlife. because of the fees. I'm this is still 4 years out but I'm looking at options for where to host my investments post retirement.

[@terryevp4084]

Thanks very much Kent for these great video's...!!!

[@K4Financial]

You’re very welcome Terry

[@nanci6134]

Clear concise and true to this crazy world Thank you for sharing your knowledge!

[@K4Financial]

You’re welcome

[@johnnyboyvan]

Retired at the end of June. Amen 🙏 57 with a DB pension and a bridge til 65. No debts and own my condo in Vancouver. 😊😊😊😊 Now I have to learn to spend instead of save in TFSAs and RRSPs. No estate plan yet...on my own.

[@K4Financial]

Congrats! You’ll want to get a will, POA and personal directive. They all could become very important depending on how your life goes.

[@sharontabor7718]

Well, I've always been frugal, I took a HELOC out many years ago with the intent of buying a business (which didn't happen). I have never had company benefits so I already have a health insurance policy that will supplement Medicare, already have a will and power of attorney, substantial cash savings, and 2 investment companies I trust to handle my Roth, annuities, and stocks. I guess I'm ready to walk out of my job in 6 weeks.

[@paulpoco22]

You forgot: On your work extended health & dental. 1) get any major dental work done 2) do you need a new CPAP machine? 3) just basically check out your employer plan and use all the benefits before they end. Your Pension might have Extended Health & Dental: 1) the dental plan is terrible and you are basically paying more if you got nothing wrong with your teeth. Self fund, if the dental plan is $125/month just self insure by putting that amount in a HISA every month ans when you go to the dentist for cleaning just withdraw that amount from the HISA.

[@K4Financial]

Good point. May as well max out anything that you can

[@malcolmbennett3555]

Hi Kent, are you guys in the Calgary area?

[@K4Financial]

We’re remote, so not really but I personally come to Calgary for meetings fairly regularly. Not so much post Covid

[@malcolmbennett3555]

@@K4Financial ok thanks, looking for a FP in the Crossfield area North of Calgary.

[@mattsheehan843]

Kent, those 30 year olds are watching for your jokes/wit too, not just the financial wisdom 👍

[@netblue]

All good points ,especially 1,2 and 6. I will agree to disagree on Sunlife funds ,I found them to be terrible , easy 3% less than similar funds on other brokerages. That segregated funds insurance must come from somewhere. So any company plan I would move out as soon as practical . If not segregated I would look to see if there is any vesting and move the money into a personal RRSP. I follow Adam as well and while expensive his financial plan is worth it for those not familiar with Excel formulas ,data forecasting and taxation levels. Maybe you should look into it and see if you can offer a scaled down version ,or a review of a DIY plan for your favorite fee of $500 😂

[@Ian-of9oi]

How often do retired people come to you saying they are out of money and they retired too soon? I’m not in that boat but I know it happens.

[@K4Financial]

Not as often as I know it’s happening Problem is, once they’re out of money, there’s not really much we can do to help

[@murraytown4]

Or HELOC=Home Equity Line of Credit

[@K4Financial]

Isn’t that what I said?

[@629990]

30 year-olds just watch for your dead pan delivery...