Darren Devine, CFP®, CLU®
Financial Planner, Sun Life
President of Devine and Associates Financial Services Inc.
Darren here, today let’s talk about the keys to a successful and secure retirement.
Retirement isn’t just about having enough savings—it’s about having a solid plan that supports your lifestyle, protects your wealth, and helps ensure long-term financial security.
First, know your number. How much do you need to retire comfortably? Factor in your expenses, potential healthcare costs, and inflation. A financial planner can help you calculate the right target.
Second, diversify your income sources. Relying on just one stream, like CPP or your pension, isn’t enough. You need a mix of investments, savings, and possibly annuities to create reliable cash flow.
Next, manage risk wisely. As you approach retirement, shifting your investments to a more conservative mix can help protect against market downturns.
At the same time, ensuring you have the right insurance coverage can help safeguard your wealth and protect your loved ones.
Finally, plan for the unexpected. A well-structured estate and tax plan helps ensure your hard-earned assets go where they’re intended—without unnecessary costs or stress for your family.
Retirement is a journey, and the best way to navigate it is with a clear, adaptable plan. Let’s get you there!
Thanks for tuning into Money Monday. Don’t forget to like and comment for more episodes filled with tips to help make your financial journey a breeze. Until next time, I'm Darren Devine, and you can always talk to us today at DevineAndAssociates.ca!