Carol Plaisier

Saving For Retirement.

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I’m an Oceanside investment and insurance advisor with over 30 years of financial service experience. I specialize in helping women through periods of transition: divorce, losing a spouse, preparing for retirement and women who steward the family finances. I believe the more you understand about the investments or insurance that you own, the better you will be able to sleep at night without worrying you will end up a ‘bag lady’ on the streets. Many of my female clients have questions regarding various aspects of their financial security and you may have some of the same questions and interest.

Women typically earn less than male counterparts for similar positions, often spend a number of years out of the work force to have and raise children and women also have longer lifespans than men on average; so how do women save enough money to have a comfortable retirement?

Here are some top tips to achieve this goal:

1) Take control of your finances, be an active participant in managing family finances, do not leave the financial decision making to your spouse. Educate yourself about investing and money management, don’t rely on someone else to provide your financial security. Don’t be scared to talk about money with your spouse. It is very important, especially if you have opposite spending habits (saver vs spender).

2) Know and understand your risk tolerance – consider how much risk you are willing to take in exchange for the potential to earn higher returns. Guaranteed investment certificate rates are very low; so low that you are not keeping up with inflation and the purchasing power of your dollar declines every year.

3) Invest more, do not count on CPP or OAS to provide a comfortable retirement. The secret to creating wealth is spending less than you earn.

 4) Always be conscious of your debt load and reduce spending where possible.

 5) Participate in employer plans – if you are one of the lucky ones where your employer matches contributions, maximize your deduction.

6) Take advantage of tax planning; registered plans, including the TFSAs (Tax free Savings Accounts)  allow you to enjoy the benefits tax free compounding over time.

7) Get help – a qualified financial advisor can develop your financial plan, or can help you stay on track. Don’t let the fear of losing money or fear of the unknown stop you from investing.     

Your financial security depends on your attitudes towards money and your commitment to taking your financial future into your own hands.

Take charge of your financial future in 2017, call an advisor today!

 

Seniors home care, care facilities,RV parks B &B, Churches, Brew pubs, craft breweries, vineyards, distilleries, Pets BC. Seniors 101, Island Voices promoting the products and services available for seniors on Vancouver Island. Seniors 101 lifeline. Snowbirds. Employment. Politics. Vancouver Island Now. Island woman magazine.For further information, Carol Plaisier, CFP®, Investment Advisor with HollisWealth, a division of Scotia Capital Inc. & Insurance Advisor with HollisWealth Insurance Agency Ltd. can be reached at the HollisWealth office in Parksville (250) 248-2399, or by email carol.plaisier@holliswealth.com     www.carolplaisier.com

 

This article was prepared solely by Carol Plaisier who is a registered representative of HollisWealth® (a division of Scotia Capital Inc., a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada). Brokerage services provided by HollisWealth are provided through Scotia Capital Inc. Insurance products provided by HollisWealth Insurance Agency Ltd. The views and opinions, including any recommendations, expressed in this article are those of Carol Plaisier alone and not those of HollisWealth. ® Registered Trademark of The Bank of Nova Scotia, used under license.

 

 

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