Retirement at Last!
"What every +65 retiree needs to know about Money and Leaving a Legacy"
Congratulations! You finished the rat race at last! It only took 43 years to get here but you did it! Time to celebrate, or is it?
You still have the next 25+ years of life to worry about and to somehow live off your accumulated savings. If you haven't yet reached your retirement savings goals, it is too late to do it though the job market as forced retirement may be upon you. Millions of other retirees like you may be looking to continue working and contributing to the marketplace, but have few opportunities to do so as younger workers, automation, and artificial intelligence take the jobs that are left.
If you haven't saved enough retirement eggs by now, you will be forced to consider starting your own business of some kind or you will need to drastically lower your expectations and lifestyle to compensate for the difference. Many of you may be forced to move to another country with a lower cost of living just to compensate.
Hopefully, you have managed to learn the financial lessons of money taught in our previous courses, and you have piled away a nest egg of at least $1.5 - $2.5 million by now. If not, you need to make some serious adjustments to your retirement plan, especially if you are in the bottom half of the success pyramid. What can you do to win now if you have missed the boat or suffered from the latest financial crisis?
If this scenario does not describe you, then way to go, you managed to set yourself up for a better than average retirement! If you do have enough nest eggs in place, you will need to work a budget that will allow you to outlive your money, rather than the other way around. Now let's learn how to preserve what you have worked so hard for and begin to reduce the risks of losing it all in the next market collapse. Losses at this stage of life can be impossible to recoup so safety is the key to your retirement survival. And, you need to focus on leaving a legacy for your heirs.
If you haven't been hounded already, you will soon be presented with many advanced retirement options from all sorts of financial advisors, banks, and estate planning companies eager to get their hands on your life's savings. How do you know what the right options are and who to trust at this major milestone of life?
This next 25+ years of expected retirement from ages 65-90 will be the most radically life-altering phase you have ever experienced as you transition out of the workforce to an uncertain financial future. Yet you will be filled with relief and anticipation, provided you have a proper sound plan to draw down on your life savings, travel, and enjoy your golden years to their fullest.
If you haven't already taken the first five courses in this series, Financial Literacy for Kids, Financial Literacy for Teenagers, Financial Literacy for Young Adults, Financial Literacy for Adults, and Preparing for Retirement, now may be the time to go over some of those basics to understand the concepts we will discuss in this course. As a refresher, it certainly can't hurt to review the key strategies that you may have learned but never implemented. In fact, gifting these lessons to your children and grandchildren can set them up for a lifetime of financial literacy. Feel free to take the retirement literacy test included in the first lecture, to see if you should go back for remedial training before moving on to this course.
What you will Learn
In this course, we will teach newly-retired adults 65+, retirement specific concepts about money including asset allocation investing for retirees, retirement tax planning, debt elimination, stock market insurance and hedging strategies, advanced futures and options, currency allocations, hard asset wealth preservation techniques, precious metals, diamonds, real estate divestiture and downsizing, avoiding financial pitfalls and retirement scams (such as telemarketing and CRA scams), asset protection and estate planning, business succession, and other retirement financial planning strategies. We will even touch on the oft-forgotten and contentious issues of health planning, retirement homes, elder care, powers of attorney, wills, and advance funeral arrangements.
With a 95% financial failure rate by age 65, most people clearly did not learn the secrets of money from an early enough age. With degrees in economics and finance, and loads of financial experience since 1992, I will be guiding retirees to financial literacy. It's never too late to learn, even if you have delayed your studies and investment program until now. Time does not wait for you to catch up, and every day missed is costing you a fortune in retirement. Make sure you log into your account annually and put these accumulated lessons learned into practice!
As a graduate of the University of Calgary, I possess degrees in both Economics (micro & macro) and Commerce (specializing in Finance and Management Science.)
I began a financial planning career in 1992 and served hundreds of clients over the next 5 years. I moved on to the private equity markets where, as VP Finance, I successfully helped raise venture capital for a very unique sports-related training device. Since 1998, I have run several businesses in marketing, branding, fitness, and multimedia.
In 2011, I returned to the private equity markets and now coach clients on the fundamentals of money, wealth creation, demographics, wealth cycles, currencies, commodities, small business development, estate planning, asset protection, and income diversification.
As a Wealth, Health, and Business Development coach, I endeavor to educate my clients in the two fundamental areas of Wealth and Health, with a focus on business development in many areas.
Once educated on the fundamentals of the due diligence process, I help clients create and manage wealth, and protect it from the ravages of inflation, taxes, and the volatile nature of the financial markets.
I am a strong advocate of optimal health and I am proud to use my extensive fitness industry experience to promote the national “90 Day Challenge” platform to foster better dietary and exercise habits for my clients, their families, and their fellow employees.
For businesses, I also seek out new projects; perform detailed needs analysis regarding my client's media marketing strategy; and design multimedia video & TV-ready presentations to help my clients put their best faces forward.
I utilize a variety of publications & social media platforms to showcase unique businesses. In developing a cohesive marketing and branding strategy, I help clients enhance their brand recognition, and boost sales possibilities through enhanced product & service education.