Financial Advice or No Financial Advice…..that is the Question! More and more people struggle with the thought of retirement, not so much what they will be doing but whether they will be able to financially afford to retire or even worse out-live their money. We hear stories of individuals in their 70’s and even 80’s who have to take on part time work in order to supplement their Canada Pension. It’s becoming a sad but true situation with many of our seniors. In fact, we strongly suggest that you meet with a financial advisor at least 5 years prior to retirement to see if you are on track. He/she will then make recommendations and suggest strategies, perhaps tweak your portfolio, in order to bring you back in the right direction. Often times, this may be necessary especially during volatile markets as we see now or simply because of changes in family lifestyles, unexpected emergencies, divorce, etc. In fact, if you’re financial advisor is not calling you at least twice a year, maybe it’s time for a change! Most Canadians have a family doctor, mechanic, dentist and even lawyer they regularly see. Why would your life savings health and well being be any different from your teeth or your car? As well as being licensed to deal with various investments, a well rounded financial advisor would be life insurance licensed in order to provide you with advice in that area as well, it’s all part of the “big picture” approach. Debt protection products such as life insurance, critical illness, disability and long term care insurance to name a few, as well as Segregated Funds which offer particular estate planning benefits are all products that may need to be used to achieve your objectives. But products are only the end result. What is most important is that your advisor listens and understands your particular needs, and has the resources and tools to provide solutions. Similar to your relationship with your health practitioner, your relationship with your financial advisor should be comfortable and a good fit. There are many fine advisors in our community, some who work independently some that are part of a financial institution or a team and perhaps you already use their services. If not, put it on your agenda now, take advantage of the service. In this day and age, with so many sophisticated products and so much information out there, seek out the aid of an expert if for nothing else but to get a second opinion. Your financial security and that of your loved ones depend on it!