Planning for Retirement

• Solution

Solutions for Your Needs

Planning for Retirement.
In the past, Steve and Diane*, aged 51 and 50 respectively, have always done their investing through their bank. However, they recently became interested in dealing with a full service investment firm and are now sorting through all of the options available to them. They've read about BMO Nesbitt Burns' top-ranked research** and want to take advantage of the broad range of investment options, but they also feel it necessary to work with an investment professional who can provide knowledgeable advice.

Both Steve and Diane have RRSPs. Steve maximized his contributions until 7 years ago when he took his current job which includes a pension plan. Diane has maximized her contributions for the last 10 years and will continue to do so. She is participating in a group RRSP at work.

Since they paid off their mortgage 3 years ago, Steve and Diane have been directing $2,500 per month into a joint investment account at their bank, which is now worth almost $80,000. They are saving as much as they can, but realize it may not be enough for them to retire at age 60. Despite this, they feel strongly about their planned early retirement and don't want to have to change their plans. Both of their children have completed their post secondary education and live away from home. In the past, Steve and Diane have been conservative investors, but now that they've accumulated $80,000 in their investment account and have the added security of Steve's employer pension, they've decided that they are ready to develop a more balanced portfolio that is consistent with their risk tolerance.

Addressing the Situation
As you near retirement, investment planning takes on new importance for many investors; perhaps you're one of them. Let's take a look at solutions that investors like you and Steve and Diane may want to consider with retirement approaching.

* Fictional characters. Any similarities between them and actual clients of BMO Nesbitt Burns Inc. are accidental.

** Brendan Wood International Survey. Institutional Equity Research, Sales and Trading Performance in Canada, 2006 Report.