Retiring Well: Planning in an age of longevity
Scotia Wealth Management Senior Wealth Advisor, Dave Lee, offers Total Wealth Planning in White Rock. To book an appointment, call 604.535.4743 or email dave.lee@scotiawealth.com.
As a Total Wealth Planner in White Rock, Dave Lee has a front-row seat when his clients transition to retirement, and that’s given him unique insights into retiring well.
Canadians are undergoing a societal shift, as healthcare improves and life expectancy increases. Where we used to expect to live to age 75, now living to age 80, 90 or even 100 is becoming much more common. Older adults are also staying active much longer as well, with activities like travel and pickleball attracting older demographics than they used to.
“Of course there are no guarantees when it comes to your health, but there’s a lot you can do to improve your chances of having both a long and healthy retirement,” says Dave, a Senior Wealth Advisor with Scotia Wealth Management.
With his combination of academic training and decades of experience with previous clients, Dave offers insights that can help clients choose a better path.
Challenges to overcome
Last month, Dave shared the importance planning plays when finding purpose in retirement. Planning includes what you’ll be doing, as well as who you’ll be doing it with.
“Some people assume they’ll swap time at work for time with their spouse, but those who haven’t talked through this as a couple first often have a bumpy transition. The spouse who is already retired generally has a routine, a social group, and a different vision of how they want to spend their time. This lack of planning, coupled with the increased longevity of retirees, can lead to strained relationships and there has been a rise in late-in-life divorce.”
“Retirement planning is about more than just numbers and maintaining physical health. The health of relationships with friends, a spouse and other family members can be just as important to retiring well,” Dave says. “The more I learn about who is important to you and what is important to you, the better I’ll be able to advise you on the financial aspects of your lifestyle goals, retirement strategies and estate plans.”
Dave Lee CIM, CFP, FCSI is a Senior Wealth Advisor with Scotia Wealth Management in White Rock. He can be reached at dave.lee@scotiawealth.com or 604.535.4743.
Enjoying these articles? Visit www.dave-lee.ca/publications to read more.
ScotiaMcLeod, a division of Scotia Capital Inc.