You have managed to hit all the right milestones: graduate from high school, attend a good university, found the partner of your dreams, married and had a few kids. You’ve been busy bringing them up, working hard and paying the bills. As you get them through their final exams you pray they land a perfect job. O.K… A good job. You’ll settle for any job.
As you continue to coast through the years, it dawns on you: you, officially, have fewer years until you retire than you have years left in your career. There I said it out loud: It’s time to start thinking about retirement.
Boom. There it is. The truth-bomb that is having about 15 years left in your nine-to-five to accumulate a nice little nest egg. Fifteen years until you start to consider traveling just a little bit more, working just a little bit less. I have to admit, I have been fantasizing about getting a smaller house for a while now (less work, less cost… less everything). As a woman and an entrepreneur, I know that I don’t always worry about the bigger financial picture. I worry about writing on the blog, the kids and the dog. My husband has been the one that talks the foreign language of mortgages, RESP, and pension funds. The word retirement has not come across my lips yet… heck, I just went through menopause… one dramatic event at a time please.
I know that I needed to speak to a professional that had an unbiased view of my future. I wanted to get a better feel for what I need to get on track for retirement without neglecting all the other stuff. I’m officially on the road to becoming #RetireReady! I found myself searching, searching, and searching for a solution. Do I go to my bank? A financial advisor? A broker? I found myself at the TD #RetireReady website pretty quickly and I found all that I needed to get me started.
It was easy. I could either call or book an appointment on-line. I was able to sign up on-line, choose a time and day that worked for my busy schedule. I made an appointment for the very next day. Locating a branch nearest you is also simple by plugging in your postal code. I had two branches close by to choose from.
The website also lets you select what you want to talk to your advisor about. I went ahead and selected retirement. Once completed TD sends you a confirmation email of your appointment and then asks for you to bring a few extra documents so that you can help your advisor see the whole picture.
I brought in financial documents (line of credit, mortgage, credit card statement, investments and RRSP contributions). I have to say at first I was a bit hesitant but once I spoke to my advisor he reassured me that all would be kept strictly confidential. During my appointment, he asked questions about what my goals were. When I wanted to retire and how we were going to get a map together to get there. He walked me through a comprehensive assets and liability analysis which generated a report that let me know my overall worth. I have never ever done this step before and I cannot tell you how valuable it was to me. One of the most important pieces of information that he provided for me was a better understanding of a Tax Free Savings Account (TFSA) and how I could incorporate my investment portfolio into it. WOW. Free money… That’s not exactly what he said but they mean was the same: there are ways for me to keep more of my money for retirement.
Although the initial appointment was only an hour (yes, it flew by) my advisor provided a Retirement Plan that would help with my savings. I left his office with a lot to think about. I appreciate his candour on some of the tough decisions that I will have to make in the next 15 years to make me #RetireReady. No question about it, it’s worth getting professional financial help and TD made it so easy!
Are you Retire Ready?
Disclosure: This post is part of the YummyMummyClub.ca and TD and the #RetireReady sponsored program. I received compensation as a thank you for my participation. This post reflects my personal opinion about the information provided by the sponsors.