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Being able to see the road ahead makes travelling the distance a lot easier, and that goes for retirement planning as well.
Having a map for where the road to financial security leads helps to facilitate better outcomes, Peter Diekmeyer writes for Benefits Canada, reporting on what investment professional Neil Walton said at a recent DC summit.
“Start with the end in mind. That means reviewing projected consumption and income needs and asking: What creates a successful retirement?,” he is quoted saying.
“Looking at the retirement process as a journey also positions participants to get better leverage at all key stages, Walton noted. For example, during the savings stage, increasing the account size is more important than asset protection, as there’s generally time to recover from market setbacks,” writes Diekmeyer.
More: Transitioning into income-producing products.

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