As a Financial Planner I often hear people say "I have a pension so I don't need to save for my retirement". What's happening currently with Sears and Northstar are great examples that pensions are not guaranteed! They are only as good as the financial strength of the company, government or organization and not just now but the financial strength in the future as well! I have seen many clients come through my office over the years where the company fell into dire straits and their employee’s pension was negatively affected just like what’s happening right now with Sears and Northstar (click on link to read more).
If you a family member or a friend that you care about has a pension but isn't really doing much else to save for their retirement please have them sit down with a financial planner to make sure they are really ready for retirement and they are prepared for unforeseen circumstances that might come their way!
As service to my clients I offer free consultations to their family and friends, just to make sure they are ready for retirement, or just as a second opinion, with no obligation. So if you like your family and friends do them a favour and have them take 30 minutes our their life and make sure they are ready!
Todd T. Hopper BA, CFP
Certified Financial Planner
Account Representative, Manulife Securities Investment Services Inc.
Life Insurance Advisor, Vision Wealth Consultants Inc.