Money Supplement 2012

A14 January 18, 2012

Estevan Mercury

Comprehensive retirement financial plan a must NC- You dream about living happily ever after in retirement, but are you taking the right steps to get there? Too often, the urgency to start thinking about retirement kicks in late.

This leaves many Canadians facing the hard truth that, in order to maintain their current lifestyle as well as enjoy the retirement of their dreams, they should have

started thinking about it a lot sooner.

Savings vehicles like a pension or RSP account are important tools, but they are not a customized financial plan that addresses retirement needs.

“Relying solely on contributions you have made to an RSP account, along with dependence on government or employer pension pro-

grams, can mean you don't have the income you need to lead the lifestyle you're accustomed to in retirement,” says Lee Bennett, Senior Vice President, TD Waterhouse Financial Planning.

Bennett recommends working with an advisor to help you define the personal financial goals that work best with your lifestyle.

“Together, through ongoing

discussions, you can lay out an action plan to reach your short, medium and longterm financial aspirations for yourself and your family.”

Other retirement considerations may include estate planning, trust and will decisions, or tax-planning strategies. Retirement planning is different for everyone, and involves an integrated approach to ensure

you grow into the retirement you've always envisioned.

“What's really important is to make sure that once you have your financial plan, you continue to review and update it—to ensure that as your family, income, or circumstances change in any way, these changes are reflected in your plan. You also want to continue to monitor your plan to ensure you're

on track for your retirement savings goal,” adds Bennett.

The start of a new year is an ideal time to seek the help of an advisor who can work with you to ensure your savings and investment strategy is closely aligned with your financial goals. It's possible to live your retirement dreams, but a financial plan is a necessary step to ensure you can get there.

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Kaelen Both, B.Comm

Aaron Rowlatt, CIM, B.Comm

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Associate Investment Advisor 306-385-6262 kboth@mgisecurities.com

Associate Investment Advisor 306-385-6260 arowlatt@mgisecurities.com

MGI Securities: MGI Securities is an established Canadian full-service investment Àrm. The company provides a comprehensive range of specialized services for institutional investors and professional private wealth management solutions for individual investors.

Established in 2000, MGI Securities is a subsidiary of Jovian Capital Corporation, a public company listed on the Toronto Stock Exchange (JOV). MGI Securities is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF). MGI Securities is a participating organization in the Toronto Stock Exchange, the TSX Venture Exchange, Alpha Trading Systems, Omega ATS and Chi-X Canada. MGI Securities is a CNSX Dealer with access to the Canadian National Stock Exchange and CNSX Markets’ PURE Trading facility.

www.estevanmercury.ca

January 18, 2012 A15

Be ahead of plan

Reigniting your financial goals NC-For over a decade, Desjardins Financial Security surveys have shown that money is a key stressor for most Canadians. They know it's a problem but they're reluctant or unable to break their bad financial habits. Top financial planning experts have called this phenomenon the ostrich syndrome.

"The fact is financial ignorance is not bliss," said Gregory Brown, associate manager with the Desjardins Financial Security Independent Network in Surrey, British Columbia. • Why do you think people avoid financial planning?

Many Canadians believe that our social safety nets, namely the Canada Pension Plan and Medicare, will be able to support them during retirement. But these safety nets will become depleted as the number of retirees continues to increase over the next 20 years.

We all hear this warning and we're told that it's our responsibility to save for retirement. The problem is that most people are unable to picture what retirement looks like. If you can't picture it, how can you prepare for it? So, you just don't and avoid it all together. • How do you overcome the fear?

First of all, take ownership for your past financial behaviours and your future financial goals.

Be honest with yourself and know that anything is possible with a plan. Next, write down your shortand long-term personal and financial priorities.

Your financial goals will support your personal goals, so the two should be aligned. One of the main reasons why we are so stressed out by money is because our personal and financial goals are un-balanced. • Once we have our plan, what's next?

Now you have to have the talk. It's important to make time for regular financial discussions with your partner and some key family members. It's also a good idea to work with a financial advisor who can facilitate the conversation and provide professional and unbiased objectivity.

They'll also have access to other professionals who can step in with solutions, like tax and estate planning. Next, set up regular financial meetings—say once a month or once a quarter—to review your financial priorities and goals to ensure that you remain focussed. • What would you say to someone who is convinced that it's too late to fix their financial situation?

Honestly, it's never too late to make financial adjustments even if they appear out of control.

You can dream big and make it happen. It just means that you have to get organized, ask for help and start making informed

When it comes to investing, it is discipline that pays the biggest dividends. We can help you prepare a prudent wealth strategy, based on your individual objectives and risk tolerance. Then we will help you deliver against it - consistently, carefully, Michele Yergens, B. Admin., CFP with a broad range of Senior Financial Advisor, Branch Manager best-in-class products Shane Weiss, CFP, FMA and services. It’s all part Financial Advisor of the plan to assist you Assante Capital Management Ltd. in growing and preserving your net worth. And help put you where you really want to be; ahead-of-plan.

Please call for a private consultation.

choices. You'll find that the sooner you can get your finances in order, the sooner you'll be able to achieve your dreams.

Sheila M. Squires, CFP, Financial Planner

Waterhouse

For more financial advice and to find an advisor, visit Desjardins Financial Security online at www.desjardinslifeinsurance.com.

Financial Planning

TD Waterhouse Canada Inc. 1305 4th Street Estevan, Saskatchewan S4A 0X1 T: 306-634-2757 F: 306-634-2758 sheila.squires@td.com

1320 4th Street Estevan, SK S4A 0X2 306-634-9008 1-888-899-9008

Assante Capital Management Ltd. is a member of the Canadian Investor Protection Fund and is registered with the Investment Industry Regulatory Organization of Canada.

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Retirement:

Live it on your terms.

The idea of retirement is not the same for everyone.

Maybe you plan to start a second career or work part time. Or maybe you look forward to volunteering or enjoying your favourite hobbies. But whatever your idea of retirement is, do it on your terms.

To help you do this, let’s sit down and talk. This will help us better understand what you want to do in retirement and develop the right retirement plan to help you get there.

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