episode: 8

Your Power Play: Financial Planning for 35 to Pre-Retirees

July 30, 2020

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About This Episode

Financial planning is critical in creating a foundation for anyone wishing to become an empowered investor. Each stage of life has a specific set of issues that must be addressed to remain on track with your financial plans and today we’re zooming in on the 35 to 60-year-old age group.

During this period, most of us find ourselves extremely busy as we focus on trying to get ahead in our careers while building up our personal lives. This is also when we typically have the highest earnings of our career as we reap the rewards of the careers we’ve built up to this point. Navigating this time well is critical for setting the stage for your next phase of life.

On this episode, Keith and Marcelo talk about why a financial plan is essential for becoming an empowered investor, what you should be focusing on in the 35 to 60-year-old age bracket, how to avoid lifestyle creep, the two questions you need to ask yourself when you enter the 35 to 60-year-old group, and so much more!

Be sure to join us for our next episode as we continue to explore the various aspects of financial planning at every age by looking at the planning components for retirees. Thank you for listening!

Key Topics:

  • The essential components of a financial plan (2:20)
  • Why a financial plan is essential for becoming an empowered investor (3:40)
  • Why we distinguish between the 35 to 45 and 45 to 60 age groups (5:23)
  • The financial focus in the 35 to 60-year-old age span (7:04)
  • How you should approach each gear of financial planning in the 35 to 60 age bracket (8:28)
  • FOMO in 35 to 60-year-olds (12:10)
  • Who is most vulnerable to lifestyle creep? (13:14)
  • Financial pressures unique to the sandwich generation (15:08)
  • The two questions you need to ask yourself when you enter the 35 to 60-year-old group (15:51)
  • What you can learn from Canada’s average household savings rate over the past 30 years (16:34)
  • The downside of not experiencing a recession (18:16)
  • Understanding retirement mathematics (20:07)
  • What the research shows about Canadian’s readiness for retirement (21:08)
  • Why you need to save 20% of your income (22:42)
  • How much savings is enough when you’re 35 to 60? (24:52)
  • The benefits of financial planning (26:14)
  • The consequences of overlooking financial planning (26:58)
  • Our key takeaways for people in the 35 to 60-year-old age group (28:41)
  • And much more!

Meet your hosts

Keith Matthews

Keith Matthews

Partner & Portfolio Manager

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Ruben Antoine

Ruben Antoine

Portfolio Manager

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Marcelo Taboada

Marcelo Taboada

Associate Portfolio Manager

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Thanks for Listening!

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