Insured Retirement Program...

A universal life insurance is a powerful financial planning tool that can be used to generate income during retirement.

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Individual Pension Plans...

With careful planning, consider setting up an IPP to defer tax, if you will be running a business.

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Saving for           Retirment!

Advice Matters

A survey sponsored by Mackenzie Investments shows the baby boomer generations in Canada have to overcome investing fears and work with a professional Certified Financial Planner to assure them of satisfying retirements. The next decade is a critical time for this group as they enter their peak income years and savings periods of their lives. Some key findings among Boomers include:

• 60% rate their personal ability in choosing the right investments as poor.

• 56% believe they are not saving enough money for retirement.

• 60% believe working with an advisor will result in higher investment returns.

The research also revealed other interesting points.

1- 60% of Canadians rate themselves as mostly poor investors:

Sixty percent of respondents rated themselves as “poor” in selecting their own investments. Women

(68%) were more likely than men (52%) to assess themselves as having weak investment knowledge. Only 12% of respondents considered themselves to be “highly skilled” investors.

2- As individuals turn older, they turn to planners for help:

Most adult Canadians are sold on the value of financial advice: 57% of respondents reported that they already use a financial advisor, and that likelihood increases with age. Seventy-one percent of respondents aged 65+ have an advisor, compared with only 48% in the 30-44 age bracket.

3- People would rather do chores than look after their finances:

What would you like to do more of, if you had more time? If a time genie were to come along and say, “You have five extra hours each week to spend on whatever activity you like,” what would you say?

4- Men’s and Women’s return expectations are out of sync. A few themes came through from this question:

• Uncertainty; The most common response was “I don’t know.” (34%).
• Moderate expectations: The median expected return for 2005 was 8%.
• Men expected higher returns and were more confident about stating a number. 

5- Financial media, a blessing for some a curse for others:

Canadians are polarized about using financial media to help them manage their own investments. Nearly half of survey respondents were positively disposed to reading business pages in the newspaper, financial newsletters and websites.

CI Investments