| Interview
Opportunity WHAT: In the context of the new retirement, that means considering specific goals, contingencies and ambitions and the effects these decisions will have on family and friends ahead of the actual money matters. BMO is helping boomers to think more broadly about how they see their retirement years, with its recently developed Define Your Path guide. Define Your Path was created to help boomers perceive retirement planning in an entirely new light -- from an activity focused almost exclusively on accumulated savings to a process that integrates personal, philosophical and health and wellness issues into the equation. “Retirement planning has traditionally been focused on the means to an end rather than the end itself,” said Tina Di Vito, Director of Retirement Solutions, BMO Retirement Market Group. “However, without a clear picture of your retirement outlook -- from work and leisure to health and family – the dollars alone lack the full context. Just as Canadians don’t save for a family holiday without a destination in mind, retirement planning shouldn’t establish a target financial sum without having a clear picture of how a person intends to live in retirement,” added Ms. Di Vito. The Define Your Path book helps the user create a life map of goals and milestones by exploring such questions as:
The life map also helps users consider contingencies for managing those unexpected events that could derail a financial plan, such as caring for an ailing loved one or dealing with a change in a significant relationship. Working on their own, with a spouse or with friends and peers, Define Your Path guides pre-retirees to chart a retirement course that an investment advisor can then help make attainable. It’s about shrinking the gap between retirement aspirations and reality. WHO:
For Media Inquiries: Paul Gammal,
Toronto,
paul.gammal@bmo.com, (416)
867-3996 |