Sightline Discusses How to Prepare Finances for Retirement with the Financial Post

When it comes to retirement, many investors begin preparing decades in advance. However, if you are five years or less away from retiring, it is important to review your investments to ensure your portfolio is positioned to last throughout all of your golden years. To help you get started, the Financial Post spoke with Sightline Wealth Management for insight on the steps you can take to ensure your finances are prepared for a long, fruitful retirement.

One important step for future retirees is to always over-prepare – especially because people typically spend more during retirement than originally expected. “With current concerns about inflation, spending plans could be more expensive, while the value of your portfolio is depleted,” explains Sightline Senior Investment Advisor Paul de Sousa. “Take some time to draw out a realistic spending plan for the future and then plan for inflation or expenses you may not have considered.”

Also, with the chances of living well into your eighties or higher if you’ve already made it to 60 or 65, Sightline recommends making a more realistic assessment of how long your retirement fund can last. “You can do a simple calculation known as the ‘four percent rule’ to perform a quick check on your finances,” says de Sousa. “Multiply your projected yearly cash needs by 25 and you’ll have some idea of how well you’ve prepared.”

When preparing for retirement, investors should also remember that past portfolio performance does not guarantee future returns. “If your portfolio has been performing to your expectations in recent years, recognize that the economic landscape is more volatile than it once was,” de Sousa tells the publication. “Five years out is a good time to have your portfolio reviewed to optimize diversification and asset allocation for current conditions.”

Regardless of your current preparations, it is important not to plan for your retirement alone. Instead, Sightline believes the best course of action for optimal results is to reach out to a trusted advisor. “By talking to an advisor well before retirement, you can optimize the potential of your investments to provide adequate retirement income in support of the lifestyle you’re counting on,” de Sousa says.

Click here to read the entire Financial Post article.


Important Information:  

Sightline Wealth Management LP (“Sightline”) is an investment dealer and is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF). Sightline provides management and investment advisory services to high-net-worth individuals and institutional investors primarily through fee-based accounts.  

Sightline Wealth Management LP is a wholly owned subsidiary of Ninepoint Financial Group Inc.

(“NFG Inc.”). NFG Inc. is also the parent company of Ninepoint Partners LP, it is an investment fund manager and advisor and exempt market dealer. By virtue of the same parent company, Sightline is affiliated with Ninepoint Partners LP. Information and/or materials contained herein is for information purposes only and does not constitute an offer to sell or solicitation to purchase securities of any issuer or any portfolio managed by Sightline Wealth Management or Ninepoint Partners, including Ninepoint managed funds.

 Sightline Wealth Management (“Sightline”) makes every effort to ensure that the information has been derived from sources believed to be reliable and accurate. However, Sightline assumes no responsibility for any losses or damages, whether direct or indirect, which arise out of the use of this information. Sightline is not under any obligation to update or keep current the information contained herein. The information should not be regarded by recipients as a substitute for the exercise of their own judgment. Past performance is not indicative of future performance. Please speak to your Advisor regarding the suitability of information provided in this article for you. The opinions, estimates, projections and/or recommendations contained in this document are those of the author as of the date hereof.

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