|October 2008 Issue of Forum - Financial Advisors Association of Canada|
|Article Printed in October 2008 Issue of Forum – Financial Advisors Association of Canada|
Robert McEachern, CFP, CLU, Chartered Financial Consultant at LifePath Transition Strategies in Barrie specializes in the family and retirement markets. To seniors, he discusses the pit falls of retirement and health care issues of the future. Clients may not expect, but should require these value added services.
Early on in his career, Rob carefully contemplated his current and future financial needs. Initially he decided that his family needed $6,000 per month to be taken care of correctly. But that was not a static plan, it evolved as his priorities changed to its current position.
Today, he has a contingency plan with a younger advisor in his office to service his clientele if he is disabled, dies or decides to retire. His office procedures include a manual that outlines all of the steps of his unique LifePath Transition Strategies program. One of the things that surprises him is that too many people are waiting until poor health forces them to retire and don’t have a contingency plan in place. That is like waiting until the cattle or horses are out of the pasture before closing the gate. You have to put your contingency plans in place when you are healthy and perhaps don’t need it, but will some day.
Choosing to operate his business as he recommends his clients protect their assets only makes common sense. It also reduces the urgency to do so when stress and poor health can affect your decision making. The best time to start is today.
Robert McEachern, CFP, CLU
Chartered Financial Consultant
LifePath Transition Strategies