FRANÇAIS
CONTACT US: marketingrequests@heb.ca
  • Products
    • CHIP Reverse Mortgage
    • Income Advantage
    • CHIP Max
    • CHIP Open
  • Rates
  • Calculator
  • Resources
    • Resources
    • e-Store
    • Broker Launchpad
    • Webinars
    • Marketing Hub
  • Refer A Client
  • Wealth
  • Blog
  • Find Your BDM
  • Products
    • CHIP Reverse Mortgage
    • Income Advantage
    • CHIP Max
    • CHIP Open
  • Rates
  • Calculator
  • Resources
    • Resources
    • e-Store
    • Broker Launchpad
    • Webinars
    • Marketing Hub
  • Refer A Client
  • Wealth
  • Blog
  • Find Your BDM
  • January 7, 2019
  • /
  • Consumer Insights

4 things your clients should know about their retirement

For years, we Canadians have been conditioned to think about retirement in terms of planning and saving. But it’s a new reality out there. Today, there are more factors to consider, and more products at our disposal. The 4 facts below can affect the way your clients prepare for the day they step away from work for good. Sharing these with them will not only serve to deepen your client/broker relationship; it will also demonstrate how you continue to have their best interests at heart.

  1. Women need to save more for their retirement than men do. It’s a known fact that women live longer, so it makes sense that they will require more money for those extra years. Statistics show that on average, a woman aged 65 today will live to be 87, while a man of the same age can expect to live to be 84. Will your clients’ money last as long as they do?
  2. The Canada Pension Plan and Old Age Benefits help. If you worked in Canada your whole life and retire at 65, you could qualify for up $16,600/year in CPP and Old Age Benefits each year. While that’s not enough to live on, it’s a nice little cushion to count on.
  3. People are working longer. While the average retirement age in Canada has officially hit 65, people are no longer sitting on the sidelines and watching the world go by. Many people choose to stay engaged by continuing to work part time or even pursue a second, new career.  As a whole, we are staying active and engaged longer while continuing to earn money. And that’s a good thing, because many Canadians will not have enough funds once they retire.
  4. The average Canadian 55+ will have a $10k income gap yearly, when they retire. Living longer has created a financial shortfall, because many financial plans didn’t factor in this kind of longevity. Many other Canadians – about half of the population – don’t even have savings. Options like reverse mortgages are growing in popularity and can unlock up to 55% of the value of their home into tax-free cash.

Retirement is a stage many of us look forward to. By making your clients aware of where gaps in their nest eggs may occur, they can plan properly and look forward to enjoying their golden years without worrying about running short on finances.

SOURCES:

Statistics for how long people live:
https://www.theglobeandmail.com/investing/personal-finance/retirement/article-70-is-the-new-retirement-age-or-is-it/

Amount you can qualify for in CPP/Old Age Benefits:
www.moneysense.ca/save/retirement/10-things-they-wont-tell-you-about-retirement/

  • Posted by Dev Admin
  • On January 7, 2019
  • 0 Comments
  • 3 likes (You have already liked it.)

Email

4 things your clients should know about their retirement

For years, we Canadians have been conditioned to think about retirement in terms of planning and saving. But it’s a new reality out there. Today, there are more factors to consider, and more products at our disposal. The 4 facts below can affect the way your clients prepare for the day they step away from […]
Read more

Thank you for sharing! Your email has been sent

Please provide your email to download

Post your comments here: Cancel reply

Sign in to post your comments.

Search
Our Recommended Reads
  • What NOT to do when talking to your 55+ clientsConsumer Insights
  • 5 ways LinkedIn can get your networking working for youMarketing Strategy
  • What we can learn about mortgage rates from the 1980’sMortgage Trends
Stay Informed!
Get the latest news & valuable content sent right to your inbox.
Your information is protected, and we will only use it to send marketing communications and special offers. It will not be shared with third parties.

THANK YOU
FOR SIGNING UP !

KEEP AN EYE ON YOUR EMAIL FOR THE LATEST CONTENT.

Related Articles

  • May 2, 2019
  • /
  • Consumer Insights

Is Youngsplaining the New Mansplaining?

Move over Mansplaining, there’s a new trend afoot. Youngsplaining (or what academics tend to refer to as
  • January 7, 2019
  • /
  • Mortgage Trends

What we can learn about mortgage rates from the 1980’s

Whenever you read the financial section of the news, you’ll find at least one article that discusses recent rate hikes from...
  • January 7, 2019
  • /
  • Consumer Insights

The downside of downsizing

On the surface, downsizing can make financial sense. Homeowners can use their home’s current value to purchase a smaller home that...

How to stay relevant in 2019: tips to help your email stand out

Next thumb
Scroll
OUR PRODUCTS
  • CHIP Reverse Mortgage
  • Income Advantage
  • CHIP Max
  • CHIP Open
SALES TOOLS
  • Current Rates
  • Calculator
  • Resources
  • Marketing Hub
MORTGAGE BROKERS
  • Marketing e-Store
  • Find Your BDM
ABOUT
  • Working With Us
  • About Us
  • Contact Us
  • Legal
  • Privacy Policy
  • Whistleblower Policy
  • Resolving Complaints
  • Prohibited Conduct
  • Voluntary Codes of Conduct
  • Blog

©2020 HomeEquity Bank. | All Rights Reserved.