(NC) - Want to feel financially healthy? Here are two steps that have proven time and again to show a strong correlation with feeling financially healthy during retirement.
Start a financial plan early in life. Start planning under age 35 if you can, but even if you're well past that age and you haven't a plan at your present age, it still helps you to start at any age. It's never too late. Work with a financial advisor, before and after retirement.
"We know that you've heard these two points many times. But sometimes you need a reminder to get started. Never feel that you've missed your chance to prepare for your future," says Fred Pinto, a managing director at Russell Investments Canada.
Among other benefits, having a plan and working with an advisor can help Canadians invest wisely both before and after retirement. Retirees with the greatest financial health are the ones that report maintaining a consistent investment strategy, in good and bad markets.
If you have a plan, with your advisor's guidance, your emotions won't get in the way of knee-jerk investing or making sudden changes that alter your ultimate goals. You can find more information or take the Russell Financial Health Index survey to measure your retirement planning goals against other Canadians online at www.myfinanciallyhealthyretirement.com.
