Page 12 - Newcom

by KATIE KEIR, assistant editor of Advisor Group
If clients aren’t prepared to live past age 90, they risk running out of money
RUTH FRITH LIVED UNTIL: 104
This Australian great- grandmother set six world records at the World Masters Games in Sydney in 2009.
IF CLIENTS CAN’T IMAGINE LIVING PAST
age 100, tell them more than 50,000 people across North America already have, says Dan Anders.
What’s more, the number of centenarians (people aged 100 and older) in Canada
is rising. Statistics Canada says that cohort grew 25.7%
between 2006 and 2011 (the number of people aged 60 to 64 grew 29.1%). It’s also been one of the fastest-growing segments for nearly 40 years (see “Changing retirement landscape,” page 17).
So Anders, a retirement and estate-planning advisor in Vancouver, says if people aren’t realistic about their life expectations and income needs, they’ll run out of money.
Anders knew a man who’d led a successful career as an oil and gas executive in Calgary. That man should’ve had a comfortable retirement.
But, after his wife died in her late 70s, he loaned signi cant sums to ve of his six children without drawing up legal agreements.
NORM PERRY AGE: EARLY 80S
Perry, the oldest baseball player at the 2009 World Masters, coaches special needs children in football, baseball, T-ball and softball.
12 AE 01 2015
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