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www.insideHALTON.com | OAKVILLE BEAVER | Thursday, February 19, 2015 | 20 Claude's vaCuum shop Wage earners without pension, Includes Deluxe Air Package Sales · Service · Parts Free Estimates on Repairs Hours: Monday, Tuesday, Thursday, Friday · 9am - 6pm Wednesday · 9am - 5pm Saturday · 9am - 4pm sale $39999 savings at most risk in retirement continued from p.17 a company pension in the mid-to-high income group. Only 63 per cent without a workplace pension will be comfortable during retirement. By contrast, the number of mid-to-high income group workers with a workplace pension is 91 per cent. Again, these are primarily workers who are directly or indirectly employed by government. The report said 63 per cent of people worry about retirement. So, the key question is how do you know if your retirement will be financially stable? Fabrice Morin, a principal with McKinsey said, "Those who have built a financial plan know, but those who do not have a financial plan usually don't know how much they will have in retirement." Some will retire comfortably and others will not. The most at-risk group is those who are without a pension and have saved little. Over half of that group has a retirement problem. The next-largest group at risk are those like many Oakville residents who have enjoyed an above-average lifestyle from their good earning power -- that is sustainable during the working years with regular employment income. Without a pension, however, you will not able to continue this lifestyle when the pay cheque stops. Life has been good but the good life will evaporate during the final decades of your life. Our recommendation is to follow what works based on the evidence of the McKinsey report. What are the ingredients for success that have helped those most prepared for retirement? First, have a retirement plan and second, save now so you will be able to spend in retirement. Those two actions are what the research says should be the building blocks to a financially-sound retirement. The decision on when to retire is one of the most important financial decisions you will make. We encourage you to invest the time and effort in planning and then enjoying your many years after work has stopped. Don't find yourself stuck in the middle of the dance floor of life wondering if you need to go back to work. When should you embrace the journey of retirement? Hello retirement... shall we dance? -- Submitted by Peter Watson, MBA, CFP , R.F .P ., CIM, FCSI., Certified Financial Planner Supreme 100, 10 Years Warranty 128 Kerr St., Oakville, ON L6K 3A7 905.842.5658 | claude2@cogeco.net www.claudesvacuum.com WE CARRY A LARGE SELECTION OF VITAMINS, SUPPLEMENTS & HERBS 511 Maple Grove Drive, Unit #11 Oakville ( South of the QEW, East of Trafalgar ) THE INTR UCING INTRODUCIN LEAF TEA n 80 varieties varie in v ieties ti FINEST LOOSE Green tea, Herbal and Wellness tea, Oolong, Matcha, English F , Chai, Black Tea, ea, Matcha, M cha, Pu-erh, P h, Yerba Mate, , Favorites, Rooibos, China Black, and White Tea. www.walkersvitamins.com Call 289 837-3591