The timely retirement plan

At 67, engineer James Hill remained extremely active professionally, but was planning to soon retire. James was in good shape, thanks to the long, invigorating walks he took every day, and was enjoying life on a magnificent lake less than an hour outside Toronto. Five years ago, on a surprisingly balmy evening in early March, he was finishing dinner when the phone rang. It was Eric, his Sun Life Financial advisor, calling to check in.

“Eric had been my advisor for years, and we’d become friends,” says James. “His call came at just the right moment. All was well, but I had some concerns about my RRSP. I had invested a large part of it in equity funds, and with my retirement just around the corner I was looking for more security and peace of mind.”

After a long conversation, Eric, who lives in Toronto, suggested James visit him the following week, adding that they could set aside plenty of time to review all of James’ retirement options. James was delighted and accepted the invitation straightaway. “I’m the type of person who asks a lot of questions. I like to go into detail and need to understand everything,” says James. “Some people don’t like that, but Eric doesn’t mind at all. Quite the opposite, actually.”

Eric was able to fully identify his friend’s needs and concerns, and recommended what seemed an ideal solution. With Eric’s guidance, James transferred a large portion of his RRSP to segregated funds with a guaranteed minimum withdrawal feature, ensuring him a secure financial income that is guaranteed for life, while providing investment and income options. “I realized,” says James, “that this product met my expectations, offered superior security and gave me the opportunity to choose my investment options. I really like to get involved.”

Later that year, the entire financial world shook as global markets declined. But, thanks to James’ timely decision, his income was safe. “I needn’t tell you how relieved I was that I took Eric’s call – and his advice!” James laughs, “My income is protected from future market downturns, and I am now happily retired.”

Based on a true story, certain names and details have been changed for privacy reasons.

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Life’s brighter under the sun