Did you know that if they could turn back the clock, 23% of retirees would consider getting more advice on planning for retirement?1
This is a good reason to contact your clients to emphasize the importance of getting a head start on their planning. Your clients aged 45 and over are very much in demand by the competition, given their high level of assets: one more reason to contact them on a regular basis.
In fact, according to statistics, the median net worth of Canadians over 45 years of age increases substantially compared to younger people:
|
Age |
Median net worth (2019) |
|
Under 35 |
$48,800 |
|
35 to 44 |
$234,400 |
|
45 to 54 |
$521,100 |
|
55 to 64 |
$690,000 |
|
65 and older |
$543,000 |
This increase of over 120% between age groups 35–44 and 45–55 is primarily due to the reduction in the debt ratio over time. As an example, here is the debt ratio by age group in 2019:
|
Under 35 |
35 to 44 |
45 to 54 |
55 to 64 |
65 and older |
|
39.4 % |
32.5 % |
19.9 % |
10.9 % |
4.6 % |
Help your clients stay confident about their future and strengthen your relationship with them, by creating a retirement plan that addresses their financial concerns!
|
Need more arguments for the importance of retirement planning?
|
Take the lead!
1 Mackenzie Invesments, 2021
2 Léger Survey
3 CIBC, 2018
4 RBC, Financial Independence in Retirement Poll, 2022
5 Advisor, 2018
