--- title: "Empire Life Blog Retirement plan and advisor...the \"one-two punch\"" description: Having a written plan that’s stress tested and working with a financial advisor may provide a powerful one-two punch to deal with a retirement crisis. image: https://blog.empirelife.ca/hubfs/Blog_images/INV-Blog-images/Retirement-advisor-1-2punch-540596948-950740-edited.jpg --- × #### Subscribe ### Subscribe to Email Updates Signing up for our Blog offers you the opportunity to subscribe and receive email notifications for Investment or Insurance type content only from The Empire Life Insurance Company and Empire Life Investments Inc. You may cancel your subscription to the newsletter at any time by clicking on [unsubscribe](http://www.fastandfull.ca/hs/manage-preferences/unsubscribe-simple) or, by contacting The Empire Life Insurance Company or, Empire Life Investments Inc. **The Empire Life Insurance Company** 259 King Street East, Kingston, Ontario K7L 3A8, Canada Toll Free: 1 800 561-1268 Email: insurance@empire.ca or investment@empire.ca **Empire Life Investments Inc.** c/o 259 King Street East, Kingston, Ontario K7L 3A8, Canada Toll-free telephone: 1 855 823-6883 Email: mutualfund@empire.ca Close [Facebook](https://www.facebook.com/Empire-Life-Insurance-142465432433812/) [Linkedin](https://www.linkedin.com/company/empire-life-investments) [Twitter](https://twitter.com/empirelifeins) Subscribe [EN](https://www.empire.ca/blog) | [FR](https://empire.ca/fr/blogue) [![Empire Life | Empire Life Investments](https://blog.empirelife.ca/hubfs/Logo/Combined%20Blog%20Images/combined-logo.png)](https://www.empire.ca/blog) # Insurance, Investments and Group Benefits ## Navigate life with confidenceTM - Insurance - [Insurance](https://www.empire.ca/blog/topic/insurance) - [Helpful Tips](https://www.empire.ca/blog/topic/helpful-tips) - [Customer Service](https://www.empire.ca/blog/topic/customer-service) - Investments - [Investments](https://www.empire.ca/blog/topic/investments) - [Investment Views](https://www.empire.ca/blog/topic/investment-views) - [Off the Cuff](https://www.empire.ca/blog/topic/off-the-cuff) - [Group Benefits(1)](https://www.empire.ca/blog/topic/group-benefits) - [Personal Finance (1)](https://www.empire.ca/blog/topic/personal-finance) ## [Retirement plan and advisor...the "one-two punch"](https://blog.empirelife.ca/blog/retirement-plan-and-advisor-the-one-two-punch) [Investments](https://blog.empirelife.ca/blog/topic/investments), [Personal Finance](https://blog.empirelife.ca/blog/topic/personal-finance) Posted by [Peter Wouters](https://blog.empirelife.ca/blog/author/peter-wouters) May 3, 2018 8:45:00 AM Directeur, Planification fiscale et successorale et planification de la retraite, Gestion de patrimoine Placements Empire Vie ![Retirement-advisor-1-2punch-540596948-950740-edited](https://blog.empirelife.ca/hs-fs/hubfs/Blog_images/INV-Blog-images/Retirement-advisor-1-2punch-540596948-950740-edited.jpg?width=1024&height=682&name=Retirement-advisor-1-2punch-540596948-950740-edited.jpg)How secure do you feel about life after work? Even if work will continue to form part of the next phase in your life, how comfortable are you with your plans and savings for all those tomorrows? Will your plans work, even under adverse conditions? Will you have enough money to do the things you want to do, in the way you want to do them, for what could be a lengthy set of retirement phases? Headline after headline and study after study seem to suggest that people just aren't saving enough. Having a documented plan that is stress tested periodically and working with an accredited, professional advisor can help provide a powerful "one-two punch" to deal with the potential retirement crisis. Consider the following research:   #### **Profile of respondents who feel very secure about retirement** ![Profile of respondents who feel very secure about retirement](https://blog.empirelife.ca/hs-fs/hubfs/Blog_images/INV-Blog-images/Apr2018-PeterW-RetirementPlan-and-Advisor-EN-img1-620625-edited.jpg?width=265&height=255&name=Apr2018-PeterW-RetirementPlan-and-Advisor-EN-img1-620625-edited.jpg)   |   |   | Work with a financial professional, but do not have a retirement plan | | --- | --- | --- | |   | | | |   |   | Work with a financial professional and have a retirement plan | |   | | | |   |   | Only have a retirement plan | |   | | | |   |   | Don't have either a financial professional or retirement plan | |   | | | |   |   | Source: Deloitte Centre for Financial Services 2015 Retirement Study |   I've frequently written about people's sense of preparedness and security regarding retirement. Those that have a formal long-term savings and a retirement income plan are much more likely to feel very secure about retirement. Working with an advisor can generate similar feelings of security and success. Most working age people don't have those strong feelings of comfort and security. They may have savings and investments in registered savings plans. They may have fund investments, stocks and exchange traded funds (ETFs). They may not have a holistic plan.   #### **I feel very secure about retirement and I…** | | #### **do** | #### **don’t** | | --- | --- | --- | | **Have a formal retirement savings and income plan** | **65%** | **25%** | | **Work with an advisor** | **60%** | **32%** | | Source: Deloitte Centre for Financial Services 2015 Retirement Study | | |   Unfortunately, some people who work with an advisor don't have a holistic plan either. The majority of people that do have plans, don't go through periodic stress testing to see if those plans and the investments forming part of them can continue to do the job they were intended to accomplish. Most tend to go through the process once. Some do it on their own and generally without the requisite expertise. As we all know, things you only do once, you tend to do poorly compared to working with accredited professionals who are focused on this area. I end many of my articles with a recommendation to speak with an accredited professional who specializes in this area can help improve your chances of success. It sure can help with peace of mind and feelings of security. It makes money and sense. | Talk to an investment advisor today to learn more | | --- |   [![Find an Investment Advisor](https://no-cache.hubspot.com/cta/default/322854/0a307444-38c5-4e8a-a849-556ab816dd7d.png)](https://cta-redirect.hubspot.com/cta/redirect/322854/0a307444-38c5-4e8a-a849-556ab816dd7d)  ![Retirement Savings Tool](https://blog.empirelife.ca/hubfs/Blog_images/RST-Blog-EN.jpg) [Get Started](https://www.empire.ca/retirement-and-savings-tool) ### POPULAR POSTS ### CATEGORIES - [Insurance](https://www.empire.ca/blog/topic/insurance) - [Investments](https://www.empire.ca/blog/topic/investments) - [Group Benefits](https://www.empire.ca/blog/topic/group-benefits) - [Personal Finance](https://www.empire.ca/blog/topic/personal-finance) [Disclaimer](https://info.fastandfull.ca/disclaimer) [Legal](https://info.fastandfull.ca/legal) [Privacy Policy](https://info.fastandfull.ca/privacy-policy) [Accessibility](https://info.fastandfull.ca/accessibility) [Consumer Information](https://info.fastandfull.ca/consumer-information) [Contact Us](https://info.fastandfull.ca/contact) [Third-Party Tools and Sites](https://info.fastandfull.ca/third-party) [Confidentiality](https://info.fastandfull.ca/confidentiality) [Unsubscribe](https://info.fastandfull.ca/hs/manage-preferences/unsubscribe-simple) **CONTACT US** The Empire Life Insurance Company 259 King St. E. 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