This article explores the financial challenges faced by a couple nearing retirement who are grappling with a large inheritance. It highlights the importance of a well-diversified investment strategy and the need to balance long-term financial goals with short-term needs. Expert advice from a certified financial planner provides insights into managing risk and optimizing retirement planning.
Mark and Rebecca, a couple nearing retirement, face a financial dilemma with a looming $1-million inheritance. Their current financial plan, which relies heavily on cash and guaranteed investment certificates (GICs), falls short of covering their projected retirement expenses. They seek advice on how to safely invest the inheritance while ensuring it remains available for their son in the future.
Financial planner Matthew Ardrey analyzes their situation, highlighting the risks of their current asset allocation and recommending a balanced portfolio approach to improve their investment returns. He also explores alternative strategies, such as leveraging their paid-off home as a safety net and considering a joint last-to-die life insurance policy to guarantee their son's inheritance. Ardrey emphasizes the importance of risk management and diversifying their investments to ensure a secure retirement
RETIREMENT PLANNING INHERITANCE INVESTMENT STRATEGY RISK MANAGEMENT FINANCIAL PLANNING PORTFOLIO DIVERSIFICATION
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