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Enjoying life in retirement

Just because you’re retired doesn’t mean your money should be.  Your banking products should ensure your money is growing and available when you need it.  And, because you never know what tomorrow will bring, they should also prepare you for any challenges and opportunities that come your way.

Ensure that your banking products are contributing to a successful and stress-free retirement:

Keep your money stable and growing
In retirement, it’s important to keep at least a portion of your money away from the volatility of financial markets.  High-interest savings accounts can be a great way to grow your savings while also keeping it accessible for day-to-day expenses.  This type of account can also be a great option for the conservative portion of your tax-free savings and RRSP savings.  And, if you have a $US account to save for trips to the south, you may want to transferred that money to a high-interest $US account when the money isn’t immediately needed.

If you have savings that you know you won’t need for a year or more, consider a Guaranteed Investment Certificate to earn an even higher rate of interest.

Prepare for the unexpected
No matter how well you’ve prepared for retirement, you may be faced with an unexpected financial need, such as a new roof for your house or an unexpected opportunity, such as a vacation with friends.  The right banking products can help ensure you’re prepared.

If you’re able to allocate sufficient cash to a “rainy-day” fund, a high-interest savings account can keep your money growing and accessible.  If you emergency savings are smaller than you’d like, consider opening an all-in-one account, which includes a line of credit secured by your home.  An all-in-one account allows you to earn a high rate of interest when your account has a positive balance and, if a financial need arises, you have convenient access to a secured line of credit.

The importance of financial advice
There are many things to consider when organizing your retirement finances.  Your financial advisor can help you identify the tools and strategies to help you keep your money stable, accessible and growing.  If you don't have a financial advisor, we can help you get the professional advice you need to make well-informed choices about your financial future. Find a financial advisor.

Looking for an all-in-one account?
If you would like to learn how an all-in-one account could help you prepare for the unexpected, we have a network of Banking Consultants across Canada who will work with you to find the mortgage product that's right for you.  

  • If you have a financial advisor, ask for a referral to your local Manulife Bank Banking Consultant.
  • If you don’t have a financial advisor, click here to locate and contact the Manulife Bank Banking Consultant in your area,

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