August 2017: Consider these Retirement Planning Truths: 1. You will not decrease your spending during your early years of retirement while you are young, healthy and finally able to do the things you’ve wanted to (travelling, golfing, etc.). 2. Plan to live longer than you think. Today, the average person will retire 61, and live almost three decades in retirement. If a couple is still alive at 67 years of age, one of them will likely still be alive another 30 years. 3. Keep the amount you withdraw from your portfolio as low as possible (under 5%) for as long as possible, and increase it, if needed, as you age. 4. Don’t be too conservative too quickly. While capital protection is important, given how long you will likely live, you need some growth from equities, especially in this low interest rate environment. 5. Plan for your discretionary health care expenses, like retirement housing, cross-border health care, or potential government amendments. Outliving our money is one of the biggest concerns most of us have, and a sadly a likely scenario for those who have not planned properly. Don’t defer. Early financial advice can reduce this risk.