Your Architect & your Contractor part II

As in Part I, the retirement income specialist is the architect of your personal retirement income blueprint. Now, who is your contractor?

This is the person who oversees the investments that create income from your assets. It should be the same person as your architect, and if not, there should be a direct working relationship between the two. It may be one person or a team of people who specialize, but the blueprint and its implementation has to be in sync. The investments used may be mutual funds, investment pools, ETFs, GICs, individual stocks and bonds or any combination of those instruments. The key point is that there has to be coordination between your invested assets and the execution of the plan. There are different ways in which this can be set up, including the following:

  • Your planner may choose and manage the investments for you.
  • Your planner may refer you to a private investment counsel but still “quarterback” the entire process.
  • Your investment advisor may have “in-house” planners who create the blueprint for you.

A successful income plan is not solely about creating the blueprint to detail how your income should be created. Nor is it solely about how your money is invested. It is about the two of these things working effectively in tandem.

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