Building Wealth at 70 with one Strategic Change.
In this month’s Investors Corner blog, we will share an actual planning case that we worked on from June 2024 to September 2025 with one of our current clients. We have removed the client names for Privacy, but the client’s have signed off on allowing us to use this testimonial, of their retirement transformation. Please note this article was written by Brian Gribben, Strategic Planner.
This couple aged 70 and 69 were referred to BGIP by another existing client of ours in June 2024. They had been dealing with one of the major banks for many years for their retirement savings, but were quite unhappy with the returns they had been earning, which had averaged just 3.37% over the last 10 years.
In June of 2024 they had $760,000 saved between their RRSP’s and former employer plans, but were very uncertain about whether they have enough to retire comfortably, while also trying to leave money to their children and grandchildren. They figured that they need about $4,000 per month from their retirement accounts, plus their CPP and OAS pensions from the Government.
Based on the 10-year track record they had been earning with the bank they would have very little left to leave their family if they lived to age 90, while taking $4,000 per month from their investments.
In June of 2024 we discussed the opportunity to move their money into a Balanced Growth Portfolio made up of several segregated funds; featuring the top Technology companies, a Dividend Fund that includes the top Canadian Banks, and a Fixed Income Fund of primarily government bonds. The long term return on this portfolio was more than double what they had been earning over the past 10 years while invested with their bank.
If we fast forward about a year to September 2025, during a review meeting I shared with them that their $760,000 portfolio had now grown to over $900,000 reflecting a return of 18% in just over 1 year.
We are now within one year of when they intend to finish up work and start to draw their $4,000 of month in income. In our recent meeting, we have now moved their money into a little bit more conservative portfolio, which will give them their $4,000 per month in income, and will also leave a much larger legacy for their family, which is important to them. They will also have more retirement funds available in the event they have to deal with a sickness or unforeseen expenses during the remainder of their lifetimes.
So a year has passed since we first started working together. Today they are grateful that one Strategic change has made a significant difference in the financial outlook for them, their children, and their grandchildren. They are enjoying more peace of mind and are looking forward to a great retirement together.
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We look forward to serving you soon,
Brian Gribben and the BGIP Team