Retirement dreams made easy
Golfing on a Monday afternoon, spending the summer in the garden or traveling the world are retirement dreams that may soon be a little easier for McMaster employees with the launch of a new financial and pre-retirement planning program.
A new initiative, offered by Toronto-based Financial Knowledge Inc., provides employees with customized textbooks, workshop books and a Web-based resource on planning for retirement. Developed in partnership between Working at McMaster and Retirement Support Services, it will soon be available to all McMaster employees.
“Making the decisions necessary to plan for your retirement are not often easy,” says McMaster President Peter George. “There are many factors to consider throughout one's career, and the planning process can become more complex by a variety of possibilities.”
For example, plans and requirements for retirement tend to change throughout one's career, so flexibility with planning is required to address the impacts of changes as they occur. Also, the word retirement' has a different connotation now than it did a generation ago. “For many people, their retirement years seem to be filled with more diverse activities than during their working years and that requires more specific, proactive planning,” he says, adding there is also a greater priority placed on wellness both prior to and during retirement.
“Not only does the new service include financial planning, but lifestyle planning,” says Jason Cole, senior manager of organization performance with Human Resources Services. “People should be actively thinking and planning about retirement years in advance and this program is an opportunity for all employees to gain free insight and advice about how to enjoy the retirement of their dreams.”
The service will roll out over four years. Customized workshops will be offered to four age groups, beginning with those eligible to retire this year. In each consecutive year, workshops will be rolled out for age groups from 55 and over, 45-54, 36-44 and under 35.
In addition to a financial and pre-retirement planning workbook, a financial survival resource book will be made available to participants who attend the workshop.
Information is also available on FKI's Financial Educator Web site. The e-learning site provides online tools as a value-added complement to the financial and pre-retirement planning workshops. It also allows users to plan for their future using a comprehensive online learning curriculum related to financial, retirement and life cycle planning.
The Web site is available 24 hours a day and can be accessed from any internet connection. To logon visit http://www.thefinancialeducator.com. In the top right hand corner of the screen enter the following: User ID: mcmasteru Password: g50a1p and click on “LOGON”. Once you have logged into the site, you will be
asked to provide your name, e-mail address, and desired (personalized) user ID and password. When you have finished entering your information click on “REGISTER”.
The Web site will generate a confirmation to your e-mail address with your personalized user ID and password. For future access, enter your personalized user ID and password in the top right hand corner when you enter the Web site.
Additional information regarding the e-learning curriculum can be found on the Retirement Support Services portion of the Web site at www.workingatmcmaster.ca. Any questions regarding the Web site should be directed to the Retirement Support Services administrators, Beata Dycha at ext. 23692, dychab@mcmastere.ca or Jeff Chuchman at ext. 24570, chuchj@mcmaster.ca.
