Yves was ready to retire. His advisor showed him how.
“Retirement was something I was really looking forward to. Using the GoalPlanner tool, Jaclyn from CIBC showed me my options.”
Oct. 26, 2021
4-minute read
I have worked hard my whole life. I mean hard work. I spent 39 years working for the same company in LaSalle near Montreal, manufacturing asphalt roofing shingles. I started there after high school, first as a maintenance mechanic and later as the chief mechanic of the thermal power station. This often involved 12-hour days. It also meant working in demanding conditions requiring that I maintain machinery in a power station that could reach 50 degrees Celsius. My co-workers and I would be completely drenched in sweat after a half hour.
Throughout all these years, my wife and I saved for our retirement while enjoying what we love. We travelled across the province in our RV, and I got to go hunting and fishing which is my passion. We don’t have children so we focused on us. Over the years, we were able to acquire what we needed to live a comfortable life.
I often thought about the day I would retire. And I kept saying to myself, “We’ll see what we have, and we’ll make do with it.” I would sometimes discuss my retirement with co-workers who were retiring and we’d talk about how much money we needed. I had an idea of what we’d need in my pension and my investment fund but I thought I had to work at least another few years.
I got a very nice surprise when I started talking about retirement with Manon Pichette, an advisor at my local CIBC. I had known Manon for over 25 years, since I got my mortgage loan from CIBC. She had been there to assist us with all our banking needs all those years and had become someone I consider a friend. She, too, was planning her retirement after more than 40 years with the bank. She introduced me to her colleague Jaclyn Fransham, who is an advisor, and we started talking.
I was calculating my way. Jaclyn showed me a different way. With the help of an online tool — a goal planner — she worked with me to include everything: my pension, my investment fund, all my savings. With the help of her colleague Firas, a Financial Planning Consultant at CIBC, we looked at different options.
Suddenly I had a very different picture — a more complete picture. It showed me that I could retire immediately without touching a penny of my pension until I’m 80 years old. I almost fell off my chair. I’m a tough guy but I had tears in my eyes.
I was on a 6-week vacation with 3 weeks left when Jaclyn called me with the news. I called my boss, told him I was giving him my 2 weeks’ notice and never went back to work.
Manon is also now retired. I told her that I got there first, thanks to her and Jaclyn’s advice. My wife Thérèse and I have everything we’ve always wanted and we can now enjoy life.
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