Data & Research December 16, 2010

Canadian Boomers Glad to Have Retirement Blueprints

As the first wave of Canada's Boomer generation turn 65 years old in 2011, only 23% are concerned about having enough savings, according to the 21st Annual RBC RRSP Poll.
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Seventy one percent of Boomers who reach their 65th birthdays next year, with financial plans in hand, say they are better off financially as a result of those plans. Two-thirds of 64-year-old Boomers first developed their financial plan at an average age of 35, once they began accumulating assets and started saving. Some 42% of Boomers have a formal written financial plan, compared to 19% of the country’s general adult population.

“As a significant portion of Canada’s population nears age 65 and the reality of retirement looms closer than ever, it’s interesting to note that many have a written financial plan,” said Lee Anne Davies, head, Retirement Strategies, RBC, in a news release. “We know a financial plan can provide you with direction and the confidence in knowing your options and how you are going to achieve your goals even if life throws you a curve ball.”

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The RBC poll also found that overall, Boomers say their best outcome for retirement would be good health (28%) followed by living life the way they envisioned (25%) and having saved enough money for a comfortable retirement (23%). For 64-year-old Boomers, the majority (67%) agrees that the best gift they could receive is “good health.”

Deals & People December 16, 2010

Mercer Hires Midwest Relationship Manager

Hal Wallach has joined Mercer’s St. Louis office as Partner and Senior Global Client Manager, a newly created position.
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Wallach will have responsibility for managing client relationships with several large, complex and increasingly global employers in St. Louis and the greater Midwest.  

According to a news release, Wallach brings more than 25 years of experience in human resources consulting and overall client relationship management.  He joins Mercer from Solutia, Inc., where he served as Senior Vice President – Human Resources with responsibility for the global HR function.  For seven years (2000 to 2007) Wallach was Mercer’s St. Louis Office Leader.  Earlier in his career he held positions of increasing responsibility with Buck Consultants, Hewitt Associates and Arthur Andersen.  

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Wallach earned a Bachelor of Science in Business Administration degree from the University of Nebraska.

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