Effective retirement planning begins early in life, says Atlantic Trust

Atlantic Trust experts recommend that retirement-minded individuals reflect on key considerations for estimating future financial needs

ATLANTA, March 19, 2015 /PRNewswire/ - Retirement should be a major planning objective, regardless of a person's stage of life, according to Atlantic Trust, the U.S. private wealth management division of CIBC (NYSE: CM) (TSX: CM).

Even as Atlantic Trust's latest outlook paints a mostly positive picture of the U.S. economy in 2015, concerns about the future of Social Security and other pension programs, combined with a growing retirement age, mean that people will need more retirement income than ever as they live well into their 80s and 90s.

"Every person has the same ultimate goal: a successful retirement," says H. Arthur Graper, CFP, managing director for Atlantic Trust. "But creating a plan that ensures financial independence in this phase of a person's life can sometimes be complex to execute. That is why it is important to begin planning well in advance of reaching retirement age."

Identifying the relevant variables to include in such a calculation can be a daunting task for even the most modest of retirement goals. Graper recommends starting the process by taking stock of the present moment, including one's current retirement savings, family, financial or career obligations and medical history.

Considering that American life spans are increasing, a person's retirement could last as long as his or her career, which is why it's also important to have a plan that clearly identifies one's personal retirement and wealth transition objectives. These may include travel plans, a new vacation home or a desire to support a favorite charity or help pay for a grandchild's education costs in addition to what amount one wants to leave to their family members at their death.

Because each person's retirement goals are unique, Graper says it's difficult to point to a single, definitive number that corresponds to a successful retirement amount. However, an individual's current savings and risk tolerance, in addition to external factors like inflation, tax rates and Social Security benefits, are all generally key factors in determining what that number could look like.

There are several retirement investments to help individuals create a balanced equation for a successful retirement. Atlantic Trust also offers a variety of resources related to how to prepare financially for this phase of life. For more information, read "Retirement by the Numbers" or visit Atlantic Trust's Online Resource Center.

About Atlantic Trust

Atlantic Trust is one of the nation's leading private wealth management firms, offering integrated wealth management for high net worth individuals, families, foundations and endowments. The firm considers clients' financial, trust, estate planning and philanthropic needs in developing customized asset allocation and investment management strategies. Experienced professionals deliver a broad range of solutions, including proprietary investment offerings. We have a robust open architecture platform of traditional and alternative managers. Atlantic Trust operates in 12 full-service locations throughout the U.S. with  $26.2 billion in assets under management (as of December 31, 2014). For more information, visit www.atlantictrust.com.

About CIBC

CIBC is a leading Canadian-based global financial institution. Through our Retail and Business Banking, Wealth Management and Wholesale Banking businesses, CIBC provides a full range of financial products to individual, small business, commercial, corporate and institutional clients in Canada and around the world. CIBC owns a 41-percent equity interest in American Century Investments®, a major U.S. asset management company, serving financial intermediaries, institutions and individuals, and acquired Atlantic Trust, a premier U.S. private wealth management firm, in January 2014. You can find other news releases and information about CIBC on our corporate website at https://www.cibc.com/ca/media-centre/.

SOURCE Atlantic Trust Private Wealth Management

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