TD Waterhouse's Sean Millington and retired CFL great Damon Allen team
up to offer strategies for the Red Zone
VANCOUVER, Jan. 31 /CNW/ - Excitement is building for the most-watched
football game of the year. While the big game may be circled on your
calendar, there's another fast-approaching date to keep in mind: the
deadline to contribute to RSPs for the 2010 tax year. Sean Millington,
a former CFL player and Vancouver-area Investment Advisor with TD
Waterhouse, and retired CFL great Damon Allen have teamed up to offer
retirement-planning strategies, especially for those in the Red Zone,
inspired by lessons from the football field.
"When I played football we used a wide variety of strategies, including
specific tactics for the Red Zone. Now that I'm an Investment Advisor I
can't help but notice the parallels between football and retirement
planning," says Millington. "When you're in the time period immediately
before you retire, you're in the Retirement Red Zone. There are
specific strategies you need to implement to ensure you attain your
financial goals before you stop working - when you cross the goal
"Football is such a big part of my life, I've also found it can be a
metaphor for other things," says Damon Allen, who was a professional
quarterback in the CFL for 23 years. "In football, when you get into
the Red Zone, which is the last 20 yards before the goal line, you know
that executing the correct play will make-or-break the game. You need
to take advantage of your close proximity to the goal line, and make
plays that can get you in the best position, so you can score."
Whether you started saving as soon as you began working, or you're just
getting around to creating a comprehensive financial plan now,
Millington and Allen offer the following tips for getting ready for
Choose your plays wisely: don't risk it all if you don't need to.
Whether you're talking about football or your finances, you've worked
hard to get to the Red Zone and the plays you're about to make are
critical: you want to ensure the highest chance of a good result.
"For example, in football, when you're close to the goal line and on
your last down, your team might decide to go for a field goal," says
Allen. "And while a touchdown is worth more points, the field goal is a
"I agree with Damon: in football, a field goal is the safer play in the
Red Zone. Similarly, when you're in the Retirement Red Zone, you should
carefully evaluate your financial portfolio," says Millington. "The
allure of the potentially-higher returns associated with riskier asset
classes can be tempting, but it's less certain, just like going for a
touchdown instead of a field goal. The more sensible play is to take a
more conservative approach and decrease your level of risk by going for
Small actions can yield great results.
On the field, the greatest successes can result from the smallest
tactics: an offensive lineman picks up a delayed blitz, giving the
quarterback an extra second to throw for a touchdown; or a receiver
uses the perfect fake to give him enough separation from the defender
to make the game-winning catch.
"Like the football Red Zone, in the Retirement Red Zone, minor changes
to your investments can have great outcomes," says Millington. "For
example, consolidating your investments with one financial institution
can make them much easier to manage. Grouping them makes it easier to
implement measures to balance and enhance your portfolio, which will
benefit you as you make the transition from your working years to your
Behind many star quarterbacks are great coaches.
Even the best professional football players rely on direction and
feedback from their coaches. Coaches pore over statistics, videos and
scouting reports, and they have an outside view for better insight on
precisely what needs to be done when their team is in the Red Zone.
"When your team is within yards of the goal line, coaches can use their
expertise to make the right call," says Allen. "Good coaching and
advice can be the difference between putting points on the board or
heading back to the sidelines with nothing to show for your efforts."
"Damon and I had some great coaches during our football careers. Good
coaches bring out the best in their players, helping them reach their
potential. In the same way, advisors can use their expertise to
suggest strategies that will help our clients' financial portfolios
achieve their full potential," says Millington.
Know your goals - and put yourself in the best position to reach them.
You need to know your goals in order to determine your strategy, whether
financial or on the football field.
"A team that needs a touchdown to tie the game will have a much
different strategy than a team that is leading by a large margin," says
"Field position greatly affects your strategy on the football field.
Your goals for retirement should work the same way," says Millington.
"Would your ideal retirement be spent at home with your friends and
family, or would you rather spend your time vacationing in far-off
places? Whatever your goals may be, working towards what you consider
to be your 'retirement touchdown' requires a customized strategy,
tailored to meet your specific goals."
About TD Bank Group
The Toronto-Dominion Bank and its subsidiaries are collectively known as
TD Bank Group (TD or the Bank). TD is the sixth largest bank in North
America by branches and serves approximately 19 million customers in
four key businesses operating in a number of locations in key financial
centres around the globe: Canadian Personal and Commercial Banking,
including TD Canada Trust and TD Insurance; Wealth Management,
including TD Waterhouse and an investment in TD Ameritrade; U.S.
Personal and Commercial Banking, including TD Bank, America's Most
Convenient Bank; and Wholesale Banking, including TD Securities. TD
also ranks among the world's leading online financial services firms,
with more than 6 million online customers. TD had CDN$620 billion in
assets on October 31, 2010. The Toronto-Dominion Bank trades under the
symbol "TD" on the Toronto and New York Stock Exchanges.
TD Waterhouse represents the products and services offered by TD
Waterhouse Canada Inc. (Member of the Canadian Investor Protection
Fund), TD Waterhouse Private Investment Counsel Inc., TD Waterhouse
Insurance Services Inc., TD Waterhouse Private Banking (offered by The
Toronto-Dominion Bank) and TD Waterhouse Private Trust (offered by The
Canada Trust Company).
SOURCE TD Waterhouse Group, Inc.
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