Supporting Local in Retirement: Smart Spending that Strengthens Your Community
By Trixie Rowein
As I approach my 26th anniversary with Raymond James, I’ve had the privilege of helping Edmonton families navigate retirement, market cycles, life transitions, and the many financial decisions that shape their futures. One lesson stands above the rest: wealth is most meaningful when it helps improve the lives of others.
Retirement offers something many people spend decades working toward: choice. You have more freedom to decide how you spend your time, your energy, and your money. Those choices can have a powerful impact not only on your own quality of life but on the community around you.
One of the simplest ways retirees can make a difference is by supporting local businesses. Whether it’s dining at an independently-owned restaurant, shopping at a neighbourhood retailer, attending local arts events, or hiring local service providers, every dollar spent locally tends to circulate within the community and support local jobs.
I saw this firsthand during the pandemic. As we looked for ways to stay connected with clients, I made a point of purchasing gifts from Edmonton-area businesses whenever possible. Supporting local entrepreneurs not only strengthened our economy but also helped preserve the unique character and spirit of our city.
Smart spending in retirement doesn’t mean spending less; it means spending intentionally.
I often encourage retirees to think about three questions:
Does this purchase support my values? Choose businesses and organizations whose missions align with what matters most to you.
Can my spending create a local impact? Supporting local businesses, farmers’ markets, cultural events, and community initiatives helps strengthen the city we call home.
Am I creating a legacy beyond my family? Many retirees find tremendous fulfillment in supporting charities that have touched their lives.
For me, community involvement has always been important. Over the years, I’ve proudly supported organizations such as Little Warriors, Ronald McDonald House, the Canadian Cancer Society, Plan International, Doctors Without Borders, and many other worthy causes.
Retirement is also an ideal time to explore strategic charitable giving. Donating appreciated securities, establishing a donor-advised fund, or incorporating charitable gifts into your estate plan can allow you to maximize both your philanthropic impact and tax efficiency.
After 26 years in this profession, I remain convinced that the most successful retirement plans are not measured solely by portfolio values. They are measured by purpose, connection, generosity, and the difference we make in the lives of others.
When we spend thoughtfully, support local businesses, and invest in our communities, we create a legacy that extends far beyond our balance sheets.
And that may be the most rewarding investment of all.
Trixie Rowein
Trixie Rowein is known for her work ethic and commitment to the community and clients. She started her career at Raymond James in 2000 as a financial advisor and has been empowering and guiding clients to make smart decisions for 25 years. She and her team specialize in advising clients going through a transition, including retirement, loss of a spouse through death or divorce and transitioning wealth to the next generation. Growing up in Edmonton in an immigrant family, she saw firsthand how smart financial planning could transform lives.
As a lifelong learner, she has earned several designations, including the Certified Professional Consultant on Aging (CPCA) designation, as serving our aging population matters to her. She values education - writing a weekly e-newsletter, in addition to hosting regular seminars and speaking to high school and UofA students. Trixie is on the Board of Directors of Little Warriors charitable organization, and part of the Raymond James Canada Foundation (RJCF) Advisory Committee. She and her husband Ian enjoy travelling, gardening and spending time out at their acreage. Trixie has two daughters and is fluent in Spanish.
Information in this article is from sources believed to be reliable; however, we cannot represent that it is accurate or complete. It is provided as a general source of information and should not be considered personal investment advice or solicitation to buy or sell securities. Raymond James advisors are not tax advisors, and we recommend that clients seek independent advice from a professional advisor on tax-related matters. The views are those of the author, Trixie Rowein, and not necessarily those of Raymond James Ltd. Investors considering any investment should consult with their Investment Advisor to ensure that it is suitable for the investor’s circumstances and risk tolerance before making any investment decision. Raymond James Ltd. is a Member of the Canadian Investor Protection Fund. Raymond James Ltd. is a Member of the Canadian Investor Protection Fund.