We don’t hesitate to insure our most important assets — our lives, our homes, our ability to earn a living. But what have you done to protect your retirement lifestyle from the possibility that you will run out of money before you run out of living?
Consider the statistics: If you’re a 60-year-old woman, you can expect to live to almost 90. If you’re a man that same age, you should plan on celebrating your 87th birthday. (1)
Safeguard your income
A longer life means more years in retirement. If you are expecting to fund those years with payments from a pension plan, your Registered Retirement Savings Plan (RRSP), and other investments, you can take steps now to safeguard that income. One option to consider is an annuity.
An annuity can help protect the lifestyle you envision: It guarantees you will not outlive your income.
Flexible options
You can set up an annuity to guarantee your income for as long as you (or you and your spouse) are living. You can purchase it with either registered or non-registered money. And, for even more peace of mind, your payments can be set to increase each year, to counter the effects of inflation.
As you’re contemplating the best way to safeguard your retirement lifestyle, know this: We can’t help you live long, but we can definitely help you prosper.
(1) Canadian Institute of Actuaries, Canadian Pensioners Mortality, July 2013
Larry Kleinmintz, R.H.U., T.O.T., M.D.R.T.
This newsletter is sponsored in part by Dynamic Funds. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performances may not be repeated. Dynamic Funds® is a registered trademark of its owner, used under license, and a division of 1832 Asset Management L.P.
This newsletter has been written (unless otherwise indicated) and produced by Ariad Communications.
© Ariad Communications. This newsletter is copyright; its reproduction in whole or in part by any means without the written consent of the copyright owner is forbidden. The information and opinions contained in this newsletter are obtained from various sources and believed to be reliable, but their accuracy cannot be guaranteed. Readers are urged to obtain professional advice before acting on the basis of material contained in this newsletter. Readers who no longer wish to receive this newsletter should contact their financial advisor. ISSN 1205-5840