Will you outlive your retirement savings?
By BrighterLife.ca
Canadians are living longer than ever before but they’re worried about whether their money will last as long as they do, according to a recent survey by CARP, the national advocacy organization for Canadians aged 45 and up. The good news is research shows people who are working with an advisor are much more likely to feel confident about their financial future than those who aren’t.
Looking for concrete suggestions for building a secure financial future in your retirement? Read What is your financial future? on Boomer and Echo.
For more retirement planning tips, read:
- How much can you contribute to an RRSP?
- Should I borrow to contribute to my RRSP?
- The procrastinator who retired early
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The correct answer is no even if you live to 126!
Why if one buys an annuity as an example it can be guaranteed for life!
Currently doing one for a 84 old female 12% pay out every year 0% is taxable!
At least Canadians are starting to worry. The more aware they are, the more action that will be taken.
I agree that an awareness is better than nothing. We have to take action now and plan ahead even if we don’t hold the crystal ball…I mean, who does? Find out what you want, and make an action plan with a plan B and C if that makes you sleep better at night.
Yes, being aware, and making plans are two very different things though. People know they have debt, but refuse to talk about it!
Some words for thought:
Without a dream, there is nothing;
without a plan, it can only happen by chance;
Plan to realize your dream, and live a “brighter life”.
- Cheers.
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