Category Archives: Retirement Income

Protecting your retirement income from the stock market

Imagine that you’re 60 years of age and you’ve recently retired. You have a small pension that’s supplemented by incomes from the Canada Pension Plan, Old Age Security and an investment portfolio. You’re not rich, but you’re able to live comfortably and worry free. All of those years of saving have paid off and you’re

Retirement income options for a DC Pension Plan?

Recently I wrote about theoretical retirement income options from a Defined Benefit Pension and a Defined contribution Pension. Related articles:  Defined Contribution Pension Options at retirement   and  Defined Benefit pension options at retirement This week, I would like to look at this from a more practical perspective via a case study of Paula. Paula has

Using annuities to guarantee retirement income

As investors approach retirement, they often begin to look for products that do a better job of protecting their money. They’re willing to give up some growth potential to guarantee a comfortable, worry-free retirement. For decades GICs have been the product of choice for risk-averse investors. GICs do secure your money, but after losses due

How much income will $100,000 pay you in retirement?

Many financial calculators spit out a number to answer the question ‘how much is enough?’  Those that know me know that I wonder whether there is really such thing as enough? The problem is retirement is not a number.  Whatever the number is, it does not really solve our problems.  In fact it just leads

Unlocking LIRA and Pension Money

Recently I was working with a client of mine who is now entering a phase of his retirement where he wants to start spending the money in his Locked In Retirement Account or LIRA. We started the process of unlocking LIRA money which made me think it might of benefit if we did a quick

Everything You Need to Know About Life Annuities

A life annuity is a contract provided by a life insurance company that pays an investor a guaranteed income for a lifetime. No matter how long the investor (annuitant) lives, he/she is guaranteed never to outlive their income from a life annuity. It’s not much different than having a lifetime defined benefit pension plan. Essentially