Category Archives: Retirement Income

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

Investing for retirement income

Congratulations. You’ve laboured for decades so that you can enjoy a comfortable retirement. Or, maybe you’re retiring in a few years and are looking forward to reaping the rewards of your hard work. Either way, you have some mighty important decisions to make – such as what investments to own, how to manage them tax