The financial downside of living too longRelease Date: 06/11/2016 Source: Winnipeg Free Press Staff Reference: Jennifer Omstead
By: Joel Schlesinger
Long may you run — and hopefully, your savings will last, too.
In the retirement planning world, ensuring your money will outlive you is a top concern.
While it’s often less so for individuals who have a defined benefit pension plan because they’re guaranteed an income for life, fewer Canadians have access to these workplace plans.
Increasingly, it’s our RRSPs and other savings that fund the bulk of our retirement needs — sometimes over several decades.