Running out of savings is a common concern for Canadians leaving the workforce. There may soon be a new financial tool to help address it.
Decumulation
These emotions get in the way of saving and planning for the future
February 14, 2023
Reasonable people can be illogical when it comes to saving and spending, says Dr. Marina Rain, PhD in psychology and manager of behavioural economics at Sun Life. “We often make irrational decisions that defy what traditional economic models predict, namely that our decision-making maximizes financial benefit.”
Leave a legacy or pursue bucket lists? Comprehensive retirement planning balances needs and wants
February 02, 2023
Retirement planning is challenging enough when figuring out how much money is required to cover day-to-day expenses over decades. Other goals emerge, like taking on “dream” ventures or activities, and passing something on to loved ones or causes.
Has traditional retirement been retired?
December 01, 2022
For many Canadians, the future of retirement will be a continuous process, not a single point in time. People are living much longer. Many are leading more active retirements that may not actually involve stopping work entirely. They may drift between retirement and the working world and back again.
Are Canadians ready for long-haul retirement?
November 23, 2022
Retirement planning is inherently an exercise in foresight. Yet people’s retirement plans can be myopic, focused too much on the early years of travel considerations and hitting the links. Often overlooked is later retirement.
Sustainable retirement income is a puzzle. Here’s how to solve it
May 27, 2022
Take a giant puzzle, spread the pieces across your kitchen table, and try to put it together without looking at the image on the box. That’s how some people feel about retirement income planning. They don’t know how everything fits and they can’t see the big picture.