Selene finance1/8/2024 Insured payout defined-benefit (DB) workplace pensions that were popular a few decades ago have given way to defined-contribution pensions invested entirely in the broader markets. Canadian retirement nest eggs have rarely had as much exposure to volatile equity markets. But some advisers warn that these products have their drawbacks including the high cost – making it important for clients to consider the entire picture.Ī recent RBC Insurance survey found almost half of the participants (47 per cent) said a lack of guaranteed income and outliving their savings is a concern in retirement. Investors nervous about how high inflation and market volatility will affect their retirement income may be considering the security that segregated funds provide as they invest like mutual funds but guarantee part or all of the principal. Is the guaranteed investment protection of seg funds for retirement worth the cost? Helen Burnett-Nichols reports for Globe Advisor. “They need to crunch the numbers, do the math, understand the implications and be ready and prepared for a return.”įor returning retirees, a potential misstep can be miscalculating the cost of living in Canada after living elsewhere for years, he says. “It’s important for everybody to plan ahead for their retirement, but this is much more so when people are moving back to Canada,” Mr. Due to a demographic shift, inquiries have been steady from overseas professionals entering the retirement phase, he says. in Markham, Ont., works with several clients employed abroad temporarily, including senior executives with multinational firms and teachers. Jason Heath, managing director at Objective Financial Partners Inc. They can benefit from advanced, customized planning around investments, taxes and cost of living considerations. The desire to live closer to family, lifestyle reasons, or worries about future health care costs have led many ex-pat professionals who have built their careers in other countries to choose to return to Canada for their retirement years.īut for returning retirees who have accumulated assets elsewhere, the move back home can come with complexities, advisers say. ![]() If you’re interested in being interviewed for this feature, and agree to use your full name and have a photo taken, please e-mail us a few details about your retirement life so far at: What to consider before moving back to Canada to retire Brenda Bouw reportsĬalling all retirees: Are you a retiree interested in discussing what life is like now that you’ve stopped working? Globe Investor is looking for people to participate in its Tales from the Golden Age feature, which discusses the realities of retirement living. Globe Investor spoke to five retirees across Canada about how they’re spending the summer and making the most of their golden years – economic threats be damned.
0 Comments
Leave a Reply.AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |