Living longer: Five financial realities Canadians need to face
By Rob Carrick of the Globe & Mail
In his article on longer lifespans, Rob Carrick has outlined 5 areas of concern for present and future retirees.
In the paragraph titled "This is the dawning of the age of annuities" Mr. Carrick has very succinctly pointed out that we are all living longer and need to provide ourselves with guaranteed financial protection.
Two Main Concerns
Our 2 main concerns will be the inability of government to preserve present day pensions and how to pay for our old age medical care. Annuities can help answer both these questions as they pay for as long as you live. And the older you are, the greater the monthly payment whether using RRSP money or savings.
And as Rob says, they have "zero-stress ownership experience."