Annuities Guarantee Your Needs

By Ivon T Hughes

What does this new generation of retirees need?

To be comfortable in retirement, retirees will need enough guaranteed income to cover their ever increasing and evolving needs - the basics, the extras and their health care costs.

  • Lifestyle costs - recreation, travel, home and car repair costs.
  • Legacy - leave an inheritance for your family.
  • Health - costs of medical expenses beyond Medicare like prescription drugs, therapies and personal assistance.
  • Living needs - money for day to day living for food and housing.

Living a Long Time

For a couple age 65 there is 71% chance of one of them experiencing a critical illness in their retirement years and 82% probability that one of them will require long term care.

Today's retirees can expect to live approximately 25% longer on average in retirement than their grandparents - to age 87 for men and 88 for women. What's more, 1 in 5 women and 1 in 6 men will live to 95 years of age.

Inflation has increased at an average of 2% per year over the last 10 years while health care costs increase at an average of 4% per year.

Phil Barker

About the Author

Phil Barker

Phil Barker is a leading expert on life annuities in Canada. has different financial products and has been a recognized authority since 1972.

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