Here are my comments to a June 11, 2018 article in the Toronto Star “Planning can help you make sure your retirement savings will last” by Ellen Roseman.
Good article but there are some additional concerns that need to be included in this conversation.
The 1st is health. I have clients who saved like mad but now, in their early seventies one partner is too sick to do anything except go to doctors or the hospital. Why, despite advice to the contrary, did they insist on continuing to save for a future they won’t have?
How do you know your future health condition? Or that of your partner? So why are you waiting to take the CPP?
And will you have the mental capacity or interest to direct an investment program? You are far better off to upload this problem onto independent shoulders. That is what an annuity is!
I read a lot of advice from columnists, no offence, who have absolutely no real life experience dealing with clients face to face. So they cannot possibly KNOW what are the clients real concerns. And I presume Mr. Vettese falls into this category, even though I agree with some of his comments.