This is a good article, describing what people think about at various stages of their life.Many would save more or invest differently but one question that remains,whatever your income is ,will it last?
You can have a RRIF where the government forces you to take an increasing percentage of your capital as you get older.It doesn,t know how long you will live,any more than you do,so how can it force you to spend your retirement money? Makes no sense to me and I handle RRIF,s and life annuities all day long at www.lifeannuities.com.Life annuities on the other hand guarantee you an income with no variation.The life annuity payment won,t go up and it won,t go down.You don,t have to worry about interest rates or the stock market.Many people express gratitude at the certainty.Your children can,t borrow from you and you,ll know,when you go to the bank,how much will have been deposited by the life annuity company.But you need to plan to have money saved in a RRSP or outside in another sort of investment.Then you have the capital to buy peace of mind with adequate guaranteed income through a life annuity.