An interesting article from Sun Life explaining the virtue of a life annuity as guaranteed income.
But there should be no set arbitrary amount or percentage to invest. We live in very volatile times, politically and financially, and people are scared and worried about the future. The US which dominates our business landscape, is locked in an election where the majority of people hope that no one wins!
If you have sufficient guaranteed income from an employer and the government and feel you can handle it,jump into a RRIF with investment funds. But don’t put money in there that you will possibly need to top up your income down the road.
When money, and therefore income, is lost at the latter stages of your life, you don’t have the time to replace it.
Read full article from Ottawa Metro by Talbot Boggs – Consider annuities for a secure retirement income.
Use our Annuity Calculator to instantly calculate your annuity income online. To find out approximately how much Guaranteed Income For Life you can receive.