In a recent article in the Financial Post “Financial advice from Wayne Gretzky” the NHL’s all-time leading goal scorer called his best investment probably an income-averaging annuity.
Over the years, clients have bought universal life insurance, investment funds and other products, all the time looking for security, along with income.
But security and a non guaranteed income do not go together ; it is one or the other.
If you buy funds, whether alone or with a universal life policy, you must expect market fluctuations. So if the security and comfort of a regular income is what you need , then look at an annuity.
Until you remove risk, it’s not planning ….it’s hoping.
Click to view the best 2012 annuity rates in Canada. To calculate your annuity income please use our Annuity Calculator.