When planning your retirement, worry about living a long life instead of dying young – MoneySense

Or, as American retirement guru Wade Pfau recently put it: “A retirement income plan should be based on planning to live, rather than planning to die.” The Michael James blogging recently highlighted that quote. Retirement is usually about planning for an unexpectedly long life, often exacerbated by inflation. After all, a 65-year-old Canadian woman can […]

Elon Musk says retirement savings could become ‘irrelevant’

Musk envisions a future of unprecedented productivity, where advances in artificial intelligence, energy and robotics deliver economic “abundance” and even a so-called “universal high income” that may not require long-term savings, Business Insider reported. “The good future is that everyone can have everything they want,” Musk said. “That would mean better medical care than anyone […]

Unlocking the annuity puzzle: why Canadians are avoiding what appears to be the perfect retirement tool: MoneySense

Financial planner Robb Engen recently tackled this puzzle in his Boomer & Echo blog: “Why Canadians Are Avoiding One of the Most Misunderstood Retirement Tools.” Engen notes that experts like Finance professor Moshe Milevsky and retired actuary Fred Vettese believe that “converting part of your savings into a guaranteed lifetime income is one of the […]