GVO

With Canada’s boomers turning 60 this year, many more Canadians than ever before are approaching the retirement stage of life and looking forward to the freedom this time of life presents.

But that dream of an enjoyable and comfortable retirement could be threatened when they enter a period known as the Retirement Risk Zone.

A recent study commissioned by Manulife Investments and conducted by two York University professors, Drs. Moshe Milevsky and Tom Salisbury, examined the Retirement Risk Zone and its impact on retirement income. The Retirement Risk Zone is the critical period leading into and just after retirement when the retirement nest egg is most vulnerable to market downturns.

With this in mind, it becomes imperative that boomers approaching or in their early retirement, plan carefully with their advisor to navigate the Retirement Risk Zone to maximize their retirement income potential and help reduce the risks that come with a market downturn.

A solution that was recently introduced in Canada by Manulife Investments is a Guaranteed Minimum Withdrawal Benefit. This kind of product is a solution to the Retirement Risk Zone and has really taken off in the United States, where it was introduced just four years ago.

It’s popular because it can provide predictable and sustainable retirement income, protection if the markets don’t do well and the opportunity to grow your money if they do.

If you’re heading into retirement or you have recently retired, talk to us about a Guaranteed Minimum Withdrawal Benefit.

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