The “Big Five” Canadian banks offer investment funds and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Let’s explore the best place for you to invest.
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Asset allocation in retirement
– myownadvisor.ca
Learn, save, invest and prosper with My Own Advisor.
If you think you’re confused about how best to de-accumulate assets to cover retirement expenses, you’re not alone. I’ve read countless articles about how to preserve capital while creating some sort of income stream to cover expenses in the golden years – but no two articles are alike. Unlike your asset accumulation years where there is some consensus related to maxing out your Tax Free Savings Accounts (TFSAs) and Registered Retirement Savings Plans (RRSPs) for decades on end (to financially secure your retirement), no such consensus exists for retirement withdrawal strategies.
Academic research seems to show thanks to William Bengen, a financial planner with a background in aeronautical engineering, that withdrawing 4% of your portfolio every year, and increasing your withdrawals with the rate of inflation, will ensure you not only have enough income to cover expenses but you likely won’t outlive your money over a 30-year retirement span…
If you think you’re confused about how best to de-accumulate assets to cover retirement expenses, you’re not alone. I’ve read countless articles about how to preserve capital while creating some sort of income stream to cover expenses in the golden years – but no two articles are alike. Unlike your asset accumulation years where there is some consensus related to maxing out your Tax Free Savings Accounts (TFSAs) and Registered Retirement Savings Plans (RRSPs) for decades on end (to financially secure your retirement), no such consensus exists for retirement withdrawal strategies.
Academic research seems to show thanks to William Bengen, a financial planner with a background in aeronautical engineering, that withdrawing 4% of your portfolio every year, and increasing your withdrawals with the rate of inflation, will ensure you not only have enough income to cover expenses but you likely won’t outlive your money over a 30-year retirement span…
