Guaranteed income for life - it’s easier than you think

Dawn Luhning |

I recently received an email from one of my service providers for a product that I’ve been using with clients who are looking for worry free investing when it comes to their retirement. Empire Life has been one of my go to companies for providing clients with a product that can guarantee them income for life. In recent months, unless you’ve been under a rock, you know that the markets have been volatile to say the least. When you’re getting close to retirement, you often need a strong stomach to make it through the ups and downs. Watching your online access and opening your account statements can be disheartening. When you’re investing and have a longer time frame you can, if you’re diversified properly, ignore these things and make it through ok.

But there comes a time when you might want to be considering a product that can offer you guaranteed income for life. Even for some of your investments to cushion your CPP payments and OAS payments, and any other pension payments you might have. If you don’t have a pension, like me, it can be even more important. I often ask clients, 'what's your magic # for retirement?'. The question's answer is the amount of monthly income that you'd like to have to make for a comfortable retirement.

A guaranteed income product can help. You do pay a bit extra in fees to have an investment in segregated funds but, sometimes paying a bit more for security is perfectly fine, and warranted.  

If you have some non- registered and registered funds laying around, in mutual funds, and you’re tired of the ups and downs, let’s talk about guaranteed income for life and the peace of mind it can give you. Starting in a plan like this now can help you build a comfortable nest egg when you need it most.

Watch this video

This case study is also helpful.

I wish you the absolute best for the holiday season - Merry Christmas and Happy New Year !

~ Dawn