News, Analysis, and Research for the Retirement Planning Industry

What is retirement income success?

In Uncategorized on 18 January 2011 at 4:18 pm

The current Life&Health Advisor has an excerpt of a new white paper by SunLife’s Stephen Deschenes, “What is retirement income success?”

It is a concise, well-written primer for pre-retirees that explains major retirement risks, the importance of diversifying income sources, and the pros and cons of each source.

The prospect of generating income for the rest of their lives can be overwhelming, even for pre-retirees who have conscientiously saved. Stephen’s advice – to determine core expenses and plan for them using sources that provide income guarantees – is a good approach to the planning process. What constitutes “core expenses” may vary from person to person (or even “within” a person as circumstances change), but accounting for basic needs in retirement will alleviate much of the anxiety that comes with planning for the “post paycheck” phase of life.

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