During the past two decades, Canadian baby boomers have been focused on saving for retirement. The investment industry, not surprisingly, has focused their products and services largely on strategies to meet this goal. Retire on your terms. During the next two decades, however, almost 10 million baby boomers will turn 65 (Source: Statistics Canada), facing the challenge of turning these savings into income for retirement. This comes at a time when unprecedented market volatility has left investors asking the questions:
How do I take my retirement nest egg and convert it into an income stream that will last my lifetime?
How will stock market volatility affect my ability to draw income?
How do I deal with the emotional impact of no longer receiving a paycheck and having to live off my own money?
How will inflation and taxes affect my income?
What impact do changes to government pensions have?