Canada Pension Plan should allow 35% of a worker’s income to be replaced in retirement, up from 25%
IEF launches retirement cash flow calculator
Show clients the benefit of making regular contributions to retirement savings
Retirees face eight years of hardship after savings run out
Nearly 6 million Canadians could see their living standards drop by more than 20% in retirement
Help clients build a portfolio that provides a blend of different types of income
But not all news from recent RRSP surveys is good. Many retirees are vulnerable, while working clients are under financial stress
Young people are worried about their ability to save for retirement
BMO chief economist says low interest rates and returns mean that savings rates may need to reach 9% to meet long-term goals
With retirement a moving target, advisors need to talk about what retirement means for clients and what they want to achieve