I'm not talking about what months their planning on being down south or where they should play golf, talk to them about the most important Risk they face- Will they have enough money to live they way they need to.
Longevity protection is a term used more and more daily in my industry. By 2016 25% of the population will account for individuals over 60 ( Boomers). As the number of "retirees" increases government programs will experiance a negative impact; because of this individuals will have to assume an even greater role in planning for their retirement.
How do I protect myself from outliving my retirement assets??? This is the question you need to ask your parents, friends,colleagues anyone who is in their 40's & 50's...
Recently I sat my dad down and we discussed some products that would help address that question, today he has shifted some RRSP assets that he accumulated over his career to Sun Wise Elite Plus.
Many would know this product as Income Plus ( Manulife's product) but we went with a version offed through Sun Life & CI Investments.
After my extensive research into these products I have become passionate about this option for retirement planning. I am going to break these products down tomorrow for a more in depth look at the logistics of this strategy. Please be aware that there is a shift in the market place and products have obviously adjusted to fill the NEED.
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