You’ve worked hard, saved smart, and now retirement is on the horizon. But one thought keeps you up at night: "What if I outlive my money?" You're not alone — it’s the number one fear for most retirees. In this post, we’ll explain how to avoid running out of money, even if you live to 100.
🔍 Section 1: Understand the Real Risk
- It’s not just about saving — it’s about how long your money lasts
- People live longer than ever before
- Inflation silently erodes your purchasing power
- Unexpected health costs, market downturns, and overspending can destroy even a “safe” retirement plan
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💡 Section 2: Start with the 3 Core Principles
- Know Your Number: Figure out how much you really need — not a guess, but a calculated number
- Diversify Income Sources: Government pensions (CPP/OAS) Private pensions (RRSP/LIRA) Personal savings, TFSA, and guaranteed insurance-based income
- Government pensions (CPP/OAS)
- Private pensions (RRSP/LIRA)
- Personal savings, TFSA, and guaranteed insurance-based income
- Account for Inflation & Longevity: Plan as if you’ll live to 95 or more. That way, you’ll never be caught off guard.
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🛡 Section 3: Insurance-Based Income — The Secret Weapon
One of the most overlooked tools for retirement security is Participating Whole Life Insurance or Annuities.
- Provides guaranteed, tax-advantaged income for life
- Builds cash value you can access
- Protects your family from legacy taxes
- Offers stability, especially when markets are down
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