Not exact matches
Annuities may also be worth considering for part
of your assets, depending on your
age, investment experience, the time you want to devote to your investments, your
desire to leave an estate to your heirs and other aspects
of your
retirement investing.
You can also determine the average
retirement savings you will need to build per year before you reach
retirement age to reach your
desired level
of retirement income.
If you're getting close to your
desired retirement age, now is the time to check your available options to make sure you're getting the most out
of your
retirement savings and investments.
Enter your variables, including current
age,
desired retirement age, income and the amount
of income you wish to replace at
retirement.
The six inputs are your current
age, martial status, current income, planned
age of retirement,
desired annual
retirement income, and through what
age you want to have income.
Retirement annuities may be worth considering for part
of your assets, depending on your
age, investment experience, the time you want to devote to your investments, your
desire to leave an estate to your heirs and other aspects
of your
retirement investing.
These costs reflect the amount
of assets required today (at
age 55) to fund the
desired retirement starting at
age 65, assuming the couple did not make any additional contributions to their savings in the future.
You can also go a step further and use a
retirement calculator to help estimate how much
of a gap there might be between what you're saving now and what you may need to save, based on factors like your current
age, your
desired retirement age, and how much you're currently putting away.
The Report acknowledged the vulnerability
of pensioners but maintained that
retirement benefits can be accessed from other sources (Canada / Quebec Pension Plan, Old
Age Security and Guaranteed Income Supplement programs, and possible private savings and RRSPs) and concluded by noting that while greater protection might be
desired by some, that protection «must be balanced against the interests
of others» (Report, page 98).
Use the sliders at the top
of the calculator interface to enter your (or your spouse's) current
age, your
desired retirement age, your salary and annual
retirement savings, and that's enough for the calculator to draw up a figure on the corresponding chart, tracking how much you'll have saved up for your goal every five years until
retirement.
The duration
of the policy depends on your current
age and your
desired retirement age.