Morneau Shepell partner advises how to make the most of life savings in Retirement Income for Life
TORONTO, Feb. 26, 2018 /CNW/ - More than one thousand Canadians turn 65 every day, making it increasingly urgent for retirees to establish good decumulation practices. In a new book called Retirement Income for Life, Frederick Vettese, partner and actuary, Morneau Shepell, advises Canadians on how to make the most of their life savings in retirement.
"Drawing down one's savings in retirement is something very few retirees do well, even with the help of professional advisers. Some retirees outlive their money and an even greater number deliberately underspend for fear of outliving their money," said Vettese. "Additionally, many retirees from both camps simply waste a substantial part of their wealth without knowing it. The waste is the result of employing inefficient drawdown strategies or spending more than necessary on investment fees. Most of the retirement planning literature to date has focused on the task of accumulating money rather than decumulating it."
Retirement Income for Life presents five clear strategies for making the most of accumulated life savings, and turning a sum of money into predictable retirement income that will last. In this new book, Vettese shows Canadian retirees how to take the anxiety out of decumulation and how to maximize multiple streams of retirement income to their best advantage, so that savings can be spent intelligently each year in order to last longer.
"I wanted to give Canadian retirees the best information so that they could understand and take action on their own financial future in what is increasingly a complex market," said Vettese. "I believe that by using the strategies in this book, retirees will ensure that their savings are maximized."
Retirement Income for Life will be available for purchase at amazon.ca, at chapters.indigo.ca and in stores on March 2, 2018. To find out more about the book and to use the retirement income calculator, a tool that helps determine how much income one can safely draw in retirement, visit morneaushepell.com.
About Morneau Shepell
Morneau Shepell is the only human resources consulting and technology company that takes an integrated approach to employee assistance, health, benefits and retirement needs. The Company is the leading provider of employee and family assistance programs, the largest administrator of retirement and benefits plans and the largest provider of integrated absence management solutions in Canada. As a leader in strategic HR consulting and innovative pension design, the Company helps clients solve complex workforce problems and provides integrated productivity, health and retirement solutions. Established in 1966, Morneau Shepell serves approximately 20,000 clients, ranging from small businesses to some of the largest corporations and associations. With more than 4,000 employees in offices across North America, Morneau Shepell provides services to organizations across Canada, in the United States and around the globe. Morneau Shepell is a publicly-traded company on the Toronto Stock Exchange (TSX: MSI). For more information, visit morneaushepell.com.
SOURCE Morneau Shepell Inc.