When it comes to retirement, Canadian retirees face a whole new reality.
Not only are they living longer than ever before, most don’t have workplace pension plans and they are also battling rising living costs because of inflation. What hasn’t changed, however, is the need for a steady stream of income, without the risk of running out of money.
Retirees need this kind of protection, Arruda emphasizes, using an example of $1-million invested in a 60/40 balanced portfolio. “An investor drawing 4 per cent of this portfolio for living expenses would have $40,000 a year to spend or about $3,300 a month,” he says. “Imagine what would happen in the event of a 2008-2009 bear market situation.
The reality is that retirees need a portfolio that’s one step ahead. For those looking to secure a steady stream of income, multi-asset portfolios make a lot of sense. Arruda advises: “You don’t want to be reactive – you want to plan.”Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing.
Advertising feature provided by Mackenzie Investments. The Globe and Mail’s editorial department was not involved.
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