The added cost of security from insurance products leaves investors with less money invested to grow their portfolios to retirement, experts say
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Meanwhile, those going it alone without a workplace pension see paltry yields on guaranteed fixed income such as guaranteed investment certificates that are being swamped by inflation – pushing investors up the equity market risk-ladder for unpredictable dividend income. “Annuities can supplement other guaranteed income streams such as Old Age Security , Canada Pension Plan , or Quebec Pension Plan ,” Ms. Soo says.
David O’Leary, founder and principal at Kind Wealth in Toronto, and a former mutual fund analyst, warns the added cost of security from insurance products leaves investors with less money invested to grow their portfolios in retirement.
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