Canadian Personal Finance News | January 2017

"It’s a little shocking to realize that 1,100 Canadians are turning 65 every day. Of that number, about 500 will be relying on their own savings for much of their retirement income security (the rest are defined benefit participants or low-income workers). Unfortunately, very few of them are qualified to implement an efficient decumulation strategy on their own. The simple reason is that decumulation is a lot more complicated than it looks."

"We live in a world with abundant choices. Every product or service has reviews. Some people say the product or service works great. Some people say it’s the worst. When you must have absolutely the best bang of your bucks on everything, you can drive yourself nuts looking for the sweet spots. However, if you simply pick what works even though it may not be “the best” you avoid the stress altogether"

December's list of the best Canadian personal finance news, articles, and blog posts from around the internet, expertly curated for interest and relevance.

"A single retirement finance strategy is unlikely to be optimal in all three stages. Because we can't predict the future with any accuracy we won't be able to establish these strategies firmly until we reach the transition periods preceding them. We can, however, “pencil in” our best guess for now and change our plans as warranted.

To complicate planning, some important decisions must be made in early retirement whose impacts won't be felt until later stages."

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