Starting the Transition: Managing Risk

I turned 65 in February and wife Mary is about the same age. In common with many people our age, we are at the start of a transition from accumulating retirement savings to converting those assets into an income stream that supports our lifestyle and our vision of retirement. We have spent considerable amount of time addressing these challenges which we will discuss in later articles. As Mary and I begin this “assets to income” conversion, we have been very careful to identify and plan for the risks to our retirement income. The following list developed by Peter Drake, Vice President, Retirement and Economic Research, Fidelity Investments Canada provides a good overview of things you should consider.