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  1. #21
    Senior Member olivaw's Avatar
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    Rino Racanelli, managing partner at MRH Financial Services suggests that annuities are most appropriate for those age 70 and up.

    https://www.theglobeandmail.com/glob...ticle23342537/

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  2. #22
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    Quote Originally Posted by olivaw View Post
    Rino Racanelli, managing partner at MRH Financial Services suggests that annuities are most appropriate for those age 70 and up.

    https://www.theglobeandmail.com/glob...ticle23342537/
    I think it's most appropriate for each person to make decisions based upon their unique financial situation, and a whole host of other factors.

  3. #23
    Senior Member olivaw's Avatar
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    Quote Originally Posted by JackJac View Post
    I think it's most appropriate for each person to make decisions based upon their unique financial situation, and a whole host of other factors.
    Fair enough. I think Racanelli was offering a "rule of thumb". Like any other "rule of thumb" it needs to be adjusted to reflect one's personal situation.

    Pensionize Your Nestegg, talks about Retirement Sustainability Quotient. If your RSQ is too low, you risk outliving your savings (what Moneygal refers to as longevity risk). You can increase your RSQ (decrease your longevity risk) by converting a portion of your assets to an annuity. Each situation is unique and depends upon factors such as age, portfolio size, desired withdrawal rate and desired legacy. IMO, the calculations are not excessively complex but those who don't enjoy math might consider hiring a fee-only financial advisor to help. .

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