Scared to spend your retirement savings? - GIC Wealth Management

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For Your Information Scared to spend your retirement savings?

Scared to spend your retirement savings?

Q: I’m 56, have no debt, make about $78,000 a year and own my townhouse. I will have a small defined benefit pension (about $17,000 per year) at 62. Right now I have about $450,000 in RRSPs, non-registered investments and pension combined. I plan to quit at 59, then work three more years at an easy job just to maintain my expenses. Then I’ll retire for real at 62 and work part-time.

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