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For Your Information Stepping up retirement income – GIC ladders still work

Stepping up retirement income – GIC ladders still work

“In our particular situation, my wife and I didn’t have formal work pension plans,” says the 66-year-old Winnipegger. “So preserving capital is very important while trying to earn enough income to meet our established goals.” To serve all three goals, one of their key strategies is a cash wedge that involves staggering five years’ worth of income needs inside their RRSP in guaranteed income certificates (GICs) with maturities from one to five years. This involves a laddering technique similar to a bond ladder to take advantage of the best rates available every year.

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