How you’ll spend in retirement can typically be captured in an illustration known as the “retirement spending smile.”
- At the beginning, your spending will be high as you enjoy your hard earned savings.
- In the middle, your costs will likely decline as you have fewer liabilities, such as a mortgage, car payments or other outstanding debt.
- Finally, spending can go up again after age 75 as your health and long-term care costs rise. Knowing this pattern can help you plan for a lifetime of goals.
Talk to your advisor today to learn more about how the Manulife Goals-Based Investing Program can help you be prepared for the retirement road ahead.
1 Manulife Canadian Segment GBI-Modelled Actuarial tables.
2 2017 Survey of Household Spending from Statistics Canada.
4 An all-inclusive coverage, single, international trip for 12 days. Manulife CoverMe https://insttrip.manulife.com/
7 https://hoopp.com/docs/default-source/about-hoopp-library/advocacy/retirementsecurity-longtermcare-feb2018.pdf?sfvrsn=397a7d47_2 8 Manulife Canadian Segment GBI-Modelled Actuarial tables.
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