Should A Lifetime Annuity Be Part Of Your Retirement?

Plenty of retired people ask, “Should I buy a low-cost lifetime annuity through Vanguard?”

I explore the pros and cons.

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Andrew Hallam

I’m a financial columnist for Canada’s national paper, The Globe and Mail, as well as for AssetBuilder, a financial service firm based in Texas. I’m also the author of Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School (2nd Ed. Wiley 2017) and The Global Expatriate’s Guide To Investing: From Millionaire Teacher to Millionaire Expat (Wiley 2015). My mission is to educate, motivate and inspire people on basic retirement planning and best practices for investing, using evidence-based strategies. I'm happy to comment on your questions. However, please read the Terms of Use, Privacy Policy and the Comments Policy.

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1 Response

  1. Alan says:

    I am an expat Canadian living and working in Indonesia. I have a number of investments in Canada including RRSP’s and TFSA’s. I have not contributed to these accounts since I left Canada 2.5 years ago. I have been told by my investment advisor that my beneficiary designation (my wife) is no longer valid because I am living out of the country and I need to sign a document stating that my beneficiary needs to designated as my estate. Do you know if this is a requirement for all Canadian expats? My advisor says that the rules are dictated by the country in which you reside. I have been reluctant to change my beneficiary designation since I do not know what tax implications it will have for my wife.

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