Income

Strategies for Expenses, Costs and Income in Retirement

Summary of the event produced by The Globe and Mail’s Events team. The Globe editorial staff was not involved.

Canada’s inflation rate climbed to 6.7% in March 2022, the highest since 1991. At the same time, interest rates are rising and markets are reacting to the fallout from the pandemic, the conflict in Ukraine and the problems of Supply Chain. These forces are changing the outlook for retirement income and savings, both positively and negatively.

The Globe and Mail hosted the Money Matters live event on June 20 to provide tactics for retirees looking to assess their spending, goals and income now and in the future.

Did you miss the live event or want to watch it again? See the video player below.

Erica AliniThe Globe and Mail’s personal finance journalist, kicked off the event with an interview with Kelley Keehnpersonal finance educator and bestselling author of Tell me about money. Ms Keehn explained how the pandemic has affected pension plans, what rising interest rates and inflation mean for retirement finances and strategies for retirees with mortgages.

Following the discussion, Ms. Alini interviewed Jackie Porter, Certified Financial Planner and Founder of The Jackie Porter Team. The interview focused on the different phases of retirement and the costs associated with each, such as health care and personal support workers.

A round table followed, moderated by Rob Carrick, personal finance columnist for The Globe and Mail. The panel discussed investment options, accounts and strategies for generating and preserving retirement income. The group included Som Seiffounder and CEO of Purpose Investments; Jason Pereirapartner of Woodgate Financial Inc.; Alexandra MacQueen, director of content development at FP Canada; and Julia ChungPartner, CEO and Senior Financial Planner at Spring Planning.

To conclude the event, Mr. Carrick led a conversation on wealth transfer, discussing strategies for parents and grandparents to financially support the next generation with costs such as housing. The interview featured George Wilmot, vice president of tax, retirement and estate planning at CI Global Asset Management; and Mallory McGrathfounder and CEO of Viive Planning.

Watch the full event below.

The Globe and Mail featured the event with support from Purpose Investments. To learn more about upcoming Globe and Mail events, visit www.globeandmail.com/events.