January 2019-Consider your retirement income strategy. Many retirees worry about creating reliable income that will last the rest of their lives. While some are lucky enough to have defined benefit pensions, most of us have to create this for ourselves. A study shows that those approaching or in retirement are more afraid of running out of money than they are of dying. With Canadian seniors living in poverty increasing (especially single women), this is most concerning. Many seniors have not saved enough for retirement and investing conservatively has almost a 23% probability of running out of money before dying by withdrawing 4% (adjusted for inflation on a joint and last survivor basis) of initial capital every year. Guaranteed lifetime income options to supplement government pensions should be considered to ensure at least your basic income needs will be met. Fortunately, there are good options available that are worthy of consideration.