{"id":5447,"date":"2019-05-16T10:58:39","date_gmt":"2019-05-16T14:58:39","guid":{"rendered":"http:\/\/caissealliance.absoludev.ca\/?p=5447"},"modified":"2019-05-16T10:58:39","modified_gmt":"2019-05-16T14:58:39","slug":"counting-on-the-government-is-that-realistic","status":"publish","type":"post","link":"https:\/\/www.caissealliance.com\/en\/personal\/retirement-and-estate\/counting-on-the-government-is-that-realistic\/","title":{"rendered":"Counting on the government, is that realistic?"},"content":{"rendered":"

For most taxpayers, government retirement plans will cover less than half of their retirement needs. Don\u2019t believe it?<\/p>\n

\n

See for yourself\u2026<\/h2>\n

Frank is a 40-year-old who has never contributed to an RRSP. He works for a private company; his gross annual income is $50,000; and he\u2019s convinced that when he hits 65, his government annuities will be enough for a comfortable retirement.<\/p>\n

To maintain his lifestyle, he\u2019ll need at least $35,000 per year, which is 70% of his current gross income. In today\u2019s dollars, the government annuities to which he\u2019s entitled will only pay him $16,000 a year! Bye-bye beautiful retirement projects\u2026 in order to meet his financial needs, he will need $19,000 a year from personal savings \u2013 some 120% of the amount he\u2019s getting from the government. Someone\u2019s going to be in for a very unpleasant surprise unless those RRSP contributions are made!<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

For most taxpayers, government retirement plans will cover less than half of their retirement needs. Don\u2019t believe it? Frank is a 40-year-old who has never contributed to an RRSP. He works for a private company; his gross annual income is $50,000; and he\u2019s convinced that when he hits 65, his government annuities will be enough […]<\/p>\n","protected":false},"author":1,"featured_media":4321,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[117],"tags":[],"class_list":["post-5447","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-retirement-and-estate"],"acf":[],"yoast_head":"\nCounting on the government, is that realistic? | Caisse Alliance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.caissealliance.com\/en\/personal\/retirement-and-estate\/counting-on-the-government-is-that-realistic\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Counting on the government, is that realistic? | Caisse Alliance\" \/>\n<meta property=\"og:description\" content=\"For most taxpayers, government retirement plans will cover less than half of their retirement needs. Don\u2019t believe it? Frank is a 40-year-old who has never contributed to an RRSP. 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