How your portfolio needs change in retirement

The introduction of regular withdrawals means that you have to pay more attention to reducing volatility.

Michael Keaveney 26 January, 2016 | 6:00PM

Note: This article is part of Morningstar's January 2016 Five keys to retirement investing special report.

This past year, the number of Canadians aged 65 and over was, for the first time, higher than the number of children aged 14 and under. Just over 16% of us are at least 65 years old, and the growth of this age group is about four times the growth of the general population. While we are not an outlier among developed nations in these demographic trends, there's no doubt that retirement is increasingly on the minds of more Canadians. Among the numerous transitions a retiree makes is in their approach to investments -- from accumulating financial assets to drawing upon them in their new life stage.

As Canadians reach a "standard" retirement age of 65, our median life expectancy is 20 years. At that point, especially for those among us without a defined benefit pension plan or other annuitized income, we are likely to have started considering the very real risk of outliving our money.

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Michael Keaveney

Michael Keaveney  Michael Keaveney, CFA, is Director, Investment Management at Morningstar Associates, Inc.

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