Many investors are being forced to adjust their retirement income plans after entering retirement to fund necessary expenses, according to a new research.
Sun Life Financial Inc., Wellesley Hills (TSX/NYSE), published this finding in a summary of results from a survey of close to 500 financial advisors across the country.
Seventy-seven percent of advisors responded that clients needed to adjust their retirement income plans to fund essential needs such as health care.
The poll found a significant gap between investors’ ambition to have a well-funded retirement and their knowledge of the best practices to accomplish that. The use of variable Annuities in retirement planning could help investors reach their goals more easily, the poll found.