Mohammad S. Ripon, RRC - Desjardins Financial Security Independent Network

Are you approaching retirement and worried about outliving your savings?
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An annuity may be the solution you've been searching for.

What is an Annuity?
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An annuity is a financial solution that turns your savings into a guaranteed regular income for the rest of your life.

There are two main types of annuities:
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1. Life Annuity: Provides income for as long as you live—ensuring you can't outlive your money.
2. Term Certain Annuity: Pays a fixed income for a predetermined period.

Key Considerations:
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• Do you need guaranteed lifetime income, or would you prefer higher income in the early years of retirement?
• How will you integrate annuity income with other sources like employer pensions, CPP, OAS, and RRIF income?
• Do you want to leave money to a beneficiary?

Annuity Protection:
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Annuity income is protected by Assuris (a federally regulated non-profit organization).

Advantages of an Annuity:
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1) Guaranteed income for life
2) Protection from investment risk
3) Principal protection option
4) Financial security for the spouse and beneficiary
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For a complimentary consultation, feel free to reach out at 647-785-2860. 🙂

Interest Rate Cuts: Leader to Lagger
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SWITZERLAND
The Swiss National Bank started leading the race to cut rates by 0.25%. Traders are betting on another cut in June.

Current interest: 1.5% and Inflation: 1.4%

SWEDEN
Riksbank's 1st rate cuts on Wednesday's meeting lag the Swiss bank. Reduced by 0.25%.

Current interest: 3.75% and Inflation: 2.3%.

EUROZONE
The European Central Bank is expected to lower rates in June. Investors anticipate almost three cuts this year.
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CANADA
Kept its rate unchanged at 5%. Investors anticipate a 60% possibility of rate cuts in June.

Inflation jumped up to 2.9% in March because of upward price pressure.

UNITED STATES
No immediate rate cuts. Inflation jumped up to 3.5%. Anticipating another rate hike. Investors pushing back their bets.

BRITAIN
The Bank of England kept the interest rate unchanged at 5.25%. Market is priced for a cut in August. (Inflation: 3.2%)

NEW ZEALAND RESERVE BANK
No rate cuts until October /November.
Interest: 5.5% and inflation: 4%.

AUSTRALIA RESERVE BANK
Held rates steady at 4.35%. No rate cuts in 6 months mean inflation is upward there.

NORWAY CENTRAL BANK
Left rates unchanged at 4.5% and expects no move before December or even next year.

JAPAN
The Bank of Japan raised rates in March in its first hike in 17 years.
Interest rate (current): 0.05% and Inflation: 2.7%

Source: Reuters