www.investmentadvisor.com/Issues/2008/November%202008/P -
[Cached Version]
Published on: 11/1/2008
Last Visited: 12/18/2008
That might be fine for people who are going to work all their life, retire, and get a pension or Social Security and supplement it with their savings," says Michele Van Leer, senior vice president and general manager of Sun Life Financial's Retail Insurance and Annuity Division.
"What our survey shows is that not everyone is going to do thatâ€"people are going to retire and their income needs are going to vary.
Maybe they're going to start that second job.
Maybe they're going to start a business, travel, or purchase a second home."
Van Leer is referring to a new index recently released by Sun Life Financial.
...
"We were surprised that four out of the five reasons that people plan to continue to work beyond age 67 weren't financial in nature," notes Van Leer.
"It used to be all about fear in not saving enough, but people working into their 70s want to stay mentally engaged, love their jobs, want to further their careers, and want to be close to people.
Those four reasons were very compelling and seem to withstand all kinds of economic cycles," she adds.
...
"We came out with a product called Income on Demand where individuals don't have to take a stream of income when they retire," says Van Leer.
...
That might be fine for people who are going to work all their life, retire, and get a pension or Social Security and supplement it with their savings," says Michele Van Leer, senior vice president and general manager of Sun Life Financial's Retail Insurance and Annuity Division.
"What our survey shows is that not everyone is going to do thatâ€"people are going to retire and their income needs are going to vary.
Maybe they're going to start that second job.
Maybe they're going to start a business, travel, or purchase a second home."
Van Leer is referring to a new index recently released by Sun Life Financial.
...
"We were surprised that four out of the five reasons that people plan to continue to work beyond age 67 weren't financial in nature," notes Van Leer.
"It used to be all about fear in not saving enough, but people working into their 70s want to stay mentally engaged, love their jobs, want to further their careers, and want to be close to people.
Those four reasons were very compelling and seem to withstand all kinds of economic cycles," she adds.
...
"We came out with a product called Income on Demand where individuals don't have to take a stream of income when they retire," says Van Leer.