34 Primary Pillars to Retirement

Building up a diversity of retirement avenues is a great strategy to reduce risk.  Accumulating wealth and income in all “three pillars of retirement” is an analogy usually used to describe the most common sources of retirement income.  Think about entire retirement income as sitting on a 3-legged stool.  An individual with all three legs of the stool having a substantial base will be much stronger, especially if one of the ‘legs’ or retirement pillars falls shorter than the others.

The most common sources of retirement income to Canadians fall mainly into three categories:

1. Government Administered Programs
2. Employment Work Arrangements
3. Personal Savings