The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

www.insideHALTON.com | OAKVILLE BEAVER | Thursday, September 12, 2013 | 14 Living longer than the average can lead to underfunding issues continued from p.13 These new life expectancy figures should be considered by both pension companies and individuals. Relying on them, however, may still leave pensions and individual savings underfunded. The problem is the rate at which life expectancies are rising. Both pension plans and individuals should allow for even longer lives than is currently anticipated. Our federal government has predicted that Canadians over age 100 will be one of the two fastest growing age categories. The trend is to live longer. Individuals are faced with the additional problem of estimating how long their retirement funds must last. Life is not an average figure; you could live longer than your age group. Some pensioners will live longer than average and some will not. Plan to live longer If an individual lives longer than most within their peer group, there could be serious underfunding issues and they could outlive their capital. Our recommendation is to plan that you may live longer than you might have originally expected. With this new mind-set some changes should be considered. First, work longer. The longer you work the more time you have to save with less time in retirement. Second, start saving more. Retirement is expensive. Use your working years to adequately save for the time when work stops. Third, just spend less. Decrease your spending during a longer retirement. A popular expression can be applied here. "If I thought I was going to live this long I would have taken better care of myself." This should apply to your finances as well. Prepare for a long life. We encourage you to take good care of your finances because that is what will allow you to afford an extended life. -- Submitted by Peter Watson, MBA, CFP , R.F .P ., CIM, FCSI., Certified Financial Planner LOWEST PRICE EVER! Stories with Eileen & Paul $ BEACHES III QUEEN MATTRESS #82261 398 September 21 - Molson Canadian Studio at Hamilton Place September 26 - Oakville Centre, Oakville Ontario Tour SEPTEMBER 2013 SAVE SAVE $400 MIRACLE EDGE ING AT SE E ST G BE ED For complete ticket infomation visit: www.jdelderandassociates.com SEE OUR NEW FLYER IN TODAY'S PAPER OR VIEW IT ONLINE AT BADBOY.CA! Free PANDORA Bracelet with $125 purchase of PANDORA Jewellery* September 19-22 *Free sterling silver PANDORA Clasp or Bangle Bracelet ($75 CAD retail value). Before taxes. While supplies last, limit one per customer. Charms sold separately. See store for details. Sterling silver charms from $29 Mapleview Centre Burlington, ON Upper Level Centre Court 905.632.5400 Some jewelry displayed patented (US Pat. No. 7,007,507) · © Pandora · PANDORA.NET