---
title: Empire Life Blog Empire Life Blog | Peter Wouters (2)
description: "<div class=\"bio-fr\">Directeur, Planification fiscale et successorale et planification de la retraite, Gestion de patrimoine<br/>Placements Empire Vie</div> (2)"
---

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# Insurance, Investments and Group Benefits

## Navigate life with confidenceTM

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## Peter Wouters

Directeur, Planification fiscale et successorale et planification de la retraite, Gestion de patrimoine  
Placements Empire Vie

### Recent Posts

## [RRIF transfers to spouse using segregated funds](https://blog.empirelife.ca/blog/rrif-transfers-to-spouse-using-segregated-funds)

[Investments](https://www.empire.ca/blog/topic/investments), [Personal Finance](https://www.empire.ca/blog/topic/personal-finance)

[![RRIF transfers to spouse using segregated funds](https://blog.empirelife.ca/hubfs/Blog_images/INV-Blog-images/RRIF%20transfers%20to%20spouse%20using%20segregated%20funds-GettyImages-478783434.jpg)](https://blog.empirelife.ca/blog/rrif-transfers-to-spouse-using-segregated-funds)

 By [Peter Wouters](https://www.empire.ca/blog/author/peter-wouters)

 Nov 26, 2020, 1:30:00 PM

Tom and Sharon have been together for about 8 years. This is a second marriage for both of them. Tom is semi-retired; Sharon is a retired schoolteacher. The couple are both wary investors; they still feel the pain of the big market correction in 2008–09. They moved their investments to segregated funds for the insurance guarantees including the ability to reset the minimum guarantees based on the growth on their investments. 

[Read More](https://blog.empirelife.ca/blog/rrif-transfers-to-spouse-using-segregated-funds)

## [Ten retirement myths series: Myth #10](https://blog.empirelife.ca/blog/ten-retirement-myths-series-myth-10)

[Investments](https://www.empire.ca/blog/topic/investments), [Personal Finance](https://www.empire.ca/blog/topic/personal-finance)

[![Ten retirement myths series: Myth #10](https://blog.empirelife.ca/hubfs/Blog_images/INV-Blog-images/Blog-10Retirement%20Myths10_GettyImages-929537264.jpg)](https://blog.empirelife.ca/blog/ten-retirement-myths-series-myth-10)

 By [Peter Wouters](https://www.empire.ca/blog/author/peter-wouters)

 Oct 9, 2020, 10:00:00 AM

The next retirement myth is an example of an inter-generational issue. It also goes back to the issue of when to start making and funding plans for retirement. 

#### **Retirement myth #10: I’m too** **young for critical illness or long term care coverage**

[Read More](https://blog.empirelife.ca/blog/ten-retirement-myths-series-myth-10)

## [Ten retirement myths series: Myth #9](https://blog.empirelife.ca/blog/ten-retirement-myths-series-myth-9)

[Investments](https://www.empire.ca/blog/topic/investments), [Personal Finance](https://www.empire.ca/blog/topic/personal-finance)

[![Ten retirement myths series: Myth #9](https://blog.empirelife.ca/hubfs/Blog_images/INV-Blog-images/Blog-10Retirement%20Myths9_GettyImages-491173276.jpg)](https://blog.empirelife.ca/blog/ten-retirement-myths-series-myth-9)

 By [Peter Wouters](https://www.empire.ca/blog/author/peter-wouters)

 Jul 16, 2020, 2:45:00 PM

Things often go wrong or take an unexpected turn even though you carefully planned what you were going to do. Robert Burns’ famous line basically said that the best laid plans of mice and men often go astray. That extends to intentions of staying on the job or finding paid work later in life. Here's retirement myth #9:

#### **Retirement myth #9:** Go back to work when there are not enough retirement savings

[Read More](https://blog.empirelife.ca/blog/ten-retirement-myths-series-myth-9)

## [Ten retirement myths series: Myth #8](https://blog.empirelife.ca/blog/ten-retirement-myths-series-myth-8)

[Investments](https://www.empire.ca/blog/topic/investments), [Personal Finance](https://www.empire.ca/blog/topic/personal-finance)

[![Ten retirement myths series: Myth #8](https://blog.empirelife.ca/hubfs/Blog_images/INV-Blog-images/Blog-10Retirement%20Myths8_GettyImages-1207265876-cropped.jpg)](https://blog.empirelife.ca/blog/ten-retirement-myths-series-myth-8)

 By [Peter Wouters](https://www.empire.ca/blog/author/peter-wouters)

 Jun 18, 2020, 9:00:00 AM

At the risk of sounding nitpicky, governments don’t pay for anything. Working Canadians do. Taxpayers do. Taxes are directed to certain areas of need. Growing needs and rising costs means that there isn’t enough public money to go around. That reality is hitting retirees and will hit them harder as time goes on.

#### **Retirement myth #8: The government will take care of any medical expenses**

[Read More](https://blog.empirelife.ca/blog/ten-retirement-myths-series-myth-8)

## [Everything you need to know about the Canada Emergency Response Benefit (CERB)](https://blog.empirelife.ca/blog/everything-you-need-to-know-about-the-canada-emergency-response-benefit-cerb)

[Investments](https://www.empire.ca/blog/topic/investments), [Personal Finance](https://www.empire.ca/blog/topic/personal-finance)

[![Everything you need to know about the Canada Emergency Response Benefit (CERB)](https://blog.empirelife.ca/hubfs/Blog_images/INV-Blog-images/Everything%20you%20need%20to%20know%20about%20CERB_GettyImages-871996576.jpg)](https://blog.empirelife.ca/blog/everything-you-need-to-know-about-the-canada-emergency-response-benefit-cerb)

 By [Peter Wouters](https://www.empire.ca/blog/author/peter-wouters)

 May 22, 2020, 9:30:00 AM

The outbreak of COVID-19 is having a significant impact on all Canadians. According to a Mar. 25th news release by the Dept. of Finance, "The Government of Canada is taking strong, immediate and effective action to protect Canadians and the economy from the impacts of the global COVID-19 pandemic. No Canadian should have to choose between protecting their health, putting food on the table, paying for their medication or caring for a family member."

[Read More](https://blog.empirelife.ca/blog/everything-you-need-to-know-about-the-canada-emergency-response-benefit-cerb)

## [Ten retirement myths series: Myth #7](https://blog.empirelife.ca/blog/ten-retirement-myths-series-myth-7)

[Investments](https://www.empire.ca/blog/topic/investments), [Personal Finance](https://www.empire.ca/blog/topic/personal-finance)

[![Ten retirement myths series: Myth #7](https://blog.empirelife.ca/hubfs/Blog_images/INV-Blog-images/Blog-10%20RetirementMyths7_GettyImages-660286750.jpg)](https://blog.empirelife.ca/blog/ten-retirement-myths-series-myth-7)

 By [Peter Wouters](https://www.empire.ca/blog/author/peter-wouters)

 Apr 9, 2020, 10:00:00 AM

Some rules of thumb and long held assumptions may work well while you are saving for retirement. Holding on to them when you are spending those savings during retirement, may become toxic to your financial health. The myth is that you’ll have enough money to last through retirement as long as the average rate of return matches your plan.

**Retirement Myth #7: Your money will last as long as the average rate of return is good.**

[Read More](https://blog.empirelife.ca/blog/ten-retirement-myths-series-myth-7)

## [Ten retirement myths series: Myth #6](https://blog.empirelife.ca/blog/ten-retirement-myths-series-myth-6)

[Investments](https://www.empire.ca/blog/topic/investments), [Personal Finance](https://www.empire.ca/blog/topic/personal-finance)

[![Ten retirement myths series: Myth #6](https://blog.empirelife.ca/hubfs/Blog_images/INV-Blog-images/Blog-10Retirement%20Myths6_GettyImages-617594054.jpg)](https://blog.empirelife.ca/blog/ten-retirement-myths-series-myth-6)

 By [Peter Wouters](https://www.empire.ca/blog/author/peter-wouters)

 Mar 17, 2020, 10:00:00 AM

I’m sure you can come up with a list of things that don’t fit the “set it and forget it” philosophy. Set the cruise control and forget it. Set the room temperature and forget it. Invest in a certain investment that has a particular risk associated with it and forget it. You need to make adjustments as the situation changes and as your needs and priorities change. Retirement income planning works like that.

 

#### **Retirement myth #6: You need the same amount of income, indexed for life.**

[Read More](https://blog.empirelife.ca/blog/ten-retirement-myths-series-myth-6)

## [Ten retirement myths series: Myth #5](https://blog.empirelife.ca/blog/ten-retirement-myths-series-myth-5)

[Investments](https://www.empire.ca/blog/topic/investments), [Personal Finance](https://www.empire.ca/blog/topic/personal-finance)

[![Ten retirement myths series: Myth #5](https://blog.empirelife.ca/hubfs/Blog-10Retirement%20Myths5_GettyImages-109726174-resized.jpg)](https://blog.empirelife.ca/blog/ten-retirement-myths-series-myth-5)

 By [Peter Wouters](https://www.empire.ca/blog/author/peter-wouters)

 Feb 20, 2020, 10:15:00 AM

The myth of never touching your capital starts when people are working and saving for retirement. Some become conscientious savers, never touching their nest egg. That mentality spills over into retirement. Changing habits can be hard.

#### **Retirement myth #5: Never touch your capital.**

[Read More](https://blog.empirelife.ca/blog/ten-retirement-myths-series-myth-5)

## [Ten retirement myths series: Myth #4](https://blog.empirelife.ca/blog/ten-retirement-myths-series-myth-4)

[Investments](https://www.empire.ca/blog/topic/investments), [Personal Finance](https://www.empire.ca/blog/topic/personal-finance)

[![Ten retirement myths series: Myth #4](https://blog.empirelife.ca/hubfs/Blog_images/INV-Blog-images/Blog-10Retirement%20Myths4_GettyImages-1175041374-resized.jpg)](https://blog.empirelife.ca/blog/ten-retirement-myths-series-myth-4)

 By [Peter Wouters](https://www.empire.ca/blog/author/peter-wouters)

 Feb 13, 2020, 9:30:00 AM

How much income will you need during retirement? The myths and misunderstandings continue, despite growing evidence and research that debunk them. Retirement myth #4: You need 70-85% of your current income in retirement.

#### **Retirement myth #4: You need 70-85% of your current income in retirement.**

[Read More](https://blog.empirelife.ca/blog/ten-retirement-myths-series-myth-4)

## [Ten retirement myths series: Myth #3](https://blog.empirelife.ca/blog/ten-retirement-myths-series-myth-3)

[Investments](https://www.empire.ca/blog/topic/investments), [Personal Finance](https://www.empire.ca/blog/topic/personal-finance)

[![Ten retirement myths series: Myth #3](https://blog.empirelife.ca/hubfs/Blog_images/INV-Blog-images/Blog-10%20Retirement%20Myths3_GettyImages-479665508.jpg)](https://blog.empirelife.ca/blog/ten-retirement-myths-series-myth-3)

 By [Peter Wouters](https://www.empire.ca/blog/author/peter-wouters)

 Feb 6, 2020, 10:45:00 AM

How much is enough? Books have been written on the subject of retirement and what you need to save. Myths abound on this question. Here’s one to consider: *I need $500K, $1M, $2M to retire.*

#### **Retirement myth #3: I need $500,000, $1 Million, $2 Million to retire.**

[Read More](https://blog.empirelife.ca/blog/ten-retirement-myths-series-myth-3)

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