Retirement Income
Should I Delay CPP & OAS Until Age 70? – Complete Answer with Real-Life Examples (Updated)
Most seniors start their CPP and OAS when they retire or at age 65, without evaluating the options. The truth is that many seniors would benefit from delaying CPP until age 70. Here is how you can figure out what is best for you. The government pensions, CPP and OAS, are full of cool opportunities…
Read MoreNational Post article: Should Douglas, 66, start tapping his RRSPs and boost his TFSA to minimize tax?
The National Post asked me to review the retirement plan of Douglas*, a 66-year-old from Ontario enjoying a modest, comfortable lifestyle with his wife in their debt-free $900K home. He’s getting conflicting advice: “Should I start withdrawing from my RRSP to grow my TFSA and non-registered investments — or just let everything keep growing?” With…
Read MoreNational Post Article: Couple wonders – Is saving $500,000 in investment income enough for couple to meet their retirement goals?
The National Post asked me to review the retirement plan of a mid-career couple from Ontario, Kathy and Trevor, who are trying to simplify their finances and meet some big goals before Kathy retires at 55. Kathy is 50 and Trevor is 53. They live in the GTA and have two adult children about to…
Read MoreHow to Reliably Maximize Your Retirement Income – Is the “4% Rule” Safe?
You want to retire soon. What is the best way to setup your retirement income to give you the maximum cash flow that will reliably last the rest of your life? Many financial planners use the “4% Rule”, which says that you can, for example, withdraw $40,000/year rising by inflation for life from a $1…
Read MoreNational Post Article: Couple wonders – Start investing or stick with rental income to build nest egg?
The National Post asked me to review the retirement plan of a blended-family couple in their 40s from British Columbia. Jennifer is 40 and Roland is 49. They live on a rural property with a hobby farm and have four children between the ages of 18 and 22. With three rental properties, $180,000 sitting in…
Read MoreWhen Can I Retire With the Lifestyle I Want?
When can I retire with the lifestyle I want? That’s the #1 priority for our clients—based on my experience creating thousands of financial plans over the last 25+ years. They want financial freedom. It’s what we all really want. But you need a retirement plan to get there. It won’t happen on its own. Creating…
Read MoreRealizing You Somehow Became Wealthy
I often talk with people who realize—almost by surprise—that they’ve become wealthy. They never really thought of themselves as wealthy, but after years of saving and investing effectively, it hits them: I’m actually wealthy. And let me tell you—being wealthy feels different. In my latest YouTube video, podcast episode, and blog post I talk about:…
Read MoreRetiring Right Before or During a Recession. Debunking “Sequence of Returns Risk”. (Canadian Financial Summit 2024)
Bloggers and advisors constantly warn about the “Sequence of Returns Risk”—the fear that retiring right before or during a market crash will drain your savings too quickly. This fear often leads retirees to make poor investment choices, resulting in: But how real is this risk? And do the conventional solutions—like investing in bonds or following…
Read MoreNational Post Article: Now retired, how do we withdraw funds without running out of money?
The National Post asked me to review the finances of Walter and Joanne, a retired couple in their late 60s, who have been struggling for years with the same question: How do we draw income from our investments in the most tax-efficient way—so we can maintain our lifestyle without running out of money? They’ve built…
Read More7 Best Ideas to Optimize the Smith Manoeuvre (Canadian Financial Summit 2024)
With its quirky name, the Smith Manoeuvre might sound unconventional, but it’s a strategy that truly works—when done by the right people, in the right way, over the long term. From crafting over 1,000 professional Financial Plans, I’ve seen firsthand how the Smith Manoeuvre can transform your finances, helping Canadians use their home equity to…
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