Retirement Planning Wisdom
National 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 MoreRempel Maximum – The Story of Joe & Rich
How can your life really be different if you focus on maximum wealth-building principles? It’s not about the money. It’s about your life. This story is an extreme version of the life of an ordinary person managing his money exceptionally. The concepts are in my last post, “Rempel Maximum – 5 Steps to Becoming a…
Read MoreRempel Maximum – 5 Steps to Becoming a Multi-Millionaire
Remember the show “Who wants to be a millionaire?” Are you the kind of person that wants to build some serious wealth? Live an exceptional life? Be financially free? I don’t mean just a comfortable amount. I mean a lot – like being a multi-millionaire. The truth is, average people can become very wealthy just…
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 MoreSmith Manoeuvre
The Smith Manoeuvre – Is your mortgage tax deductible? The Smith Manoeuvre is an efficient strategy to use equity in your home to invest for your future without using your cash flow. It converts your mortgage over time into a tax deductible investment credit line. Most Canadians are searching for a feeling of financial security,…
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 MoreNational Post Article: Can Gerard and Penelope afford to leave the corporate grind before reaching 60?
The National Post asked me to review the retirement plans of Gerard and Penelope, a couple in their late 50s eager to leave the corporate grind behind. They hope to retire within the next two to four years with $90,000 per year before tax to support their lifestyle, which includes $4,700 in monthly expenses and…
Read MoreCan You Be Confident in the Stock Market? (UPDATED)
Which is true? To invest effectively for your future, it is vital to be confident in your investments. Here is the historical data to give you a clear picture of what long-term investors can expect. By the end, you’ll have a clearer answer to the big question: Is the stock market the best way to…
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