Retirement Planning Wisdom
“When can I retire with the lifestyle I want?”: Toronto Financial Planner Ed Rempel Answers the Most Common Question Amongst Canadians
I was recently interviewed by Business News This Week about one of the most common questions Canadians ask me as a financial planner: “When can I retire with the lifestyle I want?” It’s the question that comes up again and again, yet the real issue isn’t when you can retire—it’s how you can create and…
Read MoreWhy Renting Could Be Your Secret to Smarter Wealth Building
Owning a home is unaffordable for many people today. Here is some good news! If you rent, you can grow your wealth as fast or faster using the same 2 ideas that benefit homeowners. Tenants have several major advantages over homeowners for wealth building. Many homeowners think their home is their best investment. But that…
Read MoreNational Post article: Divorce wiped out her savings. At 65, should Kate start drawing CPP?
The National Post asked me to review the retirement and financial situation of Kate*, a 65-year-old who recently relocated to Alberta after a costly divorce wiped out her savings. She’s determined to rebuild her life and finances, but she has questions: “Can I realistically buy a house, or is renting my best option? How do…
Read MoreHow to Make Your Home a Good Investment
Wait. Don’t people say, “Your home is your best investment? For many people, their home may be their only major investment. For them, that old conventional wisdom might be true. But that is unfortunate. It is easy to find better investments with dramatically higher long-term returns. Despite the lower returns, homeowners on average are wealthier…
Read MoreNavigating the Financial Advisor Title Trap: Why Fee-For-Service Planners Are the True Superheroes
Are you ever confused by all the different titles that financial planners and advisors use? What types of advice and services do they offer? Which one offers what you are looking for? When you have real worries or questions about your money, “who you gonna call?” Who is the super-hero of advice? In my latest…
Read MoreShould 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 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…
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