Posts Tagged ‘retirement income’
How 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 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 MoreMoney123 Article: Mortgage vs. Retirement – What Should They Do?
A married couple are homeowners who currently save $1,000 a month after paying their bills. They are wondering if they should pay down their mortgage faster or invest their savings. As a financial planner for Global News’ Money123 online email newsletter, I answer reader questions about investing, managing your finances, and planning for your future.…
Read MoreYour FREE passes: See my talks at the #1 online event – Canadian Financial Summit 2024
The online Canadian Financial Summit is coming up the week of October 24-26. It’s the #1 personal finance event of the year. As a reader of the Unconventional Wisdom blog, here are your FREE passes for a limited time. With these FREE passes, you can watch all the talks for 48 hours. You can also…
Read MoreDo You Need Savings in Addition to a Government Pension Like OMERS?
When planning for retirement, many Canadians rely on a government pension like OMERS (Ontario Municipal Employees Retirement System) as their foundation. Do you need savings in addition to your government pension to maintain the lifestyle you want? A buddy called me from his car and said, “I’m driving. Will I get to my destination on…
Read MoreSmith Manoeuvre In A Financial Plan & The New OSFI Rules (Canadian Financial Summit 2023)
The Smith Manoeuvre is an efficient strategy to use your home equity to invest for your future without using your cash flow, while converting your mortgage into a tax-deductible debt. This method is known for its effectiveness in enhancing financial plans and can bridge the gap to achieving your retirement goals. New OSFI Mortgage Rules…
Read MoreNational Post Article: Couple has a compelling reason for wanting to break with the retirement mould
The National Post asked me to review the finances of a couple who want to retire in their 50s. They’d like to spend three to four months a year in a warmer climate. They have a $1.6 million investment portfolio that generates about $52,000 a year in dividends, they have a combined annual income of…
Read MoreNational Post Article: Snowbirds paying $15,000 a year in investment fees worry about growing their nest egg
The National Post asked me to review the finances of a newly retired couple who are snowbirds. They are currently paying $15,000 a year in investment fees, but feel they don’t get much tax or financial planning advice. They are also business partners who have worked in the U.S. One has a Canadian-United States citizenship,…
Read MoreHow Long Will You Live?
Have you ever wondered how long you might live? Understanding life expectancy is crucial for planning a secure and fulfilling future. In my latest blog post, YouTube video and podcast episode I explore the dramatic changes in life expectancy over the past century, why it’s expected to continue increasing, and how this impacts your retirement…
Read MoreHow To Have a Long Lifespan, Healthspan & Wealthspan With 3.0 Level Thinking
How long should you expect to be retired? You want your money to last the rest of your life. How long will you live? What quality of life will you have? What will your lifestyle cost you when you are older? What if you could: 1. Live longer (long lifespan). 2. Be healthy longer (long…
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