If you are among the minority of private sector employees covered by an employer-sponsored pension plan, you need educate yourself about how this benefit fits into your overall financial plan for retirement. Depending on whether your employer offers a defined benefit (DB) or a defined contribution (DC) plan, your plans for your future may look […]
One of the single most important questions you need to understand before entering retirement is to know what your safe withdrawal rate is, based on how much you have saved. In other words, how much you can “safely” take as an income each year from your portfolio so you don’t outlive your money?
Factors Affecting […]
Whether you know it or not, you are teaching your kids about money every day by how you spend it, save it, invest it or waste it. Whether you qualified or not, you are their money coach and they will learn by listening to you and watching your every move.
When you make a major life change into retirement, you will hopefully enjoy several years of active living. Although it would be wonderful if this continued throughout our entire retirement, nature has other plans for us! More likely we will have 10-15 years of active living and then we gradually start to slow down . […]
Nobody takes pleasure in suddenly becoming unemployed. Just the ‘prospect’ alone can be very overwhelming and stressful. Often the worry or anxiety comes from feeling you have no control over the situation. This is partially true; you may not be able to control what your employer does but you can control to some extent how […]
In last week’s post, I invited you to take our Summer Shape-up Quiz. How did you do? Were you surprised by your score? If you answered that you are having difficulty making enough to cover your bills or that you aren’t able to save for emergencies or unexpected costs, you aren’t alone. Many people fall […]
As Canadians, we are living longer. It’s also important to live well, and our financial fitness is important, too. It has a definite impact on our physical health, since feeling stressed about money matters can lead to anxiety and depression. It can also mean that we don’t make the best choices about diet and skip […]
Peter and Christine both retired early from very high-stress careers and moved to the Gulf Islands. Through years of hard work, they have a good government pension and decent RRSP savings. Would you like your future to look like theirs? Consider these retirement planning lessons, and start putting them into practice now.
When you think about end-of-life decision making, what kinds of things come to mind? I bet one of them is the types of medical treatment you want to receive. Most of us have specific ideas whether we want doctors to use extraordinary measures to preserve our lives. What would happen if we were no longer […]
If you are like a number of Canadians who are at or close to retirement age, a significant portion of your net worth is tied to your home. For many of us, owning our own home is a symbol of success. We remember the first house we bought, the years of forced saving which come […]