Greek premier Tsipras presents new financial proposal to EU, leaders of Germany, France + MORE Jun 21st

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I suspect to retire in physical, mental and financial well-being are goals most of us have.  For us this means some financial planning today ensures we have a chance of ending up where we want to be.  For today’s post I’d like to share some LIF withdrawal strategies I’ve been toying with.
LIRA and LIF 101

If you left a company with a pension before retirement (like I did in my late-20s) you likely had a choice to move the money into a Locked-In Retirement Account (LIRA).  These accounts are designed to help you continue to accumulate wealth that originated from your former pension plan; the account by design is to lock-in money and for the most part you can’t touch this money although some financial hardship exceptions apply.
LIRAs do not allow for lump sum withdrawals so eventually if you want income from your LIRA, you will have to either transfer the money in to a Life Income Fund (LIF) or a Life Annuity. I’m tempted to use the LIF route myself…

ATHENS, Greece – A day ahead of a crucial emergency eurozone summit, Greek Prime Minister Alexis Tsipras has presented a new proposal in calls to French President Francois Hollande, German Chancellor Angela Merkel and European Commission President Jean-Claude Juncker.
A government source close to the talks says Tsipras “presented to the three leaders Greece’s proposal for a mutually beneficial agreement, which will provide a permanent solution and not just postpone tackling the problem.” The source is not authorized to be named in the media.
Tsipras has been meeting with his senior ministers all day and will leave for Brussels later Sunday.
The governing Syriza party is holding an Athens rally later Sunday in support of the government — that comes after a strong rally Thursday of those favouring a deal with the EU.
The post Greek premier Tsipras presents new financial proposal to EU, leaders of Germany, France appeared first on Canadian Business – Your Source For Business News.

CTV NewsGreek PM Tsipras presents new financial proposal to EUCTV NewsATHENS, Greece — A day ahead of a crucial emergency eurozone summit, Greek Prime Minister Alexis Tsipras has presented a new proposal in calls to French President Francois Hollande, German Chancellor Angela Merkel and European Commission …Germany's Schaeuble insists on Greek reforms ahead of crucial summitReutersGreek crisis: Schaeuble insists Athens carry out reformsIrish TimesAffluent Greeks fret as they teeter on the edgeFinancial TimesRTE.ie -Bloomberg -euronewsall 8,832 news articles »

A HISTORY OF MONEY
Alan Pauls
In its sense of filial obligation and financial desperation, Alan Pauls’s latest novel recalls D.H. Lawrence’s “The Rocking-Horse Winner,” an eerie tale about a boy’s feverish obsession with his family’s financial insecurity. The teenage boy at the centre of A History of Money is growing up in Argentina in the 1970s during military rule and economic chaos. His family’s financial circumstances reflect that of his country. His mother has remarried a wealthy man. Still, she is always without money and endlessly pilfers her young son’s savings. His father, on the other hand, makes a living gambling, acquiring and desiring little more than cold, reliable cash.
As the story opens, the narrator is attending the funeral of a steel executive, a family friend who is the victim of a helicopter crash. The man had been on his way to settle a union dispute with a suitcase full of money. Mysteriously, the suitcase was never found. Everyone wonders: Where is the money? Which is the question that obsesses the narrator in his relationships with his spendthrift mother, his financially secretive father, the women he loves and Argentina itself…

FRANKFURT – OK, guys. You can swerve now.
In the game of chicken between Greece and its creditors over whether the troubled country gets more bailout cash, each side has played its part, refusing to back down. Now time is running out and the politicians behind the opposing steering wheels are dangerously close to getting what neither side wants: a head-on collision.
Greece’s bailout program expires in 10 days and money is draining from the country’s banks. The resulting financial blowup could slip out of control and lead to Greece’s departure from the 19-nation eurozone.
While it would be devastating economically for Greece, some predict it would be manageable for Europe and the global economy. The truth is nobody really knows.
Whether that’s a risk worth taking will be the question facing the government leaders from the 19 countries that use the shared euro currency when they hold yet another emergency summit on Monday.
Greece’s eurozone partners – led by Germany – are willing to lend it more money…