Not sure how to make a retirement plan? Read on…
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How to model retirement income in Canada Feb 15th
Ask MoneySense
I am retired early at 58 years old. My wife is 56 years old. We live on a Christmas tree farm, which was paid for years ago.
I have a work pension, and my wife was bought out for her pension.
We have considerable RRSPs, farm income, and farm property. Where do w.... More »
Best high-interest savings accounts in Canada 2022 + MORE Oct 5th
Generally, savings accounts offer very low interest rates. So, if you want to earn on your deposits (rather than simply using your account as a temporary “holding tank” or directing to longer-term saving and investing vehicles), a savings account with a high interest is a no-brainer.
Howe.... More »
The best RRSP investments 2022 Jan 11th
A registered retirement savings plan (RRSP) is an investment that is registered with the Canadian federal government. RRSPs are often described as being “tax-advantaged.” That means you don’t pay income tax on the amount you are contributing to an RRSP, in the year you earn that contribution. .... More »
5 reasons to buy life insurance—right now Aug 24th
If you’re working to improve your financial situation, a few strategies may come to mind: paying down debt, building an emergency fund, investing inside a tax-free savings account (TFSA) or a registered retirement savings plan (RRSP), or putting your money in other savings vehicles. These are all .... More »
Posthaste: Retirement out of reach for almost 40% of working Canadians over 50 - Financial Post Feb 1st
Posthaste: Retirement out of reach for almost 40% of working Canadians over 50 Financial PostPosthaste: Only about a third of Canadians over 50 say they can afford to retire Yahoo Canada FinanceRetirement ‘becoming unaffordable’ for many Canadians. What can they do? &n.... More »
Making sense of the markets this week: July 12, 2021
– moneysense.ca
Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.
How to be a millionaire
I’ve often said that becoming a millionaire should be achievable—if you have a decent wage, manage your debt, get cash-flow-positive and invest in a low-fee manner on a regular schedule. Easy-peasy, eh?
Wealth building is so “simple,” I was able to explain it in a 1,000-word blog.
Alright, alright—so, cutting back on coffee and a few other personal budget items will still leave you 12% short of that millionaires’ club, but it is surprising how modest amounts can add up to millions. (We recently looked at building the $8-million portfolio in this space.)
Here is a very good and simple video that demonstrates how much it takes from various starting points—that is, your age when you begin investing—to kicking off retirement at age 67. How much would you have to invest on a regular schedule beginning in your 20s, 30s or 40s to build that $1-million portfolio?
Here are the deets in chart form: the time it takes to make a million…
How to be a millionaire
I’ve often said that becoming a millionaire should be achievable—if you have a decent wage, manage your debt, get cash-flow-positive and invest in a low-fee manner on a regular schedule. Easy-peasy, eh?
Wealth building is so “simple,” I was able to explain it in a 1,000-word blog.
Alright, alright—so, cutting back on coffee and a few other personal budget items will still leave you 12% short of that millionaires’ club, but it is surprising how modest amounts can add up to millions. (We recently looked at building the $8-million portfolio in this space.)
Here is a very good and simple video that demonstrates how much it takes from various starting points—that is, your age when you begin investing—to kicking off retirement at age 67. How much would you have to invest on a regular schedule beginning in your 20s, 30s or 40s to build that $1-million portfolio?
Here are the deets in chart form: the time it takes to make a million…
