Near retirement with no defined benefit pension? Here’s what you need to know Oct 26th

Retirement planning getting you down? There are always smart ways to plan the financial aspects of your retirement.
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When to prioritize debt repayment over saving Nov 9th

In an earlier story, we introduced you to Lindsay Tithecott, a 29-year-old who is trying to pay down debt, build up savings and buy a larger condo. To help her get her finances in tip top shape, we gave her a series of financial challenges, including a rethink of her budget-busting fitness classes. .... More »
 retirement savings

Should retirees speculate? + MORE Nov 16th

All investors need to know the difference between investing and speculation—often summed up as what you do with “serious money” versus “fun money”—and that’s doubly true for those at or near retirement. While investing is about building wealth you can count on, speculating typically me.... More »

Paying yourself first Nov 2nd

There is perhaps no single piece of financial advice more frequently repeated than “pay yourself first.” And with good reason. It’s tough to grow savings if you prioritize all your spending needs and wants ahead of putting money away. While some of us fully intend to stash whatever is left at .... More »
If you’re a typical reader of this column, I’m guessing retirement is on the near-term horizon for you, or already arrived in the form of “semi-retirement.” And if you’ve diligently saved in registered and taxable plans all these decades but lack an employer-sponsored defined benefit (DB) pension plan, you may be greeting the prospect of foregoing continued employment income with some trepidation.
Interest rates have never been lower, meaning your safe fixed-income investments (like GICs) pay you practically nothing in terms of real, inflation-adjusted retirement income. Dividend-paying stocks pay better, especially after taxes if they’re Canadian stocks, but after stock-market scares of 2008 and March 2020, an overweight position in stocks is hardly going to let you sleep at night the way a taxpayer-guaranteed, inflation-indexed DB pension is going to.
Sadly, such pensions are increasingly rare in the private sector. So what to do? I’d consult the newly revised edition of his book Retirement Income For Life by retired actuary Fred Vettese…

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