Retirement Guide For Canadians

Let’s face it, planning and saving for retirement is not easy. We are told that the earlier we start the better and that the “magic of compounding” will make our dreams come true if we simply trust the stock market and our investment advisor. ​But for most people it’s simply not possible. People in their twenties are often saddled with student debt and may be struggling to find suitable full-time employment. Saving for retirement is the last thing on their minds, as it should be. ​Then in our thirties and forties we tend to do things like get married, have kids, and buy houses. All these things cost a lot of money! So for many people there simply isn’t any money left to put away for retirement. Therefore many of us become procrastinators when it comes to saving for retirement. ​But there is hope. This book will take you step-by-step though planning and saving for retirement starting in your fifties and the best way to fund your retirement years. It is designed for people approaching retirement who want to ensure it is comfortable and stress-free.

People over 65 years old constitute the fastest growing segment of the Canadian population. By 2011, as the first baby boomers turn 65, seven million Canadians will be senior citizens. And by 2041 it is estimated nearly one in four Canadians will be over 65. The aging population will radically change society as individuals face the challenges of growing older, caring for parents and often times for children still at home. As our life spans increase so do our options for how we will spend our later years. However, this large group of elders is facing a crisis. Many have made few if any plans for retirement. Without clear goals, plans to support dependants and means of paying for financial commitments, in addition to increasing health risks, retirement could be a time of misery and uncertainty. The Canadian Retirement Guide solves that problem. It sets up a process by which we can plan for retirement as a family, taking into consideration the retiree, the spouse and those who depend on them. Topics covered include estate planning, wills, taxation, how to choose financial professionals, your role as a caregiver, physical and mental health issues, and the different challenges facing us as we enter our golden years.

ARE YOU WORRIED ABOUT YOUR RETIREMENT ? Your not alone. Most Canadians feel they can use some more planning when it comes to retirement whether you have been retired for several years or planning for retirement. I have written a book on the mistakes I have seen in over 20 years of retirement planning. This book addresses: -Strategies about minimizing taxes, as saving a dollar in tax may be your best investment -How to avoid common pitfalls and myths about generating retirement income and cash flow -Protecting your assets and transferring your money as everyone only gets one estate -Simplifying your retirement and giving you peace of mind -Avoid common retirement planning mistakes as the title suggests. The great investors don't do it themselves, because they know it is an emotional decision. They come to the logical conclusion to get a team of great professionals to help them avoid retirement mistakes and become comfortable with their retirement plans I hope you enjoy this book and using it as a reference towards improving your retirement lifestyle. www.ghicks.com Sincerely, Grant

Retirement planning is difficult enough without having to contend with misinformation. Unfortunately, much of the advice that is dispensed is either unsubstantiated or betrays a strong vested interest. In The Essential Retirement Guide, Frederick Vettese analyses the most fundamental questions of retirement planning and offers some startling insights. The book finds, for example that: Saving 10 percent a year is not a bad rule of thumb if you could follow it, but there will be times when you cannot do so and it might not even be advisable to try. Most people never spend more than 50 percent of their gross income on themselves before retirement; hence their retirement income target is usually much less than 70 percent. Interest rates will almost certainly stay low for the next 20 years, which will affect how much you need to save. Even in this low-interest environment, you can withdraw 5 percent or more of your retirement savings each year in retirement without running out of money. Your spending in retirement will almost certainly decline at a certain age so you may not need to save quite as much as you think. As people reach the later stages of retirement, they become less capable of managing their finances, even though they grow more confident of their ability to do so! Plan for this before it is too late. Annuities have become very expensive, but they still make sense for a host of reasons. In addition, The Essential Retirement Guide shows how you can estimate your own lifespan and helps you to understand the financial implications of long-term care. Most importantly, it reveals how you can calculate your personal wealth target - the amount of money you will need by the time you retire to live comfortably. The author uses his actuarial expertise to substantiate his findings but does so in a jargon-free way.

Canada’s #1 bestselling retirement income book is now completely revised and updated. Vettese will show you how to mitigate risk and secure your financial future in these unpredictable times. As COVID-19 rocks the economy in an unprecedented black swan event, retirees and those who are preparing to retire need answers to pressing questions about their financial futures. Originally published in 2018, the second edition of Retirement Income for Life, has been completely revised and updated, and now includes: New chapters on early retirement, retiring single, what to do when one spouse dies young, and more. Three strategies for mitigating your personal financial risk in the current downturn in equities and other investment products. Advice on how to plan for (and even benefit from) the coming bear market, resulting from COVID-19, which will create unprecedented equity buying opportunities, possibly as early as 2021. Information on the impact of unbearably low interest rates on annuities and fixed income investments and what to do if you hold them. The reasons retirees should be deferring CPP until age 70 and why the case for this is stronger than ever. Author Frederick Vettese demystifies a complex and often frightening subject and provides practical, actionable advice based on five enhancements the reader can make to mitigate risk and secure their financial future. With over one thousand Canadians turning 65 every day, the cultivation of good decumulation practices — the way in which you draw down assets in retirement, ideally to have a secure income for the rest of your life — has become an urgent matter that no one can afford to ignore.

A Globe and Mail Bestseller! A guide for Canadians on how to use real estate as an investment and retirement solution. Leveraging equity in a principal residence and using it wisely to purchase rental property is the solution to a safe, secure retirement for millions of Canadians. Many Canadians who own their home have never considered buying a second property. And nearly one-third of retirees are worried about running out of money. The Real Estate Retirement Plan shows how homeowners can use the tools already available to them — their mortgages — to access the initial capital to invest and prepare for their retirement. This is a proven, validated antidote to today’s historically low savings rates, poor current rates of return, and pressure on CPP and health care. With examples and a detailed discussion of the principles and mechanics, Calum Ross and Simon Giannini demystify real-estate investing and make an irrefutable case for borrowing to invest.