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Retirement

Income Sources, Needs and Wants in Retirement

Some time ago on this site I wrote one of the biggest retirement questions and potentially one of the most frequently asked retirement questions is “How much is enough”? The answer to this question is usually, it depends. It largely depends on what you’ll spend in “retirement”. I was thinking about that subject recently including some needs and wants, and forecasting where (I hope) some our retirement income will come from. Here is what crossed my mind in today’s dollars: Needs per month – Home ($1400) Home maintenance ($400 per ...

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Weekend Reading

Weekend Reading – Model Portfolios, wealthy habits, death and taxes, and more!

Welcome to another Weekend Reading edition folks, some of the best articles from the personal finance and investing blogosphere. Here are my articles that got some attention this week: I wrote about why I’m still a bit discouraged about retirement. I provided a take on dishwasher costs. I mentioned with the start of a new year comes new Tax Free Saving Account contribution room, sharing some investment ideas here. Here are some great articles I checked out this week.  Enjoy your weekend folks and take care. Canadian Couch Potato released ...

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TFSA

New Year, New TFSA Room, Great Investment Ideas Here

Get excited savers!  A new year means more Tax Free Savings Account (TFSA) contribution room.  Here are a few facts about the TFSA and how you can benefit from this magical account. TFSA 101 The Tax-Free Savings Account (TFSA) is a flexible, registered, general-purpose savings account* that allows Canadians to earn tax-free investment income.  The TFSA complements existing registered savings plans like the Registered Retirement Savings Plan (RRSP) and the Registered Education Savings Plan (RESP). How the TFSA works: As of January 1, 2013, Canadian ...

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Frugality

The economics of your dishwasher

I was on Canadian Money Forum the other day and this thread that would not normally catch my attention, well, caught my eye: Dishwasher detergent, cost per wash The thread went on to describe or at least try and quantify the difference in costs using dishwasher powder compared to dishwasher liquid and further still compared to dishwasher packets/pods.  Yes, it appears a number of people have way too much time on their hands. Yet this got me thinking about many of the costs associated with your dishwasher, so let’s list a few: The capital ...

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Retirement

Still discouraged about retirement

Some time ago, MoneySense Magazine chatted with actuary and pension guru Malcolm Hamilton about retirement. In the article Hamilton stated the following: “I was cautious and now have more than I need. I have no good use for the money, although I might if we have another 2008.” At the time of the article’s print, Malcolm Hamilton was 63.  He works as a senior fellow for the C.D. Howe Institute.  He is one of Canada’s to-go experts for anything related to pensions and retirement. I have to wonder by making such a statement, if Hamilton ...

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