Welcome to my retirement page – here you’ll find stories, essays, case studies and more from those who have achieved financial independence and income security.
How much do you need for retirement?
It depends!
But read on…
I do know with a great deal of confidence with a $1 million investment portfolio beyond any Canada Pension Plan (CPP) benefits, beyond any Old Age Security (OAS) payments and assuming no debt, most Canadians will be just fine near any traditional retirement age…
Need some retirement income planning help? Hire me!
I also run a great eductional and service site called Cashflows & Portfolios, a site dedicated to helping you manage your cashflow and portfolio wisely including any drawdown plans.
With my partner on that site, we use professional financial software to deliver customized, personal reports to help you answer just some of the following:
- Do you have enough to retire?
- When can you retire?
- How much can you spend?
- Should you take CPP at age 65 or 70?
- How do you minimize the OAS clawback?
- What is your taxation during retirement?
- What is your final estate value?
- Which account should you consider withdrawing from first, then next, and why – for the highest tax efficiency and estate value?
- And more and more!
The best part: because I’m not in the business of providing any direct financial advice, the cost of these services is well below what any financial advisor would charge!
Again, learn more at Cashflows & Portfolios about our low-cost income projections for you.
Should I follow the 4% safe withdrawal rate?
Probably not!
Sure, a good rule of thumb perhaps but hardly gospel.
Here is the actual article from 1994!
Download Link: 4% Rule – Retailinvestor.org_pdf_Bengen1
The 4% rule remains a decent rule of thumb – warning: starting point only!
Here is a proven path to retirement ignoring the 4% rule.
One might argue does the 4% rule still make any sense???
Is retirement planning the same thing as a financial plan?
Nope!
Read on in this comprehensive post about the elements of a financial plan.
You can find my own personal financial independence plan here!
I don’t really believe in FIRE (Financial Independence, Retire Early). I believe in FIWOOT!
I link to some free tools to run some retirement math on my Helpful Sites page – all FREE.
When should I take CPP or OAS?
That also depends!
I believe these are the best options when to take Canada Pension Plan.
Should you defer CPP to age 65 or even age 70? Here’s when to consider that.
Don’t forget about CPP and OAS survivorship benefits – learn all about them here.
Curious about FIRE (Financial Independence, Retire Early)?
Can you retire on a lower income?
Can this newcomer to Canada achieve financial independence with his family by age 50?
Can these millennials FIRE at age 50?
Do they have enough for FIRE at age 52?
Financial Independence fulfilled by Dividend Growth Investor
Can this couple spend $50,000 per year in retirement starting in their 50s?
This investor retired at 32! Find out how here.
I interviewed Millennial Revolution (some of Canada’s youngest, early retirees) about their approach to ditch Toronto home ownership and becoming millionaires instead.
Read below for many (free) case studies and articles!
How to invest for retirement when time is no longer your friend
Spend more or retire earlier in this bulletproof retirement plan
Passive and active investing can exist in retirement harmony
Save like this, retire like that – My story about early retirement in style
Early 90s, sold the home, now what? How to invest $600,000 to cover retirement home expenses
Should you own a mortgage in retirement? How you can retire even with debt
How to use real estate, ETFs and dividend stocks to retire in style
Beneficiaries – Don’t Forget the Fine Print!
Beneficiaries for TFSAs, RRSPs, RRIFs and other key accounts