Preparing For Retirement In CANADA... How Much Do You Really Need?
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- เผยแพร่เมื่อ 26 ก.ค. 2024
- 📈📚 Join The Investing Academy ➤ bit.ly/theinvestingacademy
Today we'll talk about retirement in Canada. CPP, OAS, and how much you need to retire!
#stockmarket #canada #theinvestingacademy
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Timestamps:
Intro (0:00)
Retirement Focused Mini-Series (2:00)
3 Retirement Concerns you don’t need to worry about (2:56)
You’ll probably spend less than you think (3:14)
Retirement Years can be Awesome! (6:21)
OAS Clawbacks (8:38)
Share your feedback down below! (11:07)
Outro (12:48)
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About Brandon Beavis:
Brandon Beavis was one of the youngest advisors to become fully licensed here in Canada.
In 2013, Brandon officially began his industry studies. Over the years he has completed his CSC (Canadian Securities Course), CPH (Conduct & Practices Handbook), WME (Wealth Management Essentials), 90-day Investment Advisor Training Program, attended the Manulife Professional Development Workshop in Oakville, ON, and attended countless industry seminars, conferences & events to help further his learning.
At age 20, he became a fully licensed Investment Advisor, working for one of Canada’s largest Investment Brokers, Manulife Securities. For 4 years, he worked alongside a highly experienced team at Beavis Wealth Management, specializing in High-Net-Worth Investing. He’s had the opportunity to work under his Father, an advisor of over 25 years, and has dealt hands-on with client portfolios, involving; analyzing, building, and managing multi-million-dollar client accounts.
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About Marc Beavis:
Marc is a retired Portfolio Manager, having spent over 25 years in the investment industry, managing multi-million-dollar portfolios and working with clients of all ages. He retired in 2021 and is a regular contributor to this channel.
Following his initial licensing back in 1996, he completed a number of industry courses, including the Derivatives Fundamentals and Options Licensing Course, Portfolio Management Techniques, Wealth Management Essentials, Investment Management Techniques, Fixed Income Investing, Hedge Fund Essentials, Portfolio Theory, and of course, the Canadian Securities Course.
Marc previously served as a Director of the Canadian Association of Financial Planners (Now FP Canada) including the roles of Vice President and Director of Ethics.
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I need enough to get the heck out of Canada every winter 😂
I will go back to living in Brazil all together, hahaha!
Self employed Carpenter here....and same! When I was doing rough framing during the polar vortex in -30 I decided I’m gonna be a snow bird
Honestly! I hate the winter
Right! I love Canada but I want to live somewhere else for 5-6 months each years
I hate winter too & would love to spend winter in the South!
Option 2.
I am in my 40s would be interested to get info on investhing for the next 15years.
Thanks!
Thank you, Marc for tackling finance for older folks. It's definitely lacking on TH-cam. That said, I've been enjoying all of your channel's content, whether it pertains to my situation or not. Bravo!
I would definitely appreciate some of this channel dedicated to those near or in retirement. It would be good to show some content targeted at single retirees - almost every channel out there assumes a couple collecting double cpp/oas. There are many single retirees out there.
Thanks for mentioning the single aspect, Saj. Most coverage assumes couples, but that's often not the case. - Marc
Both options would be great, doesn’t matter the order to me. Love the videos
Keep them coming
Option 3?: Retirement planning: How you can maximize government benefit while not losing Cash Flow!
I second this! Show us how to plan for retirement while leverage tax benefits!
@@TwinworldGameReviews Split shares funds are one of the worst investments u can make.. Take a look at how over time the the share price starts off higher and spirals down.. DFN is one such example. They are using more funds for the pay out ratios to keep the dividentd payouts ongoing. Dan the ceo of stocktrades.ca really showcases this and it really opened my eyes to split corps.
@@flow2tech I watch quite a few of the StockTrade videos. They have some decent content. I just recently added a few split share / enhanced dividend stocks to see how they go. I even have a couple covered call etfs, but saw the video that they could actually underperform.
I mentioned split share corps as example for getting dividend income. I know a couple investing channels hold a lot of these funds, but I'm not sure if I would chance a huge portfolio % to them.
@@TwinworldGameReviews Ya I mean ,I guess if one built a substantial portfolio first with growth/divs and then moved those gains over time to a more passive income style approach as u got closer to retirement ... That could be an option.
Can you do both? That'll make a perfect series of retirement investing, because option 2 has to include option1. I have 10-15 years to retirement. Thanks Marc!
Would love a video on the most tax efficient ways to setup and then withdraw investments during retirement.
Thanks for your suggestion. - Marc
Very relevant to retired people. Looking forward to a presentation on this. Thank you!
As a 23 year old, I am telling you Mark, that this type of videos on topics like Retirement planning is not just interesting to the older demographics but also for some people of my age....Its good to at least think about retirement from a financial perspective as you mentioned, so that we are better prepared and the journey is smoother....I hope you make more detailed videos of finances in retirement particularly in Canada cuz I am going to watch all of them....As a bonus, I promise to smash the like button for all of them....😅😅
I need both! please do both videos!!!! would love to see this mini serie on retirement!!!
Great content!
Both options please…
Also, if you could make video for someone having 20 years to retire.
I would like to hear more on both 1 and 2. I'm 58 years old and plan on retiring at 65. Not much time left and pretty scary to think about not working. Just started into the stock market this year and plan to sock away as much as I can tax free. At 65 I will sell my house and invest the proceeds. Any advice you have will be much appreciated. Thank for doing the series.
I’m the same age and in the same situation.
Same here im 52
If you plan your retirement income will be lower than working, then max RRSP, then TFSA. Invest in low fee index ETF ( balanced with US, Canadian, international and bond), let it grow. Make sure to add funds monthly or quarterly for dollar cost average.
Yes, option 1 and Option 2 are useful information to know to better prepare for retirement, Thank you so much Marc.
Option 2. Thank you for providing such great content.
Nice work boys. I'm 52 and investing slightly more aggressively to make up for lost time. Semi-retiring in 5 years or less.
Both option 1 and 2 will be very good to get in depth information. Thanks Marc!!
Thank you Marc. I look forward to that mini series.
Start with option 2, how much we need for retirement, which may scare half of us. 😀Then option 1 to give some breathing room.
I'm aproaching 40 and have only been learning about investing for 4 months. I'm just now starting to seriously think about how I'm going to fund retirement.
Your channel is pure gold for a guy like me.
Thanks Marc!! I've said it before, but it truly means a lot to know you take the community's comments to heart and tailor your content accordingly. Excellent message and lesson as always, even for us Americans. :) I'm absolutely interested in a retirement planning series of videos, specifically 'how much I need to retire' since I think that will benefit Canadians, American's and others around the world alike. Cheers my friend...
Fantastic video! Would love to hear more about both options, looking forward to it. Thank you for taking the time to make these great videos!
As a younger viewer , Option 1 would be great to help my family and to start understanding all these government benefits and acronyms!
I love your clear and concise communication. Please do both but more excited about option 1.
Great content.. would really like to hear more regarding Option 2.
I love the idea of your video series and will eagerly watch them all! Option 2 seems like a good place to start. Thanks for sharing your knowledge.
Great video! For the next video I would like option 1, thanks!
Thank you for sharing your knowledge! I would appreciate if you make a video (or rather a series of videos) on both options. Thank you!
Thanks for the video. My husband and I are in our mid forties and looking to retire in 10 years. Option 2 would be great for us. Please consider how a defined pension fits in. Thanks again and we appreciate your in depth content in ALL of your videos.
Option 2! Thank you what a great series idea.
Great video! Can’t wait for more videos on the subject!
i prefer to see both options since i have not really thought deeply about retirement and would love to learn everything i can
Yes more retirement planning videos! I’m not close to retirement but my parents are and I want to be able to help them make the best decision
I love your dad! I'm 34 but I started my Retirement Planning just about a year ago. Getting clearer ideas when someone who is more financially literate shares their thoughts! I was literally looking at OAS clawbacks yesterday and I'm like how did you know I needed this video.
I feel like you are talking directly to me Marc, Just turning 45 and absolutely need you to do a comprehensive outline or series talking about government systems and benefits that will (Hopefully) be available for me. I am pretty much ignorant to this , just starting to learn now so yes please help!
I’m in the same boat buddy!
Hi ! I just discover your channel and it's very interesting. I like your subject and for me I prefer the second option but you can do both ! I just turn 52 this year so the timing is right. Keep on the good work !
Thank you Marc. Can you do both options, please? And even more options :))) I'm 55 and I would like to learn anything about retirement and how to do it smartly. I have been watching your channel for three years now. This is the best and most intelligent channel about investing.
All options would be great to get some videos on. Thanks for the work you guys put into your videos!
This is a great topic. I'd love to watch more videos on the subject please. Thanks Marc :)
i like the new series i would be interested in hearing and learning more
Hi Marc, Option 1 sounds goods. Seems like there's a lot of option 2 videos out there already. Thanks!
Option 1 please. As in detail as you can get! Regardless which option wins, this is awesome!
I’ve been following the channel and the podcast for the past few months and the content is amazing! Hands down the most helpful channel I have found thus far in understanding the markets. Both options 1 and 2 would be great. I will certainly be sharing this video with my parents who are at this stage in their lives. Hopefully they can join in on the investing academy experience! Awesome stuff guys. Keep it up!
Cheers,
Devon.
Your vlog is very informative, so thank you!! Please provide content that’s geared to soon retirees.
Fabulous content Marc. I'd like to see Option 1 followed by Option 2. A big thumbs up from me. Cheers.
yes please Mark, making a video of both of these options would be very much appreciated , you are doing a great job !!
Yes please!!! More of this type of video help us understand government benefits. Thanks!
Option 2 please! :) and thank you for the helpful video!
Very informative video Dad :) looking forward to the next video 👌👌
Yes, yes, and yes to all those subjects you mentioned please. I'd love more information on government provided retirement benefits. Thanks
Option 3: All of the above
Option 2 if possible. Thank you for sharing. Great info.
Thanks for putting this together Mark! Feels like I am just soaking up so much wisdom! 😀
Awesome video and content. Thanks!
Much appreciated, Robin. Thanks a lot. - Marc
Thanks. Option 2 and the planning for it !
Thanks for the info. great work. keep it up
Thank you. - Marc
Option 1 please!
Another awesome video, thank you!
I would go with both options. Loved the video as always 😊
I would like boths options explained. Thank you, for your informative videos.
Very interesting content Mark ! Thank you
Great content Marc! I love the idea to have like a mini series about all the contents involving retirement! That way you can reach young investors that are concerned about retirement already and older investors too!
Enjoyed the intro, looking forward to more "later-in-life" content (personally late 40s and planning for my retirement, as well as managing retired parent finances).
Hello! Thank you for the great video! Option 1 please.
Love this! Thank you
Great video. Option 2
Hi Mark,
The content is nicely done and I believe it just the tip of the iceberg for retirement planning. I would like to see you explaining option 1 in a series of video. I also believe most of us are not well informed about the benefits to reap from the government pre and post retirement. It would clear a lot of doubts on preparing for retirement.
Yes, if you can please discuss government benefits and in-depth discussion on how much do we need in retirement and how would we be able to achieve that, when in your 40’s or 50’s.
Thanks Marc, very much appreciated. Any subject related to retirement is of interest to me as I am approaching this major milestone.
Option 1 would be great 👍.
Thanks again. Great videos.
both options sound good. Please continue with the series.
that was very informative for me. I really enjoyed that
Definitely more retirement planning content s Please & Thank you ... specifically for those retiring in 5-10 years ... would like to hear more on how much money is required & ways to minimize taxes - Love the Cdn channel / content - Oh, Canada 🇨🇦
People definitely don’t anticipate having no house payment. That’s a huge factor.
That's a big thing for those wanting to retire. If they have any kind of bad debt, they'll want to pay it off first. Last thing someone wants is debt payments taking away part of their fixed income each month.
Wow Great video! Mr beavis
Nice information. I would like option 1
Would love to see more videos on Government Benefits related to retirement. We are really enjoying your videos. Your explanations are easy to understand for those of us who are not well versed in the topics you are covering.
Would love to hear more on both subjects. I'm 51 with a group rrsp that I didn't take advantage of so it's only around $16,000. Just started investing independent of that rrsp via tfsa investment account as well, lot's of contribution room available. Content geared at beginner investors in their 50's with no home equity (don't own, rent by choice) and little savings but also no debt would interest me greatly. Love the channel, keep it up!
Hi Linda, just a quick pointer. In your Group RRSP make sure to see what your invested in.
Contact whoever is taking care of your GRRSP and see what it is invested in.
The reason why I’m saying this is because if it’s like my company they give you so many investments that you can pick on your own. If you don’t choose your own it automatically goes into what they chose for you. A few years back it went automatically into a money market fund which doesn’t make very much money. Now it goes into something they developed according to your age and when you would retire.
Many people are not told enough about the company GRRSPs (and other group investment opportunities).
A very candid and Zero BS advise who certainly has experience on the subject. Greatly appreciated. Biggest shocker for Salaried folks is the out of pocket tax that you now have to pay as you start withdrawing from RRSP / RRIF etc. Thanks.
Love this introductory video. I would definitely love to gain some knowledge about both Options 1 & 2, especially from an experienced investor like yourself.
Great video. Option 2 first and then Option 1 after.
Yes. Go further into what was discussed in this video.
excellent content! many thanks for sharing, can't wait for your retirement topics in mini series..
Thanks, Henry. The next video in the series is now out. Hope you can catch it! - Marc
Yes please. A video on CPP, OAS, GIS, ETC. WOULD BE GREAT!!
Option 1! :-) Thank you !
Option 2, please. Thank you for your help!
Yes it would be a good idea to see more videos about preparing for retirements.
thank you for this video! please more videos regarding retirement.
Thanks very much for doing this series. I'm 47 and learning as much as I can about retirement planning. Please continue to do more of these videos. They are sooo helpful!
Thanks, Evelyn. Hope you've been able to catch the two most recent videos in this series, out over the past couple of weeks. Thanks for watching, and for taking the time to comment. - Marc
Would love to also see more vidoes on Personal Finance. Thank you 🙂
I love this topic! I am 17 yrs away from my retirement. Thank you!
Thx for the video! Option 1 would be my priority... thx.
Yes, both options. Thank you!
I love this! As someone in their mid 30’s, I feel like I have a late started with the preparing for retirement. Would love to see more things like this, and any kind of road map that might help! Thank you!
I’m 59 and interested in anything retirement. How to transition into a fixed income portfolio and how to keep my.investments low-risk.
I would like to see videos about both options, but option 2 is of greater interest for me.
Absolutely interested. My retirement is 5-8 years away and I've only started getting information on this, so my interest is Option 1. Thanks for this info.
Thanks for the vid, I would be most interested in option 2 1st then 1
Thank you Marc and Brandon for such amazing and helpful content. I would love to hear more!
Thanks, Erin. Stay tuned! - Marc
Excellent content, I personally prefer option 2. Also would like to know for example how a 1,000,000 in dividend paying portfolio with a somewhat safe and sustainable yield would look like.
Thank you and keep up the good work.
If you’re doing a mini-series Marc, all the options you mentioned. Having just retired myself, I think you touched on many subjects, OAS, CPP, how much do I “really” need based on normal living, etc. I think you bring a great perspective to the channel and appreciate all you and Brandon do. Thank you.
First pls do option 2 and then option 1 please. Love your content Marc. I’m a 32 year old and I want to start planning from now.