David Aaron, I retired at 60 and my friends were still working. You are absolutely correct about getting new friends or hobbies because when I retired most people I know were still working and didn't have the free time I did. I waited a few years and then joined the YMCA and suddenly I made friends who were also free in the daytime. It changed my life. It's like being married and only hanging with your partner all the time and then when he or she dies one of them is totally alone. It's good to make new friends and put yourself in circumstances where the possibility is possible. I was never the stay-at-home and read or watch TV type. Thank you, David. You are a wise man.
Retirement is now more difficult than it was in the past. it's all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an advisor to help in diversifying your portfolio to spread out the risk.
Financial planning and retirement strategies are crucial, especially in today's economic climate. With global economic fluctuations and uncertainties, it's essential to have a solid plan in place to protect your financial future.
Amazing presentation!! I retired at age 55… last year. I’m having trouble working out all the small details. What’s the right way to approach my retirement and withdrawals. The wife continues to work, she will have a pension at retirement. She is scheduled to retire in 2038. And she plans to work part-time after retirement just to keep busy. Everything you say, makes a total sense , unfortunately, the advisor I work with doesn’t place that much importance on retirement planning,as he quotes, I’m too young to worry about retirement plans. Thanks again for the presentation .
LUV that you talked about upsizing! Great way to save on taxes. What about moving to a duplex or triplex? Then you also have monthly income/ self made pension coming in too. How is that taxed when you pass?
Great idea for people who still need extra cash to fund their lifestyle. Ontario tenants may be reluctant to do that until the laws change but I still like your idea.
Good morning, David Aaron. I'm not the sharpest knife in the drawer but I am curious if it's a good time to bond atm? I understand when stocks are up or down but I don't understand where overall bond yields are right now compared to a year ago. Thank you, David. Also is balanced mutual funds automatically include bonds?
If I can add to your comment, bonds are included in a balanced ETF's & mutual funds, but you should check the holdings of the investment to see the proportion of bonds to stocks, to see if it fits your criteria. You might also consider a bond ladder instead to balance out short & longer term durations, since you never know exactly which direction interest rates take bonds.
4% rule? So, you are spending 4% of your portfolio and you compensate back to it by investments return of 4%. So, when are you going to spend the principal of the funds? If you spend 4% of the money you have saved and compensate it with the same interest rate, when are you spending all those hundreds of thousands of dollars that are the principal? Or the financial advisors are eating it with their fees 😊?
@@gordonpi8674 there are two ways to use your retirement assets. One is to live off of the 4% and thereby you will pass your investment portfolio onto the next generation or to your beneficiaries. the second way is where you draw down on your assets and you will have very little left or you’ll have a targeted amount of money that you want to leave behind. In both instances there are fees to how you invest. if you’re doing it yourself there is going to be some cost to doing it yourself. If you’re paying an advisor there’s going to be some fees that will go to an advisor. The choice is yours.
David Aaron, I retired at 60 and my friends were still working. You are absolutely correct about getting new friends or hobbies because when I retired most people I know were still working and didn't have the free time I did. I waited a few years and then joined the YMCA and suddenly I made friends who were also free in the daytime. It changed my life. It's like being married and only hanging with your partner all the time and then when he or she dies one of them is totally alone. It's good to make new friends and put yourself in circumstances where the possibility is possible. I was never the stay-at-home and read or watch TV type. Thank you, David. You are a wise man.
Retirement is now more difficult than it was in the past. it's all about balancing your risk tolerance with your long-term goals. Maybe consider speaking to an advisor to help in diversifying your portfolio to spread out the risk.
Financial planning and retirement strategies are crucial, especially in today's economic climate. With global economic fluctuations and uncertainties, it's essential to have a solid plan in place to protect your financial future.
Excellent presentation ✅
Amazing presentation!!
I retired at age 55… last year.
I’m having trouble working out all the small details. What’s the right way to approach my retirement and withdrawals.
The wife continues to work, she will have a pension at retirement.
She is scheduled to retire in 2038.
And she plans to work part-time after retirement just to keep busy.
Everything you say, makes a total sense , unfortunately, the advisor I work with doesn’t place that much importance on retirement planning,as he quotes, I’m too young to worry about retirement plans.
Thanks again for the presentation .
DIY investment if you're worried about the fees.
LUV that you talked about upsizing! Great way to save on taxes.
What about moving to a duplex or triplex? Then you also have monthly income/ self made pension coming in too. How is that taxed when you pass?
Great idea for people who still need extra cash to fund their lifestyle. Ontario tenants may be reluctant to do that until the laws change but I still like your idea.
Good morning, David Aaron. I'm not the sharpest knife in the drawer but I am curious if it's a good time to bond atm? I understand when stocks are up or down but I don't understand where overall bond yields are right now compared to a year ago. Thank you, David. Also is balanced mutual funds automatically include bonds?
If I can add to your comment, bonds are included in a balanced ETF's & mutual funds, but you should check the holdings of the investment to see the proportion of bonds to stocks, to see if it fits your criteria. You might also consider a bond ladder instead to balance out short & longer term durations, since you never know exactly which direction interest rates take bonds.
Thank you very much for your response David! 😀
4% rule? So, you are spending 4% of your portfolio and you compensate back to it by investments return of 4%. So, when are you going to spend the principal of the funds? If you spend 4% of the money you have saved and compensate it with the same interest rate, when are you spending all those hundreds of thousands of dollars that are the principal? Or the financial advisors are eating it with their fees 😊?
@@gordonpi8674 there are two ways to use your retirement assets. One is to live off of the 4% and thereby you will pass your investment portfolio onto the next generation or to your beneficiaries. the second way is where you draw down on your assets and you will have very little left or you’ll have a targeted amount of money that you want to leave behind. In both instances there are fees to how you invest. if you’re doing it yourself there is going to be some cost to doing it yourself. If you’re paying an advisor there’s going to be some fees that will go to an advisor. The choice is yours.
If you are only generating a 4% return, after fees,I would suggest you have a hard look at why