I have read many wonderful posts on the topic of retirement over the last week or two. Here is what inquiring retirees or near retirees often want to know. When can I retire? How can I make my retirement monies last? How do I best fund that retirement?
I covered retirement risks and retirement funding in two separate posts this week.
Here is the link living off of the dividends, and here is the link to rolling the dice with your retirement savings. Enjoy. Those posts brought some lively debate on Twitter and in the comment section. I was not able to find another financial planner that would put a retiree in an all stock portfolio with monies the client actually needed, and needed to last.
How to plan for retirement.
From Spring Financial Planning here’s a wonderful checklist and retirement preparation post. Please have a read of Design Thinking: Post Retirement Income. Thank you Sandi Martin. It’s framed with ‘year behind questions’ and ‘year ahead questions.’ This a great read and tool for self directed investors and advisors. I am of the opinion that on the questions of retirement we should check in with a trusted financial planner.
But if you do go it alone and want to elevate your retirement planning game, have a read of Jonathan Chevreau’s retirement planning programs revisited. Jonathan offers 4 online planning tools for consideration. It’s possible that if you know how to best utilize those tools, you might be able to build a sensible retirement strategy.
I am currently working on a post that will take a look at RazorPlan that was acquired by Nest Wealth. That robust retirement planning tool is geared toward financial planners and advisors.
How long will you live?
On the topic of longevity can we go too far? Graeme Hughes asks if planning to age 100 practical?
On myownadvisor Mark Seed and Owen Winkelmolen of EasyPlan help a reader who wonders if she can retire with $1.2 million and no pensions. Once again, you’ll be able to see those digital tools at work.
On the Robo front Rob Carrick has updated his comparison tool. Rob suggests that the Robo’s are way passed that novelty stage. I’d agree. And I ask why have Canadians given the robo advisors the cold shoulder?
On the Justwealth blog Enoch of SavvyNewCanadians wrote on rent vs buy and the home purchase considerations. Great content from Enoch, as always.
Oh holypotato John Robertson weighed in on the recent demise of Planswell.
And in the spirit of financial literacy month here’s a very useful breakdown of saving vs investing courtesy of WealthBar.
Here’s an economic update from our friends at Invisor. And on the practice of marketing watching (and predictions) Brian Belski of BMO suggests that we’re in store for more positive returns in 2020. If you’re retired you might say “Great”. If you’re in the accumulation stage you should probably root for some lower prices.
In his new market outlook released Thursday, Mr. Belski’s “base case” 2020 year-end price target is 18,200, representing a healthy gain of 7 per cent from where the index stands today… And Mr. Belski is forecasting an even better return for the S&P 500 next year of 9.5 per cent, with the benchmark index hitting 3,400 by the time 2020 draws to a close. As is the case for his TSX target, that assumes an environment where stocks continue to grind higher, but with periods of elevated volatility as questions remain on the trade front.
Of course the markets will do what they will do. And we can certainly have some fun looking at projections and commentary. Just be prepared for anything. As anything can happen.
On Boomer and Echo Robb Engen says we can learn from his ‘mistake’. Robb goes over the challenges of personal insurance when we move to self employment. That can be more than tricky as we balance our personal plan plus any group plans and levels of coverage. I’ve also discovered that it’s more than difficult to acquire disability insurance as a freelance writer.
Deep Thoughts From Collaborative Fund.
Common plots of economic history looks at the commonality of the big events and individuals who did change the course of history. That is a fascinating read.
This very interesting round table podcast that debates who might be the 5 best investors of all time. Funny though, I did not see Elma from North Bay who continually bought the big Canadian banks in the 1970’s and 80’s and simply let them run and compound. There are many Elma’s out there.
And MoneySense asks who’s afraid of big bad debt?
Thanks for reading. Please offer your thoughts in the comment section.
Have a great weekend.