Page 2 - Eliott Einarson News Today

Couple is afraid inflation will eat away their pensions in retirement and theyll only have enough for groceries. Heres what an expert says.

Expert says the task is doable, but if they wait until age 65, things change dramatically

Margaret needs shelter more than returns on financial assets, expert says

Robert and Elly should ensure that they have their own life insurance, expert says

The challenge, expert notes, is to find a way for a person with a modest income and pension plan to retire before 65

In fact, this Ontario couple can even beat their retirement goal with Family Finances help

A couple we’ll call Chris and Crystal, both 56, live in British Columbia. They are specialists: Chris in computational mathematics and Crystal in biosciences.…

Article content In Ontario, a couple we’ll call Liam and Catherine, both 42, and their 12-year-old twins, Max and Ozzie, have built their lives around travel. Liam and Catherine were world travellers before they had children and, pre-pandemic, took the kids to theme parks, historic sites and ski resorts. Liam works for a niche player in the internet-based service industry. His pay includes commissions that have tumbled in the pandemic. Catherine is a civil servant. Combined present take-home ...

Article content In Ontario, a civic development consultant we’ll call Harry, 62, has filled his life with good deeds, spending much time on folks who are disadvantaged. His work provides a salary of $6,500 monthly after tax. Four rentals add $3,500 after tax, pushing total monthly after-tax income to $10,000. He wants to retire at age 70. Harry and his wife, who we’ll call Miranda, 60, have four rental properties with present estimated value of $1,395,000. There are $436,000 worth of mortga...

Article content A couple we’ll call Maury, a building trades contractor, and Josey, a consultant, both 48, live in Ontario with a daughter we’ll call Laura, age 12. They bring home $10,540 per month and add $30 per month from the non-taxable Canada Child Benefit. That’s a total of $126,840 per year after tax. They are diligent in their financial affairs and have a total of $224,057 in RRSP and TFSA accounts, $100,000 in cash and $46,360 in the family Registered Education Savings Plan. The...