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Why following the 70 per cent rule could ruin your retirement plans

Why following the 70 per cent rule could ruin your retirement plans
theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.

British Columbia , Rona Birenbaum , Warren Mackenzie , Simon Tanner , Dynamic Planning Partners , Optimize Wealth Management , பிரிட்டிஷ் கொலம்பியா , வாரன் மெக்கன்சி , சிமோன் தோல் பதனிடுதல் , மாறும் திட்டமிடல் கூட்டாளர்கள் , மேம்படுத்த செல்வம் மேலாண்மை ,

Why retirees should avoid being frugal with their savings

The Globe and Mail
Brenda Bouw
Published April 9, 2021
Andrey Popov/Getty Images/iStockphoto
Investors are told throughout the course of their lives to spend less and save more if they want a comfortable retirement. For some, those frugal habits can be hard to break once they stop working – even if they’ve saved more than they could hope to spend for the rest of their lives.
Case in point: Recent research from U.S. asset-management giant T. Rowe Price shows many retirees are focused on asset preservation.
“Conventional retirement income planning assumes that retirees want to maintain a certain standard of living or a certain level of spending and attempt to generate enough income to support that spending level,” the report says. “But the data suggest that the opposite might be true. People are flexible about their spending and adjust it to match their income so that they can avoid drawing down their assets.” ....

Rona Birenbaum , Warren Mackenzie , Andrey Popov Getty , Kathryn Del Greco , Del Greco Wealth Management , Private Investment Advice , Optimize Wealth Management , Del Greco , வாரன் மெக்கன்சி , ஆண்ட்ரே போபவ் கெட்டி , க்யாத்ரிந் டெல் க்ரெகொ , டெல் க்ரெகொ செல்வம் மேலாண்மை , மேம்படுத்த செல்வம் மேலாண்மை , டெல் க்ரெகொ ,

Can Bernadette help her children buy homes of their own without jeopardizing her retirement goals?

The Globe and Mail
Published February 19, 2021
Fred Lum/The Globe and Mail
Bernadette’s life has changed in a heartbeat, leaving her uncertain about where she stands financially. “As my husband passed away suddenly last year at age 59, I probably could use some advice as to how best to plan my future,” Bernadette writes in an e-mail. She is age 63 and earns $64,000 a year working in the travel industry. She gets $490 a month from the Canada Pension Plan survivor’s benefit. Her two children, who are in their early 20s and still living at home, give her money each month for groceries. ....

Warren Mackenzie , Fred Lum , Canada Pension Plan , Greater Toronto Area , Optimize Wealth Management , Old Age Security , Personal Finance , Financial Facelift , Bernadette Financial Facelift , Investing Advice , Retirement Advice , வாரன் மெக்கன்சி , ஃப்ரெட் லம் , கனடா ஓய்வூதியம் திட்டம் , அதிகமானது டொராண்டோ பரப்பளவு , மேம்படுத்த செல்வம் மேலாண்மை , பழையது வாழ்நாள் பாதுகாப்பு , தனிப்பட்ட நிதி , நிதி ஃபேஸ்லிஃப்ட் , பெர்னாடெட் நிதி ஃபேஸ்லிஃப்ட் ,

How much should Lucy and Lance save to live comfortably and pay for care in later life?

The Globe and Mail
How much should Lucy and Lance save to live comfortably and pay for care in later life?
Published January 1, 2021
Galit Rodan/The Globe and Mail
Lucy and Lance have substantial savings, a mortgage-free house in the Toronto area and no children. With most of their net worth tied up in their $2-million house, and no defined-benefit pensions, they wonder how much of their savings they’ll need to live comfortably and perhaps pay for nursing home care when they are old. The rest they want to give to charity now while they are living rather than later in their wills. ....

Warren Mackenzie , Galit Rodan , Canada Gives Foundation , Optimize Wealth Management , Canada Pension Plan , Old Age Security , Canada Gives , Financial Facelift , Financial Advice , Covid 19 Pandemic , Coronavirus Canada , வாரன் மெக்கன்சி , கனடா கொடுக்கிறது அடித்தளம் , மேம்படுத்த செல்வம் மேலாண்மை , கனடா ஓய்வூதியம் திட்டம் , பழையது வாழ்நாள் பாதுகாப்பு , கனடா கொடுக்கிறது , நிதி ஃபேஸ்லிஃப்ட் ,