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moneysense.ca, 3/01/08
This and That
- How much income should you plan on replacing in retirement? Money magazine interviews a retired engineer who figures spending drops in retirement because retirees worry about running out of money. His website Analyze Now has tons of free resources and articles on retirement planning.
- The Star’s Ellen Roseman wrote an article on reducing your portfolio risk.
- Canadian Dream continued his series of interviews by taking to Mike and Mr. Cheap from Quest for Four Pillars.
- Canadian Financial Stuff posted some ideas for New Year Resolutions, which are good for any time of the year.
- Canadian Mortgage Trends listed the top five trends that affected our mortgages.
- Should you spend money to save money? Mr. Cheap posted an useful thumb rule from a real-estate book he is reading.
- Larry MacDonald wrote about some tips for sticking to your New Year Resolutions.
- Million Dollar Journey shared 25 ways he saves money.
moneysense.ca, 3/01/08
Thanks for the mention CC!
Thanks for the mention.
I’d like to know what Larry’s resolution was – he mentioned he was part of the study.
Mike
Thank you CC!
Regarding New Years resolutions, the NY Times says paying off debt is the most popular New Years resolution this year. It’s overtaken losing weight (#2) and exercising (#3). What a sign of the times!
~Melanie
Thanks for the links (to the post and the interviews). Hope you enjoyed the holidays!
Interesting links – I’m starting to realize that my views of retirement are a bit unusual, probably due to the number of personal finance blogs and books I’ve started to read in the last year.
Aside from that fact that I don’t want to quit everything – I’m ok with what I do now, and simply want a bit more flexibility to get into interesting and profitable projects – I expect to have enough time to get my finances to a very secure and reliable point.
I’ve largely forgotten about pensions and social security in favour of registered accounts that I control. I used to think about running out of money, but if the stock markets continue their growth rate over the last century I don’t think it’s that hard to plan for a steady income without draining your accumulated principal, and even setting some aside for further long-term growth. I haven’t run every number but the estimates I’ve made so far seem feasible. This is probably something that takes a bit more than minimum wage, but with a little time and a moderate income I don’t think it’s that hard to avoid the uncertainty of social security.
And that’s without accounting for the possibility of long periods with dual income or starting a moderately successful businesses some time in the next 40 years
Thank you for the great link to the retirement article.
That has to be the first one in along time that made any sense to me.
I was getting tired of all of the people who were trying to save and scrimp in retirement. It did nit sound like fun.
I like the view that you may spend more on golf and skiing and travel.
Golf at the top courses in the world, summers in the south of France and the chalet at Whistler will require a serious portfolio.