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[IN THE NEWS] Five Retirement Planning Gaffes to Avoid

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In this article in the National Review of Medicine, reporter Sam Solomon speaks to me about the five retirement planning mistakes many make, and how to avoid them:

Five Retirement Planning Gaffes to Avoid

By:  Sam Solomon, National Review of Medicine (Volume 4, No 4), February 28, 2007

Planning for retirement can be a full-time job — but good planning means you won’t have to keep your other full-time job into your retirement years. “When it comes to retirement planning,” laughs Fred Bowie, CEO of Canada Retirement Information Centre, “it’s the lack of planning that’s the biggest problem.”

No big surprise — retirement planning isn’t easy. In fact, it can be downright scary. Once you start looking at all the arcane tax laws and frighteningly large spreadsheets, feelings of abject terror can set in. But don’t despair. Here’s how you can recognize the five biggest retirement planning mistakes, to learn what pitfalls you may encounter in your journey and how to leap over them gracefully.  READ  MORE AT SOURCE…

[IN THE NEWS] The Richest Folks in the Graveyard

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Classic Canadian Retirees, who have been used to saving all their lives may die with millions due to their frugal habits. Jonathan Chevreau interviews me on this demographic. Read on to find out if you’re a Classic Canadian Retiree, and what you should do about it.

The Richest Folks in the Graveyard

By:  Jonathan Chevreau, the Financial Post

 

As we have related in recent columns, too many “working Joes” are not taking full advantage of RRSPs. This means that if they can’t envisage living on the standard government pensions, they may need to work full- or part-time well into their 60s.

 

But at the other extreme are a minority of “super savers” so accustomed to being frugal they may die with millions. Call them classic Canadian retirees, or CCRs. READ  MORE AT SOURCE…

 

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