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5 Retirement Planning Tips


Posted by A Dawn Journal

on Friday, 17 February 2012 00:00

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As the global economy plunges and retirement portfolio shrinks, many Canadians are worried more than ever for their financial well being after retirement. Some retirees will be able to maintain their expected living standard regardless of how the economy does. However, this may not be the case for everyone. If you need to work or are thinking of working after retirement, here are some tips to help you with your decision.

 

1. Some of the government programs for retirees such as Old Age Security (OAS)credit, the government pension plan (CPP), and so on may be affected if you work full- or part-time after retirement.

 

2. The best way to handle your clawbacks or drawbacks to government benefit programs is to consult a financial planner or tax specialist. They have tools andcalculators to show you exactly what your own numbers will look like based on your unique situation (as everyone’s scenarios are different)

 

3. There are free online tools and calculators available as well to help you with your retirement planning. Such online tools and calculators are available here: Retirement Tools and Calculators

 

4. Service Canada offers Canadian Retirement Income Calculator to generate retirement income information and post retirement benefit information, including CPP benefits and OAS.

 

5. Regardless of how much research you do on your own, my suggestion would be to still sit with a retirement professional and discuss your situations. Due to the complex nature of retirement benefits and clawbacks, it is worth paying for advice and take action based on accurate and updated information. 

 

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Lifestyle

Best Places in the World to Retire


Posted by The Daily Reckoning

on Thursday, 02 February 2012 19:13

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If you had $20,000 a month to retire on — you could live lavishly pretty much anywhere on the planet. But we’re interested in the places where you can live that lifestyle on one-tenth the budget…

Places where you can have a maid clean for you…hire a gardener… wake up to a view…have great health care, eat well, enjoy the finer things in life — for less than $2,000 a month. You may be surprised how many there are…

Months ago, our far-flung editors and in-country advisers began collecting all the data and details that inform our annual Retirement Index.

To compile it, we evaluate and rank countries around the world according to eight crucial categories: real estate, special retirement benefits, cost of living, ease of integration, entertainment and amenities, health care, retirement infrastructure and climate.



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