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The Making of a Millionaire - A Canadian Personal Finance Story. Come follow the story of a 20 something year old on his journey to become a millionaire by the ripe age of 35. Daily postings on topics such as personal finance, investing and making money
Recent Posts Tagged With 'Retirement'
Case Study: Retirement Soon, RRSP or Mortgage?
Kayla from PEI emailed me for some advice about her financial situation. She is 50 with a mortgage and small RRSP. She’s wondering where she should focus her money as she hopes to retire when she is 55. Here is more information about Kayl...
Guaranteed Income Supplement (GIS) and GIS Clawback
I received an email from a senior reader (married) recently who was wondering what he can do about avoiding the GIS clawback as he was soon due to convert his RRSP to an RRIF thus a forced withdrawal. Before we get into the question, lets start with ...
Retired at 31: An Early Retirement Story
I’m proud to introduce “Retired at 31″ (we’ll call him John), a regular contributor on Canadian Money Forum. As his handle indicates, he retired at the ripe age of 31 with $1.7 million in net worth. Like most millionaires,...
Case Study: 60 Years Old, Lots of Cash, No Portfolio - The Portfolio
Yesterday, I went over the income projection of Dave’s $1 million portfolio that “should” last him for the rest of his life. Today, I want to go over a few portfolio options to generate that income. The Portfolio As I am no where ...
Case Study: 60 Years Old, Lots of Cash, No Portfolio - The Income
Tim emailed me regarding his father in law’s financial situation. Basically, his father in law is single, no retirement savings, but a ton of equity in real estate which he’s going to liquidate soon to fund his retirement. Tim realize...
Old Age Security and the OAS Clawback
A reader asked me to write about retirement benefits so instead of writing a huge article, I thought I would split it up into separate topics. Lets start with Old Age Security as it’s perhaps one of the more popular seniors benefits for Canad...
How Much Do You Need to Save for Early Retirement?
I’ve been thinking a lot about early retirement lately and what exactly would be required to walk away from the day job and live completely off my portfolio. As I was pondering this, I started to question whether or not I was saving enough mo...
