Retirement

**Editor’s Note: With everyone obsessed over the tragedy enveloping our world and/or the stock market gyrations that it is causing, we decided to give readers a bit of a sunny break this week.  If you want to read our personal finance/investing thoughts on the unprecedented current events, please see our thoughts about investing in the…

After writing a deep dive article on whether the 4% safe withdrawal rate still works for retirement at various ages, I received a lot of questions basically asking: “Ok, so 4% is a good rule of thumb, but when I actually go to withdraw money from my various investment accounts, to put into my chequing…

You’ve been reading MDJ for years, have used your Questrade DIY discount brokerage portfolio to accumulate a solid nest egg that includes your TFSA, RRSP, and perhaps even a non-registered account.  Now comes the time to start your retirement drawdown or withdrawal strategy. Surprisingly, when it comes to discussing Canadian safe retirement withdrawal rates, and…

A reader emailed me recently about being a low-income senior, but with some savings ability and was wondering if it makes sense to start an RRSP or a TFSA. The email did not include a lot of details, but for the most part, my answer would be the same – TFSA. The next question is…

Since I’ve written about how much you need to save to reach $1M in your RRSP starting in your 30’s, 40’s, and 50’s, I’ve been getting questions from readers who have significant RRSP contributions.  More specifically, can you have too much in an RRSP? I haven’t been able to find any good articles online that…

I recently wrote about how you can build a comfortable retirement lifestyle even if you start a little late.  The article included a couple of examples of an investor who starts in his/her 40’s and 50’s and still result in a comfortable middle-class retirement.  But what if you want a little more during retirement?  What…

The concept of financial independence/retire early (FIRE) is all the rage in the personal finance space. The idea is to save a large percentage of your income (50% or more), live as frugally as possible, and retire in a short period of time while continuing to live frugally.   Related: How much do you need to…

I’ve written a lot about investing and how combining an early start and compound interest can really make you wealthy. But for many, just graduating from post-secondary education and just starting a career at a moderate salary, big savings is not really an option.  Especially when you combine housing costs, debt payments, vehicle payments. While…