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If I Retire, How Will I Know When It's the Weekend? Your questions answered on how to plan, invest, and live in retirement! von Wronski, Kathleen L. (eBook)

  • Erscheinungsdatum: 10.02.2016
  • Verlag: Kathleen L. Wronski
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If I Retire, How Will I Know When It's the Weekend?

Your questions answered on how to plan, invest, and live in retirement!


    Format: ePUB
    Kopierschutz: none
    Seitenzahl: 270
    Erscheinungsdatum: 10.02.2016
    Sprache: Englisch
    ISBN: 9780991758128
    Verlag: Kathleen L. Wronski
    Größe: 1998kBytes
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If I Retire, How Will I Know When It's the Weekend?

CHAPTER 1 Introduction "We make a living by what we get, but we make a life by what we give." - Winston Churchill T his is a revised and expanded version of the first edition of my earlier book, If I retire, how will I know when it's the Weekend? A revision was very necessary because things change. Firstly federal and provincial governments change the tax, investment and retirement rules. Then governments change. Then, the newly elected government change those rules. Again. The knowledge in my book is current as of December 2015. If you work with an advisor, an accountant, or a lawyer, it is good to check with them on the most current rules and knowledge if you are reading this book long past the January 2016 publication date. Also check with the internet sources that the information you are working with has not changed from my publication date. An example of such a change is the proposed increase in the age of eligibility for the collection of the Old Age Security benefit. The former government passed legislation to delay receiving the benefit until the age of 67 years. The recently elected government (Liberal 2015) has promised that they will not increase the age of eligibility. However, as the new government looks over the fiscal finances and the projected longevity gains of the citizens of Canada will they actually keep the current eligibility at 65 years? Furthermore not only have Canadian governments been changing the rules, the U.S. government has been very, very busy. There have been many changes affecting "snowbirds" that spend time in the U.S. A new chapter for U.S. citizens and Canadian snowbirds is needed and has been added, as there are many more tax and estate implications for those people who spend time in the U.S. Finally, many readers had suggested they would like to see more information and detail on chapters such as the Estate Planning and Can you Afford to Retire? There are also changes happening in the wealth advisory world with the introduction of web based investment services, also known as "robo-advisors", and changes to the disclosure of fees that you are paying your bank or advisor for investments services. Lastly in this edition I have included a glossary of investment terms and acronyms you will encounter as you expand your retirement and investment knowledge. Retirement. Maybe you've planned for it, maybe you've dreaded it, maybe it has taken you quite by surprise, but barring an early death (which would mean, among other things, the utter lack of requirement for you to read this book), retirement is either in your future or it is now. If you're like me, you have plans for when you finally retire: travel plans, plans to keep fit, and maybe plans to spend more time with your children or grandchildren. And maybe, again like me, your challenge is to devise a means through which you might ease into full retirement by continuing to work at a career you really like, but at a more relaxed pace. Either way, now is the time to take stock of your finances, your health, your family and your social network. Do you have enough to retire? Have you spent enough time with your family and friends so that you'll have a robust social network in retirement? How will you be paid in retirement? How will you keep yourself healthy? Can you work in retirement? What opportunities should you take advantage of in retirement? What should you be wary of? I have observed some very successful and some not-so-successful retirements. I would like to pass on the best practices that I have observed. While I have a business degree, many investment, planning and insurance designations, and 30 plus years of experience working in the investment field, it's really my clients who have been my best teachers. I have been there right alongside peopl

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