• Home
  • About Us
  • Money Coach
  • Education
  • Invest
  • Insurance Glossary
  • Contact Us
  • Privacy Policy
Call Us CALL | 800 748 5306 Ext 201, Direct 289 338 0543
Home
  • Home
  • About Us
  • Mortgages
    • Mortgage Rate
    • Which Mortgage | Mortgage Calculators | New Home | Refinance | Equity
    • Retirement Mortgage Services
    • The Truth About Reverse Mortgages
    • Types of Mortgages - Which One is right for you?
    • Mortgage Calculator, How Much Can I Afford?
    • Mortgage Calculator, calculate, interest, balances, & amortization schedules
    • Mortgage Calculator, Compare Mortgages Features and Terms
    • Mortgage Calculator, Pay your Mortgage Off Faster
    • Mortgage Calculator, Accelerated Debt Payoff
    • Mortgage Calculator, Should I refinance?
    • Mortgage Calculator, Rent or Buy
  • Insurance
    • Life Insurance
    • Living Benefits - Disability Insurance
    • Living Benefits - Critical Illness Insurance
    • LONG TERM CARE INSURANCE
    • Life Insurance Quote
    • Insurance Quotes & Retirement Analysis
    • Group Benefits | Group Health Insurance
    • Insurance Glossary
  • Saving
    • Saving, How To Save More Money
    • 10 Amazing Money Saving Tips
    • Personal Finance Ideas
    • Get Money Coach Newsletter
    • Tax Free Savings Accounts | What Is TFSA?
    • Registered Retirement Savings Accounts | What is an RRSP?
    • Debt Consolidation Plans and Loans - Less Stress & Worry
    • Financial Planning Education & Information
  • Investing
  • Retirement
    • Retirement Planning | Savings and Income - How Much do You need to Retire?
    • Retirement | Saving and Investing - The Challenges?
    • Retirement Planning | Taxation Before, During and After Retirement
    • Registered Retirement Savings Accounts | What is an RRSP?
    • EASY RETIREMENT CALCULATOR - Amount Needed to Retire at 60 OR 65
  • Blog
mortgages Mortgages

Save thousands with the right morgage!

Read More
life insurance Life Insurance

Understand why life insurance is important. Term or Whole Life anyone?

Read More
SavingSaving

Learn how to save more

Read More
Invest Invest

Learn how to achieve 8% to 20% returns

Read More
Retirement Retirement Services

Retirement Mortgage, Investment & Insurance Services

Read More
Debt Consolidation Debt Consolidation Services

Become debt free by consolidating learn how.

Read More
Home > Retirement > Retirement | Saving and Investing - The Challenges?

RETIREMENT - SAVING AND INVESTING

As we age our challenges often increase juggling a salaried income with ever increasing costs of living. Life happens and we forget to research and study. Then turn over our savings or portfolio to someone to manage on our behalf. I know a few 80 year old widows that still research the stock market and invest aggressively. Even though the government says inflation is down, its only down on energy, technology, materials and commodities. 

Over the last 18 months the cost of grocery items specifically food doubled in price. If you have a family of six adults to feeds that can get very expensive. Any fees that you can save will help build up that nest egg much faster.  Your money may start to accumulate and want to know where to go what to do next? Do I work with a financial adviser or do it my self?  If you pay $200 per month in some form of management fees ($2400 per year) for 40 years compounded at 4% = $238,168.22. You could save this much more by learning to manage your investments your self. CAUTION: you will have to learn to manage your investing emotions and behaviour and only buy low and sell high. Easier said than done. Buying low then selling high is the hardest behaviour to master as you're wrestling with that beast called unconscious behaviour bias. We'll be talking a lot about unconscious behaviour bias as it causes much of the upset and irrational behaviours in our daily lives.

We were taught to save into a RRSP pension account as governments around the work are increasingly short of cash they are all eyeing our pension savings accounts. There are good and bad sides to RRSP pension accounts. I know for many folks its the only way to save. There will be a day of reckoning for RRSP account owners.

Money gets easily distracted, looses focus and needs managing

  1. If you have an RRSP pension account the government will eventually become a beneficiary of your estate. (will permanent life insurance help?)
  2. Save into a TFSA. No taxes here as your money passes tax free to your partner, family then estate
  3. Save into an open investment account. For now capital gains in these are taxed at the lowest rates
  4. Learn how dividend income is taxed at a much lower rate
  5. Over paying your mortgage means you have less savings and your money has less time to compound and grow
  6. You can become quite wealthy saving and investing larger amounts when you are young
  7. Dealing with SIGNIFICANT debts when you are 40 to 60 can ruin your health
  8. Delay lifestyle purchases to stay within your budget
Facebook
Twitter
LinkedIn
Google+
Carriers
Carriers
Carriers
Carriers
Carriers
Carriers
Carriers
Twitter Logo
Tweets by @iiiorg

Resources

Home About Us Get a Quote Education Newsletter Contact Us

Contact Us

  • Mailing Address
  • 96 Kennedy Road S
  • Suite 204
  • Brampton, ON L6W 3E7
  • O: (800) 748-5306
  • E: info@agilefinancialservices.com
© Copyright. All rights reserved.
Powered by Insurance Website Builder