What Are the Best Retirement Calculators
Most Canadians look at retirement as a single amount of money in an account that they need to have in place. Then they look at how they will draw down from that asset or live off of the earnings. IN the modern technology world many are taking the necessary time to find side hustles and other methods of creating income or cash flow to support, augment or even replace their previous retirement plans. Consider what you need in retirement. It always comes down to spendable net income. Then look at what will happen as you age with changing costs, medical inventions and health risks etc. How can you create an environment where you have peace of mind, guarantees for your income and can protect your money from market volatility? The best retirement calculator isn’t actually a calculator at all. It is a clear and crystal goal on monthly or annual income and how much of it you will need over and above any CPP or OAS incomes you may have.
Many Canadians with children and grandchildren will be able to create a passive income stream by becoming the banker for their family members needs. This can include car purchases, mortgages, and other big financing items. When done correctly and with some training and education this can create a very stable, effective way of supporting income and the family as a whole. Then when you pass away the estate values can replenish the payments streams made by those family members. Learn how to put this into action by registering for our training session.