3 Retirement Risks That You Need to Know in Canada

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  • Опубликовано: 22 окт 2024

Комментарии • 25

  • @ThomasCChan
    @ThomasCChan  Год назад

    Thanks for watching!
    Don't forget I have a webinar coming up in 5 DAYS!
    How to supercharge your saving in 2023!
    www.eventbrite.ca/e/how-to-supercharge-your-wealth-in-2023-in-canada-registration-514388859927

    • @outlander1969
      @outlander1969 Год назад +1

      Are all the 100 spots gone?

    • @ThomasCChan
      @ThomasCChan  Год назад

      @@outlander1969 not yet. You can use the link above to reg

    • @outlander1969
      @outlander1969 Год назад +1

      @@ThomasCChan I did but it's asking for payment

    • @ThomasCChan
      @ThomasCChan  Год назад

      @@outlander1969 correct. It's $5 dollar to reg. 🙂

    • @jaimesmith1086
      @jaimesmith1086 Год назад +1

      @@ThomasCChan I think it should be free

  • @marthachirip8633
    @marthachirip8633 Год назад +1

    Could I have the link please.

    • @ThomasCChan
      @ThomasCChan  Год назад

      Hi Martha. Sorry we just finished.
      Next time 😃

  • @smilesoulhealing
    @smilesoulhealing Год назад +1

    Thank you!

  • @breezybre2670
    @breezybre2670 Год назад +1

    Thomas..I believe you would get more subs if you did not have background music. Many people such as myself can not listen to videos with background music due to sensory issues and adhd.

    • @ThomasCChan
      @ThomasCChan  Год назад

      For sure Breezy! I already cut the volume down.
      I guess I have to remove it completely

    • @breezybre2670
      @breezybre2670 Год назад

      @@ThomasCChan Truly grateful!!! I love the content but the sensory issues are just to difficult.

  • @rb239rtr
    @rb239rtr Год назад +1

    with the 4% rule, remember to subtract your other income such as CPP and OAS to get what you need in a RRIF. So if you delayed CPP to 70, the example would be changed to needing $850,000 in RRIF to require comfortably. And if you owned your own home, that number is smaller because you can sell and downsize or take a loan against it. And if you have other savings, use these prior to taking CPP
    So the dollars needed to retire comfortably is not so large, most canadians retire successfully with a smaller retirement portfolio.
    Deferring CPP and OAS will lessen longevity risk- CPP will never go downm unlike the market-

    • @ThomasCChan
      @ThomasCChan  Год назад

      Hi Richard,
      Thanks for filling in.

  • @vicgill1980
    @vicgill1980 Год назад +1

    How about how to transfer wealth in tax efficient manner

    • @ThomasCChan
      @ThomasCChan  Год назад

      Hi vic. Yes. That's part of the tax risk. Which I forgot to add in!
      Thank for reminding me!

  • @billyrock8305
    @billyrock8305 Год назад +2

    Poor Health in retirement? You’re F’d.
    The amount of retirement savings is immediately useless.

    • @ThomasCChan
      @ThomasCChan  Год назад +1

      Correct. That's why the longestivy and qualify of health is important

    • @billyrock8305
      @billyrock8305 Год назад +1

      Precisely correct T.
      The #1 wealth producer is your income. #2 is how much you save.
      Live to impress yourself, not others. The new symbol of wealth is no debt. Not a shiny BMW the bank owns and lets you rent for a high interest producing fee.