{"id":7008,"date":"2019-10-01T15:58:04","date_gmt":"2019-10-01T19:58:04","guid":{"rendered":"https:\/\/finvest.ca\/?p=7008"},"modified":"2019-10-01T15:58:05","modified_gmt":"2019-10-01T19:58:05","slug":"freedom-55","status":"publish","type":"post","link":"https:\/\/finvest.ca\/en\/freedom-55\/","title":{"rendered":"Freedom 55"},"content":{"rendered":"

September 25th, 2019<\/p>\n\n\n\n


Freedom 55 … 60 … 65 … 70 …<\/strong><\/p>\n\n\n\n


With its \u00ab\u00a0Freedom 55\u00a0\u00bb ad, London Life made age the most important factor when it comes to retirement.
Oh! As things have changed in recent years! We are talking less and less about the retirement age (except our politicians), but about the concept of retirement. What is retirement today and what kind of retirement do people envision?<\/p>\n\n\n\n

What is retirement all about?<\/strong>
Bye Bye Boss: Many people will be able to retire by suddenly quitting their job. But for many it’s a different thing. I invite you to read this excellent article in the Journal Le bel \u00c2ge, which summarizes as follows: \u00ab\u00a0Retirement is meaningless if it only serves to have fun. We must continue to learn, to realize and to be useful to society \u00ab\u00a0. To read the full article (in French): click here<\/a>

We have been coerced by society to live at a 100 mile an hour pace. Do you think you can stop suddenly at retirement? Some retirees return to work to fight boredom, but others for lack of money, I agree.

Retirement is no longer just a question of age! What will I do with my newly found freedom and will I have enough money?<\/strong><\/p>\n\n\n\n

How can you appraise your financial needs come retirement?<\/strong>
Thorny question if there is one.
Take a sheet of paper and divide it into two vertical columns. Left: How much does it cost me today for … clothes, food, etc. In the right column, how much will it cost me in retirement? Do not forget the extras (trips …). Do the same thing for incomes and estimate your annual shortfall that you will have to cover using your retirement fund.<\/p>\n\n\n\n

Simple, you would say? Maybe! But when it comes to your dream retirement, the expert is you!<\/strong><\/p>\n\n\n\n

Let’s talk this over together!<\/strong><\/p>\n\n\n\n

TFSA or RRSP<\/strong>
Here is another issue more and more debated by the experts. If you\u2019re taxable income (earned income less basic personal exemptions) is under $ 50,000, your tax refund will be approximately 35% for every dollar invested in an RRSP. When the time comes at retirement to withdraw money from your RRIF you will have to pay income tax on both your capital and its growth.
The amounts invested in a TFSA are not deductible from your taxable income, we agree, but neither capital nor growth will increase the size of your withdrawals or affect your Old Age Security pension or guaranteed minimum income.
RRSPs and TFSAs should be part of your retirement strategy, regardless of your level of income.<\/p>\n\n\n\n

Let’s talk this over together!<\/strong>

Life insurance or health insurance<\/strong>
You are 35, 40, and 50 years old and we have established a retirement strategy that allows you to anticipate a happy retirement without sacrificing your lifelong well-being.
Twenty-five years ago, life insurance was the main issue. Today it\u2019s become different. Did you know that an individual between the ages of 35 and 50 is much more likely to have a critical illness or become disabled than to die? Look around you, cancer, cardiovascular diseases are increasing. People survive, but often by gobbling up their retirement funds.
Any retirement strategy should consider the high probability that you will have a critical illness and or a disability before you reach it.<\/p>\n\n\n\n

Let’s talk this over together!<\/strong>

As for my retirement, I’m not talking about Freedom 55 anymore, but about my Freedom, period!

Mauro DiCesare, B.Comm, Pl.Fin<\/strong>Planificateur Financier\/Financial Planner 
Financial Security Advisor\/Conseiller en S\u00e9curit\u00e9 Financi\u00e8re avec Groupe Financier Finvest Inc.
Mutual Fund Representative\/Repr\u00e9sentant en \u00e9pargne collective avec Investia Services Financiers Inc.
514-376-7771\n\n<\/p>","protected":false},"excerpt":{"rendered":"

September 25th, 2019 Freedom 55 … 60 … 65 … 70 … With its \u00ab\u00a0Freedom 55\u00a0\u00bb ad, London Life made age the most important factor when it comes to retirement.Oh! As things have changed in recent years! We are talking less and less about the retirement age (except our politicians), but about the concept of […]<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[68],"tags":[],"class_list":["post-7008","post","type-post","status-publish","format-standard","hentry","category-non-classe-en"],"yoast_head":"\nFreedom 55 - Finvest<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/finvest.ca\/en\/freedom-55\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Freedom 55 - Finvest\" \/>\n<meta property=\"og:description\" content=\"September 25th, 2019 Freedom 55 … 60 … 65 … 70 … With its \u00ab\u00a0Freedom 55\u00a0\u00bb ad, London Life made age the most important factor when it comes to retirement.Oh! 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