Not many videos that talk about downsizing or even selling and renting. Many videos assume retires will stay in their 2500sqft home till the nursing home is needed. My wife and I have always planned to sell once retired and downsize or rent. I’m 57 and many close to my age really don’t have a connection to our house like our parents did. Thanks for touching on this topic
@Northern_Squirrel
5 ай бұрын
Love the video David, I have a comment regarding downsizing and what to do with the excess capital. In your example, the dilemma most will face is what to do with 1.2 million. Many people in Canada invest large chunk of money in a non-registered account for dividend income/dividend tax credit. Problem in Canada is we only have a few sectors to invest for decent dividend, financial, energy, utilities and telecom. Unfortunately, all sectors I mentioned here have very little growth, mostly income oriented, and depends on when you put the lump sum investment, you may not even get your principle back over a long period. In many cases, most ended up having largest percentage invested in Canadian economy vs growth elsewhere. As for seeking professional financial planning, I have considered but haven’t made up my mind yet.
@AaronWealthManagement
5 ай бұрын
Thanks for your comment. I agree with you on the sectors. I think it depends on how old you are when you downsize. If your 80 you might have a goal to start gifting money to your kids vs downsizing earlier and purchasing income producing assets.
@billyrock8305
5 ай бұрын
Awesome video! 👍 #1. Make sure you have no debt before you retire. ✅ #2. Get a good read on regular fixed costs. (Groceries, gas, insurance etc.) # 3. Delay CPP and OAS to 70. (Unless unhealthy) #4. Meltdowns RRSP 60-70 higher rate. Retune when CPP and OAS arrive. #5 - Downsize to Condo. (More single retired case studies please. About 70% of folks I know age 65+ live alone. Single, divorced, widowed etc., ).
@robertroy243
5 ай бұрын
Good videos I’ve been educating myself with videos and my Bank investing specialist and now confident on my own retiring at 59 one year to go
@manonbreton-couture3464
5 ай бұрын
It seems expensive to get a plan so I’m trying to do it myself!
@AaronWealthManagement
5 ай бұрын
Thanks for watching the video. Whenever you use the word expensive ask yourself compared to what? Depending on your situation, a plan may save you hundreds of thousands of dollars. Is that good value? Also how do you value confidence and peace of mind in retirement?
@billyrock8305
5 ай бұрын
Great video! 👍
@bradhann4611
5 ай бұрын
Hi there, great video. I am still 10-12 years from retirement, so I ask at what point should we have a plan. Right now I am focused on debt pay down and investing for our retirement? Thank you.
@AaronWealthManagement
5 ай бұрын
@@bradhann4611 you should have a plan the first time you starting investing modelling various investment strategies including withdrawal strategies. Measure each scenario against one another to decide which outcome is best for you.
@eball1388
5 ай бұрын
How can you just say $125,000 a year prices keep going up every year you have to have some growth on the pull out amount every year. Our house insurance went up at 46% this year.
@AaronWealthManagement
5 ай бұрын
If you look at the video again, the $125K is after-tax in your hand. The column to the right of it is the inflation adjusted amount.
@DoneByD
5 ай бұрын
Look at the nominal dollar column at 2:15 which is the actual money being spent to keep the equivalent future spend equal to $125,000 spend today.
@DoneByD
5 ай бұрын
Interesting... Are you using Snap Projections software or something else?
Пікірлер: 15