Holding lots of cash is a fake security blanket, but you won’t know it until you retire – Globe and Mail, October 30, 2024
https://www.theglobeandmail.com/investing/personal-finance/retirement/article-holding-lots-of-cash-is-a-fake-security-blanket-but-you-wont-know-it/
Rob Carrick reminds us has that holding cash assets like GICs “is suitable mainly for short-term savings goals and emergency funds, where a modest risk-free return is preferable to the potential for higher returns with a significant chance of losing money.”
Retirees should consider these ideas before year-end to save taxes – Globe and Mail, October 31, 2024
https://www.theglobeandmail.com/investing/personal-finance/taxes/article-retirees-should-consider-these-ideas-before-year-end-to-save-taxes/
Tim Cestnick reminds us that it’s “a good time to revisit your tax planning to ensure nothing gets left to the last minute” and shares “some year-end strategies for retirees.”
Financial planning for the first time? A guide for women on a single income – MoneySense.ca, October 28, 2024
https://www.moneysense.ca/financial-literacy/first-time-financial-planning-guide-for-single-women/
Renée Reardin asked three financial experts to share what Canadian women can do to save for the future? Financial planning articles for women are few and far between… Which annoys me greatly.
Retiring is complicated – working was way easier by comparison – Globe and Mail, October 28, 2024
https://www.theglobeandmail.com/investing/personal-finance/retirement/article-retiring-is-complicated-working-was-way-easier-by-comparison/
Rob Carrick talks with Ross Shears who points out that “Working was way easier by comparison, especially when one has a ‘stew’ of income streams to manage”. Retirement does involve a whole new mélange of income streams rather than a simple paycheck.
More Canadians are carrying huge mortgages into retirement. Are they in trouble, or is this the new normal? – Toronto Star, October 27, 2024
https://www.thestar.com/business/personal-finance/more-canadians-are-carrying-huge-mortgages-into-retirement-are-they-in-trouble-or-is-this/article_326381da-8b0a-11ef-8340-6b6d3fad0db8.html
Leah Golob speaks with Shannon Lee Simmons about how increasingly folks are heading into retirement who have not yet paid off their mortgages. Simmons claims that “paying off a mortgage before retirement is still excellent financial advice, it’s getting increasingly harder for Canadians to do so.”
“My Weekly Reads” are articles I have read throughout the week because they were of interest to me … for good, or for bad reasons. 🙂 Sharing them does not mean that I endorse them unless I explicitly state that. If concepts contained in the financial articles I share are of interest to you please remember that is always a good idea to ask your financial adviser’s advice when considering making changes to your financial portfolio or changing your spending habits.