8 Tips to Retire Early in Canada

[@bernardogutierrez9693]

I got to Canada 2 years ago. I wish I knew this before! But, yeah! Great information! Thank you!

[@croweprivatewealth]

Never too late to start! Happy to hear this was helpful for you.

[@VenuzMartinez]

Hello, thanks for your video👍. Question: what happen with the money I put in the RRSP for 20 years if I die before the of 65 years old?

[@croweprivatewealth]

Upon passing, an RRSP can be transferred to a spouse or child if they are a "qualifying survivor". A qualifying survivor must be 71 years old or younger and be a spouse, common law partner or financially-dependent child or grandchild. An RRSP can also be left to a charity or non-qualifying survivor. In the case of a charity, the RRSP funds are taxed in the estate and then donated. In the case of an individual, the RRSP will be taxed in the estate and then distributed to the beneficiary of the RRSP. If you do not name any beneficiary for your RRSP, then the value of your RRSP will be taxes as income in your final return and any remaining amounts will be paid out to your living spouse, children or next of kin.

[@WaldronsSousas]

Overall, 60% of traders think this year would favor stocks, mutual funds, and other equity-based investments, despite Treasury yields and other safer cash-like investments paying big. I’m looking for opportunities in the market that could fetch me $1m ahead of retirement by 2025.

[@BoianOlenberg]

Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience. If you're new to investing or don't have much time, it's best to get advice from an expert.

[@JeffreysSuttons]

@@BoianOlenberg Inflation is gradually going to become part of us and due to that fact, any money you keep in cash or a low-interest account declines in value each year. Investing is the only way to make your money grow. Unless you have an exceptionally high income, investing is the only way most people will have enough money to retire.

[@WaldronsSousas]

@@JeffreysSuttons How can one find a verifiable financial planner? I would not mind looking up the professional who helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.

[@JeffreysSuttons]

@@WaldronsSousas The beauty of MARGARET MOLLI ALVEY approach is her dual focus: while aggressively pursuing profit opportunities, she's equally tenacious about shielding investors from potential pitfalls. It's a balance few can achieve.

[@WaldronsSousas]

@@JeffreysSuttons Thank you for this tip. it was easy to find your coach. She seems proficient considering her résumé.

[@downtownbrowne77]

That is great info. Thanks for your time!

[@croweprivatewealth]

Happy to help! Thank you for the comment.

[@jdavid1707]

i would add: cut your investment fees. for many people, these fees could be one of their top 10 annual expenses!!

[@croweprivatewealth]

Agreed! Management fees need to be considered in your overall financial management and we discourage the use of mutual funds where possible to bring fees down.

[@APICSKH]

@@croweprivatewealthI don’t mind paying a mutual fund 1.50% MER if it is growing at 7-10%/year. For working class it’s not easy to invest in stocks. I tried and sitting at 3-5% return in one account which I managed by myself over past 5 years, where as my work RRSP grew nearly 15% in mutual funds.

[@CalmPlains]

"Really great budgeting apps" ? ... For Canada? Which are the top 3 you recommend?

[@Miktro1]

Thank you.

[@alex630710]

Very helpful, thank you.

[@LiveLifeLori]

I wouldn't say cars are assets, as they lose their value pretty quick....but otherwise, great tips

[@miketheyunggod2534]

Look up the definition of asset buddy before you type a ridiculous comment.

[@LiveLifeLori]

@@miketheyunggod2534 a car is a DEPRECIATING asset. Look up what depreciating means before you type a ridiculous comment. 🤦‍♀️

[@JS-jh4cy]

First have a billion dollars so you can live on million dollars budget over 33 years

[@JS-jh4cy]

Everyone down to two meals an day going forward

[@miketheyunggod2534]

One tip is all you need. Fire your financial advisor. They are ALL crooks. They steal YOUR money. Criminals!

[@gordiebrown4878]

Try , no children 😂

[@dev4statingx90]

Retirement? In Canada? Hahahahaha. Good luck