I'm 60 With $700,000 Saved - Can I Retire Today?

[@johnwalls2451]

I agree with others here, case studies are great, and very often helpful to one’s own specific situation. Keep them coming!

[@lindar7689]

Yes please more case studies! Love your content. Thanks so much!

[@ParallelWealth]

You got it!

[@mikealex42]

I love the case studies, but a common problem on your channel and many others is a lack of information for singles. The number of single people making it to retirement, either due to divorce or in my case never getting married, I think is growing but there is a real lack of valuable information out there covering this demographic. I love the case studies, but please include more diverse demographics than just "Jane & Joe KZbin".

[@ParallelWealth]

We have done a LOT of single specific videos and will continue to do so. One of the next few case studies will be single focused!

[@subbireddyanisetty8060]

Thank you,Adam

[@ParallelWealth]

My pleasure!

[@MonsieurLabbe]

Love your content, amazing source of information ❤

[@colinmagee5155]

Great video. Love this idea of walking through actual case studies of real clients. One thing I would like to see in each though is a stress test, which I am sure you did with them. Different people have different what if's but would be willing to wager the #1 what if is, what if one of us dies early? Will the remaining spouse be ok?

[@justbeingdad62]

Thank you

[@ParallelWealth]

You're welcome

[@RickMoll-k9o]

Could you possibly do a video with rental income involved? I find the videos very informative, but find they quite often leave out some of the different sources of income. Thanks.

[@Jacquie_Kirk_111]

And what happens when one of them dies, and the lose ONE CPP, this is a drastic reduction of their income! You need to tell your viewers about this!

[@forgetthatgirl]

You would be eligible for survivor benefits. Its not 💯 but its better than nothing

[@BusterDarcy]

And they can live off their remaining nest egg that was meant for two as just one person now, so essentially they’d have a surplus

[@alanj9978]

@@BusterDarcy Maybe, maybe not. If they were spending both CPPs and both OASs then probably not. The CPP survivor benefit isn't much if you were both working, and OAS is just gone. Even pensions aren't always dual-life, you might only get 5 or 10 years of your spouse's pension and then that's gone too.

[@ParallelWealth]

Oh we have lots of videos on that, and one coming in a couple weeks that will blow your mind! Too much misinformation our there. Stay tuned.

[@Carnegiered52]

Once you’re certain you can pull the plug, hang in there one or two more years. It’ll go by quickly and you’ll sleep better in retirement. May you all find inner peace.

[@chantaldanbondy1573]

Thanks for the video. Can you please comment on reverse mortgages. So many commercials on t.v. for them. If you could share your thoughts, that would be appreciated.

[@Irshadba99]

Adam will be the best person to commend, HELOC will be the best option. Lower interest rate .

[@Sherilewis1]

Retirement at 55. With currently close to $1M in retirement savings -Husband & Wife... Husband $515k rsp, $16k tfsa, wife $402k rsp, $25k tfsa. Currently 50 & 49.

[@DD-ll8sb]

What if one of them dies at 79 yrs old?

[@LauraElenaKD]

Imagine this: you’re sipping coffee on a balcony overlooking a city skyline or lounging on a pristine beach, all while your investments are working their magic. With copytrading, you can finally pursue your passions, travel the world, and create unforgettable memories with your loved ones. It’s all thanks to the power of copytrading from Sophia E. Haney and the life you’ve always dreamed of!

[@jamesanabel-w5u]

Guess what? I’m celebrating a $500k stock portfolio today! It all started with a modest $70k, and I’ve been making smart investments that have paid off tremendously. Now, I have the time to enjoy my family and plan for the future. Copy trading has been a game-changer for me.

[@JackRehand]

I’m curious, do you have a professional broker who helps you with your investments? If so, I’d love to learn more about how you work with them.

[@LauraElenaKD]

Can't share much here, I take guidance from ‘Sophia E Haney’ a renowned figure in her industry with over two decades of work experience. I'd suggest you research her further on the web.

[@LauraElenaKD]

SHE’S MOSTLY ON TELEGRAMS APPS WITH HER NAME

[@LauraElenaKD]

Sophiahaney she’s verified

[@Level70-x4d]

What happens if they live until 99?

[@ImVeryBrad]

CPP and OAS would cover their expenses and last until they die

[@paulnardo7987]

MAID

[@Level70-x4d]

@@paulnardo7987 😂 Better budget that in for myself..

[@BusterDarcy]

Yeah by delaying cpp to the max they will likely be fine living off that and oas for their waning final years beyond 90

[@vm6824]

Gee, I'm SO shocked the bank made a crappy plan.....eye roll

[@alanj9978]

I bet they paid a lot in mutual fund fees though.

[@barbaraweisdorf2387]

Would love to see a case study of a single woman with defined benefit of 43000, 200000 rrsp, 175000 tfsa, 200000 in non registered, Age 62, retiring at 63, no health issues, plan to wait to 70 for cpp, and oas. Would like 70000 after tax.

[@ParallelWealth]

And now everyone knows your situation :) LOL. Yes, we will do some singles case studies as well.

[@photoMorg]

don't get any advise from your bank !

[@peterojable]

at 60 you age well

[@alexkuhnert6856]

A great vid. But while I agree with you that the bank most likely offered a really poorly thought out retirement decummulation plan, the recommendation that they work 2 more years was actually not a bad recommendation - you have made it often yourself as a means to beefing up the robustness of other folks plans.

[@ParallelWealth]

But for this client (which was the focus) they wanted to retire asap. So why would they work 2 more years if they didn't have to?!

[@laundrygoddess4]

I don't know when people will learn that you need to go through a proper financial planner and not someone at the bank with quotas in order to maximize your investments

[@M.A.Q2304]

Yes, but not everyone can afford their fees. Banks do it for free.

[@colinmagee5155]

@@M.A.Q2304 Correct not everyone can but even if on the cusp, should really look into what may end up better. Their Household Retirement Plan costs $4000 and got them to retirement now with income they required. Free bank plan had them working 2 more years. Which is better is an individual decision but can guarantee 1000% which I would choose

[@elp2689]

@@M.A.Q2304TD told me I would have to pay to get a personalized plan done by someone there.

[@ParallelWealth]

The bank is not free..in fact very far from. Our plans will typically save tens to hundreds of thousands. Yes it's an up front fee, but it's better than paying all those extra taxes to CRA.

[@laundrygoddess4]

@@M.A.Q2304 banks don't do anything for free. You can pay two ways: up front fee or trailer fees. You can negotiate both with a proper financial advisor. Not so much a bank. Their costs are higher but hidden and they sell you what makes them the most money and not what is necessarily in your best interest. There are lots of exposes about how corrupt the bank investment sector is. Go check it out.

[@Irshadba99]

Case studies are the best, you may want to use board and write it on the board without using Snap Projection. Great Video. Keep up the good work!!!!

[@guylevesque5401]

This was a wast of time. Who in their right mind would spend TFSA before RIFFs. Makes no sense. No pro is that incompetent. The RRSP meltdown is obvious and waiting for CPP later. No big amazing trick here. Sorry, I call it like I see it.

[@elp2689]

But sadly people who don’t know are being told this bad information by so called experts.

[@ParallelWealth]

Oh man, go get a plan from the bank. While I completely agree with you, what we presented here is the reality many face in the plans they receive.