Good news (for mainly Canadians) New book on retirement planning
When I was in the library the other day, I happened to notice a yellow stripe across the cover of a book on a display near the front door.
It said, "QUICK PICK 7 day loan period ... no renewals or holds ... Late charges $2.00/day $10.00 max". Rather than the usual 3 weeks for books ... and $0.15 penalty/day late charge. A very popular book - and with good reason, I think!
It's "NEW RULES of Retirement" ... What Your Financial Advisor Isn't Telling You", 2008, by Warren A. Mackenzie and Ken Hawkins, publisher Collins, a division of Harper Collins.
Most financial agencies, when hiring advisors, seek not primarily advisors, but sales people. Some have little or no training or experience as advisors.
Many of us used to work for one employer throughout our career ... and retired to receive a defined benefit for life, sometimes with an escalator for inflation.
No longer ... now many work for various employers and often have an inadequate pension, if any. We are living longer, in better health ... and many want to retire early, but many may choose to carry on some other income-producing pursuit through a number of those years (often not through necessity).
Many of us may not need as large an asset as some of the advisors have recommended ... they are, after all, wanting to sell their employers' financial stuff. Usually their income depends at least partially, sometimes entirely, on the amount of that stuff that they can sell. Plus ... some kinds of financial instruments pay better commissions than others.
Many don't get to retire at the time that they'd expected: illness, caregiving of parent(s)/spouse, layoff, etc. often scuttles our plan.
[Ed's comment: Evaluate your potential needs carefully, though, for many have plans (if they actually have them) that will be inadequate to fund a retirement at a level that they'll desire].
Good wishes for effective planning for that attractive retirement. And implementation of the plan.
The earlier that you start - the better.
I'll have to read quickly - as I've only got about a quarter of it read ... and (now early Tues. morning) it's due Saturday. And likely I'll want to go back to re-read portions.