The column Where it Counts was designed to help people in the Parksville-Qualicum Beach and areas with some education and informative ideas to help with your retirement.
The column was first run by Larry Hansen, whom I met several years ago, then Cliff Broetz a good friend of mine wrote this column for a few years and passed the torch to me.
Now this is my final column after more than eight great years. I proudly pass this onto Stuart Kirk, to continue to bring great retirement planning ideas to you.
I thank you for your kind comments and questions over the years as the column also helped me write my book, Canadian Retirement Planning Mistakes (Trafford Publishing 2010).
So if you were to ask me what are some of your great retirement planning ideas over the last eight years, I would ask if you have heard of four concepts or ideas.
First everyone in retirement wants to save tax. Search the term “corporate class” and you will find a wonderful concept on how to save and defer tax each year.
Second is Canadians are generally conservative in retirement and want some guarantees or assurances with their money. Learn two concepts, deposit insurance and guaranteed minimum withdrawal benefits or GMWB plans to see how you can add guarantees in your retirement.
Third, most people want to generate income or cash flow in retirement and learn about the cash wedge and systematic withdrawl plans to generate tax efficient income and cash flow.
Fourth, learn how you can increase your yield on investments by looking at your income from investments. It is like a rental property, as long as you are collecting rental income you have a yield or return, market growth happens over time but is not predictable.
Make sure you learn about annuities, estate bonds and different income products.
I wrote my book last year and in my research very few retirement planning books, if any, talk about corporate class, GMWB and estate bonds.
Hopefully, Where it Counts gave you some retirement planning ideas and will continue to deliver what the news stands for, high quality journalism and information you can use.
Thanks to all my readers and your feedback and make your retirement a great lifestyle.
Prepared by: Grant W. Hicks RDB, C.I.M., FCSI, Investment funds advisor with Manulife Securities Investment Services Inc. in Parksville / Qualicum Beach. Information provided is not a solicitation and although obtained from sources considered reliable, is not guaranteed. The views and opinions contained in this article are those of Grant W. Hicks and not Manulife Securities Investment Services Inc. Comments or questions Grant can be reached at 954-0247 or 1-866-954-0247. E-mail: grant@ghicks.com. Web: www.ghicks.com. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
