There is a lot of confusion when it comes to retirement planning. How much will a family need to retire comfortably? Are RRSPs, 401(k)s and IRAs the best answer? Can the stock market be trusted?
The standard answers from the “experts” include: start saving for retirement early (hey, why not start when you’re two!) and maximize your contributions every year even if you have to borrow, use the stock market and mutual funds for the best returns, put faith in a financial adviser. But what if those answers are wrong?
The problem is that much of the common advice is from people with a conflict of interest. Many are simply trying to sell financial products that make them money at your expense. This course is designed to cut through the sales pitches and get to the simple truth. It is for anyone sick and tired of the status quo of confusing investment products, high fees, and lousy returns.
Topics Include:
The five main retirement myths:
If I had $1,000,000, I could retire. Why most people will be fine with nowhere near as much.
RRSPs, 401(k)s and IRAs are the holy grail of retirement. Explore an alternate strategy that is guaranteed, has no-risk, and eliminates fees.
Don’t worry about your investments: You’ll be fine in the long run. Why you may not be making the ten percent a year they often talk about. What your adviser doesn’t want you to know and how to calculate your investment rate of return.
Income taxes are the enemy. How tax schemes and shelters sabotage your finances and why they should be avoided at all costs.
Buy permanent life insurance to secure your financial future. Who needs it, who doesn’t, the perils of whole and universal life, how to get term life cheap. Critical illness and long-term care insurance.
Other subjects:
Behavioral Economics: Why we seem to be wired to be bad at finances and what to do about it?