Financial Myths That Will Ruin Your Retirement Dreams

Introduction

Preview

The Five Main Myths

Preview

Learning Outcomes

Preview

The Spreadsheets (free)

Personal finances: Why do people simply believe what they are told?

Myth 1. If I had $1,000,000 I Could Retire

The 70% rule

Debunking the 70% Rule

Meet the Harts

Hart family expenses: now and in retirement

From myth to reality: other income sources

You don't need to maintain the fund at $1.4 million until the day you die

Social Security Normal Retirement Age

Myth 2. RRSPs, IRAs and 401(k)s are the Holy Grail of Retirement

What's really important: retirement savings or net worth

Demo of net worth calculator

Retirement savings vs paying down debt

Demo of retirement savings vs pay down debt calculator

Advantages of paying off debt vs retirement savings

The scale of life - savers vs spenders

Net Worth Calculator Spreadsheet

Retirement Savings vs Pay Down Debt Calculator

Myth 3. Don't worry about your investments; you'll be fine in the long run

The stock market (Canada)

The stock market (U.S.)

Your personal rate of return (PRR)

Required investment disclosure (Canada)

Required investment disclosure (U.S.)

Demo of personal rate of return calculator

You try the PRR calculator

DOL 401(k) disclosure info model chart

PRR Calculator Spreadsheet

PRR Calculator You Try Results

Myth 4. Income taxes are the enemy

Taxes (yuck!)

Myth 5. Buy Permanent Life Insurance to Secure Your Financial Future

Life insurance basics

Life insurance types

Chart of term life vs universal life

Disadvantages of universal and whole life

Term Life CPA Select IP annual rates

Critical illness insurance

Long-term care insurance

The Retirement Optimizer

Lower-income Canada example introduction

Demo of Retirement Optimizer Canada - lower income

Lower-income Canada example results

Higher Income Canada example introduction

Demo of Retirement Optimizer Canada - higher income

Higher income Canada example results

US example introduction

Demo of Retirement Optimizer US

U.S. example results

Now it's your turn

Retirement Optimizer Canada Spreadsheet

Retirement Optimizer US Spreadsheet

Behavioral economics

The basics

The details and how to use them to your advantage

Conclusion

You're done!

Demo of Retirement Optimizer Canada - higher income

Financial Myths That Will Ruin Your Retirement Dreams The Retirement Optimizer

By: David

3 minutes

Share the link to this page

Copied

Facebook

Twitter

Add the class to your calendar

Add to Google Calendar

Add to Apple Calendar

Add to Yahoo Calendar

Add to Outlook Calendar

Completed

You need to have access to the item to view this lesson.

One-time Fee

$69.99

List Price: $99.99

You save: $30

€67.23

List Price: €96.05

You save: €28.81

£54.79

List Price: £78.28

You save: £23.48

CA$100.29

List Price: CA$143.28

You save: CA$42.98

A$112.09

List Price: A$160.13

You save: A$48.04

S$94.52

List Price: S$135.03

You save: S$40.51

HK$543.88

List Price: HK$777

You save: HK$233.12

CHF 61.94

List Price: CHF 88.49

You save: CHF 26.55

NOK kr788.73

List Price: NOK kr1,126.80

You save: NOK kr338.07

DKK kr502.03

List Price: DKK kr717.22

You save: DKK kr215.19

NZ$123.81

List Price: NZ$176.87

You save: NZ$53.06

د.إ257.07

List Price: د.إ367.26

You save: د.إ110.18

৳8,350.53

List Price: ৳11,929.84

You save: ৳3,579.31

₹5,977

List Price: ₹8,538.94

You save: ₹2,561.93

RM314.04

List Price: RM448.65

You save: RM134.61

₦108,176.53

List Price: ₦154,544.52

You save: ₦46,367.99

₨19,454.09

List Price: ₨27,792.76

You save: ₨8,338.66

฿2,391.55

List Price: ฿3,416.65

You save: ฿1,025.10

₺2,463.31

List Price: ₺3,519.17

You save: ₺1,055.85

B$446.27

List Price: B$637.56

You save: B$191.28

R1,312.34

List Price: R1,874.85

You save: R562.51

Лв131.59

List Price: Лв188

You save: Лв56.40

₩101,993.60

List Price: ₩145,711.39

You save: ₩43,717.78

₪255.42

List Price: ₪364.90

You save: ₪109.48

₱4,105.61

List Price: ₱5,865.41

You save: ₱1,759.80

¥11,000.67

List Price: ¥15,715.92

You save: ¥4,715.24

MX$1,411.29

List Price: MX$2,016.21

You save: MX$604.92

QR254.14

List Price: QR363.08

You save: QR108.93

P970.50

List Price: P1,386.50

You save: P415.99

KSh9,031.50

List Price: KSh12,902.70

You save: KSh3,871.20

E£3,557.88

List Price: E£5,082.90

You save: E£1,525.02

ብር8,897.26

List Price: ብር12,710.92

You save: ብር3,813.65

Kz63,830.88

List Price: Kz91,190.88

You save: Kz27,360

CLP$69,240.40

List Price: CLP$98,919.10

You save: CLP$29,678.70

CN¥510.85

List Price: CN¥729.82

You save: CN¥218.97

RD$4,256.60

List Price: RD$6,081.12

You save: RD$1,824.52

DA9,455.74

List Price: DA13,508.78

You save: DA4,053.03

FJ$162.28

List Price: FJ$231.84

You save: FJ$69.55

Q538.26

List Price: Q768.97

You save: Q230.71

GY$14,619.81

List Price: GY$20,886.35

You save: GY$6,266.53

ISK kr9,767.10

List Price: ISK kr13,953.60

You save: ISK kr4,186.50

DH704.68

List Price: DH1,006.73

You save: DH302.05

L1,289.28

List Price: L1,841.91

You save: L552.62

ден4,135.94

List Price: ден5,908.74

You save: ден1,772.79

MOP$559.01

List Price: MOP$798.63

You save: MOP$239.61

N$1,299.34

List Price: N$1,856.28

You save: N$556.93

C$2,571.30

List Price: C$3,673.45

You save: C$1,102.14

रु9,517.06

List Price: रु13,596.38

You save: रु4,079.32

S/260.20

List Price: S/371.74

You save: S/111.53

K283.61

List Price: K405.18

You save: K121.56

SAR262.82

List Price: SAR375.47

You save: SAR112.65

ZK1,933.89

List Price: ZK2,762.82

You save: ZK828.92

L334.85

List Price: L478.38

You save: L143.52

Kč1,692.49

List Price: Kč2,417.95

You save: Kč725.45

Ft27,633.93

List Price: Ft39,478.73

You save: Ft11,844.80

SEK kr761.65

List Price: SEK kr1,088.11

You save: SEK kr326.46

ARS$71,885.87

List Price: ARS$102,698.50

You save: ARS$30,812.63

Bs482.86

List Price: Bs689.84

You save: Bs206.97

COP$308,852.42

List Price: COP$441,236.66

You save: COP$132,384.23

₡35,480.70

List Price: ₡50,688.88

You save: ₡15,208.18

L1,775.44

List Price: L2,536.46

You save: L761.01

₲544,980.94

List Price: ₲778,577.57

You save: ₲233,596.63

$U3,110.44

List Price: $U4,443.67

You save: $U1,333.23

zł286.56

List Price: zł409.39

You save: zł122.83

Already have an account? Log In

Financial Myths That Will Ruin Your Retirement Dreams

Demo of Retirement Optimizer Canada - higher income

Sign Up

Sign Up

Share