The Procrastinator's Guide to Retirement: How You Can Retire in 10 Years or Less

Duration:Full day
Level: Introductory
Subject Area: Wealth Management
Instructor: David Trahair
 
DESCRIPTION:
Let’s face it, planning and saving for retirement is not easy. We are told that the earlier we start the better, and that the “magic of compounding” will make our dreams come true.
 
But for most people it’s simply not possible. In our twenties through our forties, we are busy paying for our housing, our cars, our kids and all the other costs of living. Out of necessity many of us become procrastinators when it comes to saving for retirement.
 
But there is hope. This course will take you step-by-step through planning and saving for retirement starting later in life, as late as in your fifties, and the best way to fund your retirement years. It is an easy-to-follow plan for retirement that can be done in ten years or less. And don't worry if you are younger, as all the concepts will still be useful to you.
 
TOPICS
Tracking your spending. The key step to retirement planning that most people don’t do. Learn how to do it easily, automatically and for free.
Optimize your retirement savings and drawdown strategy ​. Receive and work with a free easy-to-use Excel spreadsheet called “The Procrastinator’s Number Cruncher” to optimize the use of excess cash (RRSP, TFSA or pay down the mortgage, etc.), and maximize your retirement income. Make the decision about investing in RRSPs versus paying down debt with another free calculator. Y our pre- and post-retirement investment strategy – what products are best now and later? Why is exposure to equities during the drawdown phase so dangerous? 
Retirement funding options.  Your CPP and OAS pensions – what age to start, how they calculate how much you will get. Your home as a source of funds – the risks of reverse mortgages and other better options.
RRIF versus annuity . How RRIFs and annuities work, the advantages and disadvantages of each, a suggested strategy and current annuity rates.
Old age healthcare planning
.  What the government covers and what it does not, the extreme dangers of travel insurance and how to protect yourself.  Long-term care facility options.
Other.  Death, taxes and inheritance  – the basics of how to reduce the final tax and probate fee bills – you will also get a simple spread sheet called the "Estate Planning Record Keeper" to help make the  transfer efficient. Your credit card strategy – how to select travel reward and cash back cards to optimize your benefits. Divorce – the basics from a financial perspective.
 
WHO WILL BENEFIT:
People approaching retirement who are starting late and want to ensure it is comfortable and stress-free, as well as those who are planning ahead.
 
Special Instructions/Notes:
This is a hands-on workshop. Although not mandatory, you are encouraged to bring a laptop to work throughout the program on spreadsheets including the “Procrastinator’s Number Cruncher, “Estate Planning Record Keeper", "RRSP Needed for Mortgage," and the "RRSP vs Pay Down Debt" calculators. All spreadsheets are FREE with the course.

Each attendee will get a FREE copy of David Trahair’s book The Procrastinator’s Guide to Retirement.
 


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