https://padlet.com/alexander_c_mackinnon/zmayida6icdz How to retire the right way, additional ways to earn money. en-us 2019-04-01 21:12:38 UTC 2025-09-22 20:13:04 UTC hello@padlet.com alexander_c_mackinnon https://padlet.com/alexander_c_mackinnon/zmayida6icdz/wish/347398463 These posts will talk about retiring in Canada. How to earn extra income, and how to save for your retirement when you are young to get ahead of the game. Written by Alex MacKinnon.

]]> 2019-04-01 21:19:24 UTC https://padlet.com/alexander_c_mackinnon/zmayida6icdz/wish/347398463 alexander_c_mackinnon https://padlet.com/alexander_c_mackinnon/zmayida6icdz/wish/347399058 In this video they discus that when you are retired you should be spending money from your Canadian Pension Plan. You should be spending this money so that your investments can continue to make interest.

I believe this clip is relevant because it is important to budget and spend your pension instead of breaking into your investments unless necessary. Budgeting your CPP income will mean the extra money you earn on the side can be saved or used towards something else.]]> 2019-04-01 21:22:33 UTC https://padlet.com/alexander_c_mackinnon/zmayida6icdz/wish/347399058 alexander_c_mackinnon https://padlet.com/alexander_c_mackinnon/zmayida6icdz/wish/347402142 In this video they discuss the 'Replacement Rate' which is how much money you need in order to continue to live the lifestyle you are living before retirement. Depending on what kind of lifestyle you live determines how high that rate will be. They also point out in this video that when you are retired you don't necessarily need to spend as much money as you did previous. This is due to you not having to save for retirement in the same way anymore and paying less taxes on an annual basis. In this video they discuss how people who earn more before retirement can cut back more than people who earned less.]]> 2019-04-01 21:39:22 UTC https://padlet.com/alexander_c_mackinnon/zmayida6icdz/wish/347402142 alexander_c_mackinnon https://padlet.com/alexander_c_mackinnon/zmayida6icdz/wish/347403446 In this video they discuss how a lot of young people now a days don't have full time work and don't work jobs for very long. When most people get a new job every 5 years they don't have access to the same retirement benefits that some people get for working at a company for 30 years. Depending on what industry you are in this means you may need to start saving earlier to make up for the lack of retirement income you will be earning. The fact is that company's don't take care of their employee's like they did in previous generations and we have to plan to make up for that fact.]]> 2019-04-01 21:48:28 UTC https://padlet.com/alexander_c_mackinnon/zmayida6icdz/wish/347403446 alexander_c_mackinnon https://padlet.com/alexander_c_mackinnon/zmayida6icdz/wish/347404289 In this video they discuss how the average Canadian needs $756,000 in order to retire comfortably. This shows a need to start saving earlier and putting aside a certain amount of money every month depending on your income is necessary to have that amount of money by the time it becomes time to retire. If you can lower your cost of living while keeping your comfort in your retirement then you can live for under the average amount. Budgeting and not living beyond your means is a good way of making sure you have enough money saved for your retirement.

]]> 2019-04-01 21:54:30 UTC https://padlet.com/alexander_c_mackinnon/zmayida6icdz/wish/347404289 alexander_c_mackinnon https://padlet.com/alexander_c_mackinnon/zmayida6icdz/wish/347406153 This image shows that only 50% of Canadians will be able to maintain the same desired standards of living after retirement. It also shows that 35% currently don't feel financially secure.]]> 2019-04-01 22:07:41 UTC https://padlet.com/alexander_c_mackinnon/zmayida6icdz/wish/347406153 alexander_c_mackinnon https://padlet.com/alexander_c_mackinnon/zmayida6icdz/wish/347406825 This image shows that 31.9% of people say that they agree that have not saved enough for retirement and that 28.4% strongly agree they have not saved enough for retirement. This shows a need to start saving earlier in life and to take retirement more seriously.]]> 2019-04-01 22:12:29 UTC https://padlet.com/alexander_c_mackinnon/zmayida6icdz/wish/347406825 alexander_c_mackinnon https://padlet.com/alexander_c_mackinnon/zmayida6icdz/wish/347408117 In this article they give advice on how to save for retirement even if your income is small. Some of the advice includes things like setting a budgeting, cutting back on expenses, and setting automatic payments to add money to your retirement savings every month. I think that the advice given in this article is valid and although it can be very difficult to save money when you can barley pay your day to day bills you have to put forth an effort to save money here and there in order to have money to put aside for the future.]]> 2019-04-01 22:20:48 UTC https://padlet.com/alexander_c_mackinnon/zmayida6icdz/wish/347408117 alexander_c_mackinnon https://padlet.com/alexander_c_mackinnon/zmayida6icdz/wish/347410304 This article is written by the Canadian Government and discusses ways of saving for retirement like starting to save early, balancing your current financial priorities, and considering inflation. I think it is important to note that if you start saving now, by the time that you are old enough to retire the inflation rate could be so high that you may need more money than you once had calculated years previously. With inflation being a factor in life, you have to save more than you expected to ensure that you will have enough money to live comfortably in your retirement.]]> 2019-04-01 22:35:24 UTC https://padlet.com/alexander_c_mackinnon/zmayida6icdz/wish/347410304 alexander_c_mackinnon https://padlet.com/alexander_c_mackinnon/zmayida6icdz/wish/347411752 This article is written by the Canadian Government, and discusses different sources of income for people who are retired. It is important to make sure you apply for all of the different types of retirement income available to you based on how long you worked and how much you earned. If you use the money you get from your government programs for everyday expenses then you can minimize the amount of money you need to take out of your saving in order to live comfortably in your retirement. This article also discusses how RRSP's and TFSA's can make saving for your retirement easier.]]> 2019-04-01 22:44:46 UTC https://padlet.com/alexander_c_mackinnon/zmayida6icdz/wish/347411752 alexander_c_mackinnon https://padlet.com/alexander_c_mackinnon/zmayida6icdz/wish/347414348 This article discusses when you know it is time to retire, one of the points they discuss is to talk to other people who have recently retired about what it's like financially for them and to try to ballpark how comfortable you would be if you retired.Take advice from other retired people and learn from their financial mistakes. It also discusses considering downsizing and lowering daily expenses in order to live a cheaper lifestyle and save more money for retirement while also requiring less money per month to live. I think that this article gives good ideas as to when it is the right time to consider retiring.]]> 2019-04-01 23:02:04 UTC https://padlet.com/alexander_c_mackinnon/zmayida6icdz/wish/347414348