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3 Easy Ways to Know How Much You Need To Retire in Canada

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Not with the way everyone is gouging people It’ll be no-go with most of us
Comment from : @Badkharma21

I'm 48gonna have a teacher's pension, govt pension, 1 property Is it too late to invest in the S&P 500? I just started that Gonna maybe get one more property
Comment from : @horacesilver5238

Sun Life's life expectancy calculator is gone, unfortunately Other calculators for me, a Canadian Male, vary from 83 to 87 years so I guess that's about right
Comment from : @Theta2Omega

Sorry…did you make a video speaking about the diversification of your investment portfolio?
Comment from : @jacquelinetouchie9218

Your content is gold
Comment from : @DCP33

Excellent video Reese! I have been addicted to spreadsheets for quite some time now So I am firmly in the manual camp After 15 years with the same spreadsheet, it is four layers deep and about 25 different permutations for my retirement brbrWith my defined benefit pension plan at work and savings I was able to semi-retire at 52, my children’s education has been paid for, and I have no debt brbrBut, it was a time-consuming labor of love Not everybody has that! Your tools look really, really good and I wish I had access to them (or your services) when I was in my 20s and 30s!brbrKeep up the great work!
Comment from : @buzzcox552

👍🏼
Comment from : @MaryLuz111

what software are you using?
Comment from : @hannah-t3j

👍how can i contact you?
Comment from : @prabakailash7216

Could you please teach me how to apply CPP if I am a self employed
Comment from : @aileenwandongyang8229

What do these calculations look like when MANAGEMENT FEES are add?
Comment from : @lindsayharris5954

I used the CRA tool and I find it better than a lot of the other online calculators It covers all sources of income and a lot of the private calculators are bit biased toward there own investment products
Comment from : @629990

You need more income when you retire brYou travel morebrYou have more time to spend brYou may need increased medical expenses brMore interest
Comment from : @howardlaamm3517

I agree with you Desjardins is a simple good calculator It only uses Quebec and Ontario because the Caisse Populaire Desjardins is only in Ontario and Ontario
Comment from : @alexanderalexander7404

What about the value of the house you talked at the end?brWhen no kids: one would want to use that value instead of wasting it 🤔
Comment from : @philjans1

How do I get in contact with you for retirement planning
Comment from : @rogerackerman739

Vendmax candy dispenser in the background From a now defunct factory in Winnipeg 😅
Comment from : @taylordnd

If no have nothin 0 1:12 dollars what happen
Comment from : @sandraerazo9613

What is your software’s name?😅
Comment from : @mudasirsarrang9041

It seems to me you are basing life expectancy from birth, not from your current age If you’re a healthy Canadian male who is already 65, you have a life expectancy closer to 86-87 Most planners I have seen build retirement plans to age 95 to be safe with advances in medicine in mind
Comment from : @robertross8565

Wow This is crazy I don’t know how much I make and do not know how much I spend This is crazy !! How will I ever be able to do my calculations
Comment from : @harism2001

Do you include a return on your $900,000 in your income?
Comment from : @everreadyutube

Clearly explainedSubscribedThank you for the advice
Comment from : @CorneliuBacauanu

Plans are great executing the plans is difficult I have to wonder how accurate the plans end up being over a 30 year period Perhaps financial planners should be paid only after the plan comes to fruition and realized? :-) paid after each accurate year of prediction 😅
Comment from : @jordanharkness

This guy is cute! I could use some advising ☺😏
Comment from : @md28stads

Lies and propaganda We all know the next three generations are never going to have the privilege of retirement We have trillions in useless liberal debt to pay off and the current retired generation has 70 of all the money and those same liberals are just giving them more cheques as we speak Another great waste of all our retirement
Comment from : @Just-wondering301

Please love not war War destroys pensions
Comment from : @DareDim

What a bunch of BS Plan to live to 110 years old, period And don't plan for 70 less income per year in retirement, who wants to plan to make less money later in life??? AND, one should plan for 4 growth of income moving forward through retirement for inflation without implementing the 4 rule And jeezus, hopefully Canadians are making more than $36,000 per year when they retire What world are you living in?
Comment from : @user-uz9bu7ti3d

What about if you throw bitcoin into the mix ? No one who has held bitcoin for the 4 year cycle has ever lost any money In fact if you price property in bitcoin everything gets cheaper every four years How ? because bitcoin unlike the pound is fixed in its supply and the purchasing power gets stronger every four years For example a house you want to buy today will be cheaper in four years in bitcoin terms This is why all the leading asset managers are buying and holding bitcoin Even business are adopting bitcoin to gain competitive advantage Why and How ? Lets say cashback for example If you were to offer a customer 5 cashback and give it to them in bitcoin instead of pounds the cashback to them would increaes in value in four years Hence the 5 pounds given to them in bitcoin would probably be worth 15 to twenty pound in four years Am I selling bitcoin ? No I just teach other entrepreneures how it works No spamming or emails Just some food for thought You can subscribe to my channel if you wish to learn about bitcoin, Thats it Tony
Comment from : @bitcoinenergy1

Can you do a scenario A couple drawing on CPP OAS and GIS already at 60 years old because of losing jobs needing cash flow and were not big income earners Now retired No other pensions Some Rrsps, tsfa, non reg, brNo other debts Own home Best tax withdrawals strategies
Comment from : @nickyenkelaar8178

Great video If you apply the 4 rule, why would you be left with almost zero principal if the theory that the market will generate at least 4 in yearly returns?
Comment from : @scottdillon1

Who in their right mind wants to retire in Canada?
Comment from : @JayandLisa

On retirement would we not need more money? Medical expense and money to travel
Comment from : @Magictrunk

How do we make an appointment with you I am 59 years old, a professional with a decent salary
Comment from : @oscarc3114

What is the software? From Conquest?
Comment from : @gpage5469

Just found you but I’ve subscribed to binge watch the content Great episode
Comment from : @brentmacdoanld3196

I really enjoy your videos I would like to clarify and this may seem a silly question, but: I know that RSP withdrawals are taxable at my marginal rate However, I never have to pay CPP or EI contributions on RSP withdrawals, right? I'm asking because I am using the CRA payroll calculator to identify taxes for different income levels So I have been marking the income CPP and EI exempt
Comment from : @ljk509

Brilliant video Reece! Great information and demonstration of some powerful software! Thank you!
Comment from : @dawnmitzner5222

There is NO WAY the future generations will live as long as us Look at the shit we eat every day, ALL our food is contaminated, and all process garbage we eat
Comment from : @markwolovetz

We retired early and left Canada to travel the world full time Why retire in Canada with miserable weather and high costs when you can live in warm countries all year round and have your dollar buy you 2-4 times as much
Comment from : @JayandSarah

Is there a maximum that a married couple gets from CPP or OAS ?
Comment from : @carolynbridge2087

IN CANADA?brbrGOOD FKN LUCK
Comment from : @mikk1332

Heisenberg does financial planning?
Comment from : @mumumumah

Finally a Canadian ❤
Comment from : @cathybarker7125

Most beneficial job was being a market risk manager specialising in stress testing The same "professional" tool was built in excel with some historical data from Yahoo finance Lol
Comment from : @apoch2001

Very well done thank you, you made this an easy explanation to my wife, just watch the you video!!
Comment from : @yychummer

25x rule, 4 rule, 300x rule are the same equation expressed differently, all works I plan to spend 10K a month after retirement, I need 3M portfolio, and the money will have 97 of chance of never run out in 30 years
Comment from : @allannirvana

CONQUEST NEED TO ALLOW EVERYONE TO PAY AND SUBSCRIBE TO THEIR SOFTWARE!!! brbrIT’S NOT ROCKET SCIENCE TO PLAN WITH THE SOFTWARE IT’S CRAZY TO PAY 1-2 TO RETIREMENT ADVISORS IMHObrbr1M AUM - fees 10K-20K per YEARbr15M AUM - fees 15K-30K per YEARbr… you got the idea No funding advisors of THEIR retirements
Comment from : @josephkeith6954

Does the software adequately deal with rental income/properties on a retirement plan?
Comment from : @totorovictoria2170

Desjardins only has branches in Quebec and Ontario, and assumes only their customers will be using the tool, so that's why only those two provinces appear Despite what you may think, it's not an FU to the rest of Canada, lol!
Comment from : @gbelanger8302

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money I started investing with $150k and in the first 2 months, my portfolio was reading $274,800 Crazy right!, I decided to reinvest my profit and get more interesting For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family
Comment from : @TerriVess

great overview of different options available well done
Comment from : @BRASS8888

how do I find someone local uses the same software you do?
Comment from : @jwsmith519

I am planning for my retirement, how can I have your service? And what's the fee? Thanks
Comment from : @河-s8l

Do you have a whatsapp number? I'm in SE Asia for the winter but maybe we can do something on vc?
Comment from : @williamcollins7602

< I totally agree with what you are sayingThe fact is, BTC Is the future of crypto and the questions traders ask themselves now if this Is right time to invest? before jumping into conclusion i think you should take a look at things first for the past few days the price of BTC has been fluctuating which means the market is currently unstable and you cant tell if it is going bearish or bullish while others still continue to trade without the fear of making lose, others are being patient It all depends on the pattern you trade with and also the source of your signals I would say trading has been going smoothly for me, i started with 05 BTC and i have accumulated over 87 BTC in just 8 weeks, with the trading strategy given to me by expert trader sellers cath sue
Comment from : @MarylnMuro

Very clear info I appreciate your channel Thank you
Comment from : @ll_distribution

Can u give an example of low income people with 40,000 annual net income with a mortgage balance of $100,000
Comment from : @ladyexoticawanderguard712

Flora Moira want to retire at 60 She needs help
Comment from : @fabianmccarty1903

Tasha Masha will need some financial help,
Comment from : @fabianmccarty1903

Oh crap I'm going to have to work until I'm dead
Comment from : @LeahWriter

Great video, your channel is full of awesome videos with great advice I'm surprised it too me this long to find your content, I frequent many other Canadian financial planning youtubers, Parallel Wealth, Common Sense Investing, The Plain Bagel and many more Very glad to have found your content, you have a new subscriber
Comment from : @barettmac

ALL of these retirement calculators leave out people with a disability, I have to plan my retirement with my RDSP and all its regulations and rules and I'm lumped into I will be low income as if I am doomed to stay in poverty forever So I'm left to figure out on my own
Comment from : @MinnieOnCam

21:55: “Gorgeous Safety Buffer” 😂 you’re speaking my language
Comment from : @josephuhlman3150

Great channel
Comment from : @daveb2702

The best time to retire is while you are still in good health Too many people kill themselves just for those few extra more years and it gets harder on the body and mind when we get older Money is secondary to health I f#cked off at 58 and I am the most happy man in the world My job is to do nothing but manage my finances and travel in winter because Canada sucks during Winter when you reached that age
Comment from : @marcoprolo1488

I am 55, and most of my friends are retired Problem is I still have a mortgage balance on my home We own 75 of the equity but remaining balance is too much to payoff in next 6-7 years Most assessments and calculators assume that you have a paid off home by time you get to this age I am puzzled what to dosell now or a way to stay and retire somehow Reverse mortgages sound good but are pricy especially now
Comment from : @rubberroast1598

All the calculators can do is to crunch some numbers using assumptions The problem is these assumptions may or may not be correct For example, if inflation was 10 over the next 20 years, stock returns were 0 and the Canadian government went bankrupt (all unlikely but very possible scenarios), all the numbers are out of the window Therefore, what you want from your advisor is to remove variables and provide real time advises
Comment from : @wgemini4422

The government of Canada just published it's annual life expectancy tables, and it's actually going down in 8 out of 10 provinces It's as much as 1 year less in some cases I haven't had a chance to dive into it, but some plausible explanations include more medically assisted suicides, the ongoing drug epidemics, more chemicals in our food, more people living in urban settings and even the long-term impacts of the COVID lockdowns
Comment from : @Martyupnorth

if Trudeau keeps raising the carbon tax and other taxes, never
Comment from : @dhg1839

What kind of planning are you strategizing for, when the Quadrillion in derivatives go to zero? Thanks
Comment from : @islandaerial3414

$2M is barely enough
Comment from : @JamesBond-su7hj

so ill never be able to afford to retire lol
Comment from : @grantbaechler3529

I disagree with 30 less I gross 125k and interest income brings another 30[k I save 1200 a week currently plus the 30k In retirement I would not be saving So out of 125k ,I save 65k which is 60 k I live on -30 is 45k is what I would need to keep same life style No debt and house cars yacht paid for 1000 a month pays all bills
Comment from : @Mechone11

My retirement vehicles are my defined benefit pension And that's it Fingers crossed that I can survive
Comment from : @jeffsavage7135

Love this channel Really helps lower stress now that I have a clearer idea of what my goals are
Comment from : @kreuk547

What's the name of your software?
Comment from : @renzenker2526

I love how these financial plans ignore inflation 😮 and presumes that if I want to live off $5000 per month in today's dollars, that when I'm 70 I won't have to withdrawal much more to get the same purchasing power
Comment from : @readingreddit8499

You wanna retire, no bills including mortgage, no car payments and $0 balances on credit cards
Comment from : @aldeserrano5490

Just stumbled across your channel and binge watching it now Great stuff!! Just curious to know what software your firm uses to do the planning? And do we, as customers, have access to that software to see our financial portfolio online and play around?
Comment from : @nadmak9093

Minus your spending from your income That’s it
Comment from : @relaxgood5214

I am in my late 50s and work in telecommunications In the last few years I have seen most of my coworkers get laid off in their late 50s It is a terrible age to lose your job when your industry is downsizing and your skills don't translate I commented because I think we should be aware that we sometimes have to retire earlier than we want
Comment from : @NeverCryWolf64

How flexible is your retirement software I had looked into using a financial planner and their software but it only allowed for a maximum of 10 on invested assets My consistent return is well north of this and I would want to know your software can use any input For example, can we say a 14 return?
Comment from : @rodneedham2306

Good video, but I disagree with the CRA calculator being good, it is useless at estimating CPP payments, best to hire someone to get a good estimate Is the software you use available to the public?
Comment from : @grantschoenberger2588

Looks like an advertisement for Desjardins
Comment from : @ThomHinks

I loved the CRA tool It provided some ideas but I hired a professional financial advisor recently 😊
Comment from : @johnnyboyvan

Something you should include is if you leave the country, like I did Make sure you applied for your pensions (CPP/OAS) are completed Otherwise like myself, they drag their feet and you get your OAS 4 years late When you are in another country, they can only pressure OAS once every 6 months, the government never replies and do not care about your pension Also, your TFSA will attempt to say you are not entitled to them when you leave I left in 2016 says CRA, but TFSA says I had to no right to them in 2013! It is now 7 years of delay for an investigation to be done and still no response Get your ducks lined up
Comment from : @KENFORD-lr8cp

Just curious Are you able to live outside of Canada and still be able to collect OAS? What is the rule in re: to that if any? Thanks
Comment from : @mspeters1

That tool is like a crystal ball wow ! br900G ! Uh oh brI don’t have near that , just retired brBut brI recently bought a sailboat and spend my time in Grenada brWho knows how long but we never know so live life brIt’s not a super yacht but it’s a Beauty , 38’brI’m learning a lot too brHow to repair a boat lol brIn 90* and 90 humidity 😂
Comment from : @jacobuszwanenburg1629