How to Retire in 10 Years or Less

Overview:

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, that’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.

It all starts with the most important step you can take to improve your personal finances which is to start tracking your family’s spending. You’ll see how to do just that using a free online resource called Mint.com.

You will also see demonstrations of spreadsheets including “The Procrastinator’s Number Cruncher” to optimize your investment accumulation and drawdown strategies, the “Estate Planning Record Keeper” to make estate planning simpler, the “RRSP Needed for Mortgage Calculator,” and the “RRSP vs Pay Down Debt” calculators. All spreadsheets are free with this course.

Course Content:

In this course, you will gain knowledge about the following topics:

• Implement the most important step for personal finances: tracking your spending
• Decide what is the best option: RRSPs, TFSAs, pay down debt, or use a regular investment account using another FREE spreadsheet
• Appreciate all the different retirement funding sources including RRIFs, annuities, CPP, and OAS
• Know all the advantages and disadvantages of RRIFs versus annuities
• Understand how to make use of the tax opportunities available during retirement
• Be cognizant of the risks of old age healthcare costs including what the government covers and what they don’t

Learning Objectives:

Upon completing this course, you should be able to:

• Learn and understand the most important steps for personal finances starting with tracking your spending
• Learn how to optimize your retirement accumulation and drawdown strategy
• Awareness of risks during retirement
• Awareness of possible tax opportunities during retirement and tax implications upon death

Who Will Benefit: 

People approaching retirement who are starting late and want to ensure it is comfortable, as well as those who are planning ahead.