Tag Archives: Financial Independence

Abundant Retirement Summit starts Feb. 15th

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kay-bannerAs mentioned in this post a week ago, Mike Drak and I will be participating in a 10-day virtual event called The Abundant Retirement Summit, which features interviews with more than 20 retirement experts between Feb. 15th and Feb. 26th.

This event was designed by our colleague and passionate business guru Kay Young (pictured above) with you in mind! She has gathered some of the world’s leading experts in expanding your money along with experts in finding joy & freedom through life transitions for this ground-breaking summit.

To get a front-row free pass, just register here.  In addition, all the experts will be giving you a free gift  designed to help you find joy and freedom while doing the things you are most passionate about.

Among other things, we’ll talk about:
• How to manage your money with ways to build, save and expand your assets
• How to enjoy life’s transitions by finding out & doing what you really love
• Which industries allow you to make money while being creative…on your own time
• Fabulous ways to improve your joy and productivity…even while you sleep
• Stories with amazing people who have had life experiences that touch & teach us all

Kay is going to deliver every one of the expert’s interviews to your inbox. If you miss one, you’ll have 72 hours to catch up on the interviews you’ve missed. Hop on over to the registration page by clicking on this link.  We’re excited that you’ll be joining us on the summit! Continue Reading…

Defer CPP and OAS if retiring in 2016

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Adrian
Adrian Mastracci

By Adrian Mastracci, KCM Wealth 

Special to the Financial Independence Hub

Some important homework is in store for those retiring during 2016. Age 65 was the normal age to begin receiving CPP/OAS pensions.

A few timelines have changed recently. The changes are about deferring CPP/OAS pension benefits to age 70.

Your finances will need review vis-a-vis the personal circumstances. Here’s my summary of pension deferrals (figures rounded):

CPP benefits

2016 maximum CPP pension is about $1,092/mo at age 65.
Starting CPP pension after age 65 increases benefits by 0.7%/month of deferral, up to age 70.

Individuals who start CPP at age 70 receive a maximum 42% more, versus starting it at 65.
Hence, delaying CPP from age 65 to 70 raises pension benefits near $1,550/month.

Electing to receive CPP before age 65 reduces the pension by 36% at age 60.
Those employed after age 65 can make voluntary CPP contributions up to age 70.

Requesting your “CPP Statement of Contributions” provides the personal estimates.

OAS benefits

Continue Reading…

The Abundant Retirement Summit and Victory Lap Retirement

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Depositphotos_71592703_s-2015As readers may know, Hub blogger Michael Drak and I have just finished co-authoring a book about life after Financial Independence. It’s titled Victory Lap Retirement, and describes a new post-corporate lifestyle that combines work and play, much like the illustration to the left.

The book has just gone through its second editing pass. Next we’ll be sending out pre-release PDFs to media and influencers, looking for testimonials: if you’re interested please let me know at jonathan@findependencehub.com or Michael at michael.drak@yahoo.ca.

The finished product should be in book stores and available online by mid-summer.

Half-hour interview will be at Abundant Retirement telesummit

kay-banner Continue Reading…

2016 RRSP tips – ‘Back to basics’ primer

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Adrian
Adrian Mastracci, KCM Wealth

By Adrian Mastracci, KCM Wealth

Special to the Financial Independence Hub

Understanding the RRSP regime makes it easier to stickhandle your retirement marathon. This workhorse has been delivering on retirements since its introduction in 1957.

It really fits two groups of investors like a glove.
Those without employer pension plans and the self-employed.

Some investors still shun RRSP deposits but three solid reasons to pursue RRSP accumulations stand out for me:

• Long-term, tax deferred investment growth.
• Future withdrawals, ideally at lower tax rates.
• Contributions provide immediate tax savings.

Stay focused on how the RRSP dovetails into your total game plan.
The power of compounding really delivers.

Your RRSP mission is three-fold:

• Keep it simple.
• Treat it as a building block.
• The journey lasts a lifetime.

I summarize six vital “back to basics” RRSP areas for your review:

1.)  Setting saving targets Continue Reading…

Is it Work or is it Passion?

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Work or Passion 2
Billy and Akaisha Kaderli

By Billy and Akaisha Kaderli

Special to the Financial Independence Hub

While taking a break from the sun and surf, relaxing in my hotel room in a tiny beach town on Mexico’s rugged Pacific Coast, my cell phone rang.

“Howdy, Beautiful!” my friend of four decades shouted from snow country, thousands of miles away. “Been watchin’ your website for years and I read all your stories. Love ‘em. But I thought you were retired!”

How many times over the twenty-plus years since we left the conventional work force have we heard that challenge? Our responses have ranged from surprised silence to justification of our volunteer work, to just laughing out loud.

We run a popular website, photograph our travels and share our lifestyle adventures with people like you. Some think that by doing this, we have somehow become unfit to call ourselves “retired.”

Once findependent, you’re free to choose how to spend your time

Today I would like to pose this question to you: “Once you leave the mainstream labor-for-paycheck world and become financially independent, aren’t you free to choose what you do with your time? When is something considered work, and when are you pursuing a passion?” Continue Reading…