I am in Canada, and I have some savings.
I own a home, but work for myself.
My spouse works as well.
We want to travel now and not wait until retirement.,while our health is good.
Retirement is a scary thought as income decreases.
I would like help to figure this out so we can live without fear.
2006-10-17 09:02:01 · 6 answers · asked by Joanne C 1 in Business & Finance ➔ Personal Finance
You can choose to fund a fixed annuity which will give you guaranteed income until you die. As some one who is self-employed you can contribute up to $12500 into a SEP or SIMPLE retirement plan. A traditional or Roth IRA will only allow you to contribute up to $4000. Talk to your local Financial Services rep. They should be able to give you some sound advice.
2006-10-17 09:09:40 · answer #1 · answered by Jake 2 · 0⤊ 0⤋
i assumed i replaced into saving sufficient yet as i examine out my portfolio according to annum i'm particular it is not sufficient. The final 2 years i've got taken a 30% hit on 2 bills. My PERF account is the sole one that hasn't taken a huge hit. Hubby lost his activity whilst the employer outsourced to Mexico and different international places. We went for an rather long term with in basic terms my meager paycheck. We went by using all of our discounts and what we'd controlled to save for our women education just to stay in our abode. at present issues are slightly greater constructive yet no longer plenty. luckily we in no way lived the severe life whilst he did paintings so we are grateful for what we've. I truly have a great Rep for my Annuity fund. p.c. one properly because it may fee you dearly whilst they're in basic terms there for his or her fee and not your superb interest.
2016-12-26 21:44:08 · answer #2 · answered by ? 3 · 0⤊ 0⤋
As a matter of principle you really should save at least 10% of your income, until you retire. If your savings and house already provide enough capital to earn an income you can save less.
2006-10-17 09:12:23 · answer #3 · answered by Cheanea 3 · 0⤊ 0⤋
You may want to consider an annuity if you are concerned about living without fear because annuities pay out set amounts each month. Just a thought.
2006-10-17 09:11:55 · answer #4 · answered by Clark 3 · 0⤊ 0⤋
steal like our Gov does( from the working class as in taxes and welfare ) and you'll be ok
2006-10-17 09:10:51 · answer #5 · answered by Ladder Captain-29 5 · 0⤊ 0⤋
Do you have Roth IRA's in canada?
2006-10-17 09:03:40 · answer #6 · answered by phillytocalifornia 3 · 0⤊ 0⤋
well the best way to make lots of money is real estate investments...
2006-10-17 11:31:26 · answer #7 · answered by letloret 1 · 0⤊ 0⤋
one penny at a time
2006-10-17 09:03:52 · answer #8 · answered by K-Tech 2 · 0⤊ 0⤋