The average Canadian life span is steadily increasing and is currently in the mid-80s for both men and women. Plan to keep working as long as you can to build a portfolio that will support you well into your 90s. Start saving early even if it is a small amount of money today. It's the little drops of water that make the mighty ocean!
We all know that we should put money away for our retirement. The message has hit home and fortunately many of us are putting away at least 10 per cent -- if not more -- of our net income for our senior years. While this is undoubtedly a good thing, there still exists some confusion about these savings vehicles.
The younger generation does not have the same kind of job security and employers are hiring more people on contract. Some people will choose to start their own businesses instead of being employees. Workplace pension plans are almost extinct. Now it would seem that saving for your retirement is up to you.
Are you on life's last lap and have yet to make a real difference? That's the angst of some boomers who came of age believing they would change the world, but then life got in the way. Now retiring from the jobs that derailed them from their dreams, they're hoping it's not too late to leave a legacy.
There are a ton of regulations involved in reverse mortgages, but they are still becoming more and more popular because frankly they can be beneficial. Like any mortgage or loan it is all situational. For some people a reverse mortgage is a great idea and maybe even their best option, but for others it is just a way to incur more debt.
My overall idea is that by owning the dividend paying stocks outright you have the potential to make even more money and you know I love to do that. Creating a portfolio that is diversiﬁed and paying solid dividends will ensure a retirement asset to fulfill your goals and aspirations. Start paying more attention to your money and it'll pay you back with dividends.