How to Retire Early (Part 2)

May 5, 2015

Join Julie Cazzin, Senior Editor at MoneySense Magazine and a financial planning expert, as she dives into the intricacies of early retirement strategies. Learn top tips for retirement readiness, including the significance of saving two years' worth of expenses and thoughtful asset allocation. Julie cautions against common mistakes both before and after retirement. She also discusses the benefits of annuities for securing steady income and the transition from saving to enjoying life in retirement. A must-listen for aspiring early retirees!

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Episode notes

Intro

00:00 • 2min

Navigating Spending in Retirement

02:04 • 14min

Financial Strategies for Early Retirement Planning

16:06 • 5min

Integrating Annuities in Retirement Planning

21:15 • 8min

Insights from a Leading Personal Finance Magazine

29:37 • 3min

This is part 2 of the interview on How to Retire Early, with MoneySense Senior Editor Julie Cazzin.

In Part 1 we covered the beginner level questions. In part 2, we take it up a notch and get into the more intermediate and advanced level questions.

If you missed part 1, it's the episode right before this one.

Links and Resources

Top Tools and Resources for Financial Independence (for Canadians): Sign up anywhere on www.BuildWealthCanada.ca for a free guide on all the top tools and sites that I’ve personally used to help us achieve financial independence in our early 30s. They’re also what we use now to optimize and manage our finances, and ensure that we’re paying the lowest fees while getting solid returns on our investments.
Kornel's investing course with free sample lessons at www.BuildWealthCanada.ca/invest
Julie’s Articles on MoneySense

Questions Covered:

What are some top tips you can give to Canadians that want to retire early?

How can we figure out if we have enough to retire early?

What are some top mistakes someone can make if they want to retire early?

What are some top mistakes someone can do if they are already retired? (whether it was early retirement or not)

While saving for an early retirement, would you recommend index investing by purchasing broad market ETFs or funds, or do you recommend a different strategy? (ex. dividend investing)

While saving for an early retirement, would your asset allocation be different compared to someone that is planning on retiring early?

What are some of the unique challenges that we have to worry about if we are planning to retire early vs doing the more traditional retirement at age 65. (i.e. Impact of CPP, OAS, and pensions come to mind).

Once we manage to retire early, what suggestions can you make in terms of asset allocation?

Your thoughts on a safe withdraw rate?

How would you suggest using TFSA, RRSP, and unregistered accounts while saving?

How would you suggest using TFSA, RRSP, and unregistered accounts while retired early?
What are annuities and is it possible to purchase annuities here in Canada if we are a young retiree?