It's Personal Finance Canada Reviewing Suze Orman’s Retirement Guide
24 snips
Jul 7, 2025 This discussion highlights key insights from Suze Orman's retirement guide, revealing the hosts' newfound enthusiasm for its advice. They tackle the complexities of timing retirement, the importance of being debt-free, and the impact of inflation on financial planning. The conversation also covers strategies for safe withdrawal rates to ensure longevity of savings and the necessity of choosing the right financial advisors. Overall, it’s a deep dive into making informed decisions for a fulfilling and secure retirement.
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Retire Later for Financial Strength
- Retiring at age 70 is financially wise because it allows longer saving and compounding of investments.
- Working longer also shortens the retirement funding period, improving financial stability.
Defer Government Benefits to Boost Income
- Deferring CPP and Old Age Security until age 70 can increase monthly payouts by 36% to 42%.
- This deferral can significantly boost lifetime retirement income, despite initial delay.
Plan Retirement Funds to Age 100
- Plan your retirement funds to last until age 95 or even 100 to be conservative.
- This helps ensure you won't outlive your savings even with longer-than-expected lifespans.
