I have been on a brief french leave digesting the potential implications of Trump presidency on REI. I will spend sometime on this in my subseqent posts but for now, enjoy this little piece from my friend Edna.
You’re not alone!
26% of Saskatchewan and Manitoba residents say they are confused about investment and retirement options.
Nearly two in five Canadians (39 per cent) feel they will have to cut back on their current lifestyle sometime over the next 10 years, while about seven out of 10 have no retirement plan, according to a new study by Mackenzie Investments, as reported by Regina’s LeaderPost.
Do you have a financial plan in place to ensure that you won’t have to cut back on your current lifestyle when you retire? Are you prepared to give up the things you love because you haven’t made a solid plan to replace your current income?
So many middle-aged Canadians are unsure about what to do with their money and haven’t even thought about retirement – and we get it! It’s tough! You likely just got the kids out of the house and off to university. Maybe you are finally feeling free and enjoying that excess, disposable income. Maybe you are finally treating yourself to exotic trips, a new vehicle, a little extra shopping and maybe those hot new shoes you could just never justify before.
We don’t want you to stop being able to do that – exactly the opposite! We want to encourage you to have a plan in place so that you continue to do and buy the things that you love, far into your retirement. The plan I always recommend involves real estate.
Why do I recommend this? Because there are so many ways to invest in real estate that won’t interfere with your monthly income or nest egg.
Did you know that you can invest in real estate by using your credit only – no cash?
How would you like to be an investor, earning a monthly cash flow and passive income – without actually putting out the cash?
Sounds great right?
Well it is – and that’s exactly one of the investment types that I am very active in.
According to Mackenzie Investments, One in three residents in Manitoba and Saskatchewan believe they will not be able to afford the same lifestyle in 10 years — a drop from a decade ago, when 37 per cent answered the same. Like other Canadians, Manitobans and Saskatchewanians lack confidence in their investment options, the survey said.
The last thing you want is to find out at retirement age that you have to cut back your lifestyle, cancel your dream plans and live on a modest pension.
“People who worry about their financial future but don’t have a plan are like people who worry about getting lost but don’t use a map. Both a plan and a map are easily available, both reduce a lot of stress, and both typically help you reach your desired destination,” added Bezaire.
I hope this was helpful, and look forward to connecting with you.