how can I save for retirement?.?
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.
Public Comments
- Do you have Roth IRA's in canada?
- one penny at a time
- 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.
- steal like our Gov does( from the working class as in taxes and welfare ) and you'll be ok
- 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.
- 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.
- well the best way to make lots of money is real estate investments...
