Best retirement tips ever

Here are our essential retirement tips, plus one from a loyal reader

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2 comments on “Best retirement tips ever

  1. Yes, I agree that if you wait until 65 or even 70 you will get a larger cheque from CPP, if you are still alive to collect it. It will take until roughly 80 until you come out ahead by taking your CPP at age 70. Me, I want any money from the government in my pockets as soon as possible, because they might just change their minds after spending it foolishly on something else and take it away at any time. I am looking forward to my first cheque at the end of January 2015.

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  2. Because I am targeting to retire in my early to mid 50’s, I will likely have too many $0 income years to delay collecting CPP. I’ve read the numbers would work out better if I start collecting CPP at age 60.

    As to worrying about inflation, it scares the heck out of me. Although it may mean I work a few years longer to build up a bigger nest egg, my plan is to build up one core dividend portfolio big enough to generate most/all of my yearly spending needs and a second portfolio to provide a buffer for unexpected events such as high inflation, dividend cuts, health issues, and so on. At worst, the second portfolio becomes a slush fund for trips and frivolous purchases and prevent a need to buy an annuity.

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