Build Wealth Canada Podcast: How Much Do You Need to Retire?

I was recently interviewed on the Build Wealth Canada Show to discuss how to pull off early retirement, what to look out for, and some of the most common mistakes that Canadians make when trying to plan this out.

You can download the podcast episode for free over at www.buildwealthcanada.ca or listen using your favourite podcast app (Build Wealth Canada Podcast).

The show’s host (a fellow Wilfrid Laurier University graduate), Kornel Szrejber and I discussed where you should keep your money when saving for a house, wedding, car, etc., and what to consider when deciding whether you should use the RRSP, TFSA, or a non-registered account. Then we got right into the meat of the conversation around retirement and early retirement, including:

• What to consider if you’re planning to retire or semi-retire early,
• How to determine if you’ve saved enough to retire early,
• What changes you should make to your portfolio once you retire to ensure sustainability of income, rather than achieving maximum asset growth,
• What cash cushion is recommended for those in retirement and semi-retirement,
• How real return bonds fit into the puzzle and,
• How to decide what accounts to take money from in retirement.

If you’re interested in the topics above, you can also read our white paper, The Design and Depletion of Retirement Portfolios that outline many of the concepts I discussed in the interview.

If you have any questions on comments, please leave them in the comments section below. Are you looking to retire early?