Retirement

As I am aware of a good number of my readers ages, and most are at least at 30 or above I thought I might ask some questions about retirement plans. Recently at dinner with friends I was shocked to find many of them had not begun this journey of saving for retirement. Is everyone turning a blind eye to this simply hoping it will work out?

FINANCIAL ... So I know my portfolio is a fairly aggressive one with a selections of Stocks, Bonds, RRSP's, Pension Funds and of course my various Real Estate dealings, but how does everyone else balance this out? Take for example your pension funds ... how do they spread (Balanced Funds, Canadian Equity funds, Fixed Income funds, Foreign Equity Funds). I am always interested in knowing how people are putting their hard earned wages to use .. especially around the world. I find that as I talk to people across the globe, there are vast and differing approaches on HOW to save for retirement.


WHAT TO DO ... this is actually one of the more important parts I found in planning my retirement and obviously more fun as well. The first section about finance is important, but can not be effectively done if you do not know the 5 W's of your retirement. What type of life do you want to leed, where do you want to live, what kind of activities do you want to do daily. All of these factors will lend to a dollar figure that you will need to plan and budget for in the finance section above.

So for those of you who have planned for retirement, what is your magic number? What age are you planning to turn in your work close for island cabana wear? I know mine is planned for 50 as I wanted to be young enough to start my ski/mountain bike B&B in British Columbia. What are your dreams, hopes and ambitions?