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I’m sure you can come up with a list of things that don’t fit the “set it and forget it” philosophy. Set the cruise control and forget it. Set the room temperature and forget it. Invest in a certain investment that has a particular risk associated with it and forget it. You need to make…
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The myth of never touching your capital starts when people are working and saving for retirement. Some become conscientious savers, never touching their nest egg. That mentality spills over into retirement. Changing habits can be hard. Retirement myth #5: Never touch your capital. Conventional thinking and approaches often work on keeping your assets intact during retirement.…
Read MoreHow much income will you need during retirement? The myths and misunderstandings continue, despite growing evidence and research that debunk them. Retirement myth #4: You need 70-85% of your current income in retirement. Retirement myth #4: You need 70-85% of your current income in retirement. A growing number of analysts and researchers on retirement income…
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A systematic investing plan provides discipline and the potential for better returns. Investors who watch the markets closely can get dizzy tracking all the ups and downs – and, as prices fluctuate, often unpredictably, it can be hard to stay focused on long-term plans. When markets drop, it can be very difficult to fight the…
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Read MoreHow much is enough? Books have been written on the subject of retirement and what you need to save. Myths abound on this question. Here’s one to consider: I need $500K, $1M, $2M to retire. Retirement myth #3: I need $500,000, $1 Million, $2 Million to retire. The fact is that your “number” can vary greatly…
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By Cathie Ericson As retirement gets closer, your budget, priorities and lifestyle habits may change. Here’s how you can adapt to those changes and save money along the way. How do you picture retirement? Is it adventures with the grandkids? Vacations with friends? That sounds idyllic, but it’s not always realistic portrayal of retirement. According…
Read MoreBy Patricia Dubois There are many money myths around, and Sun Life advisors have heard nearly all of them. Here are 2 about succession planning – and the realities behind them. There’s no shortage of misconceptions about money. Well-meaning but mistaken people often spread them to family and friends, and sometimes even try to insist…
Read MoreIt’s surprising, even shocking, that with all of the attention devoted to an aging society and the need to save for retirement, that so few people are inspired to get started; and then save so little. Many do have a doom and gloom attitude about retirement. Myths aren’t helping matters. Retirement myth #2: I’ll never…
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