For years, financial advisors have relied on a simple rule of thumb to guide people planning for retirement: withdraw 4 percent a year, and you have excellent odds of having enough money for 30 golden years.
A stark pickup in government spending, particularly in defense, has helped fuel a broad acceleration in U.S. economic growth in the past year and a half, according to a Wall Street Journal analysis of Commerce Department data.
Canadians are confused — and rightfully so. Anybody licensed to sell any financial product or offer any form of advice that’s related to finances is a “financial advisor.”
On the off chance that you require cash, obtaining from your RRSP isn’t the appropriate response. In the event that somebody proposes for you do that, it is essential that you put forth some critical inquiries.
Do you want to name a beneficiary (e.g., spouse), or leave the money to your estate or to a trust? If the money is left to your estate, it will be subject to probate fees when the estate is settled. If you choose a trust, be sure to seek tax advice.