52 Ways to Wreck Your Retirement: ...And How to Rescue It

"Di Vito′s first foray as an author is a must–read. What we do today determines our tomorrow. This book is a step–by–step plan for what could be the best years of your life—retirement!"
—The Honourable Pamela D. Wallin, o.c., som.
As a result of global uncertainty and volatility, financial matters have become increasingly complex, but Tina′s book will give you the confidence to make better financial decisions and is a superb resource for any Canadian looking to understand how to better prepare for retirement."
—L. Jacques Ménard, o.c., o.q., lld, Vice–Chair of the Task Force on Financial Literacy, Chairman BMO Nesbitt Burns, President BMO Financial Group, Quebec
"I used to joke about self–wrecked RRSPs but now Tina Di Vito′s new book shows us 52 ways to wreck your retirement. More to the point, she lays out 52 compelling ways to rescue it."
—Jonathan Chevreau, Financial Post columnist and author of Findependence Day
Starting to think about retirement early is the best strategy, but starting today is the next best thing.
Planning for your retirement isn′t something you do once, forget about, and hope that everything turns out for the best. Your retirement encompasses the cumulative effects of many decisions throughout your life. Canadians are living longer than ever before, and the average retiree of the future may have to account for as much as 30 years of retirement living.
Continued financial turmoil and lack of predictability has heightened concerns about what retirement will look like. 52 Ways to Wreck Your Retirement takes a close look at the issues that can spoil your golden years, and what to do about them, including issues surrounding:
Basic planning, and knowing where you stand
Savings, debt, and money management
Investing, risk tolerance, and balance
Pensions, taxation and withdrawals from plans
Each chapter provides advice and actionable steps that you can take in order to get your retirement on the right path. So whether you′re still many years away from retirement or it′s just around the corner, or even if you′re currently retired, 52 Ways to Wreck Your Retirement can help you put the missing pieces in place and motivate you to take action.

Spis treści:
Introduction 1
PART 1: STARTING TO PLAN FOR RETIREMENT 5
1. Thinking You Have a Retirement Plan When You Don′t 7
2. Being Fooled by Feeling and Looking Younger than You Are 12
3. Not Using Your Common Sense 16
4. Living for Today Rather than Saving for Tomorrow 20
5. Not Paying Attention to What′s in All Your Statements 24
6. Not Knowing Where You Stand 29
7. Not Knowing Where Your Money Is Going 33
PART 2: MISTAKES AROUND INVESTING 39
8. Not Knowing How Your Money Is Invested 41
9. Not Knowing How Much Risk You Can Tolerate 48
10. Th inking You′d Rather Be Safe than Sorry 52
11. Putting All Your Eggs in One Basket 57
12. Th inking That Retiring Means You Stop Investing 61
13. Watching Your Investments Too Closely 64
14. Looking for Th at Magic Pill to Boost Your Savings 68
PART 3: MISTAKES AROUND DEBT 73
15. Th inking Th at All Debt Is Created Equal 75
16. Taking Too Long to Pay Off Your Mortgage 82
17. Misuse of Credit Cards 89
PART 4: SAVING FOR RETIREMENT 95
18. Leaving Too Much Free Money on the Table 97
19. Ignoring the Eff ects of Infl ation 102
20. Feeling Th at There′ s No Way You Can Ever Save Enough 108
PART 5: PENSIONS 113
21. Overestimating CPP/QPP Pensions 115
22. Th inking You′re Entitled to the Maximum Old Age Security (OAS) Pension 122
23. Relying Too Heavily on Your Company Pension 126
24. Making the Wrong Choices with Your Defined Benefi t Pension on Retirement 132
25 . Not Considering All the Maturity Options for a Registered Retirement Savings Plan 138
PART 6: LIVING IN RETIREMENT 147
26. Making Too Many Big Changes to Your Life as Soon as You Retire 149
27. Fearing Retirement 154
28. Failing to Talk to Your Partner or Others About Retirement 159
29. Retiring Outside the Country Without First Doing Your Homework 163
30. Downsizing the Family Home Too Late 169
31. Not Doing Some Research Before Starting a Business in Retirement 174
PART 7: SPENDING IN RETIREMENT 179
32. Spending Too Much Money Too Early in Retirement 181
33. Giving Away Too Much Money During Your Life 185
34. Being Afraid to Spend Your Savings 189
PART 8: PAYING TOO MUCH TAX 195
35. Wanting to Keep the Money All to Yourself 197
36. Giving Back Your OAS 205
37. Not Taking Advantage of Tax Gift s Such As the Tax Free Savings Account 210
38. Failing to Plan for U.S. Estate Taxes 215
39. Paying Too Much Tax on Investments 220
PART 9: NEW REALITIES ABOUT RETIREMENT 225
40. Not Being Prepared to Be Single in Retirement 227
41. Believing in Freedom 55 232
42. Believing Th at You Have Only One Retirement Date 236
43. Th inking Retirement Is All About You 241
PART 10: PROTECTION PLANNING 247
44. Not Protecting Your Most Important Asset — You! 249
45. Bad Decisions Around Joint Accounts 254
46. Th inking Your Family Can Automatically Make Decisions for You When You Can′t 258
47. Avoiding Estate Planning 262
48. Choosing the Wrong Benefi ciary for Your RRSP, RRIF, or TFSA 267
49. Sharing Too Much Personal and Financial Information 274
PART 11: NOT ASKING FOR HELP 279
50. Not Doing the Math: Mortgage Versus RRSP Versus TFSA 281
51. Wanting to Do It All Yourself 285
52. Substituting a Retirement Calculator for Retirement Advice 292
Acknowledgements 297
About the Author 299
Index 301

Nota biograficzna:
Tina Di Vito, ca, cfp, tep is the Head of the BMO Retirement Institute, and has more than 20 years of experience helping Canadians plan for and live in retirement. She has been on Canada AM, Global Television, BNN, CNBC and is frequently quoted by the Globe and Mail, the Financial Post, the Toronto Star, the Wall Street Journal and Investment Executive.

Okładka tylna:
"Di Vito′s first foray as an author is a must–read. What we do today determines our tomorrow. This book is a step–by–step plan for what could be the best years of your life—retirement!"
—The Honourable Pamela D. Wallin, o.c., som.
As a result of global uncertainty and volatility, financial matters have become increasingly complex, but Tina′s book will give you the confidence to make better financial decisions and is a superb resource for any Canadian looking to understand how to better prepare for retirement."
—L. Jacques Ménard, o.c., o.q., lld, Vice–Chair of the Task Force on Financial Literacy, Chairman BMO Nesbitt Burns, President BMO Financial Group, Quebec
"I used to joke about self–wrecked RRSPs but now Tina Di Vito′s new book shows us 52 ways to wreck your retirement. More to the point, she lays out 52 compelling ways to rescue it."
—Jonathan Chevreau, Financial Post columnist and author of Findependence Day
Starting to think about retirement early is the best strategy, but starting today is the next best thing.
Planning for your retirement isn′t something you do once, forget about, and hope that everything turns out for the best. Your retirement encompasses the cumulative effects of many decisions throughout your life. Canadians are living longer than ever before, and the average retiree of the future may have to account for as much as 30 years of retirement living.
Continued financial turmoil and lack of predictability has heightened concerns about what retirement will look like. 52 Ways to Wreck Your Retirement takes a close look at the issues that can spoil your golden years, and what to do about them, including issues surrounding:
Basic planning, and knowing where you stand
Savings, debt, and money management
Investing, risk tolerance, and balance
Pensions, taxation and withdrawals from plans
Each chapter provides advice and actionable steps that you can take in order to get your retirement on the right path. So whether you′re still many years away from retirement or it′s just around the corner, or even if you′re currently retired, 52 Ways to Wreck Your Retirement can help you put the missing pieces in place and motivate you to take action.