Enough Bull
How to Retire Well Without the Stock Market, Mutual Funds, or Even an Investment Advisor
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Enough Bull
How to Retire Well Without the Stock Market, Mutual Funds, or Even an Investment Advisor
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Stop risking everything to make your investment advisor rich
The stock market crash of 2008 proved one thing: traditional retirement planning advice simply doesn't work. The risks are too enormous. Trusting the stock market is like gambling with your family's future. But how do you plan for retirement without risking everything? Enough Bull shows you how, with an easy-to-understand, simple-to-apply strategy for a better retirement.
Enough Bull overturns the conventional wisdom about retirement planning, and offers the simple secrets to securing a comfortable retirement. In an accessible…mehr
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The stock market crash of 2008 proved one thing: traditional retirement planning advice simply doesn't work. The risks are too enormous. Trusting the stock market is like gambling with your family's future. But how do you plan for retirement without risking everything? Enough Bull shows you how, with an easy-to-understand, simple-to-apply strategy for a better retirement.
Enough Bull overturns the conventional wisdom about retirement planning, and offers the simple secrets to securing a comfortable retirement. In an accessible and straightforward style, this practical guide explains how it's possible to save for retirement starting later in life, retire comfortably on less money, and incur less risk. Updated to apply to both the U.S. and Canada, this new second edition offers a message of hope for average, cash-strapped baby boomers by detailing a step-by-step plan for avoiding all the traps, doing the exact opposite of what the major financial institutions recommend, and still coming out further ahead.
Invest only in safe investments that will never decline
Get out of the stock market and mutual funds forever
Why waiting to save for retirement may beat starting early
Elect to receive the CPP pension at exactly the right age
Avoid the common scams that lead to financial disaster
More than ever before, retirees are frightened and stressed out about finances. There never seems to be enough to pay current bills, let alone save thousands in RRSPs and 401Ks, yet the large financial institutions bombard us with fearful messages of destitution unless we maximize our contributions. The truth is this makes them rich, and you poor. Cut through the noise, stop taking the bait, and discover how you can have a comfortable future without sacrificing the present. Enough Bull provides the plan, you just need to act.
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- Produktdetails
- Verlag: Wiley & Sons
- 2. Aufl.
- Seitenzahl: 224
- Erscheinungstermin: 24. Februar 2015
- Englisch
- Abmessung: 234mm x 157mm x 20mm
- Gewicht: 363g
- ISBN-13: 9781118994177
- ISBN-10: 1118994175
- Artikelnr.: 41610007
- Verlag: Wiley & Sons
- 2. Aufl.
- Seitenzahl: 224
- Erscheinungstermin: 24. Februar 2015
- Englisch
- Abmessung: 234mm x 157mm x 20mm
- Gewicht: 363g
- ISBN-13: 9781118994177
- ISBN-10: 1118994175
- Artikelnr.: 41610007
Angry yet? 3 Why I Wrote this Book 3 Your Retirement Journey 4 Down the
River 5 Uh-Oh, it's the Niagara River 5 Retirement Journey: Plan B 7 Here's
What They Don't Want You to Know 7 PART ONE: THE ANTIDOTE - A SIX POINT
PLAN FOR FINANCIAL FREEDOM 9 Chapter 1--Avoid Personal Financial Disasters
13 The Ponzi Scheme 14 Bernie Madoff 16 Our Very Own Canadian Fraud 18 What
Did the "Average" Victim Look Like? 19 How Did Investors Become Involved in
Eron? 20 What Steps Did They Take Before Investing? 20 Why Did They Invest?
21 Where Did They Get the Money? 21 The Lessons of Eron 21 Extraordinary
Popular Delusions 22 Other Potential Disasters 23 Credit Card Disease 23
Taking Out a Mortgage on Your Home to Invest 24 The Latest Stock Chase 24
Trusting Your "Friends" 24 Mortgage Fraud 24 How to Prevent Personal
Financial Disasters 24 Conclusion 25 Chapter 2--You Don't Need the Stock
Market or Mutual Funds 27 The Worldwide Economic Meltdown 27 The United
States 29 The Recovery 31 What Caused the Meltdown 32 The Vicious Spiral 34
Who Wants to be Rich? 35 Why You Don't Need Stocks 36 Why You Don't Need
Mutual Funds - Risk 37 Mutual Fund Risks 38 Those Darn Mutual Fund Fees! 43
1. Fees and Expenses Payable Directly by You 43 2. Fees and Expenses
Payable by the Fund or Portfolio 45 We Won't Get Fooled Again 49 The Canada
Deposit Insurance Corporation 50 The Advantages of GICs 54 Why They Try to
Make Even GICs Complicated 55 How and Why They Bash GICs 56 The Laddered
GIC 57 Getting the Best GIC rates 60 Consider a Deposit Broker 61 Who
Regulates Deposit Brokers? 63 Fiscal Agents 64 GIC Rates of the Future 68
Chapter 3--Buy a Home and Pay off the Mortgage 69 Gains in Value are
Tax-Free 70 Source of Cash 70 Source of Retirement Funds 70 Should I Buy a
House? 71 Can I Afford a House? 72 Gross Debt Service Ratio (GDS) 72 Total
Debt Service Ratio (TDS) 72 Just How Much House Can You Afford? 72 Saving
For the Down Payment 73 Buying With Less Than 20% Down 74 WARNING: Mortgage
Companies Love Selling Mortgage Life Insurance! 74 Pre-Approved Mortgages
76 What if I don't qualify? 77 Your Credit Report 77 What is in a Credit
Report 78 How to Get a Free Copy of Your Credit Report 79 Getting Your
Credit Report Online 79 What is a FICO Credit Score? 80 What Affects Your
Credit Score? 80 An Important Warning: 80 How to Improve Your Credit Score
81 Your Home as an Investment 82 "The Best Investment I Ever Made" 84
Chapter 4--Reducing Expenses Doesn't Have to Be Painful 85 Reducing the
Interest You Pay 85 The Spending Years 86 Reducing the Amount of the Debt
86 Reducing the Interest Rate on the Debt 88 Debt and the Economy 90
Reducing Taxes 91 How to Calculate Your Tax Bill 91 Happy New Year - Here's
Your Reduced Paycheck 92 Marginal Tax Rates 94 Pension Income Splitting 96
What You Can't Split 97 How to Split Pension Income 98 Benefits of
Splitting Pension Income 99 How Much Pension Income to Transfer 100 How to
Claim the Pension Income Amount 101 Spousal RRSPs: Still a Useful Tool 101
Self-Employment - King of the Income Splitters 103 But I Don't Know
Anything About Being Self-Employed 106 Self-Employment Does Not Have to Be
Complicated 106 Conclusion 107 Chapter 5--Forget RRSPs Until Your Debt is
Paid Off (The Opportunity Zone) 109 Pretend the Stock Market Does Not Exist
109 The RRSP Fallacy 110 Compound This 113 The Tax Turbo-Charged RRSP 113 A
Word about Your RRSP Limit 113 Do You Trust the Stock Market? 114 Those
Ugly Fees 115 Don't Put All Your Eggs in One Basket 115 Conclusion 116
Chapter 6--You May Not Need an Investment Advisor 117 My Story 118 What I
Did Next 120 What to Look for in an Investment Advisor 121 For Those Who
Have a Lousy Advisor 121 No Advisor is Better than a Bad One 122 Henry's
Story 122 Conclusion 127 PART TWO: THE DETAILS 129 Chapter 7--The Canada
Pension Plan 131 What is the Canada Pension Plan? 131 How they Calculate
CPP premiums 132 How they Calculate the CPP Pension 132 How the CPP adjusts
for Inflation: The YMPE 132 CPP Pension 133 The New CPP Rules 134 Early
election penalty 134 Deferring election premium 135 Removal of work
cessation test 135 Post-Retirement Benefit (PRB) 135 Drop-out Provision 136
How to Apply for your CPP Pension 136 My Service Canada Account 138 How to
Register for My Service Canada Account 138 How to Calculate your CPP
Retirement Pension 140 Money Saving Tip - CPP Pension Sharing 146 CPP
Pension Sharing Example 146 When Should I Elect to Receive CPP? 148 Step 1
149 Step 2 149 Step 3 149 Step 4 149 Warnings 149 Catch #1 150 Catch #2 150
Catch #3 151 Conclusion 151 Chapter 8--The Money Maximizer 153 Why Work
Against the Taxman? 153 The Value of Time 154 The Time Value of Money 155
The Money Maximizer Spreadsheet 155 Meet Pat and Jane 157 Pat and Jane: The
Assumptions 161 Pat and Jane: The Results 162 Pat and Jane Try Income
Splitting 163 Putting the RRSP "Start Late" Theory to the Test 164 Pat's
Turbo-Charged RRSP 166 Conclusion 167 Chapter 9--Retiring Without the Stock
Market 169 The Devastating Effect of the Crash 170 Are You Going to Throw
Good Money after Bad? 170 You Can Still Retire Well 171 1. CPP Pension
Splitting 173 2. Electing CPP early 173 3. RRSP/RRIF Income Splitting 173
4. Extending Your Retirement Date 173 Other Ideas 174 Conclusion 174
Chapter 10--You May Not Need an RRSP 175 A Common Misconception 175
Alternatives to RRSPs 175 Investing Outside Versus Inside an RRSP 176
Investing in Real Estate 179 Investing in Your Own Business 180 Invest in a
Tax Free Savings Account 180 The TFSA as an Income Splitter 182 Opportunity
for Retirees 182 Does Anyone Have $5,500 Outside a Registered Account? 183
Why the TFSA is Better than an RRSP for Home Buyers 183 The RRSP Home
Buyers' Plan 184 Keeping Profits in a Corporation 185 Conclusion 185
Chapter 11--The Antidote Summary 187 1. Avoid Personal Financial Disasters
187 2. You Don't Need the Stock Market or Mutual Funds 187 3. Buy a Home
and Pay Off the Mortgage 188 4. Reducing Expenses Doesn't have to be
Painful 188 5. Forget RRSPs Until Your Debt is Paid Off (the Opportunity
Zone) 188 6. Ask Yourself if You Really Need an Investment Advisor 188
Index 189
Angry yet? 3 Why I Wrote this Book 3 Your Retirement Journey 4 Down the
River 5 Uh-Oh, it's the Niagara River 5 Retirement Journey: Plan B 7 Here's
What They Don't Want You to Know 7 PART ONE: THE ANTIDOTE - A SIX POINT
PLAN FOR FINANCIAL FREEDOM 9 Chapter 1--Avoid Personal Financial Disasters
13 The Ponzi Scheme 14 Bernie Madoff 16 Our Very Own Canadian Fraud 18 What
Did the "Average" Victim Look Like? 19 How Did Investors Become Involved in
Eron? 20 What Steps Did They Take Before Investing? 20 Why Did They Invest?
21 Where Did They Get the Money? 21 The Lessons of Eron 21 Extraordinary
Popular Delusions 22 Other Potential Disasters 23 Credit Card Disease 23
Taking Out a Mortgage on Your Home to Invest 24 The Latest Stock Chase 24
Trusting Your "Friends" 24 Mortgage Fraud 24 How to Prevent Personal
Financial Disasters 24 Conclusion 25 Chapter 2--You Don't Need the Stock
Market or Mutual Funds 27 The Worldwide Economic Meltdown 27 The United
States 29 The Recovery 31 What Caused the Meltdown 32 The Vicious Spiral 34
Who Wants to be Rich? 35 Why You Don't Need Stocks 36 Why You Don't Need
Mutual Funds - Risk 37 Mutual Fund Risks 38 Those Darn Mutual Fund Fees! 43
1. Fees and Expenses Payable Directly by You 43 2. Fees and Expenses
Payable by the Fund or Portfolio 45 We Won't Get Fooled Again 49 The Canada
Deposit Insurance Corporation 50 The Advantages of GICs 54 Why They Try to
Make Even GICs Complicated 55 How and Why They Bash GICs 56 The Laddered
GIC 57 Getting the Best GIC rates 60 Consider a Deposit Broker 61 Who
Regulates Deposit Brokers? 63 Fiscal Agents 64 GIC Rates of the Future 68
Chapter 3--Buy a Home and Pay off the Mortgage 69 Gains in Value are
Tax-Free 70 Source of Cash 70 Source of Retirement Funds 70 Should I Buy a
House? 71 Can I Afford a House? 72 Gross Debt Service Ratio (GDS) 72 Total
Debt Service Ratio (TDS) 72 Just How Much House Can You Afford? 72 Saving
For the Down Payment 73 Buying With Less Than 20% Down 74 WARNING: Mortgage
Companies Love Selling Mortgage Life Insurance! 74 Pre-Approved Mortgages
76 What if I don't qualify? 77 Your Credit Report 77 What is in a Credit
Report 78 How to Get a Free Copy of Your Credit Report 79 Getting Your
Credit Report Online 79 What is a FICO Credit Score? 80 What Affects Your
Credit Score? 80 An Important Warning: 80 How to Improve Your Credit Score
81 Your Home as an Investment 82 "The Best Investment I Ever Made" 84
Chapter 4--Reducing Expenses Doesn't Have to Be Painful 85 Reducing the
Interest You Pay 85 The Spending Years 86 Reducing the Amount of the Debt
86 Reducing the Interest Rate on the Debt 88 Debt and the Economy 90
Reducing Taxes 91 How to Calculate Your Tax Bill 91 Happy New Year - Here's
Your Reduced Paycheck 92 Marginal Tax Rates 94 Pension Income Splitting 96
What You Can't Split 97 How to Split Pension Income 98 Benefits of
Splitting Pension Income 99 How Much Pension Income to Transfer 100 How to
Claim the Pension Income Amount 101 Spousal RRSPs: Still a Useful Tool 101
Self-Employment - King of the Income Splitters 103 But I Don't Know
Anything About Being Self-Employed 106 Self-Employment Does Not Have to Be
Complicated 106 Conclusion 107 Chapter 5--Forget RRSPs Until Your Debt is
Paid Off (The Opportunity Zone) 109 Pretend the Stock Market Does Not Exist
109 The RRSP Fallacy 110 Compound This 113 The Tax Turbo-Charged RRSP 113 A
Word about Your RRSP Limit 113 Do You Trust the Stock Market? 114 Those
Ugly Fees 115 Don't Put All Your Eggs in One Basket 115 Conclusion 116
Chapter 6--You May Not Need an Investment Advisor 117 My Story 118 What I
Did Next 120 What to Look for in an Investment Advisor 121 For Those Who
Have a Lousy Advisor 121 No Advisor is Better than a Bad One 122 Henry's
Story 122 Conclusion 127 PART TWO: THE DETAILS 129 Chapter 7--The Canada
Pension Plan 131 What is the Canada Pension Plan? 131 How they Calculate
CPP premiums 132 How they Calculate the CPP Pension 132 How the CPP adjusts
for Inflation: The YMPE 132 CPP Pension 133 The New CPP Rules 134 Early
election penalty 134 Deferring election premium 135 Removal of work
cessation test 135 Post-Retirement Benefit (PRB) 135 Drop-out Provision 136
How to Apply for your CPP Pension 136 My Service Canada Account 138 How to
Register for My Service Canada Account 138 How to Calculate your CPP
Retirement Pension 140 Money Saving Tip - CPP Pension Sharing 146 CPP
Pension Sharing Example 146 When Should I Elect to Receive CPP? 148 Step 1
149 Step 2 149 Step 3 149 Step 4 149 Warnings 149 Catch #1 150 Catch #2 150
Catch #3 151 Conclusion 151 Chapter 8--The Money Maximizer 153 Why Work
Against the Taxman? 153 The Value of Time 154 The Time Value of Money 155
The Money Maximizer Spreadsheet 155 Meet Pat and Jane 157 Pat and Jane: The
Assumptions 161 Pat and Jane: The Results 162 Pat and Jane Try Income
Splitting 163 Putting the RRSP "Start Late" Theory to the Test 164 Pat's
Turbo-Charged RRSP 166 Conclusion 167 Chapter 9--Retiring Without the Stock
Market 169 The Devastating Effect of the Crash 170 Are You Going to Throw
Good Money after Bad? 170 You Can Still Retire Well 171 1. CPP Pension
Splitting 173 2. Electing CPP early 173 3. RRSP/RRIF Income Splitting 173
4. Extending Your Retirement Date 173 Other Ideas 174 Conclusion 174
Chapter 10--You May Not Need an RRSP 175 A Common Misconception 175
Alternatives to RRSPs 175 Investing Outside Versus Inside an RRSP 176
Investing in Real Estate 179 Investing in Your Own Business 180 Invest in a
Tax Free Savings Account 180 The TFSA as an Income Splitter 182 Opportunity
for Retirees 182 Does Anyone Have $5,500 Outside a Registered Account? 183
Why the TFSA is Better than an RRSP for Home Buyers 183 The RRSP Home
Buyers' Plan 184 Keeping Profits in a Corporation 185 Conclusion 185
Chapter 11--The Antidote Summary 187 1. Avoid Personal Financial Disasters
187 2. You Don't Need the Stock Market or Mutual Funds 187 3. Buy a Home
and Pay Off the Mortgage 188 4. Reducing Expenses Doesn't have to be
Painful 188 5. Forget RRSPs Until Your Debt is Paid Off (the Opportunity
Zone) 188 6. Ask Yourself if You Really Need an Investment Advisor 188
Index 189