Today we have Susan Daley on the show and we’re going to talk all about early retirement, such us how to pull it off, what to look out for, and some of the most common mistakes that Canadians make when trying to plan this out.

Susan is an Associate Portfolio Manager at PWL Capital in Waterloo, where she provides financial planning and investment management services to a wide range of clients. She’s also an Honours BBA graduate from Wilfrid Laurier University, which is actually where I graduated from too, so it’s always fun to chat with a fellow grad about best practices when it comes to financial planning and investing.

She also has her video series called Your Money, Your Choices, which you can find on YouTube and it aims to provide Canadians with expert advice to help improve their personal finances. Topics covered include everything from savings and spending to financial planning, taxes, and investing.

Now let’s get into the show:

• • • Listen to it on iTunes.
  • • Listen to it on Stitcher.
  • Download as an MP3 by right-clicking here and choosing “save link as” or “save as”.

Questions Covered:

1. 1. For somebody that is saving money for a large purchase like a house, wedding, a car, etc., where do you suggest they keep their money to let it grow safely?

1. 1. What to consider when deciding between RRSP vs TFSA vs non-registered? 

1. 1. What if you’re planning to retire or semi-retire early (ex. 30s or 40s where it’s still a long time before government benefits come in). Does that change anything in terms of what accounts you put the funds in? 

1. 1. Is there any time that you would use a non-registered account before using an RRSP and TFSA?

1. 1. How to determine if you’ve saved enough to retire early? 

1. 1. Once you hit that number, what changes do you make to your portfolio since now you’re focused on sustainability instead of growth (changes in terms of asset allocation, and the investment products you choose).

1. 1. Would the answer be different if the person is in their 60s and about to receive government benefits vs if they are retired much earlier (ex. 40s)?

1. 1. What cash cushion do you recommend for those in retirement and semi-retirement?

1. 1. Some advisors recommend real return bonds for those in retirement. What are your thoughts? 

1. How to decide what accounts to take money from in retirement? (RRSP vs TFSA vs non-registered)

You can reach out to Susan here:

Email: sdaley@pwlcapital.com

Phone: 519-880-0888 x. 22 (or 1-877-517-0888)

Website: www.pwlcapital.com/waterloo

Twitter: @_SusanDaley

Linkedin: https://ca.linkedin.com/in/daleysusan

YouTube: https://www.youtube.com/channel/UCYxXNXA0npMEZ7xY74Bq9KA

In Closing

If you enjoyed the episode, please take a moment to leave an honest review and rating on iTunes by clicking the “View in iTunes” button at this link.If you have any tips, suggestions or comments, please be sure to leave a comment in the section below. I read all responses and look forward to hearing from you.Also if you liked the episode please share it using the social media buttons and sign up for free below to receive all new episodes as they get released, news on giveaways, and the free guide on the Top 5 Personal Finance and Productivity Tools here in Canada!I looking forward to hearing from you.

Kornel