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Do Ontarians have enough to live on in retirement?
Helen Fetterly | August 22, 2013
- 64% of Ontarians surveyed are worried they won’t have enough income to live on in retirement. 
- approximately 60% of Canadians have no workplace coverage whatsoever.
-  Ontarians are fearful about growing older and fearful they may not have enough money to see them through to the end of their life

Boomers fall short of retirement savings goals by $430,000
Staff | August 28, 2013
- A BMO Wealth Institute study finds that boomers anticipate they will each require $658,000, on average, to feel financially secure.  However, they’ve saved only an average of $228,000, a difference of $430,000.
- To generate that $54,100 in retirement income annually, a retired couple would need to have saved about $1.35 million. The report also finds that to make up for their lack of retirement savings, boomers are looking at other ways to cover the shortfall.
- “It’s clear that existing pension structures are not allowing people to reach their saving goals.”
- “The good news is that Canadian investors at least seem to be recognizing the danger,” says Noel Archard, managing director and head of BlackRock Canada. “The challenge for them now is to do something about it.”

Wynne says pensions need to be improved
Staff | November 13, 2013
-  Ontario Premier Kathleen Wynne warns that unless retirement  incomes are improved, Canada will suffer the consequences. “People are not saving enough for retirement, and if we let this go unchecked, we’re going to face a huge economic crisis,” she said.

The Truth About Where Americans Stand With Their Retirement:
According to recent surveys:

  1. The average retirement fund has lost $12,000
  2. 1/3 of all Americans have no retirement saved at all
  3. 30% of American workers have less than $1,000 in savings and investments (2012 EBRI Survey)
  4. 56% of workers have not calculated how much they need for retirement
  5. In 2008, U.S. Retirement Accounts shrunk by $2 Trillion

 

There was a recent PBS special documentary, on retirement accounts and the incredible fees associated with them, proving that fees can eat up over 60% of one’s portfolio, over the life of the investment. Found here: http://www.pbs.org/wgbh/pages/frontline/retirement-gamble/

Narrated by Frontline Correspondent:  Martin Smith

Notes from this PBS Documentary:

60 cents of every Mutual Fund goes to pay the fees of the Mutual Fund providers – this results in an average of $110,000 in fees over the life of your Mutual Fund that the average investor has to give up out of his own hard earned money!

The average retirement Account has lost $110,000 in the past decade.

The key to having your retirement funds work out for you is having enough returns on them and this has not been the case over the past decade due to 2 stock market crashes (2000 – the Tech Bubble and 2008 – the Housing Bubble).  Mutual funds worked great in the late eighties and nineties and could have earned you anywhere from 15-20% a year minus all of the enormous fees, but they are no longer a viable means of growing your wealth.  Buy and hold is no longer working!

Many baby boomers are having to extend their retirement age due to not enough money.

There is currently $10 trillion invested in Mutual Funds and other investments from you and I.

We are in a “retirement mess!”

The Mutual Fund Industry has been able to protect themselves from really letting you know the dangers of your money.

The year the market crashed in 2008, Wall Street paid out $18 Billion in Bonuses!

There is currently an average annual expense for owning a Mutual Fund which ranges from about 2 – 5% - this will result in six figures of expenses (money you will lose) after about a 20 years life span of your Mutual Fund.  So if your Mutual Fund loses money, plus you owe these fees no matter if it gains or losses you money …… how can you possibly win at that game?

According to ICI (Investment Company Institute – www.ici.org), if you had money in Mutual funds for the past 14 years ….. congratulations …… you just broke even!  More importantly, you just lost 14 years of your precious time, working hard towards your retirement!

 

 

Here’s a proven success formula for all of the above:

“A NEW retirement system has been born!”

 

 

Disclaimer: This document is for informational, educational or demonstration purposes only. This is neither a solicitation nor offer of advice to any user of this information. Unique experiences and past performances do not guarantee future results. You should speak with your CPA or financial representative (broker dealer, financial analyst, advisor) to ensure that the software /strategy that you utilize is suitable for your investment and risk profile; especially, before trading in a live brokerage account, or if you have any doubts at all. Team Traders Club, Norm and/or Nancy Lacasse, CoolTraderPro and/or, CoolTrade do not make buy, sell, or hold recommendations. All opinions and/or suggestions given hereto is intended for running the CoolTrade software in simulation mode only. No advice on trading is given. Any reports shown are examples of closed trades and do not reflect the running P&L of open positions. One must refer to trader dashboard to see the net P&L of all open positions. All price points are mathematically driven and shouldn't be the sole basis of a trade. There are risks associated with utilizing an internet-based computerized mechanical trading system including, but not limited to, the failure of hardware, software and internet connection. In addition, we are not responsible for communication failures, distortions or delays of data.