Financial Myths That Will Ruin Your Retirement Dreams

1

Introduction
- Introduction
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- Learning outcomes
- The myths
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- The spreadsheets
- Personal finance - Why do people simply believe what they are told
2

If I had $1,000,000 I could retire
- Introduction
- The 70- rule
- Debunking the 70- rule
- Hart family example
- From myth to reality - Other sources of income
- Demo of My Income and Expenses
- Demo of Cash Flow Projector
- CPP facts & figures 2022
- Can we rely on the CPP
- CPPIB reserve fund chart
- OAS facts & figures 2022
- You don-t need to maintain the fund at $1.4 million until the day you die
3

RRSPs are the Holy Grail of Retirement
- Introduction
- What's really important - RRSPs or net worth
- Demo of Net Worth Calculator
- Advantages of paying off debt vs increasing RRSP
4

Don't worry about your investments: you'll be fine in the long run
- Introduction
- Stock market crash effect
- Your personal rate of return
- Good news
- Demo of the Personal Rate of Return Calculator (PRR)
- How are your mutual funds doing
- Demo of Mutual Fund Fee Calculator
- How to find a good investment advisor
5

Income taxes are the enemy
- Introduction
- Avoiding taxes
6

Buy permanent life insurance to secure your financial future
- Introduction
- Life insurance basics
- Life insurance types, disadvantages of permanent
- Term life CPA Select rate table
- Mortgage vs life insurance
- Income protection insurance
- Take home pay vs income protection insurance benefits chart
7

The Retirement Optimizer
- Introduction
- Demo of Retirement Optimizer lower income
- Lower income example results
- Demo of Retirement Optimizer higher income
- Higher income example results
- How long do you think you will live
8

Cars: Lease vs buy
- Introduction
- Lease or buy
- Demo of Car Lease vs Buy Analyzer
9

Conclusion
- SU S9E1 Conclusion
10

Course resources
- Course resources
11

Quiz for verifiable CPD
- Quiz for verifiable CPD