Do I Have Enough Money to Retire?

It’s easy to be optimistic about the prospect of retiring on the money you have saved up. Here’s a sobering thought.

People don’t look at the downside. I can not emphasize enough how important this is.

The bottom line

Look at the worst case scenario. If you were to become sick or injured and were unable to work, and didn’t have any cash flow coming in, what would that mean for your retirement?

How would you survive right now?

If you don’t have the cash flow to sustain your style of living or even your basic expenses, it may be time to sit down and do a bit more financial planning. Let me know if this is something you’d like to do.

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Disclaimer:

Information in this article is from sources believed to be reliable, however, we cannot represent that it is accurate or complete. It is provided as a general source of information and should not be considered personal investment advice or solicitation to buy or sell securities. The views are those of the author, Eric Muir and Derek Lacroix and not necessarily those of Raymond James Ltd. Investors considering any investment should consult with their Investment Advisor to ensure that it is suitable for the investor’s circumstances and risk tolerance before making any investment decision. Raymond James Ltd. is a Member Canadian Investor Protection Fund.