MoneySense Retire Rich 2014 Recap

MoneySense Retire Rich 2014

MoneySense, Canada’s best-selling finance magazine held an event last weekend titled Retire Rich. The four featured speakers were Bruce Sellery, Duncan Hood, Malcolm Hamilton and Dan Bortolotti. Each person brought something different to the topic of retirement.

Bruce Sellery started the event with his panel on how retirement is not an activity but a life stage. The key to retirement is that you make plans and execute on them. Bruce wanted everyone that attended to do one thing in the next 24 hours to aid your retirement plans.

Next up, Malcolm Hamilton delve into the discussion of how much do you need to retire. Right away, Hamilton immediately counted out the 70 per cent of your income rule. Instead, Hamilton suggests that retirement is about having a similar standard of living. Hamilton gives the advice of start planning your retirement even though it may be decades away.

 After that, the editor-in-chief of MoneySense, Duncan Hood  moderated a Q&A with Rick King. King’s take away message for retirees was to live within your means and enjoy life.

Lastly, Dan Bortolotti from Canadian Couch Potato gave seven steps to a perfect portfolio. He believes that investing is not about the right products but the right process. Below are his seven steps.

  1. Set Realistic Goals
  2. How much of a risk can you take?
  3. Choose your asset allocation
  4. Select your ETFs
  5. Place your ETF trades
  6. Rebalance your portfolio
  7. Stay the course

If you could not attend the event, MoneySense was live blogging the event on Twitter. Here are some of the highlights.

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