Pensions Are Worth Zero?

Pensions Are Worth Zero?A recent Family Finance column in the Financial Post showed something strange about the way that financial planners calculate a person’s net worth. Apparently, having a defined-benefit pension plan does not add anything to your net worth. The article profiled Doris, a grandmother with a simple balance sheet. She has a car worth $3000, owes $10,000 on her line of credit, and can begin drawing a $1400 per month pension…

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How Much Do You Need To Retire? The 10% Rule

How Much Do You Need To Retire? The 10% RuleWhen trying to figure out how much you need to retire, there are many different rules of thumb you could follow. While I’ve previously discussed the 4% rule and the rule of 20, which both calculate your likely income at retirement, the most common calculation on how much to save up to retirement may be the 10% rule. The 10% rule simply states that you should save 10% of your…

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