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Investing 101 - What’s the best way to generate cash from your investments in retirement?
What’s the best way to generate cash from your investments in retirement?
For most of your adult life, one of the challenges of managing money is slicing off a piece of your paycheque and adding that to investments that will, hopefully, grow your nest egg over time.
Money is money, and methods of growth are similar around the globe; but I'm not interested in Canadian investment vehicles, EH??? Fortunately, I'm fluent in reading, writing and speaking Ontario dialect Canadian; and while the country is a short drive away, is a great place to visit; no direct investments there are in our game plan. How about a link for our other neighbor? Mexico investment choices for Americans.
Like the USA, Canada Savings Bonds offer risible interest rates to the lender. Canada offers a tax-free savings account via many banks and maybe credit unions. Last time I checked on THAT, they were offering less than 1%. Clearly, those are intended for people who have all the other possible investing bases covered. Here's a silly little anecdote which I believe is very telling: Canada has done away with the penny. When you get change for your purchase at the store, it will be ROUNDED up or down to the nearest nickel. ...Which reminds me of a conversation I had with my friend up there just a couple of weeks ago: I understand that currency exchange rates change all the time. But lately, with $1 US, you can get about $1.33 CAD. What I DON'T understand is why the same thing does not work in reverse: Why isn't the Canadian dollar worth sixty seven cents in US currency? Posted rates put it at about seventy five cents US. ORK???? Who has an answer for me?
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Fortunately, I'm fluent in reading, writing and speaking Ontario dialect Canadian; and while the country is a short drive away, is a great place to visit; no direct investments there are in our game plan.
How about a link for our other neighbor? Mexico investment choices for Americans.