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The traditional pillars of retirement are now in doubt.

Personal Savings

38 million Americans are currently living paycheck to paycheck.*

Canada is not doing better. 30% percent of Canadians can’t handle more than $500 of unexpected expenses without going into debt, and an additional 28% can’t handle more than $2000.**

Company Pensions

The good old days of pensions are disappearing in North America. In the U.S., companies now offer 401ks, and few match contributions. In Canada, companies have been moving away from Defined Benefit Plans that provide a known retirement amount to Defined Contribution Plans that leave the investment risks with the worker.

Government Programs: Social Security and Canada Pension Plan

In the 1940s, for every retiree there were over 40 American workers contributing to Social Security. Today this number has shrunk to roughly 3 per retiree.*** This imbalance will put increasing pressure on the government’s ability to sustain Social Security and provide benefits to seniors who are living longer and require more support.

In Canada, there are similar pressures on the Canada Pension Plan (CPP) caused by an aging population that is living longer. As of January 2015, if you were to qualify for the maximum monthly retirement pension at age 65, it would be $1,065 per month.**** Is this enough to provide you with the secure retirement that you desire?

More than ever, people need to change their thinking from Social Security to Self Security. You must fund your own retirement. You can’t depend on unions, your employer, or the government. You must take charge of your financial future and develop new financial habits. 

• Make Money
• Save Money
• Grow Money
• Protect Money

Financial concepts and solutions may not be the most exciting subject. But with discipline and patience, you can learn and understand the fundamentals. And you can build a good financial foundation.

Financial independence is not a dream. It is a priority. Take control of your future.