Cashflow is the focal point of any sound financial plan. The cost of banking fees and lack of interest are a big problem in Canada. Recently, I was reminded the benefits of one of Canada’s best high interest accounts. It pays one of the highest interest rates plus with no fees and lots of flexibility. I have had clients who have been delighted with it for years.
State of mind and mental health, a non-financial component of a strong retirement plan, is so important especially with our eroding health care system. As I have written in my booklet, Transitions, A Retirement Playbook, retirement needs holistically planning for both non-financial and financial factors. This Barron’s article on Marketwatch.com by Jonathan Burton is an interesting endorsement: The Psychology of Retiring.