The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.
The retiree's dilemma
Keep the family home or downsize? A retiree writes about how he and his wife sold their family house and moved into a condo that proved to be too small. Read here about what they did next.
Planning to work in retirement?
Good luck with that. A lot of people in the United States plan to work well past age 65 to ensure they have enough money to retire. Problem is, the average retirement age is 59. And be careful about planning to earn income with a post-retirement job because only 25 per cent of current retirees actually do it. The message here for Canadians as well as Americans is that they may not be job opportunities if you want to earn money in retirement.
The leading edge of the baby boomer generation is now retired and 52 per cent of the group is out of the workforce. It says here that only 38 per cent were ready to retire.
The down side of DRIPs
Dividend reinvestment plans, or DRIPs, are widely recognized as a smart way to build wealth. However, there are some negatives worth considering.