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INTERESTING
INFORMATION
- In
Canada, 95% of the population will not be able to retire on at
least 75% of their pre-retirement income.
-
The cost of waiting 10 years from say age 30 to age 40, and then
putting away just $1,000 per year, earning 10%, will result in
the difference between having $285,491 or $103,597. This difference
would have generated an additional $23,280 of income per year
from age 65 to 90, or $582,000 in extra lifestyle expenditure.
-
72% of all Canadians age 65 and over earn less than $20,000 per
year, while only 6% have incomes over $40,000 (These figures include
government pension plans).
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Over 30 years the difference that 2% makes on $100,000 at 8% is
$1,006,266 vs. at 10% $1,774,940 or a 43.3% reduction in value.
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Between January 1, 1984 and June 30, 1995, investors with financial
advisors saw the value of their equity investments increase by
96.4% while those without advisors experienced an average increase
of 79.5%.
-
If you are thinking of trying to time the market by buying and
selling securities, you have a 1/1,000,000 chance of getting it
correct six times in a row...
-
For the average person having invested in 1940, inflation adjusted
today they would have a 1% chance they have more money than they
started with; 2% they are even; and 97% that they would have less.
No wonder wealthy people, or those who aspire to be, use professional
wealth managers.
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