Wow, where does the time go??
2023 is around the corner, and with that, we figured we’d share some of our favourite posts from 2022 that really resonated with our readers and members, posts that got some media attention, and/or posts that really added value to many visitors to our site based on feedback – detailed case studies (for free!) about potential retirement drawdown orders that you can’t find anywhere else!
Welcome to our best posts of 2022. I hope you enjoy our list!
Our Best Posts of 2022
We started 2022 off with a bang – giving you everything you need to know about the Tax Free Savings Account (TFSA) in a detailed Q&A format, for the 2022 tax year.
In that post, we highlighted via a case study that some millennials could be millionaires but just saving and investing inside their TFSA over a few decades alone!
We also recently updated that post to share the new 2023 TFSA contribution room and the total TFSA contribution limit available to you as well. Hit us up with a comment or a question about that post, including how you’re using the TFSA for wealth-building.
In February, as part of “RRSP season”, we shared what we believe are some of the biggest RRSP mistakes to avoid making over time.
Mistake #4 always gets our attention when we have clients for any services on our site. Read that post to find out more but invariably if more Canadians could avoid that mistake, we believe they are better off enjoying their income and minimizing taxation!
Certainly, with inflation fears running wild, at that time, we questioned whether it was smart to consider an All-Weather Portfolio that would take advantage of different asset classes to weather any market calamity. At Cashflows & Portfolios, we’re not against some of those all-weather arguments but you can read about why we invest the way we do and how other clients are considering fighting some inflationary risks.
As previously mentioned on this site, we love publishing free case studies for folks to dissect and learn from – so publishing a few of those in 2022 definitely made the cut as some of our best posts of 2022.
So many folks are considering some hobby or side income, to support their retirement plans. That’s very smart since a small, part-time job could actually save your retirement plan!
This month, inflation continued its torrid climb higher in 2022.
So, we proposed: how can you take advantage of inflation?
Pages upon Google pages include references to the “4% rule”.
While we continue to believe this heuristic is a decent rule of retirement planning thumb, we have a lot of conviction in writing this rule doesn’t really work for any Financial Independence, Retire Early (FIRE) pursuit.
In fact, we wondered in June if the 4% rule works with higher inflation at all.
Read on here, to find out our answer.
Our crystal ball is always very cloudy, but we did take a stab in July to highlight what we believe are reasonable expected returns going forward, for equities, bonds and some cash.
Of course, I think our Morgan Housel quote summed up our thinking for the years that lie ahead:
“Planning is important, but the most important part of every plan is to plan on the plan not going according to plan.” – Morgan Housel, The Psychology of Money.
For the longest time, there was just TINA (There Is No Alternative) to equities but we believed earlier this year that bonds and/or GICs might make a comeback to some retirement and cashflow portfolios if, rather when interest rates rise in the coming months.
Should you own bonds or GICs or both in your portfolio? What’s our take?
Read on to find out what we favour and why for some early retirement planning.
September and October 2022
Although we’re fans and owners of a few low-cost ETFs for diversification in our portfolios, we find it incredibly appealing to own stocks that as a collective, Beat the TSX.
In September, we profiled the Beat the TSX (BTSX) portfolio and set the stage to interview a passionate DIY investor about this investing approach, in a future month, including how this investing approach generates his retirement income – and how it could generate meaningful portfolio cashflow for you too!
In October: When BTSX works and when it doesn’t!
We all have biases in life, we probably couldn’t survive with our lizard brains if we didn’t make some snap–decisions now and then.
To highlight what we need to overcome as investors, we figured we’d highlight some common personal finance biases. This post includes what you can do to identify them and navigate them to become better investors over time.
Just a few weeks ago, inspired by some client interactions, we wanted to put together our list of top tax tips for retirees to consider, as the current tax year ends and as a new tax year begins.
Our Best Posts of 2022 Summary
After helping almost 100 clients in 2022, we’re proud to have been a difference maker for many Canadians seeking to better understand their portfolio drawdown options, the tax implications of doing so, and answering some critical questions associated with some retirement income planning such as:
- What registered accounts could I draw down first, and why?
- How much income will my investments generate over time to support my lifestyle?
- Do I have any idea how long this income might last?
- What amount of taxes will my portfolio incur?
- When should I take my workplace pension?
- And much, much more…
Knowing how to demystify the retirement income puzzle is not trivial work but it’s absolutely something we can help with – we’ve helped so many people in 2022 and we are looking forward to helping 100+ more in 2023!
Even better, all returning clients can take advantage of our massive loyalty discount with us. We put that in writing and you can restart the process with us, anytime!
(Try finding that discount with some other folks!)
If you are interested in obtaining private retirement projections for your financial scenario, please contact us here to get started.
Stay tuned for more, great, FREE content on our site in 2023. We’re happy to help.
Happy Holidays to you and your family.
See you on the site, in our inbox, or in the membership section next year.
Mark and Joe.