You can move your registered account anywhere you want, anytime you want. You’re not withdrawing from one institution and re-contributing the money at another one. Instead, you’re moving the entire account, registration and all, to an institution you’ve decided suits you better.
Read MoreOver time, your investments will perform however they perform. Inflation will do its thing to your expenses. Your income will grow (or not). You’ll save more or less than you thought you’d be able to. The interest on your debt will change, and you’ll pay off more or less than we assumed. Tax policy will definitely change to incentivize different behaviours.
This, friends, is the reason it’s called “financial planning”: it’s an iterative process, rather than a one-and-done product.
Read MoreIf your basic needs are being met, and you have more than you need to get by, you have the luxury of deciding what to do with that extra money.
This is important, because–as the saying goes–you can have anything, but you can’t have everything. You have to decide what you want, and you have to decide what you’re willing (or not willing) to do to get it.
Read MoreThere’s not a lot that I can tell you with utter certainty, but here’s something I know for sure: things will go wrong. Here’s what to do if you, like me, don’t own a time machine and can’t travel to the past to do all the “right” things ahead of time.
Read More
