Money How to Earn Steady Monthly Income in Your Retirement

04:20  11 january  2018
04:20  11 january  2018 Source:   The Motley Fool

The best way to transfer RESP money to an RRSP

  The best way to transfer RESP money to an RRSP Transferring in-kind versus cashing out, plus keep in mind penalties due—Johanna

Retirement brings many changes in one’s life, and the biggest one is that you’re no longer dependent on your monthly paycheques. Here are some of the most reliable dividend stocks you can consider to earn monthly income .

earning ,000 a year who hiked 401(k) contributions by 1% just once would end up with an additional 7 of monthly income in retirement . With low interest rates, it’s not so easy to turn that portfolio into a steady income stream, so it’s crucial to figure out how to make your money last in

person sitting on a bench in a park: retire© Provided by Fool retire

Getting financial freedom is one of the main worries for retirees during their golden years.

Retirement brings many changes in one’s life, and the biggest one is that you’re no longer dependent on your monthly paycheques. This is the time when you’ll start dipping into your investment funds for your monthly expenses.

A trusted way to solve this problem for retirees is to build a portfolio with stocks that pay monthly dividends. A diversified and tax-efficient portfolio, focusing on income-generating stocks, makes sense in this low-rate environment when savings accounts, GICs, and government bonds pay almost nothing.

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  Why can’t Canada keep up with other countries in child care? Many Canadian parents know that paying for child care for young children while they go to work is painfully expensive. But do they (and our federal government) know that child care costs in Canada are among the highest in the world? This not only hurts families, this hurts our children; it hurts Canada’s economy. If the Government of Canada truly wants to help the middle classes and women’s equality as its party line touts, then it must make higher direct investments to child care.The new report from the Canadian Centre for Policy Alternatives on the rising cost of child care fees concludes that the typical family with young children pays about a third of its income to child care.

Planning Your Retirement Income . How fixed immediate annuities can help. And now that you get to enjoy the freedom that comes with it, the next big decision is how to make your hard- earned savings last. In return, you’ll receive a steady monthly 1 income , sent by check or directly deposited into

These retirement challenges are for real & pose the biggest risk of creating a dent in your retirement savings. Imagine funding your retirement life for at least 15-20 years. Teaching: This is another good option to earn some steady income .

Quotes in the article

Riocan Real Estate Investment Trust

RIOCF

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  Is part-time teacher on track to retire in 9 years? Sarah can do it, with a strategy that balances real estate with investmentsRight now, Sarah earns $55,000 annually—$50,000 annually from her teaching job and another $5,000 in income from her side jobs. Her assets total $775,000 with her largest being her $675,000 condo in Toronto. She’s a few months away from being mortgage free and hopes to put the $8,000 or so annually that she’s paying on her mortgage towards savings in 2018. Carrying costs and maintenance on her condo—including property taxes, insurance and maintenance come to about $9,000 annually.

The steady path to a dream retirement . Whether you decide to consult in your former field or pursue a hobby you're passionate about, you can make up for that missing Social Security income by earning the money yourself.

So the question is how to manage retirement – how to earn money, plan finances etc. Jobs after retirement – Various ways to generate income : If you draw a regular pension that meets your monthly expenses, nothing could be better than this as long as it meets your expenses.

19.17
-0.56
-2.84%
AltaGas Ltd

ATGFF

22.84
-0.26
-1.13%
Chartwell Retirement Residences

CWSRF

13.23
+0.12
+0.95%
Inter Pipeline Ltd

IPPLF

20.51
-0.40
-1.93%

Here are some of the most reliable dividend stocks you can consider to earn monthly income.

Real estate investment trusts (REITs)

REITs manage properties that generate monthly cash flows. REITs have been structured to distribute the maximum cash to the shareholders. The biggest advantage of investing in REITs is the tax treatment these companies get from CRA. REITs pay distributions before they pay tax to the taxman, and that means more money in your pocket.

In Canada, we have many quality REITs that have solid portfolios of rental properties that churn out cash on monthly basis.

RioCan Real Estate Investment Trust (TSX:REI.UN) is Canada’s largest REIT, managing 300 retail properties across Canada, and it has some of the biggest retail names as its clients. Trading at $24.65, RioCan pays a monthly distribution of $0.1175 per unit, or a 5.7% annualized yield.

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How to earn an extra paycheck each month . If you’re planning for, near or already in retirement , you’ll need this monthly income to continue living the lifestyle you want. Second, we share the secrets used by the wealthy so investors can lock in steady income on investments they won't find

Aside from Social Security, for which your only decision is when to receive a monthly payment for life, your other retirement assets typically come with decisions on when and how to receive them. Rather than taking your pension plan money in the form of a steady income stream in retirement —a stream

Chartwell Retirement Residences (TSX:CSH.UN), the largest operator in the Canadian senior-living space, is another company to make stable monthly income. Chartwell manages over 175 locations across four provinces in Canada. Trading at $16.2, this REIT pays a stable monthly distribution of about $0.048 per unit with an annualized yield of 3.5% at the time of writing.

Energy infrastructure utilities

Just like REITs, energy infrastructure companies and utilities provide another safe avenue for retirees to earn stable monthly income.

In this space, Calgary-based Altagas Ltd. (TSX:ALA) and Inter Pipeline Ltd. (TSX:IPL) are two reliable names that pay monthly dividends.

With a 7.7% annual dividend yield, Altagas pays a $0.1825-a-share monthly distribution, which comes to $2.19 a share yearly. The amount of the distribution has increased ~50% during the past five years. The company plans to hike it payouts by 8% each year through 2019.

IPL pays a $0.14-a-share monthly dividend at an annual yield of 6.8% at the time of writing. IPL has never missed its dividend since it started the monthly distribution in 2003. The dividends have grown over time, doubling in the past 10 years.

Morneau to make retirement official with Twins sendoff

  Morneau to make retirement official with Twins sendoff Canadian Justin Morneau, the 2006 AL MVP and Minnesota Twins first baseman whose career was derailed by concussion symptoms, is retiring after 1,603 hits and 247 home runs in 14 major league seasons. The Twins confirmed Morneau's retirement Monday. They scheduled a news conference with Morneau and team officials for Wednesday.Morneau, 36, of New Westwinster, B.C., didn't play in 2017. He appeared in 58 games for the Chicago White Sox in 2016.After the Twins drafted him in 1999, Morneau became a four-time all-star.

Now that retirement is approaching, how can you create a regular stream of income from your savings to help pay your bills? Jim plans to retire at the end of the year, and Barbara wants to continue working to earn income , but plans to shift to a part-time teaching schedule.

The idea was to demonstrate that for retirees or near retirees, it does matter how the market performs during their first few years or early stage of retirement . This portfolio earns 6% income in dividends & distributions If we were to withdraw the income monthly , the results would not be much different.

The bottom line

Retirees can slowly build a portfolio of dividend stocks that’s good enough to produce steady cash flows when they need them the most. Such a portfolio is important to avoid depleting your retirement funds and enjoy your golden years without financial worries.

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B.C. consumers fearful of not being able to pay bills as interest rates expected to rise, says poll .
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