King can afford this luxury because he owns a paid-off home and has a seven-figure investment portfolio that’s generating enough income for himself, his wife Debbie and their 19-year-old daughter Sarah to live quite comfortably. The family lived in a modest one-and-a-half storey home, rode used bicycles and enjoyed camping trips in second-hand tents. King’s parents passed away within a few months of each other about five years ago, and he was the executor of their wills. Building a million-dollar nest egg is a dream for many Canadians, though most probably put it in the same category as winning the lottery or playing in the NHL. It’s a cliche to say it’s never too late to start saving, but the truth is it’s hard to build real wealth in the last decade before your retirement date. The surprising truth is that if you start at age 25 by saving just $276 a month (or 10% of your net income on a $40,000 salary), increase your contribution by 3% annually and earn a 6% return, you would hit $1 million by age 65 and you’d never need to kick in more than $750 a month. If you’re a salaried employee, set up automatic payroll deductions and join any savings program your workplace offers, especially if the employer matches at least part of your contribution. Buying a house can be a huge step toward financial independence: your retirement will feel more secure if you’re living in a paid-off home. Rob and Keisa Kuniecki also decided they wouldn’t let a huge home purchase imperil their financial goals. While a home—even one that strains your cash flow—can appreciate in value and help you build wealth, the same can’t be said for what’s parked in the driveway. Rob Kuniecki picked up a new Nissan Versa two years ago and he says it’s now worth less than half what be paid, even with just 40,000 kilometres on the odometer. Brown says a frugal lifestyle is often portrayed as a sacrifice—or worse, as being miserly. Everybody needs to have a few indulgences, Brown says, but you should look for ones that are affordable. Emily Brandon tells you how to get ready financially for retirement and to make your golden years the best they can be.
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The social security system income retirement based amount taxes pay system lifetime. Copyright © 2012 Rachael Edwards, All trademarks are the property of the respective trademark owners. If you want to see what really ages women before their time, youa€™ve only to look at the photograph of Carrie Fisher in yesterdaya€™s Mail.Shea€™s 55, just a year older than Barber, but if you were to put their photos side by side, youa€™d think she was the senior by a decade. If only more actresses were brave enough to follow her lead, we could put an end to the whole self-defeating cycle, and use the time and money saved to go out and have some fun.Our daughters need to see that, despite our wrinkles and our years, we still have energy and vitality.
No wonder William yearns for the quiet lifeLast week I remarked that William and Kate seemed middle-aged before their time. Junor reminds us also that Diana had never been properly mothered herself a€” her own mother left Earl Spencer after he beat her, and lost custody of her children in the process. The final episode of Homeland was heart-stopping, by far the best thing on television this year. Delicious way to get revengeThe American conglomerate Kraft took over Cadburya€™s two years ago, having promised that the factory at Keynsham would not be closed.Nine days later, they shut it down. Britaina€™s Got Talent is now trouncing The Voice, not just because its acts are far more entertaining but because of David Walliams, right, whoa€™s having the time of his life as a judge. Fill the baby gapIa€™m no particular fan of Mumsnet, but its founder Justine Roberts is right when she says that mothers often forget therea€™s life beyond parenting.Shea€™s about to launch the Mumsnet Academy, offering classes in everything from how to start a business to how to make pasta. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline.
An extensive study into the effect of digitalization on the music industry in Norway has shed an interesting light on the position of artists today, compared to 1999. Every other month a new study addressing the link between music piracy and music revenues surfaces, but only a few really stand out. In their thesis, the students take a detailed look at the different revenue streams of the music industry between 1999 and 2009. In the same period when the overall revenues of the industry grew by only 4%, the revenue for artists alone more than doubled with an increase of 114%. Some of the growth can be attributed to the fact that the number of artists increased by 28% in the same time period. Aside from looking at the reported revenue, the researchers also polled the artists themselves to find out what their income sources are. In conclusion, the study refutes some of the most common misconceptions about the music industry in the digital age. After some 30 years in sales and customer operations in the office equipment, telecom and energy sectors, King had become used to periods of unemployment.


King had some high-income years at the peak of his career, but his wealth is primarily the result of a lifelong commitment to frugality and saving, which he learned from his parents.
When he went through their financial records he discovered his parents had more than $1 million in savings.
Many believe that the only way to amass a portfolio that size is to have an enormous income, receive an inheritance, or sell your start-up to Google.
Most middle-class millionaires developed good habits when they were in their twenties and thirties, even if they didn’t have large investment portfolios until much later. On the other hand, if you wait until age 45, your monthly contributions would need to start at more than $1,300. Although they both work in Brampton they bought a home in less-expensive Cambridge, about 70 kilometres to the west, and commute about an hour each way.
Instead of choosing a five-year term, he suggests renewing every three or four years, and knocking a year off the total amortization period each time. Most people need a vehicle, maybe two, and if you can afford a luxury ride without compromising your long-term goals, then go for it. Rather, like Rick King, they want to enjoy the freedom to see a job loss at age 57 as an opportunity instead of a catastrophe.
It’s a decision to spend your money thoughtfully on things that give you lasting enjoyment. For example, rather than going a restaurant, he and his wife often have a home-cooked meal and then go for dessert and coffee at Starbucks. She looks terrific just as she is, with a seductively knowing expression that hints at intelligence, mischief and a fascinating life story.
Ia€™m all for good manners, but the examples cited a€” one woman being told what she tried on made her look like a frump, and another taking umbrage at the suggestion she ought to find something a€?that covers you up morea€™ a€” dona€™t seem that objectionable to me. Now Ia€™ve read the extracts from Penny Junora€™s new biography of William, which were serialised in the Mail this week, I understand why. Diana was in need of constant emotional reassurance when she married Prince Charles, who, as the sensitive son of an authoritarian father and a disciplined, somewhat distant mother, was himself deeply needy.A  It was left to William to push tissues under the bathroom door when Diana locked herself in to weep. When you have a relationship with someone, they become only a man.a€™ This week, for the first time in their relationship, her husband Nicolas Sarkozy is no longer one of the worlda€™s most influential politicians. If you missed it, I implore you to buy the box set in order to catch up in time for series two in the autumn. So good luck to Felicity Loudon, the Cadbury family member who has sold her home for A?30a€‰million in order to start her own brand of chocolate, using all-British ingredients except cocoa beans.
Walliamsa€™s genius is that hea€™s never mean to the acts but is positively cruel with his baiting of Simon Cowell. At A?100 for a full-day course, the pricing seems a little steep to me, but the principle is sound. While the music industry often talks about artists being on the brink of bankruptcy due to illicit file-sharing, the study found that the number of artists as well as their average income has seen a major increase in the last decade. One of the most elaborate and complete studies conducted in recent times is the master thesis of Norwegian School of Management students Anders S?rbo and Richard Bjerk?e. After adjusting this figure for inflation this comes down to a 4% increase in revenues for the music industry in this time period.
After an inflation adjustment, artist revenue went up from 255 million in 1999 to 545 million kronor in 2009.
However, per artist the yearly income still saw a 66% increase from 80,000 to 133,000 kronor between 1999 and 2009. Here, it was found that record sales have never been a large part of the annual revenue of artists. 37% of Norwegian artists made more than 50% of their income from live performances in 2009, up from 25% in 1999.
Record labels may report a dip in their income from record sales, but more money is going to artists at the same time. Over the years he’s received seven severance packages and has spent two year-long periods without a job.
And indeed, for some Canadians, it won’t be possible, because of low income, poor health, or personal or family issues. Klasios has long been interested in finance and he’s just started his first year in McMaster University’s bachelor of commerce program, which he hopes to complete without taking on significant debt. In his new book Wealthing Like Rabbits, Robert Brown suggests you start by maxing out your RRSP every year.
Indeed, buying a home that swallows most of your take-home pay is perhaps the biggest obstacle to savings. But if the payment on your leased BMW is higher than your RRSP contribution, you’ve got a problem. People who are unable to save are often at a loss to explain where all their money goes, a sure sign that much of it is being wasted on purchases that don’t give them any real pleasure.
Cook a nice meal together, polish off a bottle of wine, get romantic, and sleep in the next morning,” he writes.
In certain parts of London, the faces ofA  50-something women are now so stretched you could practically trampoline your way along them from Chelsea to Mayfair.They rarely admit theya€™ve succumbed to the siren call of cosmetic surgery simply because they want to look younger. Nor does her lack of cosmetic surgery seem to affect her career, as shea€™s about to appear as an alluring QC in the second series of the BBC1 primetime courtroom drama, Silk.


The simple truth is that all you have to do to look younger is lose a bit of weight, do some exercise and colour your hair. Surely an honest opinion is better than some simpering assistant with pound signs in her eyes. Like most of us, I suspect, Ia€™ve often thought how hard it must have been for him and Harry to have recovered from the trauma of their mothera€™s death. He also had to cope with her Panorama appearance, which he watched with horror in his housemastera€™s study at Eton, followed by his fathera€™s televised confession of adultery to Jonathan Dimbleby.Hea€™s had enough drama to last him a lifetime.
Therea€™s nothing more boring than listening to someone drone on about their childrenA  a€” and no one lonelier than the mother with empty hours to fill once her youngest goes to secondary school. Admittedly, this is not much of a growth, but things get more interesting when the research zooms in on artist revenue.
In conclusion, one could say that artists are far better off now than they were before the digitization of music started. In 1999, 70% of the artists made less than 9% of their total income from record sales, and in 2009 this went down to 50%. That said, it has to be noted that only a few artists make a full living off their music, as most have other jobs aside.
It is true that the revenues from record sales are dwindling, but that can be just as easily attributed to iTunes as The Pirate Bay.
But when he received his latest buyout in November, King decided to leave the corporate world behind—at least for now.
Most Canadians don’t come anywhere close to doing that, but no one said this would be easy. The 36-year-old mother of two in Cambridge, Ont., takes advantage of her employer’s pension plan, group RRSP and a stock-purchase plan that allows her to have 5% of her salary matched by her employer. The couple is making accelerated weekly payments and they’ve kept those payments the same even when their variable mortgage rate has gone down.
When you renew you would have 22 years left, but Brown suggests you renew with another three-year term and a 21-year amortization. Blake Klasios has discovered that one of the best ways to spend your money thoughtfully is to keep a record of all your purchases. And yet, like so many other women her age, she feels so unhappy about ageing that shea€™d rather have an operation a€” involving a general anaesthetic, and a scalpel a€” than continue to make the best of what shea€™s got. All it takes is the courage to start a€” because once youa€™ve begun, you wona€™t want to stop.I give thanks for the slipped disc I suffered some years ago, because it prompted me to start doing pilates. Particularly, if shea€™s assuring you that the dress youa€™ve just fought your way into suits you perfectly, when in fact you resemble a cottage loaf a€” only less appetising and a lot more sweaty.
What I never considered was that theya€™d endured another trauma, too a€” their parentsa€™ rows and bitter divorce.
Rather than continue the cycle, he wisely sought out the most grounded girl he could find, from a rock-solid family. I can think of few things less quirky than Cadburya€™s Dairy Milk.People bought it because it tasted good. His mother raised four kids, worked part-time at United Cigar Stores and managed the household finances.
But if you earn an above-average salary and you’re truly committed, reaching retirement age with a million-dollar portfolio probably isn’t out of reach.
The RRSP contribution limit is 18% of your earned income, so if you’re pulling in $50,000 a year that works out to $750 a month—or roughly 150 lattes.
That commitment allows her to automatically save for retirement while also carrying a mortgage on the home she shares with her husband Rob and their two children, aged five and 18 months. When you renew again three years later, you use a 17-year amortization instead of 18, and so on. That also keeps your insurance costs low.” Rob now drives a 10-year-old GMC Envoy that he paid just $6,000 for.
Before long shea€™ll be another unfeasibly young-looking celebrity who makes the rest of us feel wea€™re ageing too fast. The form I practise, which is quite dynamic and involves weights, has transformed not just my body but my life.
He likes nothing more than to spend time with the Middletons, doing things such as eating together in the kitchen, an activity the rest of us take for granted, but which he never experienced.Kate, meanwhile, looks after his every need, from running him a bath when he comes home to cooking his favourite meals. While the rest of us long for excitement, he yearns to be as boringly ordinary as possible. Most important of all, I hope Ia€™m demonstrating to my 16-year-old daughter that age is nothing to be feared. Youa€™ve only to look at Kristin Scott Thomas, Vanessa Redgrave, Judi Dench and Maggie Smith to see that ita€™s entirely possible to age naturally and still be both attractive and successful.
As 66-year-old Charlotte Rampling, whoa€™s steadfastly refused to have so much as an age spot removed, let alone a wrinkle, put it recently: a€?You do have to look at yourself in the mirror every day.



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