Wealth Management Report - Living Your Dreams

Popular guidelines about how to save, invest and spend need to be updated and personalized to ensure you'll never run out of money.

The legendary investor is known for his frugality.

For people between the ages of 25 and 34, the average retirement account balance is $42,640 and the median is $16,255. For those between the ages of 35 and 44, the average balance is $103,552, and the median is $39,958.

What you can learn from millionaire anxiety.

Jamie Golombek: CRA increased real-estate audits by 2,100 from the prior year, leading to $849 million in taxes and penalties

Many novice investors fall into these traps.

If you hold investment accounts with no financial strategy tying them together, or haven't modeled scenarios to make sure your savings will go the distance, then it's likely your plan is inefficient.

Don’t think about care costs as a single number — plan for ranges that evolve over time

Plus, adult children are getting in the way of downsizing in retirement