Well, in Canada anyway. But good advice knows no borders!!

November is Financial Literacy Month, and that means a deluge of tips from banks, consumer groups and financial industry professional groups and regulators. The Globe and Mail

True enough, but what about regular folks? The Globe and Mail financial editor received some fan mail from an ordinary dude, a retiree who has written a letter of financial advice to his grown kids. You really have to read the whole thing, but here are the bullets…

• Spread the pain of saving and pleasure of spending over your whole life.
• Get out of debt and stay out of debt.
• Come up with a realistic cost of retirement.
• Leave your home out of your retirement income plan.
• Hire an investment planner who does not sell any investment products of any kind.
• Don’t plan for inheritance, lottery winnings or other windfalls to fund your retirement.
• Diversify.
• Plan to be in your investments for 50 years or more.
• Don’t try to time investment ups and downs when buying and selling.
• Don’t assume everything will work out on its own.
• Don’t gamble with individual stocks. Buy whole stock markets.
• Don’t worry if markets crash.

Like I said, MUCH more detail at the original piece, so check it out. So what do you think? Some good advice? Anything you’d like to add? Head over to the MindField Online Facebook page and let us know!