Some wild speculation on Donald Trump’s VP + MORE Jun 23rd

TORONTO – A new report from realtor Royal LePage says members of so-called Generation X are buying twice as many cottages as Baby Boomers.
The report says retirement planning and vacationing are among the reasons most often cited by those looking to purchase recreational properties.
Royal LePage says the typical cottage buyer is a couple with children, most likely in the Generation X demographic, which the report defines as those aged 36 to 51.
The report defines Baby Boomers as those between 52 and 70.
Now is a great time to buy a cottage »
Its findings are based on a national survey of Royal LePage recreational real estate experts.
The report says foreign buyers — predominantly from the United States — make up 10 per cent or less of Canada’s recreational property market.
“We found it interesting that a majority of respondents identified retirement as a driving factor for a recreational property purchase consideration, but Gen Xers, still decades from retirement, were identified as the typical buyer in the current market,” Phil Soper, president and CEO of Royal LePage, said in a statement…

This is the fourth post of Jonathan Chevreau’s new column, Retired Money, which will explore smart ways to draw down income in retirement and semi-retirement. 
Just how tough is it for modern retirees to generate a liveable income solely from fixed-income investments? According to BMO Asset Management, 20 years ago a 65-year old wishing to generate $50,000 a year from a bond-heavy portfolio needed almost $1 million. That assumes a “vanilla” portfolio two thirds in bonds and a third in stocks. At a 5.3% yield, it required a portfolio worth $946,846*, according to Robert Armstrong, vice president and Head of Managed Solutions at BMO.
Today, with a similar portfolio generating a yield of about 2.3%, it takes a portfolio of $2,183,271* to generate the same $50,000 in investment income, Armstrong calculates.
There was a time when it was relatively easy to manage clients’ bond books, Armstrong said in a recent presentation titled “Successfully Investing in Retirement.” Fixed-income investors enjoyed a 30-year-plus bull market as interest rates fell steadily between 1980 and 2016…

Donald Trump, a man so orange he was once mistaken by a pilot for an air sock, is deciding on a vice-presidential candidate. Let’s take a closer look at the favourites:
Chris Christie. The New Jersey governor has demonstrated an old-school, Smithers-grade sycophancy—one defined by unblinking obedience and a firm belief that the American people aren’t booing, they’re saying Troooo-ump. Added bonus: As a backdrop for speeches, he is cheaper than flags.
Newt Gingrich. Between them, Newt and Donald have been wed six times, reinforcing the view among Republican elites that marriage is a sacred bond between one man and one woman at a time. Gingrich would bring to the ticket a wealth of experience as both a congressman and a wingman.
Bob Corker. The U.S. senator serves as chairman of the powerful foreign relations committee, which means he probably knows the guy in Mexico who signs all the wall-building cheques.
Mary Fallin. The governor of Oklahoma is a staunch conservative who served two terms on Capitol Hill…

Expanding the working income tax benefit to offset increased Canada Pension Plan premiums for low-income workers will cost the federal government $250 million per year, Finance Canada estimates.
Besides the CPP premium and benefit changes, the federal government offered to increase the tax benefit for the working poor as it sought to bring reluctant provinces onside with the deal reached this week in Vancouver.
Besides confirming the cost of the tax benefit, the federal government has also released more details on the timeline for the CPP premium changes. From 2019-23, employee and employer premiums will each increase to 5.95 per cent from 4.95 per cent on income below the yearly maximum pensionable earnings threshold, which is $54,900 this year.
Read: ‘Exciting time for retirement’ as CPP deal signals premium boost to 5.95%
In 2019, the contribution rate will increase to 5.1 per cent for both employees and employers; in 2020, it will rise to 5.25 per cent; in 2021, the premium will be 5…

Q: Is there a best month of the year to retire?
—Dory Urbano, Vancouver
A: It really depends on how you define “best.”  If you follow astrology, a consultation with the stars will tell you what’s best. If you play golf, I’d say April is best so you can plan your summer tee times unencumbered. But from a financial perspective, there isn’t really a best time to retire. That said, there are still a few factors to take into consideration. For instance, you’ll want to make sure you work long enough to qualify for the richest pension possible. And if you have a bonus or retirement allowance you might want to consider scheduling your retirement in December so that the bonus pays out in the following tax year, when you have no salary income. Whichever month you choose, I hope you have the best retirement ever.
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