Not sure how to make a retirement plan? Read on…
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DIY investing for busy people—the portfolio management tool you didn’t know you needed + MORE Jul 13th
If you’ve been on the fence about managing a self-directed brokerage account because you think DIY investing is too much of a time commitment, think again. While DIY investing certainly can be an all-consuming “hobby” filled with spreadsheets, calculations and trade activity, it doesn’t have.... More »
Université de Moncton: The new seniors on campus + MORE Feb 10th
Nursing student Danielle Theriault, left, works with a patient at the Université de Moncton’s Ecole de Science Infirmiere. (Photograph by Darren Calabrese)
Every September, university campuses spring back to life as students move into their dorms and classes get underwa.... More »
How to maximize your last-minute RRSP contribution + MORE Jan 26th
Mark your calendars: the deadline for Registered Retirement Savings Plan (RRSP) contributions for the 2020 tax year is March 1, 2021. But before you rush to deposit your money in a GIC or high-interest RRSP savings account at a local bank and call it a win, you should know there are other options th.... More »
Using RRSP money for a renovation + MORE Aug 19th
Q: My daughter and my husband bought a $400,000 property three years ago near Midland, Ont. My husband earns $59,000 annually and my daughter $16,000 (self-employed). They want to renovate the kitchen and eventually sell the home to make a profit on it. The mortgage is $319,000. My daughter wants .... More »
Why I’m taking OAS right at 65 + MORE Aug 19th
During the “Victory Lap” stage of life between full-time employment and traditional “no-nothing” retirement, a key strategy is deciding when to commence receipt of various streams of income.
This commonly occurs in one’s 60s. As you move from a salaried single stream of income to the “mu.... More »
Robo-advisor now offers group RRSPs
– moneysense.ca
Robo advisor (Getty / KTDesign-Science Photo)Robo-advisors have already advanced on the territory of traditional portfolio management by offering online, low-fee services that focus on ETFs portfolios. But now WealthBar, a robo-advisor based out of Vancouver, is leading the pack in offering group RRSPs.
Which robo-advisor is right for you? »
Now, companies have a choice. Stay with the group RRSP offered by insurance companies, which often come with higher fees, or opt for a low-fee plan maintained by WealthBar. According to a press release by the company, their group RRSP plans will cost less than 1% in fees, compared to the 2-3% charged for traditional plans. You don’t have to be in a large company to set one up, either; WealthBar says that a group RRSP can be set up by any organization with 10 or more employees.
Should I buy low-cost mutual funds or use a robo-advisor? »
The other advantage is that WealthBar offers a seamless transition from the group RRSP to a personal robo-advisor plan if an employee leaves or retires from a company…
OTTAWA – Finance Minister Bill Morneau says Manitoba has joined the other provinces and agreed to help strengthen the Canada Pension Plan.
The agreement in principle now includes every province except for Quebec.
Quebec has agreed to remain part of the discussions in recognition of the unique nature of the Quebec Pension Plan.
All have agreed to work towards confirming the approval of their respective governments by July 15.
The preliminary agreement reached by the country’s finance ministers on June 20 states that the CPP premium increases on workers and employers will start to be phased in over several years beginning on Jan. 1, 2019.
An average Canadian worker earning about $55,000 would pay an additional $7 a month in 2019, and that would increase to $34 a month by 2023.
If fully implemented, the maximum annual benefits will increase by about one third to $17,478.
When the finance ministers reached the agreement last month, Manitoba’s newly-elected government said it wanted to give the matter careful consideration…
The agreement in principle now includes every province except for Quebec.
Quebec has agreed to remain part of the discussions in recognition of the unique nature of the Quebec Pension Plan.
All have agreed to work towards confirming the approval of their respective governments by July 15.
The preliminary agreement reached by the country’s finance ministers on June 20 states that the CPP premium increases on workers and employers will start to be phased in over several years beginning on Jan. 1, 2019.
An average Canadian worker earning about $55,000 would pay an additional $7 a month in 2019, and that would increase to $34 a month by 2023.
If fully implemented, the maximum annual benefits will increase by about one third to $17,478.
When the finance ministers reached the agreement last month, Manitoba’s newly-elected government said it wanted to give the matter careful consideration…
The Manitoba government says it will sign on to a plan to revamp the Canada Pension Plan after all, provided that Ottawa remains open to some of the province’s own proposals for improving it.
Is it the right time to buy a house? Yes. If you have answers
– moneysense.ca
Housing market is tough to get into—prices are high, but interest rates are low, so how do you know if it’s the right time to buy?
The practical answer has little to do with mortgage rates or housing prices and everything to do with with where you see yourself in five to 10 years. Do you expect to be employed in the same company? Living in the same city? What does your path look like in the next five to 10 years. If you can answer this with some confidence, then you may be ready to buy.
Then you have to look at your budget. Look beyond what you can afford, as mortgage calculators don’t factor in RRSP or RESP or TFSA contributions. MoneySense contributor, Bruce Sellery, walks us through what to consider when considering a property purchase.
Ask Home Owner columnist Romana King your real estate question »
The practical answer has little to do with mortgage rates or housing prices and everything to do with with where you see yourself in five to 10 years. Do you expect to be employed in the same company? Living in the same city? What does your path look like in the next five to 10 years. If you can answer this with some confidence, then you may be ready to buy.
Then you have to look at your budget. Look beyond what you can afford, as mortgage calculators don’t factor in RRSP or RESP or TFSA contributions. MoneySense contributor, Bruce Sellery, walks us through what to consider when considering a property purchase.
Ask Home Owner columnist Romana King your real estate question »
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