How to go about securing the best Retirement Plan in Canada.
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How to double your CPP income Apr 25th
A series of academic papers being rolled out by the National Institute on Ageing (NIA) has added fuel to the oft-argued case for delaying benefits for the Canada Pension Plan (CPP) to the latest possible age: 70.
As I reported on my own site, when an introduction and ove.... More »
RRIF withdrawals: What should seniors with million-dollar portfolios do? Nov 16th
Ask MoneySense
I have invested well and now I am in my 80s. My RIF is almost $3 million and is going to attract heavy taxes. My other investments are about $2 million, some with capital gains which we are going to donate to charity.
Any suggestions on how to reduce the huge tax liability? Should .... More »
Should Pete sell mutual fund to pay down the mortgage? + MORE Mar 24th
Shutterstock
Q. I have $103,490 left on my mortgage and I pay $325 bi-weekly on it @2.89% fixed rate (mortgage is being renewed shortly). I have the ability to pay off up to 15% ($18,700) of the original mortgage annually in a lump sum without fees. Should I pull money out of my mutual funds (averag.... More »
CREA wants parents to assist children with home purchase with their RRSPs + MORE Dec 2nd
VANCOUVER _ The federal government should allow parents who want to help their offspring with the purchase of a home to tap into their retirement savings, says The Canadian Real Estate Association, which also wants the maximum withdrawal limit bumped up by $10,000.
Extending the Home Buyers’ P.... More »
How retirees can continue living their best life when investments have taken a hit Apr 27th
Modest cuts without great sacrifice can go a long way toward ensuring your retirement lifestyle continues to keep you socially engaged, physically fit, well-nourished and mentally stimulated..... More »
Learning the budget basics
– moneysense.ca
(Photograph by Erik Putz)We invited our readers in January to take an active role by writing to us and explaining in a few sentences why they needed a personalized money makeover with a MoneySense Approved Financial Advisor. We got close to 400 letters and, in the end, chose two couples and a single person with financial concerns that anyone can relate to. Click here to see the lessons they learned.
Lindsay’s financial dilemma
Everyone struggles at some point with paying off debt and learning to save for the future. Lindsay Tithcotte, a 30-year-old engineering consultant from Kamloops, B.C., was no different. At the start of the year, she earned $71,000 annually, owned an affordable $150,000 condo and already had $46,000 of investments amassed in her RRSP and TFSA. Her goal? To achieve financial balance. At the time, Lindsay was saving $400 a month to her TFSA and $220 a month to her RRSP. But while saving for retirement was a key goal, she was also struggling with the idea of whether she should move to a larger, more expensive two-bedroom condo that would allow her to have a dog and a garden…
Union pans Wall’s idea of wage cuts, layoffs to deal with Saskatchewan deficit
– canadianbusiness.com
REGINA — The leader of a union that represents health-care and education workers says wage rollbacks and layoffs will not cure Saskatchewan’s ailing economy.
In media interviews Premier Brad Wall has suggested that public sector workers may be be asked to take less to help tackle the province’s $1 billion deficit.
Barbara Cape, president of SEIU-West, says Wall’s comments show a lack of good faith and deflect responsibility away from the government’s performance in managing the province.
She says the union’s 13,000 members didn’t benefit from the economic boom and shouldn’t be asked to make up the government’s budget shortfall.
The union’s members include people who work in health care, education, municipalities, community-based organizations, retirement homes and other sectors.
Cape says public services and workers are at least as valuable to Saskatchewan as oil and gas companies.
“Threats and austerity measures don’t work for the economy — they cripple it,” Cape said Thursday in a release…
In media interviews Premier Brad Wall has suggested that public sector workers may be be asked to take less to help tackle the province’s $1 billion deficit.
Barbara Cape, president of SEIU-West, says Wall’s comments show a lack of good faith and deflect responsibility away from the government’s performance in managing the province.
She says the union’s 13,000 members didn’t benefit from the economic boom and shouldn’t be asked to make up the government’s budget shortfall.
The union’s members include people who work in health care, education, municipalities, community-based organizations, retirement homes and other sectors.
Cape says public services and workers are at least as valuable to Saskatchewan as oil and gas companies.
“Threats and austerity measures don’t work for the economy — they cripple it,” Cape said Thursday in a release…
