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Latest News
How to plan for retirement when you have no pension Nov 22nd
In years past retirement planning was relatively easy. Fifty years ago, more than half of working Canadians, and an even higher proportion of men, could fall back on a corporate or union pension plan as their main source of income in retirement.
That’s no longer the case. Just 38% of paid work.... More »
“I took a break from Bay Street to co-write a musical”: Myron Genyk on his money values and getting financially cut off at 20 Jun 1st
Who is Myron Genyk? As the CEO and co-founder of Evermore Capital, a Canadian asset management company, he introduced target date exchange-traded funds (ETF) for those with retirement goals from 2025 to 2060. With over 15 years of Bay Street experience, Myron has worked at BlackRock Canada and Natio.... More »
What it’s like to work with a financial advisor + MORE Apr 6th
If you’re like many Canadians, you’re probably weighing working with a financial advisor. Maybe you’ve just gotten married, started a business, expanded your family or come into an inheritance, or you’re planning your financial future as you approach retirement.
A financial advisor can be.... More »
Tax write-offs that Canadians often get wrong Apr 18th
I come across frequent questions from taxpayers about expenses they think they can claim as a tax deduction or credit. Often, they cannot be claimed, or there are strict criteria that apply.
Safety deposit box
Back in the olden days, investors sometimes kept stock certificates in their safety .... More »
Should you buy back pension service from your employer? Jun 22nd
While defined benefit (DB) pensions are the Cadillac of retirement plans, they also entail a unique set of decisions. Buybacks are one of them.
There are a few ways to build up the value of your DB pension: by working to accumulate years of “pensionable service,” of course; by transferring servi.... More »
Mapping out a clear path for your investments at retirement
– moneysense.ca
Q. I retired last year at age 60 and am fortunate to have defined benefit pension, which I can live off comfortably.
I have accumulated some savings, which I am now looking to invest more productively. My risk tolerance is on the low end—a 2 out of 5 based on an online survey I completed. My goal is to grow my assets “safely” and occasionally use some of the money to travel, purchase a new car and to maintain a good emergency fund.
My current asset mix includes:
RRSP – $115,000
Stocks – $15,000
GIC – $105,000
TFSA – $60,000
Cash – $362,000
I have been reading a lot of material to better understand investment options available to me but, honestly, I feel overwhelmed. I am working with a financial advisor at my local bank, but he deals mainly with mutual funds, which I understand are expensive and have not performed well versus other options. I met with a private consulting firm but didn’t feel comfortable when the manger could not explain clearly what his fees were and how he would be paid…
I have accumulated some savings, which I am now looking to invest more productively. My risk tolerance is on the low end—a 2 out of 5 based on an online survey I completed. My goal is to grow my assets “safely” and occasionally use some of the money to travel, purchase a new car and to maintain a good emergency fund.
My current asset mix includes:
RRSP – $115,000
Stocks – $15,000
GIC – $105,000
TFSA – $60,000
Cash – $362,000
I have been reading a lot of material to better understand investment options available to me but, honestly, I feel overwhelmed. I am working with a financial advisor at my local bank, but he deals mainly with mutual funds, which I understand are expensive and have not performed well versus other options. I met with a private consulting firm but didn’t feel comfortable when the manger could not explain clearly what his fees were and how he would be paid…
