Not sure how to make a retirement plan? Read on…
Latest News
Planning to cash in on your home to help fund retirement? Here’s how to do it right + MORE Dec 14th
Elizabeth and Charles have a home worth about $1.3 million. They’re considering selling and downsizing to a smaller unit to bulk up retirement savings. We ask experts for advice on the right move..... More »
Stock news for investors: Groupe Dynamite and Empire Co. release earnings + MORE Jun 20th
Here’s a round-up of news for Canadian investors this week.
Groupe Dynamite
Empire Co.
Featured RRSP Accounts
featured
EQ Bank
Build your retirement savings with 2.00% interes.... More »
What retirees need to know about tax brackets for 2025 + MORE Dec 20th
In our working lives and in our post-work retirement or semi-retirement phases, taxes are one of if not the single biggest expense. This hits home with the annual tax-filing deadline in April, but the time to start thinking about the yearly ordeal is before year-end.
The complexity of this task i.... 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 »
Should you withdraw from non-registered or TFSA investments in retirement? Mar 8th
Ask MoneySense
I have stocks in my TFSA as well as some that are non-registered. I am at the point in my life (retired) now that I’d like to begin selling them and using the money. Do I sell from the TFSA account or just from the non-registered portfolio?—Catherine
TFSA versus non-registered.... More »
How does age affect life insurance rates?
– moneysense.ca
Most of us go through life assuming we’ll reach a ripe old age—and that’s fair, because most of us do. But if you have dependents, it’s wise to protect them from financial fallout in the unlikely event of your death, even if you’re still young and healthy, by getting life insurance. Your age is a pretty big factor when it comes to the type of life insurance you should get and how much you’ll pay for it. Read on for some insight on this, and a few other factors that may affect your premiums.
How old you are affects life insurance premiums
“People should think about life insurance when they think they need it the least,” says Natalie Trimble, financial security advisor and investment representative for Freedom 55 Financial, a division of Canada Life. “The longer one waits to get it, the higher the chances that they may experience a health issue. With health issues or lifestyle changes, the possibility of increased costs or maybe even a rating [where you are approved, but with higher premiums] is a direct result…
How old you are affects life insurance premiums
“People should think about life insurance when they think they need it the least,” says Natalie Trimble, financial security advisor and investment representative for Freedom 55 Financial, a division of Canada Life. “The longer one waits to get it, the higher the chances that they may experience a health issue. With health issues or lifestyle changes, the possibility of increased costs or maybe even a rating [where you are approved, but with higher premiums] is a direct result…
Reality-testing your financial plan
– moneysense.ca
Q. I am contemplating changing financial planners and I just met with one who seemed very impressive. Within about three hours he had everything laid out for me: the investments I should purchase, the use of life insurance, delaying CPP to 70 and more. Still, I would like to get a second opinion before I make my move.
I am 63 years old and single, living in Ontario. My house is worth $1,200,000 and my investments are also worth $1,200,000. I have a small indexed pension of $17,000 and I expect full CPP. What do you think?
–John
A. Many years ago, part of my training in the insurance business was to find a person’s hot button and push it! Is there any chance the planner was throwing out ideas in a similar way to hook you? There is nothing wrong with this, because before a planner can help you, you have to be aware there is something to be solved. (That said, I also think a big piece was missing in your conversation, which I will share with you later.)
Let’s have some fun by going through the common advice for people in your situation…
I am 63 years old and single, living in Ontario. My house is worth $1,200,000 and my investments are also worth $1,200,000. I have a small indexed pension of $17,000 and I expect full CPP. What do you think?
–John
A. Many years ago, part of my training in the insurance business was to find a person’s hot button and push it! Is there any chance the planner was throwing out ideas in a similar way to hook you? There is nothing wrong with this, because before a planner can help you, you have to be aware there is something to be solved. (That said, I also think a big piece was missing in your conversation, which I will share with you later.)
Let’s have some fun by going through the common advice for people in your situation…
