In Your Corner: My house is my retirement plan. Am I doomed? + MORE Aug 24th

There are plenty of retirement plan options in Canada! Stay on top of the best plans right here.
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 retirement savings plan

Stock news: Cogeco takes U.S. telecom hit as Electrovaya rallies Jul 18th

Here’s a round-up of news for Canadian investors this week. Cogeco Electrovaya Blue Ant Media Loblaw-EQB Featured RRSP Accounts featured EQ Bank Build your retirement saving.... More »

Should you collect CPP and OAS while working in your 60s? Dec 7th

I have lived in Canada for 24 years and I’m 65 years old now. I am still working at a company making a $78,000 salary. Since my health condition is OK, I am going to continue to work for two to four years. My question is: In my situation, it is better for me to apply for OAS and CPP now or delay t.... More »

How to be a better investor Mar 1st

For both beginner and experienced investors, focusing on a few basic guidelines can make the difference between good results and great ones. Whether you’re investing in a taxable account or a tax-sheltered account like a registered retirement savings plan (RRSP), doubling down on the basics can he.... More »
 pension

Stock news for investors: Canadian Natural boosts quarterly dividend after massive Q4 profit Mar 7th

Here’s a round-up of news for Canadian investors this week. Canadian Natural Resources Pet Valu George Weston Canada Packers Featured RRSP Accounts featured EQ Bank Build yo.... More »
retirement

Stock news for investors: Goeasy shares plunge nearly 60% after lender suspends dividend + MORE Mar 14th

Here’s a round-up of news for Canadian investors this week. Goeasy Algoma Steel Transat RBC MDA Space Empire Featured RRSP Accounts featured EQ Bank Build your retirem.... More »
In Your Corner: My house is my retirement plan. Am I doomed?Owning a home is a great investment but we all should have other investments socked away for retirement — ideally inside a Registered Retirement Savings Plan (RRSP), says this week’s expert.

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If you find yourself in debt, you’re not alone: Nearly three-quarters of Canadians have some type of outstanding debt, according to Statistics Canada. Not only that, but COVID may have made matters worse: According to the MNP Consumer Debt Index, 30% of Canadians surveyed say the pandemic increased the debt burden on either themselves or their family.
Whether you’re juggling credit card balances, have a hefty car loan, line of credit or student loan—or a combination of multiple sources—managing your debt, and even paying it off, is possible. Here are some strategies to help you get out of the red faster.
1. Set a goal
If you’re serious about saving you need to set a goal so you know what you’re saving for. Whether it’s a trip to Japan you hope to take in a few months or saving for retirement, having a very specific goal will help you stay motivated and on track.
2. Track your dollars
The best way to get on track to saving is to spend less than you earn. Tracking your spending—either through a daily journal or an app—can help you do this…

Continue Reading On moneysense.ca »

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