Not sure how to make a retirement plan? Read on…
Latest News
The best free personal finance and investing courses in Canada Nov 29th
Financial literacy is an essential life skill. Whether you want to budget, saving, invest or plan for retirement, understanding how to manage money can help you achieve financial stability. Fortunately, there are many free courses that can help Canadians develop greater financial literacy. Below, fi.... More »
Can you move income back and forth between spouses? Aug 22nd
Ask MoneySense
I have an investment property (condo) in my name. I would like to sell it and [have the proceeds] paid out half to me and half to my spouse. The plan is to make the maximum RRSP contribution for both of us to minimize the capital gain.
Is that plan OK, legal, and wise?
–Zlatko.... More »
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 »
What is the Canada Pension Plan death benefit? + MORE Sep 26th
Ask MoneySense
Your recent article is the first time I have seen reference to a CPP death benefit of $2,500. Can you explain it, please?
—Sam
The primary purpose of the Canada Pension Plan (CPP) is to pay a retirement pension to contributors. Employers as well as employed and self-employed .... More »
Single, no pension? Here’s how to plan for retirement in Canada
– moneysense.ca
Being single in retirement has some financial obstacles. Some people are single as they enter retirement. Others become single due to divorce or death prior to or after retiring. Here are some considerations for planning your retirement as a singleton, especially if you have no defined benefit (DB) pension.
Cost of living as a single person in Canada
One third of Canadians struggle to plan for retirement and 75% of people say their cost of living is negatively impacting their retirement savings, according to a Sun Life survey.
What does this mean for singles? You know it doesn’t cost twice as much to live with another person, because there are fixed costs to running a household that apply to singles and couples.
According to Statistics Canada’s Survey of Household Spending, a one-person household had total expenditures of $49,661 in 2021. By comparison, couples without children had total expenditures of $91,121. This implies cost savings of about 17% for the second person in the household…
