Retirement planning getting you down? There are always smart ways to plan the financial aspects of your retirement.
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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
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EQ Bank
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Stock news for investors: Fourth-quarter earnings roll in from Canada’s big banks Dec 6th
Here’s a round-up of news for Canadian investors this week.
Scotiabank
National Bank
RBC
CIBC
BMO
TD
Featured RRSP Accounts
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EQ Bank
Build your retirement savi.... More »
Should I draw down my RRIF to avoid estate taxes? + MORE Apr 25th
Ask MoneySense
Is it a good idea to withdraw more money monthly than one needs from one’s RRIF? What about beginning a regularly automated transfer of this extra money to one’s non-registered investments so that there is less money in the RRIF account upon death? As a result, the estate will be .... More »
Stock news for investors: Mixed Q4 results with big profit gains for Enbridge, Nutrien, and Cenovus + MORE Feb 21st
Here’s a round-up of news for Canadian investors this week.
Enbridge
Nutrien
Teck Resources
Canadian Tire
MTY Food Group
Cenovus Energy
Featured RRSP Accounts
featured
EQ Bank
.... 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 »
Self-employed with no pension
– moneysense.ca
The year 1975 was the high water mark for bell bottoms, soul music and workplace pensions. Back then, around half of Canadian workers had some sort of pension plan through their employers to save for retirement. These days, just under 40%. For the roughly 2.6 million Canadians who work for themselves, that number is effectively zero.
It doesn’t matter whether you own a restaurant, hustle as a freelance designer or work as a day labourer on a landscaping crew—you cannot depend on a pension to support you in your golden years. Unless you have significant real estate or investment income, your business will need to fund nearly every cent of your retirement. So, how do you do it?
Thuy Lam, a senior financial planner and money coach with Objective Financial Partners, works with both sole proprietors and employers with staff or contractors on their payroll. Saving for retirement as a self-employed person is possible, she says, but it requires both discipline and creativity…
