Not sure how to make a retirement plan? Read on…
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Thinking of Early Retirement? What You Need to Know First + MORE Sep 4th
If you are thinking of early retirement, you may need to put aside more money for your “Golden Years.” Keep in mind that you will have a longer period where you will have to cover your basic fixed costs. You may also have higher lifestyle expenses from a few extra “leisure” y.... More »
Ontario loosening solvency requirements for defined benefit pensions + MORE May 20th
Ontario is changing rules on workplace defined benefit pensions, including considering them to be solvent when they are 85 per cent funded.
The provincial Liberal government announced today that it would introduce legislation in the fall to make that change and others that it says will help keep def.... More »
RRIF withdrawals: What should seniors with million-dollar portfolios do? Nov 16th
Ask MoneySense
I have invested well and now I am in my 80s. My RIF is almost $3 million and is going to attract heavy taxes. My other investments are about $2 million, some with capital gains which we are going to donate to charity.
Any suggestions on how to reduce the huge tax liability? Should .... More »
Canadian VCs bolstered by Wellington’s new fund + MORE Oct 1st
Wellington’s new $300-million fund is backed by pension plans and offers debt financing to its portfolio companies, unlike many other VC funds, which look for equity
.... More »
One caveat of the 4% withdrawal rule + MORE Jun 17th
Dieters experience a great deal of joy when they are able to tighten their belts an extra notch.
But financial belt tightening isn’t much fun. It’s something that came to mind when reading Andrew Hallam’s article called “Retirement Fortunes That You Can’t Control.”
He.... More »
Many companies in Canada and around the world are struggling to meet pension obligations because of the sustained period of low interest rates and choppy stock markets
Crush your mortgage
– moneysense.ca
It was a sun-drenched autumn afternoon in 2005 when Heidi Croot and her husband Phil Carey found themselves barreling down Highway 401 toward the picturesque lakeshore community of Port Hope, Ont. Armed with a picnic lunch, the couple was in a celebratory mood. finally, they were following through on a promise made to each other more than a decade ago: to pay off their mortgage early, free themselves from their well-paying but stressful corporate jobs in downtown Toronto and downsize to the countryside. Croot and Carey, then 47 and 59, had been living north of the city in the commuter town of Thornhill. They were tired of suburban sprawl, not to mention their daily two-plus-hour slog to and from work. Small, quiet Port Hope, some 100 km away from the gridlock and congestion of Toronto, would soon be their new home.
Croot and Carey paid off their 25-year mortgage in 2002, 10 years earlier than expected. With the freed-up income, they were finally in a position to focus solely on building up their retirement savings—and that’s exactly what they did, continuing on with their regular jobs for three years prior to moving to Port Hope…
Croot and Carey paid off their 25-year mortgage in 2002, 10 years earlier than expected. With the freed-up income, they were finally in a position to focus solely on building up their retirement savings—and that’s exactly what they did, continuing on with their regular jobs for three years prior to moving to Port Hope…
Older workers: At this company, average employee is 65
– thestar.com
Half of a Boston company’s workforce is part-time senior citizens, countering myths about value of older workers. No Freedom 55 here
