Not sure how to make a retirement plan? Read on…
Latest News
Rich at any age: In your 30s + MORE Jul 2nd
It’s probably no coincidence that the iconic rock song “Under Pressure” was recorded when all members of the band Queen were still in their 30s. Because financially speaking, that’s precisely what this decade feels like when you suddenly find yourself juggling the responsibilities of buying .... More »
Should you hold gold in a RRIF? + MORE Aug 9th
Ask MoneySense
I have a RRIF (registered retirement income fund) and I am looking to shift it to gold. I am 65 years old. Is this safe and does this make sense?
—Audrey
Investing in gold for retirement in Canada
Gold prices have surged recently, rising 26% over the past year. Silver has .... More »
Financial hardship withdrawal exceptions and increasing income in retirement + MORE Apr 4th
Ask MoneySense
I am in B.C., Canada. I moved my LIRA into a LIF two years ago. I have taken the maximum annual withdrawals for each year. I thought it’d be smart to start taking it. How can I get more out of it? I need the funds to help deal with bill payments. All my monthly i.... More »
The 60/40 portfolio: A phoenix or a dud for retirees? + MORE Oct 26th
For Canadian investors, one of the biggest shocks of 2022 is how poorly balanced mutual funds, exchange-traded funds (ETFs) and portfolios have performed. Investors with funds based on the classic pension fund asset allocation of 60% in stocks and 40% in bonds have been bewildered to experience loss.... More »
How business owners should time CPP and OAS + MORE Apr 29th
Q: I retired recently, having just turned 65 years of age. I have not applied for CPP or OAS as yet because I had sufficient income in 2016 and did not need the additional income.
I do not have a private pension, but I do have the ability to draw dividends from a holding company which I own.
I do .... More »
Canadians are living longer than ever before. Most of us would consider that good news. But longer lives could pose new funding risks for many pension plans and their members.
Balancing financial priorities as parents
– moneysense.ca
Remember the line in Spiderman where Aunt May says, “You do too much…you’re not Superman, you know?”
Some parents think they’re Superman. Determined to set their children off on the right foot, they commit buckets of money to helping them achieve their goals. From private schools to smartphones, laptop computers and post-secondary education, even home down payments and on-going financial support, parents will dig deep to buffer their young’uns. Hey, I’m all for meeting your responsibilities to your children. After all, they didn’t ask to be born (or so I’ve been told). But some parents take “helping the kids” a tad too far.
When it comes to using your financial resources smartly, one of the trickiest aspects to master is balancing priorities. You want to provide a great place for your family to live. You want to create opportunities for your kids to have mind-expanding experiences. You want to plan for the future.
Planning for the future includes saving for school, getting the mortgage paid off, having some money set aside for retirement…
Some parents think they’re Superman. Determined to set their children off on the right foot, they commit buckets of money to helping them achieve their goals. From private schools to smartphones, laptop computers and post-secondary education, even home down payments and on-going financial support, parents will dig deep to buffer their young’uns. Hey, I’m all for meeting your responsibilities to your children. After all, they didn’t ask to be born (or so I’ve been told). But some parents take “helping the kids” a tad too far.
When it comes to using your financial resources smartly, one of the trickiest aspects to master is balancing priorities. You want to provide a great place for your family to live. You want to create opportunities for your kids to have mind-expanding experiences. You want to plan for the future.
Planning for the future includes saving for school, getting the mortgage paid off, having some money set aside for retirement…
Couple in 40s, see early retirement ahead
– thestar.com
Monday Makeover looks at a couple close to mortgage-free and 14 years from retiring, thanks to some prudent moves and good fortune.Mortgage news
– moneysense.ca
The CHMC is limiting guarantees it offers banks and other lenders on mortgage-backed securities which could in turn lead banks to raise interest rates on residential mortgages.
It’s official. Actuaries are now using updated tables that show we’re living roughly two years longer to calculate pension liabilities, says Towers Watson. So what does this mean for savers and investors? As life expectancy increases, employers will need to cover higher numbers of pensioners for longer periods of time, increasing pension liabilities and requiring larger pension contributions which could affect balance sheets fairly quickly. It also means workers with a defined-contribution plan could have to save more or delay retirement.
New time restrictions, fees and baggage requirements….Air Canada’s check-in crackdown needs fixing, writes Peter Nowak for Canadian Business.
It’s official. Actuaries are now using updated tables that show we’re living roughly two years longer to calculate pension liabilities, says Towers Watson. So what does this mean for savers and investors? As life expectancy increases, employers will need to cover higher numbers of pensioners for longer periods of time, increasing pension liabilities and requiring larger pension contributions which could affect balance sheets fairly quickly. It also means workers with a defined-contribution plan could have to save more or delay retirement.
New time restrictions, fees and baggage requirements….Air Canada’s check-in crackdown needs fixing, writes Peter Nowak for Canadian Business.
