All about Retirement Planning in Canada. Learn the ins and outs and get the latest news.
Latest News
What’s my RRSP contribution limit for 2022? + MORE Dec 21st
This RRSP contribution room calculator will get you the numbers you need, but keep reading for a better understanding of RRSPs.
If you’re like many Canadians, you’re hoping you’ve paid enough tax in 2022 and may even be looking forward to a hefty tax refund. (The deadline for filing th.... More »
How to retire at 55 with $586,000 + MORE Jan 27th
Nathalie Ouelett, 54, works in the audit department of the Quebec government in Quebec City. She loves her job but says she has so much that she still wants to do in life that she’s going to hang up her hat from full-time work this July. “I have 177 sleeps to go,” says Nathalie, who laughs an.... More »
How are FIRE adherents making out? + MORE May 23rd
In the increasingly specialized world of financial blogging, there’s a subgenre of so-called “FIRE” experts, who expound on the acronym FIRE. FIRE stands for Financial Independence Retire Early. Some proponents are in their 40s or 50s and practising what they preach, having either reached fina.... More »
A low-fee portfolio for DIY investors + MORE Jul 15th
(Photo by Micah Bond)
The portfolio problem
Gino Marcone, 49, is a regional sales manager who has spent the last three years working with an advisor at his local Guelph, Ont. bank to build his retirement nest egg. He recently learned he’s paying 2% annually in management expense ratios (MER.... More »
When to consider extra RRIF withdrawals Apr 4th
I am in my 91st year and for my age, in reasonably good health. I drew down a significant extra sum in 2025 from my RRIF. Fortunately, due to some good earlier decisions, my RRIF remains with a very strong market value. I use this drawdown for two purposes: to reinvest in my non-registered accounts.... More »
Home expected to fund retirement for one-quarter of Canadians
– moneysense.ca
Nearly one-quarter of Canadians plan to tap their home as a primary source of income after they leave the workforce, according to the 2014 Sun Life Canadian Unretirement Index. The survey also found that more than half (56%) plan to work past the traditional retirement age of 65, most out of necessity.Still, the average expected retirement age fell to 66, the lowest level in the last four years of the survey’s existence (down from a high of age 69 in 2011).
“With people living longer and more Canadians expecting to retire sooner, it’s important to look at what savings you will need to be fully prepared and how having a financial plan can help protect against risks that can be magnified in retirement such as market shocks and health events,” Kevin Dougherty, president of Sun Life Financial Canada said in a press release.
Canadians on average expect approximately 10% of their retirement income to come from home equity, with another 30% to come from government plans, 27% from personal savings, 23% from employer pension plans, 5% from an inheritance and 6% from other sources…
More Canadians expect to work full-time in retirement
– thestar.com
Many think they will work in their mid-60s because they need the money: survey.How to supercharge your RRSP
– thestar.com
There’s a way to increase your RRSP contributions without leaving you any more out of pocket, even though you need a loan. Here’s how to do it.Denis Coderre's 100-day highlights – Montreal Gazette
– news.google.ca
Montreal GazetteDenis Coderre's 100-day highlightsMontreal GazetteLe Rassembleur. Denis Coderre wasted no time following through on his promises to be a unifier. He met with a supposed enemy, Quebec City Mayor Régis Labeaume, a month after his election to tackle ballooning pension-plan payments, costing Montreal …Bixi saved for the summerCBC.caMontreal bails out Bixi bike-sharing firm for $11.9MSun News Networkall 12 news articles »
Regulator issues stern warning on borrowing to invest
– moneysense.ca
The Investment Industry Regulatory Organization of Canada (IIROC) published its “final guidance” on borrowing-to invest strategies Wednesday, stressing the obligations of financial advisers to adequately warn and supervise their clients regarding the use of these often risky strategies.
It’s not uncommon for Canadians to borrow money to make their annual RRSP contribution for instance and pay back the loan with the tax refund the contribution generates, this is called a “gross up” loan. RRSP “top up” and “catch up” loans however are considered more risky since they are typically larger and require investors to pay back the loan from other income sources.
IIROC-regulated firms must have sound policies, procedures and controls in place when borrowing-to-invest strategies are recommended by the firm and its registered representatives, the regulator said in a press release Wednesday. Advisers must also ensure the risks are fully explained and that clients are aware of the potential impact of borrowing-to-invest strategies based on the clients’ financial situation, risk appetite and ability to withstand loss…
It’s not uncommon for Canadians to borrow money to make their annual RRSP contribution for instance and pay back the loan with the tax refund the contribution generates, this is called a “gross up” loan. RRSP “top up” and “catch up” loans however are considered more risky since they are typically larger and require investors to pay back the loan from other income sources.
IIROC-regulated firms must have sound policies, procedures and controls in place when borrowing-to-invest strategies are recommended by the firm and its registered representatives, the regulator said in a press release Wednesday. Advisers must also ensure the risks are fully explained and that clients are aware of the potential impact of borrowing-to-invest strategies based on the clients’ financial situation, risk appetite and ability to withstand loss…
