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The best high-interest savings accounts in Canada for 2024 May 21st
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The best high-interest savings accounts in Canada for 2024
Here are the accounts offering the highest interest rates and lowest fees.
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Pay Attention to Your RRSP Fees, and How You Pay Them + MORE Mar 14th
No one likes to pay fees, but the rate you pay for your investments and how you pay them can be especially troublesome. Making the right decision for your portfolio can be the difference in how much money you earn over the long haul.
When it comes to your Registered Retirement Savings Plans (RRSPs).... More »
Drivers can pocket their savings by allowing their insurer to come along for the ride + MORE Jun 21st
Driver monitoring programs are generally delivered in two ways, by a smartphone app that “sleeps” until it senses driving has started, or by a telematics device plugged into the car’s diagnostic port..... More »
RRSPs, DCPPs, CPP, oh my! + MORE Oct 5th
Q: I’m 56 and would like to retire at 60. I have a defined contribution pension plan. Would it be wise to draw RSP only until 65 and leave CPP and DCP to grow?
—Daniel
A: I find there can be a lot of confusion around Defined Contribution (DC) pension plans, so let’s seek to clarify some.... More »
Five retirement savings tips for Millennials + MORE Jul 28th
A couple of years ago, Emilie Hunt had to go to the emergency room with a stomach virus. The bill took a huge chunk of money out of her savings, more than $800, and kept her from saving for a couple of months..... 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…
RRSP not needed for these newcomers
– thestar.com
Monday Makeover looks at a couple who came to Canada 10 years ago. They have a good income, but are late to retirement savings.RRSP not needed for these newcomers
– thestar.com
Monday Makeover looks at a couple who came to Canada 10 years ago. They have a good income, but are late to retirement savings.
