Not sure how to make a retirement plan? Read on…
Latest News
Sears looking to close all stores, 12,000 to lose jobs + MORE Oct 14th
TORONTO — Sears Canada Inc. is seeking court approval to liquidate its roughly 130 remaining stores, leaving approximately 12,000 employees without a job.
The embattled retailer, which has been operating under the Companies’ Creditors Arrangement Act since June, said Tuesday that it had fail.... More »
How much should I have in my RRSP? + MORE Feb 22nd
For many Canadians, investing in their registered retirement savings plan (RRSP) is the primary way they save for retirement. RRSPs are an invaluable tool, allowing you to stow away funds for golden years while reducing your taxable income today. However, there is no one-size-fits-all way to use the.... More »
Federal pension board used offshore 'scheme' to skirt foreign taxes + MORE Nov 6th
The federal Crown corporation that invests civil servants' pensions used a complex network of European companies that its own advisers called an "avoidance scheme" to avoid paying foreign taxes — a revelation that could undermine Canada's standing as countries crack down on corpora.... More »
Ontario government to delay ORPP rollout by one year + MORE Feb 19th
The Association of Canadian Pension Management is welcoming today’s announcement of a one-year delay to the Ontario Retirement Pension Plan.
“We welcome it,” says ACPM chief executive officer Bryan Hocking, calling it a “wise” move.
“I think they’ve had enough input from a number of di.... More »
“Get to know and minimize the investing fees you pay”: Michael McCullough, MoneySense contributing editor + MORE Nov 1st
Financial writer and editor Michael McCullough has made a career of helping Canadians understand a wide range of money topics, from real estate to alternative investments. In addition to being a MoneySense contributor and contributing editor, Michael writes for The Globe and Mail and BCBusiness, and.... More »
Get used to volatility: BMO says it’s the “new normal”
– moneysense.ca
A study coming out today from BMO Global Asset Management says 77% of Canadian investors feel market volatility is the “new normal” and here to stay. Virtually all (96%) of the 1,002 that were polled online early this year believe balancing investment risk is important. Major factors involved in this are long-term rate of return (95%); diversification (86%) and short-term rate of return (72%).
Uppermost in investors’ minds are considerations like stretched stock valuations, weaning of monetary policy support from central banks and emerging market liquidity strains. As a result, BMO chief investment officer Paul Taylor expects volatility will continue for at least another year or two.
Retiring boomers especially sensitive to this volatility
Those near retirement need to pay special attention to this. In a press release, BMO singles out baby boomers approaching retirement, urging them to focus on reducing risk and “take a more conservative investing approach to preserve their nest egg…
Uppermost in investors’ minds are considerations like stretched stock valuations, weaning of monetary policy support from central banks and emerging market liquidity strains. As a result, BMO chief investment officer Paul Taylor expects volatility will continue for at least another year or two.
Retiring boomers especially sensitive to this volatility
Those near retirement need to pay special attention to this. In a press release, BMO singles out baby boomers approaching retirement, urging them to focus on reducing risk and “take a more conservative investing approach to preserve their nest egg…
The Facts About RRSP Carry-forwards
– rhondasherwood.com
Are you confused about “RRSP carry-forwards”? If so, you’re not alone. A Registered Retirement Savings Plan (RRSP) is a way for taxpayers to save money, which can provide a source of future income, as well as provide an immediate tax deduction. The “carry-forward” part of that term simply means that taxpayers have some flexibility in the amount they contribute to their plan and when they use their tax deduction.RRSP Carry-forwards for Unused Contribution Room
For each year that you earned income, you have a maximum amount which you can contribute to your RRSP. Not everyone contributes this amount into their retirement savings plan each year. Any unused contribution room is simply carried forward to future tax years indefinitely.
If you have a year where your income is higher than in previous years or your expenses have gone down, you have the option of taking the extra money and putting into your RRSP. One way you can contribute to your RRSP and take advantage of your unused contribution room is to take your income tax refund and contribute it to your plan…
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.
