All about Retirement Planning in Canada. Learn the ins and outs and get the latest news.
Latest News
How to be a better investor Mar 1st
For both beginner and experienced investors, focusing on a few basic guidelines can make the difference between good results and great ones. Whether you’re investing in a taxable account or a tax-sheltered account like a registered retirement savings plan (RRSP), doubling down on the basics can he.... More »
TFSA vs RRSP: How to decide between the two Jun 29th
One of the most common questions out there is whether to invest in a registered retirement savings plan (RRSP) or a tax-free savings account (TFSA). Both will help you save, and save on taxes, but each works in different ways. Understanding these investments will help you know when to use one or the.... More »
Skipping the starter home for the next size up? Be financially savvy about it May 4th
Taking on too big a debt load can leave first-time buyers house poor, unprepared for retirement and stressed by ordinary purchases for things like car repairs and vacations, Lesley-Anne Scorgie writes..... More »
Who Wants to Support a Millionaire? Dec 2nd
The median American household can’t come close to affording the pension benefits of career government workers..... More »
A guide to spousal RRSPs for married and common-law partners + MORE Jun 22nd
Couples can open and contribute to a personal Registered Retirement Savings Plan (RRSP) or a spousal RRSP—or both. A spousal RRSP generally makes the most financial sense for couples whose incomes are quite different. If one partner earns little or no income, so that contributing to their own RRSP.... More »
How not to prepare for retirement
– moneysense.ca
Despite the steady flow of retirement savings crisis headlines in recent years, it seems many Canadian couples haven’t even discussed the topic with their significant others, let alone started a savings regime.Last week, RBC reported that 68% of not-yet-retired Canadians 50 or older who participated in its annual retirement poll have yet to discuss their post-career lives with their partners. Eighty-six per cent are reluctant to discuss health issues, 81% don’t want to raise the topic of what happens if one of them dies sooner than anticipated and two-thirds haven’t discussed what they will do together in retirement. And astonishingly, only 36% have discussed how to finance retirement and where they would live once it occurred.
Retirement preparedness is no better in the United States. Thirty per cent of American workers have less than US$1,000 in savings and investments while three-in-four have less than US$30,000 saved in their retirement accounts, according to data from 2012…
Generation Y: Tips for Helping Your Kids and Grandkids Survive Financially
– rhondasherwood.com
If it seems that there is a constant stream of negative press surrounding Generation Y’s abilities to financially survive in today’s economy, you’re right. They have extraordinarily high tuition fees that continue to climb at a steady pace, home prices in the lower mainland are pretty much unaffordable for most people and retirement – well that will most likely be a thing of the past by the time your kids or grandkids reach age 65. Things do look pretty bleak for Gen Y. There are some things you can do to help your kids and grandkids survive financially.
Plan Now to Help Your Kids and Grandkids Survive Financially
1. Help them Save for their Education
Young people today are burdened with student loans and lack of job opportunities. If you are financially able to, direct any child benefits or gifts of money your child receives into a Registered Educational Savings Plan (RESP). Show your kids the power of saving by letting them see their RESP statements and encourage them to put babysitting monies, or other income earned into it…
Couple, 64, wonder if they are OK for retirement
– thestar.com
Monday Makeover looks at empty nesters in their 60s who have done right things but wonder what they could do to make retirement smoother
