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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 »
When should you start taking CPP? Take it too early or too late and you could sell yourself short + MORE Dec 16th
Age 65 is considered the “standard” age for beginning both CPP and OAS, but you can start taking CPP any time between ages 60 and 70 and you can start OAS any time between 65 and 70..... More »
5 key risks to retirement income + MORE Jun 25th
Inflation is the single biggest risk for retirees, with 58% of pre-retirees and 45% of retirees worried about the potential for rising prices to erode purchasing power, finds a Fidelity Investment survey.
“Inflation hurts retirees more than any other group,” says Peter Drake, vice-president, ret.... 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 »
7 Facts About your RRSP You Should Know + MORE Feb 5th
Now that RRSP season is in full swing, if you haven’t made your 2015 contribution, you should be making plans to look after this important financial task. The deadline is set for February 29, 2016. Before you make your decision about your contribution, here are some key facts about your RRSP you s.... More »
The real cost of segregated funds
– moneysense.ca
Sarah Tarraf, Calgary(Photograph by Ania & Tyler Stalman)Acting on a friend’s advice, Sarah Tarraf, 32, recently switched the holdings of her $43,000 RRSP to an all-Canadian portfolio of equity and fixed-income segregated funds. So-called “seg funds” are an insurance product that guarantees a portion of your investment against loss—in this case, Tarraf can’t lose more than 25% of her principal. The trade-off is an exorbitant management expense ratio (MER) of 3.5%, as well as steep fees for accessing capital early—something Sarah didn’t appreciate until later. If she wants out, she can wait until 2020 to sell with no penalty. Or, she can take out 10% a year from each fund at no cost.
Certified financial planner Vickie Campbell of Ryan Lamontagne Inc. in Ottawa doesn’t like that Sarah’s portfolio is now 100% invested in Canadian funds, and she says the 3.5% MER is too high a price to pay for peace of mind. “It’s not the right choice for someone this young,” says Campbell…
MoneySense magazine: February/March 2015
– moneysense.ca
February/March 2015Volume 16, Number 9
Download the MoneySense app to read this issue on your tablet or smartphone now.
The RRSP advantage
Canada’s best mutual funds
The Best ETFs to buy right now!
Editor’s Letter
By: Duncan Hood
Intelligence
Ask MoneySense
By: Bruce Sellery
Am I On Track
By: Julie Cazzin
Instant Expert
Portfolio Makeover
By: Julie Cazzin
Index Investor
By: Dan Bortolotti
Financial Independence
By: Jonathan Chevreau
Jacks On Tax
By: Evelyn Jacks
Family Profile
By: Julie Cazzin
Retirement
By: David Aston
Smart Spender
How I Did It
The post MoneySense magazine: February/March 2015 appeared first on MoneySense.
