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The best travel insurance credit cards in Canada for 2024 + MORE Jul 2nd
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The best travel insurance credit cards in Canada for 2024
Searching for the perfect card? Compare your options with our interactive tool, and filter results based on rewards value, annual fees, income requirements, and more.
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Does a Higher Home Insurance Deductible Mean More Savings? + MORE Jun 28th
Home insurance can sometimes be tricky. You know you need a home insurance policy, but how do you find the right deductible amount? On the one hand, you want low monthly payments. On the other, you don’t want a high payment to make if something happens and you have to file a claim. But, what’s .... More »
How life insurance can shave your capital gains tax + MORE Sep 24th
Q: My husband and I bought life insurance in 2008. At that time, I was 44 and a non-smoker, and he was 46 but a former smoker. Each of us is insured for $250,000. The monthly premiums have been a total of $142.50 since we took out the policy—$58.90 for me, and $83.60 for him. In 2018, when my hus.... More »
Does it make sense for a young person to have life insurance? Nov 24th
Buying life insurance in your 20s can feel like an added cost to an already long list of expenses. But experts say it can safeguard loved ones if life doesn’t go as planned.
Do young Canadians need life insurance?
There can be a “very high temporary insurance need” for younger Canadians,.... More »
This Year’s Best Credit Cards for Travel Perks May 15th
For the avid traveler, there are a few things you can’t go without – your passport, travel insurance, and a good travel rewards credit card.
Those who travel pretty often already know – the opportunity to gain rewards with a good travel credit card are hard to resist. You can easily earn deep.... More »
MoneySense magazine: April 2015
– moneysense.ca
April 2015Volume 17, Number 2
Download the MoneySense app to read this issue on your tablet or smartphone now.
Best Deals in Real Estate: Canada’s Cities & Neighbourhoods
The Small Cap 100
28 Ways to pay less tax
Editor’s Letter
By: Duncan Hood
Intelligence
Assisted suicide & life insurance: Dignity but no indemnity, and other stories
Ask MoneySense
By: Bruce Sellery
Am I On Track
By: Julie Cazzin
Instant Expert
What do if you’ve (just) been fired
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
Outdoor kitchens & more
How I Did It
Made $60,000 investment return in just 16 months
The post MoneySense magazine: April 2015 appeared first on MoneySense.
Is An Insured Annuity For You?
– ratesupermarket.ca
GICs are typically the investment of choice for retirees who want guaranteed income. However, with interest rates still so low, they just don’t provide much income these days.
One frequently overlooked alternative for improving returns while still guaranteeing your money is something called an ‘insured’ annuity, a combination of a prescribed life annuity and a life insurance policy, which together will produce a guaranteed income stream and protect the value of your estate.
Let’s say you were considering investing $100,000 in GICs from which you’d earn about $3,000 per year. If that income was taxed at roughly 33 per cent, you’d get approximately $2,000 to spend.
By buying a single life annuity with no survivor benefits, a 60 year-old woman could receive an annual income of roughly $6,093 at today’s rates.
Improving Your After-Tax Income
Since only $1,819 of this amount is taxable (a portion of the income stream in the annuity is considered to be a return of capital), the tax on that amount at 33 per cent would be roughly $600 each year, leaving you with approximately $5,493 to spend – considerably more than a GIC might provide…
