There are plenty of retirement plan options in Canada! Stay on top of the best plans right here.
Latest News
Compare the Best Savings Accounts in Canada + MORE Nov 25th
How to use this tool: You can simply scan the savings account comparison table below to view interest rates offered by financial institutions across Canada. Or, input your estimated account balance and compare between high-interest savings accounts (HISA), tax-free savings accounts (TFSA), registere.... More »
Cut unnecessary costs with one simple change to your banking + MORE Dec 13th
If you’re like many Canadians, you view bank fees as a necessary expense, but this couldn’t be farther from the truth. Paying a small fee each month isn’t usually much trouble, but over a whole year, it can really add up. The good news is that affordable banking has never been more in .... More »
OAS payment dates in 2025, and more to know about Old Age Security + MORE Apr 4th
If you’re approaching or planning for retirement, you may have questions about Old Age Security (OAS) benefits, like: Do I need to apply for OAS? How much will I receive in OAS? When do OAS payments go out? We cover these questions and more below. But first, here’s a quick overview of how OAS wo.... More »
40 and no pension: What do you do? + MORE Aug 23rd
Pension envy is real. That’s because, when it comes to retirement planning, a defined-benefit pension does the heavy lifting for you. Contributions come right off your paycheque and go into a pool of pension dollars that will fund your retirement, or most of it, anyway. It’s the ultimate “pay .... More »
When to prioritize debt repayment over saving Nov 9th
In an earlier story, we introduced you to Lindsay Tithecott, a 29-year-old who is trying to pay down debt, build up savings and buy a larger condo. To help her get her finances in tip top shape, we gave her a series of financial challenges, including a rethink of her budget-busting fitness classes. .... More »
Screwed!
– moneysense.ca
“Our retirement dreams are in tatters.” The line jumps out from an email to MoneySense from a reader we’ll call Ellen Thornton. The Thorntons’ retirement portfolio once stood at $2.2 million, but as of early 2014 it had plummeted about 90% to just $225,000. Their advisor—who works with the wealth management arm of one of the Big Five banks—told the couple that $2 million wasn’t enough to retire on and encouraged them to pile on risk in pursuit of higher returns. When Ellen’s husband, Barry, complained, Ellen says he was belittled by the advisor. Barry was so shaken by the experience that during his tirade he suffered a pulmonary attack. The Thorntons filed a complaint with the bank’s ombudsman, but they don’t expect to recover their losses. “They prefer to spend a fortune on lawyers rather than putting things right for clients,” Ellen wrote. “Yes, I am scared, but I have to fight this. Crying as I type.”The Thorntons’ story is not as rare as it might sound: Far too many investors have, in some form or another, been screwed by their advisors…
