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Latest News
Canadians take retirement savings seriously, census data shows + MORE Sep 16th
It’s the first time the census has probed the question, taking advantage of tax data to correct a picture which experts say has long been distorted by suspect numbers and aggressive investment marketing..... More »
How to avoid tax-payment nightmares when RRIF withdrawals start Sep 29th
One thing salaried employees take for granted is the automatic deduction of taxes “at source.” They receive their regular paycheque with “net” or after-tax deposits that go directly into their bank accounts. The consolation is that come tax time there should be no unpleasant surprises in the.... More »
Slashing debt is Canadians’ number one priority in 2018 + MORE Dec 30th
TORONTO — Canadians are keen to lighten their debt loads in 2018, according to an annual opinion survey conducted for CIBC.
The Toronto-based bank says debt reduction or elimination was the top priority for 25 per cent of the poll respondents.
Paying bills or just getting by .... 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 »
Posthaste: Retirement out of reach for almost 40% of working Canadians over 50 - Financial Post Feb 1st
Posthaste: Retirement out of reach for almost 40% of working Canadians over 50 Financial PostPosthaste: Only about a third of Canadians over 50 say they can afford to retire Yahoo Canada FinanceRetirement ‘becoming unaffordable’ for many Canadians. What can they do? &n.... More »
Louisiana hit with credit rating downgrade, blow to state
– canadianbusiness.com
BATON ROUGE, La. – Louisiana’s credit rating was downgraded for the first time in more than a decade Thursday, in response to years of budget instability that leave public colleges and government services wallowing in continued financial uncertainty.
The decision by Moody’s Investors Service to drop the state’s credit rating is another blow to a state teetering on the edge of financial calamity. And it comes as Gov. John Bel Edwards and lawmakers are grappling in a special legislative session with balancing the budget.
The national rating agency dropped the state’s rating by one notch, to Aa3. Moody’s cited the steep drop in oil price’s effect on state tax collections, years “of structural imbalance” in the budget and declining financial reserves. It raised concerns about state retirement debts and the growing cost of Louisiana’s Medicaid program.
Ratings from the credit agencies help determine interest rates when the state borrows money, through bond sales to investors…
The decision by Moody’s Investors Service to drop the state’s credit rating is another blow to a state teetering on the edge of financial calamity. And it comes as Gov. John Bel Edwards and lawmakers are grappling in a special legislative session with balancing the budget.
The national rating agency dropped the state’s rating by one notch, to Aa3. Moody’s cited the steep drop in oil price’s effect on state tax collections, years “of structural imbalance” in the budget and declining financial reserves. It raised concerns about state retirement debts and the growing cost of Louisiana’s Medicaid program.
Ratings from the credit agencies help determine interest rates when the state borrows money, through bond sales to investors…
More Canadians looking at investing outside the country
– moneysense.ca
TORONTO – Canadian investors are increasingly looking at putting their money to work outside the country despite the drop in the loonie, a CIBC poll suggests.
The survey found that 41 per cent of Canadians investing for retirement in stocks or mutual funds will invest mainly outside of the country.
That result is up from 31 per cent in a similar poll last year.
The poll conducted in January by Vision Critical found 15 per cent of those surveyed said they planned to add to their U.S. investments, while another 15 per cent were investing in emerging markets.
The Couch Potato goes abroad »
Eleven per cent planned on stocks and mutual funds in developed markets such as Europe.
The online poll was done by Vision Critical from Jan. 20 to 22.
Much of the Canadian stock market is based in three key sectors — energy, mining and financials. The concentration meant last year that the S&P/TSX composite index suffered due to weakness in oil and other commodity prices.
“While it’s natural for investors to have a ‘home bias’ by overweighting your portfolio to domestic stocks, taking a Canada-only approach can hurt returns,” says Luc de la Durantaye, managing director, asset allocation and currency management, CIBC Asset Management…
The survey found that 41 per cent of Canadians investing for retirement in stocks or mutual funds will invest mainly outside of the country.
That result is up from 31 per cent in a similar poll last year.
The poll conducted in January by Vision Critical found 15 per cent of those surveyed said they planned to add to their U.S. investments, while another 15 per cent were investing in emerging markets.
The Couch Potato goes abroad »
Eleven per cent planned on stocks and mutual funds in developed markets such as Europe.
The online poll was done by Vision Critical from Jan. 20 to 22.
Much of the Canadian stock market is based in three key sectors — energy, mining and financials. The concentration meant last year that the S&P/TSX composite index suffered due to weakness in oil and other commodity prices.
“While it’s natural for investors to have a ‘home bias’ by overweighting your portfolio to domestic stocks, taking a Canada-only approach can hurt returns,” says Luc de la Durantaye, managing director, asset allocation and currency management, CIBC Asset Management…
What procrastinators should do about the RRSP deadline
– moneysense.ca
OTTAWA – If you haven’t made a contribution to your RRSP account so far this year, investment advisers say you are not alone.But while the volatile ride the Toronto Stock Exchange has taken in recent months may have given reason to procrastinate, the deadline is just around the corner.
Linda MacKay, senior vice-president for personal savings and investing at TD Canada Trust, said the stock market fluctuations in recent months may have some pondering what’s the right thing to do.
But, she said, the earlier people start saving for retirement, the better.
The savvy investor’s guide to RRSPs »
“It is incredibly difficult to time the market and typically if you do try to you’re going to probably miss some of the best times to buy,” MacKay said.
“People who are nervous about the market tend to hit the worst days and miss the best days. We know over the long run if you have a good plan and you’re focused on your long-term goals then staying invested in the right investments for your risk tolerance is a better strategy…
