Paper versus online statements: 8 FAQs + MORE Jun 24th

Q: Is there a best month of the year to retire?
—Dory Urbano, Vancouver
A: It really depends on how you define “best.”  If you follow astrology, a consultation with the stars will tell you what’s best. If you play golf, I’d say April is best so you can plan your summer tee times unencumbered. But from a financial perspective, there isn’t really a best time to retire. That said, there are still a few factors to take into consideration. For instance, you’ll want to make sure you work long enough to qualify for the richest pension possible. And if you have a bonus or retirement allowance you might want to consider scheduling your retirement in December so that the bonus pays out in the following tax year, when you have no salary income. Whichever month you choose, I hope you have the best retirement ever.
Leave your question for Bruce Sellery »
More expert answers:
Do I qualify for the pension tax credit? »
What can I hold in a non-registered account? »
How to pay less tax on RRSP withdrawals »
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Normally we do not condone carrying a credit card balance, let alone a balance on a higher end premium travel rewards card. However we know there are thousands of Canadians who are having a bit of a tough go at it right now and are carrying balances on their credit cards. Whether its a no fee no rewards card or a high end travel rewards card many of you are paying some super high interest rates on balances being held on cards. Heck the last known study shows Canadians increased the balances they are holding on credit cards by $500,000,000. That’s right half a billion more dollars that you are being charged interest on. That’s not even the total amount held as balances, simply how much it has increased in about the last 18 months!So what can you do? First you need to change your spending habits, many Canadians spend upwards of $3 for every $1 they make! That simply needs to change and if you are ready to change you need help. So taking advantage of a low interest offer is something we have always mentioned when talking about debt, whether its a consolidation loan or a credit card with a low interest rate…

Debt settlement can help get you out of overwhelming debt, but there will be a catch

Frequently asked questions about switching from paper to online statements for your credit card account, or maybe switching back

With so many ads and promotions floating around, it may appear that companies are practically giving credit cards away. However, when you apply for a credit card there is absolutely no guarantee you’ll be approved.
There might be a perfectly “good” explanation for why you were rejected. However, if you believe you have a solid credit history, the first thing to check is whether or not your identity has been compromised. Once that has been clarified, think about what could be causing you to have a questionable credit score. There are ways to improve your situation to ensure your next application is approved.
If You Thought You Had a Good Credit Score, but …
There’s no need to panic if your credit card application is rejected, but it is important to investigate why you were turned down. It’s a good idea to call the credit card company directly first. Sometimes there can be a simple explanation – for example, you applied for a credit card but didn’t meet the minimum requirement or the company was missing a piece of information…