We’re unduly discouraged about retirement + MORE Nov 4th

Firms currently charge 2 to 3 per cent on transactions in the U.S.

Pension expert and C.D. Howe Institute senior fellow Malcolm Hamilton
Actuary and pension guru Malcolm Hamilton has already achieved what many MoneySense readers aspire to do one day: retire at 62. But, he confessed at MoneySense’s Retire Rich event on the weekend, despite his vast pension experience and gold medals in mathematics, he probably over saved. “I was cautious and now have more than I need. I have no good use for the money, although I might if we have another 2008.”
Now 63, Hamilton is mostly retired, although he is also a senior fellow for the C.D. Howe Institute and continues to do some writing and speaking. As one of the media’s go-to sources for all things retirement and pensions, he reiterated a theme that has long been picked up by the country’s financial writers. He continues to believe most Canadians don’t need to “replace” 70 or 80% of their working incomes, which are the percentages usually proffered by our financial institutions. Most of us will be able to get by with 50% or even just 40% of what we earned in our working lives…

Alright Eastern Triangle flyers! Here is a bonus offer for you. Air Canada launched a promotion for you today when you fly on Flex Fares or higher between Toronto and Montreal or Ottawa. Like all flight promotions from Air Canada, bookings made before today do not count. The earn period is quite long, essentially four months so for you frequent travellers making these short hops a few times per month you should come out with at least 7,500 bonus miles if not more. Nice to see that one segment will get you a bonus and not like other promos where you have to hit two or three before you get something. Perhaps AC is feeling the heat from Porter and WestJet (WestJet does offer 3x Dollars on these routes) and want to keep their Altitude members who fly these routes a lot from jumping ship after the recent announcement? Offer DetailsEarn up to 15,000 Bonus Aeroplan Miles when you fly on Air Canada’s Rapidair® service between Toronto and Montreal or Ottawa on Flex fares and higher. Register Online (Registration is required) Book by Dec 31 for travel until Feb 28, 15 Bonus miles awarded as follows:

Stay tuned: We’ll have the latest updates as soon as they become available.
Credit card history may be made today; the long-awaited outcome of retailers’ and government efforts to reduce credit card interchange fees could to go public this evening after markets close. While it’s unknown whether the government’s request for a full 10 per cent reduction will be realized, it’s anticipated that the change will be voluntarily introduced by credit card providers MasterCard and Visa, and that it will be impactful. Says Canadian Federation of Business President and CEO Dan Kelly in an interview with MoneyWise, “We’re hoping for a meaningful reduction in credit card processing fees, and that it will be noticeable when merchants will receive their bills.”
Also read: Is this the End of Credit Card Interchange Fees?>
So – Is This Good News for Consumers?
In theory, any reduction in costs for retailers could translate to savings for consumers at the till – but passing them down would be at the discretion of individual retailers; the ability to absorb any savings from a fee cut would vary based on the size and profitability of the business…

The ballyhooed new payment system is still reliant on your having a credit card. That’s not exactly revolutionary.