Planning for retirement with little or no savings to draw on Jul 9th

TSX getting you down? There are always sound investment alternatives.
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Smart financial decisions small business owners should make now Jul 27th

In partnership with Surex Rule number one of being an entrepreneur: When things get tough, keep going. The COVID-19 pandemic has brought to the surface many worst-case scenarios for small business owners. They’ve lost revenue, laid off staff, and some have even had to close their business permane.... More »

The best bank account should manage itself Jul 17th

Between long hours at work and day-to-day responsibilities at home, finding time to take a break, catch up with friends or even squeeze in a workout requires serious time management skills. So it’s easy to shrug it off if you’re a couple of weeks late on that last Internet bill or get accustomed.... More »
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Tips & Tricks for Investing After Losing Your Job Due to an Injury + MORE Jul 16th

You are home and laid up after a work accident, and expect that you will be so for a while. You’ve always been intrigued by investing and are wondering how you can learn how to invest, now that you have some downtime to look into it. Thankfully, your workers’ compensation is paying and you have .... More »
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Making sense of the markets this week: August 3 Aug 1st

Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors. Gold outshines itself Gold stole the headlines this week. That can happen when an infamous asset takes out its previous all-time highs.  Last Sunday, gold made another push a.... More »

How to handle your finances when CERB ends + MORE Jul 31st

Nick was doing deliveries for a friend with a catering service prior to the pandemic. In March, he applied for another driving job. “That would have fit well with my parental duties and freelance writing gigs.” he says. “The guy was ready to give it to me right then and there, but the company .... More »
Despite their best intentions some Canadians, facing a variety of financial challenges throughout their working lives, may not be able to save much towards retirement. Yet it’s difficult to know how to manage in those circumstances, as so much of the financial planning advice that’s shared widely is catered to wealthier people. 
Retiring with little to no savings can be difficult, but it is not impossible.
Canada Pension Plan (CPP)
For a retiree who has worked most of their life, the Canada Pension Plan (CPP) will replace a portion of their historical earnings. The CPP retirement pension is meant to replace 25% of what you earned, on average, over your career, up to a certain limit. A CPP enhancement began in 2019 that will gradually increase that replacement rate to 33% over time.
In 2020, the maximum CPP retirement pension payment at age 65 is $1,176 per month—that’s $14,112 per year. However, not all retirees have made enough CPP contributions during their careers to receive the maximum…

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