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Can you help your kids financially without compromising your retirement? + MORE Jul 8th
Ask MoneySense
I’m 58 years old. I will retire in five to seven years. My RRSP, TFSA, defined benefit pension plan and a house are my financial properties. I plan to leave some of my wealth to my two children. How do I go about doing that and still retain my financial independence and dignity?
.... More »
Colleges and universities face job cuts, deficits amid international student cap - CP24 Nov 23rd
Colleges and universities face job cuts, deficits amid international student cap CP24Ontario colleges face biggest financial hit from Ottawa’s international student clampdown The Globe and MailColleges and universities ring financial alarm over foreign student caps .... More »
The best GIC rates in Canada for 2024 Nov 25th
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
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Constellation Energy Stock Surges on Deal to Buy Calpine - Barron's Jan 10th
Constellation Energy Stock Surges on Deal to Buy Calpine Barron'sCPPIB sells stake in U.S. energy producer Calpine The Globe and MailConstellation Energy Jumps On $26 Billion Deal. But There's Risk. Investor's Business DailyCPP Investments to Sell Stake in Calpine Co.... More »
Should you take extra RRIF withdrawals to increase your estate? + MORE Nov 26th
Ask MoneySense
I have a RRIF that is worth approximately $250,000 at the moment. My two children are the beneficiaries. Obviously, I am hoping to somehow reduce any tax on this RRIF income when I die. Is my taking more out of the RRIF and paying the tax each year the best way to do this? Do you have.... More »
Single, no pension? Here’s how to plan for retirement in Canada
– moneysense.ca
Being single in retirement has some financial obstacles. Some people are single as they enter retirement. Others become single due to divorce or death prior to or after retiring. Here are some considerations for planning your retirement as a singleton, especially if you have no defined benefit (DB) pension.
Cost of living as a single person in Canada
One third of Canadians struggle to plan for retirement and 75% of people say their cost of living is negatively impacting their retirement savings, according to a Sun Life survey.
What does this mean for singles? You know it doesn’t cost twice as much to live with another person, because there are fixed costs to running a household that apply to singles and couples.
According to Statistics Canada’s Survey of Household Spending, a one-person household had total expenditures of $49,661 in 2021. By comparison, couples without children had total expenditures of $91,121. This implies cost savings of about 17% for the second person in the household…
