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Scared of selling? When holding on to stocks can hurt you financially + MORE Oct 8th
When you invest, you buy and sell assets. Sometimes, the selling part—or not selling—can lead to problems. Here are few cases of seller’s hesitancy that can harm your financial situation.
Holding until a stock recovers
Investors sometimes want to break even on a trade. This may cause the.... More »
How financial journalists plan their own retirement + MORE Aug 13th
It’s an occupational hazard of personal finance (PF) journalism that the writers’ lives are an open book. Anyone reading Retired Money knows my age and that I recently had to convert my RRSP into a RRIF. And I’m not alone: this summer has seen the retirement of some long-time PF columnists, no.... More »
The best GIC rates in Canada for 2024 + MORE Jun 3rd
Investing
The best GIC rates in Canada
Find the best GIC rates in Canada. Plus, everything you need to know about how they work.
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Why trust us
MoneySense is an award-winning magazine,.... More »
MoneySense reader survey: Help us get to know you Feb 7th
We’d love to get your thoughts on personal finance. It’s just a quick three-question poll for a future article. All responses are anonymous. MoneySense does not keep your email address for this survey. That said, feel free to sign up for one or all three of the free MoneySense newsletters.
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Making sense of the markets this week: January 1, 2023 + MORE Dec 30th
Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines of the week and offers context for Canadian investors.
Before looking ahead to 2023, I just want to give a big “Thank you” to writer Dale Roberts and our editorial team, inc.... More »
Strategies for smarter charitable giving
– moneysense.ca
Here’s some news Canadians can celebrate while we’re all trying to find some light during the pandemic: People across the country donated more than $11 million on Giving Tuesday (Dec. 1) this year compared to $5 million on Giving Tuesday 2019, according to online donation hub Canada Helps.
That’s an impressive lift, given that just three months prior, more than a third of Canadians polled by Angus Reid said they had been giving less since the onset of COVID-19.
“The lion’s share of giving comes from the everyday donor, not the large foundations or corporations,” says Greg Thomson, research director at Charity Intelligence, a Toronto-based nonprofit that uses investment-style research methods to help donors direct their money to the organizations that reflect their values and the impact they’d like to make. “And in the economic situation that many folks find themselves in now, it is absolutely not about how much you give, it’s about how well you give.”
CI analyzes charities and rates them based on how much value they offer per dollar…
That’s an impressive lift, given that just three months prior, more than a third of Canadians polled by Angus Reid said they had been giving less since the onset of COVID-19.
“The lion’s share of giving comes from the everyday donor, not the large foundations or corporations,” says Greg Thomson, research director at Charity Intelligence, a Toronto-based nonprofit that uses investment-style research methods to help donors direct their money to the organizations that reflect their values and the impact they’d like to make. “And in the economic situation that many folks find themselves in now, it is absolutely not about how much you give, it’s about how well you give.”
CI analyzes charities and rates them based on how much value they offer per dollar…
Ways to “unlock” retirement savings in a LIRA
– moneysense.ca
Q. When I retired at age 63, the financial institution that managed my DPSP account paid the company-contributed portion (approximately $30,000) into a LIRA.
Given all the constraints related to drawing down a LIRA/LIF, I am now 65, living in BC, and have two questions:
Given all the constraints related to drawing down a LIRA/LIF, I am now 65, living in BC, and have two questions:
Since I was already at retirement age, was it really necessary for the financial institution to create the LIRA, or could all the proceeds simply have been consolidated into my RRSP account?
In order to simplify the management of my portfolio, is there any way of “unlocking” the LIRA so that I can place the proceeds into a normal RRIF?
–Keith
A. Leaving a group pension or retirement savings plan often means you have decisions to make. Some plans allow retirees to keep their investments with the provider, either in the same plan or with their retiree program.
Plan members often transfer their investments out to invest with an advisor or on their own. Certain accounts need to be transferred to new accounts, while others can be transferred to the same receiving account…
