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This Toronto Floral Shop Is Making the Industry More Sustainable + MORE Oct 12th
Before the pandemic, May Flowers, then a two-year-old floral business, operated like many of its competitors. It focused on wedding and occasion bouquets, and its shop in Toronto’s west end functioned primarily as a depot to fulfill orders.
This past spring, right after Mother’s Day—one of.... More »
Royal Bank of Canada Lifts Dividend With Jump in Quarterly Earnings - The Wall Street Journal + MORE Dec 3rd
Royal Bank of Canada Lifts Dividend With Jump in Quarterly Earnings The Wall Street JournalRBC hikes profitability target after posting 29% jump in fourth-quarter earnings The Globe and MailRBC CEO warns of economic uncertainty as bank profit beats expectations Finan.... More »
The return of The Wealthy Barber Nov 11th
The original version of The Wealthy Barber was released in 1989, and has since become one of the best-selling books of all-time in Canada with over 2 million copies sold. Its cultural impact rivals that of Canadian literary classics like Margaret Atwood’s The Handmaid’s Tale and L.M. Montgomery.... More »
OAS payment dates in 2025, and more to know about Old Age Security + MORE Jul 28th
If you’re approaching or planning for retirement, you may have questions about Old Age Security (OAS) benefits, like: Do I need to apply for OAS? How much will I receive in OAS? When do OAS payments go out? We cover these questions and more below. But first, here’s a quick overview of how OAS wo.... More »
Bob Joyce, financial advisor + MORE Apr 7th
Meet Bob Joyce
As a young lad, Bob Joyce received some words of wisdom from his father that clearly resonated with him. He would, on occasion, hear his dad say that we don’t all wear blue suits. When he asked his dad what that meant, he was told that everyone is unique, and we need to recognize.... More »
Q. I am torn about making a key financial decision in my life. First, a little about myself. I worked for about seven years (actually, six years and 360 days) as a teacher in the Arctic. I resigned this year and have returned to the “south.”
Now, I have about a year to decide whether I cash out my federal public service pension plan or transfer the holdings into an annuity (about $93,000) and RRSP (about $71,500).
I have consulted with a financial planner at one of the large banks, who has made a seemingly convincing argument in favour of transferring the entire pension amount out. But I am well aware that I don’t know enough to be able to ask the right questions and make an informed decision. I am also aware the bank will benefit from my investment, as will my financial planner.
Can you give me some good advice on what I should do at this important juncture in my financial life?
–Kathy
A. I recently wrote an article on making the decision to keep your pension or take the cash, and you can read it here…
Now, I have about a year to decide whether I cash out my federal public service pension plan or transfer the holdings into an annuity (about $93,000) and RRSP (about $71,500).
I have consulted with a financial planner at one of the large banks, who has made a seemingly convincing argument in favour of transferring the entire pension amount out. But I am well aware that I don’t know enough to be able to ask the right questions and make an informed decision. I am also aware the bank will benefit from my investment, as will my financial planner.
Can you give me some good advice on what I should do at this important juncture in my financial life?
–Kathy
A. I recently wrote an article on making the decision to keep your pension or take the cash, and you can read it here…
While U.S. and Canadian portfolios have mostly recovered from their more than 30% drop in March, there is one key market participant who continues to struggle: the dividend-earning investors.
Since the COVID-19 crisis began, companies have been suspending their dividends in record volumes. In the U.S., 41 companies had suspended their payouts as of June 4 compared to 22 suspensions for all of 2008 and 10 for 2009, according to S&P Dow Jones Indices. In Canada, 84 companies have suspended or cut their dividends compared to 48 between 2008 and 2011, according to Mat Litalien at Stocktrades.ca.
Dividend increases are also down in the U.S., with just 157 companies increasing their payouts this year, the lowest number since 2009. (Some have increased, such as Target, because they’ve seen revenues rise during COVID-19.) Fortunately, decreases haven’t been as severe as during the recession yet, with 19 U.S. companies dropping their payment, compared to 40 in ’08 and 68 in ’09…
Since the COVID-19 crisis began, companies have been suspending their dividends in record volumes. In the U.S., 41 companies had suspended their payouts as of June 4 compared to 22 suspensions for all of 2008 and 10 for 2009, according to S&P Dow Jones Indices. In Canada, 84 companies have suspended or cut their dividends compared to 48 between 2008 and 2011, according to Mat Litalien at Stocktrades.ca.
Dividend increases are also down in the U.S., with just 157 companies increasing their payouts this year, the lowest number since 2009. (Some have increased, such as Target, because they’ve seen revenues rise during COVID-19.) Fortunately, decreases haven’t been as severe as during the recession yet, with 19 U.S. companies dropping their payment, compared to 40 in ’08 and 68 in ’09…
