How to go about securing the best Retirement Plan in Canada.
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Financial hardship withdrawal exceptions and increasing income in retirement + MORE Apr 4th
Ask MoneySense
I am in B.C., Canada. I moved my LIRA into a LIF two years ago. I have taken the maximum annual withdrawals for each year. I thought it’d be smart to start taking it. How can I get more out of it? I need the funds to help deal with bill payments. All my monthly i.... More »
Ontario government to delay ORPP rollout by one year + MORE Feb 19th
The Association of Canadian Pension Management is welcoming today’s announcement of a one-year delay to the Ontario Retirement Pension Plan.
“We welcome it,” says ACPM chief executive officer Bryan Hocking, calling it a “wise” move.
“I think they’ve had enough input from a number of di.... More »
How to boost your retirement income by 50% + MORE Nov 18th
Flickr
If you were told there was a way to boost your income in retirement by 50% it would no doubt get your attention. It certainly got my attention, in a paper in a recent issue of the Journal of Retirement. The paper was co-authored by one of MoneySense’s panelists for the annual ETF All Stars.... More »
RRIF withdrawals: What should seniors with million-dollar portfolios do? Nov 16th
Ask MoneySense
I have invested well and now I am in my 80s. My RIF is almost $3 million and is going to attract heavy taxes. My other investments are about $2 million, some with capital gains which we are going to donate to charity.
Any suggestions on how to reduce the huge tax liability? Should .... More »
How to model retirement income in Canada Feb 15th
Ask MoneySense
I am retired early at 58 years old. My wife is 56 years old. We live on a Christmas tree farm, which was paid for years ago.
I have a work pension, and my wife was bought out for her pension.
We have considerable RRSPs, farm income, and farm property. Where do w.... More »
Are you a saver or an investor?
– moneysense.ca
When most Canadians think about investing, they often picture one of two things: either a wealthier individual who spends hours sitting in front of a computer trying to pick the right stocks, or the bank manager they see a couple of times a year when they make an annual RRSP or TFSA contribution, with the money often going into a mutual fund they know little about.
A recent survey of 2,000 Canadians by BlackRock Asset Management suggests that investing remains unfamiliar territory for most Canadians, and while many of us are putting money aside, we’re not actively looking for ways to help it grow. Why the disconnect? “Mindset is part of it,” reads the BlackRock survey. “And saving rather than investing remains Canadians’ most frequently mentioned financial priority.” In fact, according to the 2015 BlackRock Global Investor Pulse Survey, a full 72% of Canadians identify themselves as “savers” while only 28% identify themselves as “investors…
A recent survey of 2,000 Canadians by BlackRock Asset Management suggests that investing remains unfamiliar territory for most Canadians, and while many of us are putting money aside, we’re not actively looking for ways to help it grow. Why the disconnect? “Mindset is part of it,” reads the BlackRock survey. “And saving rather than investing remains Canadians’ most frequently mentioned financial priority.” In fact, according to the 2015 BlackRock Global Investor Pulse Survey, a full 72% of Canadians identify themselves as “savers” while only 28% identify themselves as “investors…
How To Invest Wisely Using Your Travel Experiences
– walletpop.ca
Vacation travel is always fun, isn’t it? The days that lead up to the trip are probably the best part as you get together with your friends, family, or whoever is joining you, to plan the trip. Even if you are travelling alone, researching your destination and planning the trip builds up excitement.
Investing is no different than being on a long vacation. You need to start with a destination in mind, and build your plan to get there. Think of the last time you took a long vacation. How did you plan and execute? What was your experience? What lessons did you learn?
Here’s how to invest wisely by applying the lessons from your travel experiences while planning for your investment goals such as retirement, education funding, purchasing your first home, or simply saving up for a rainy day.
1. Know your destination. When planning a trip, you first refer to your wish list of places you want to visit, then pick the one at the top of the list and start building your travel plan.
Investing is no different…
