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Do we need spousal RRSPs if our salaries are the same? + MORE Jul 29th
Q: I have a question about whether my wife and I should consider using a spousal RRSP. I’m 32, self-employed, paying myself an $80,000 annual salary and have a personal RRSP of around $160,000. My wife is also 32 and she’s employed with a company that provides a defined benefit pension. .... More »
Live from Retire Rich 2015 + MORE Apr 9th
We’re live blogging from Retire Rich starting at 5:15 p.m. EST on Wednesday, April 8, 2015. (James Porter/Getty Images)
Missed our Retire Rich 2015 event? You can catch some of what leading retirement-planning experts and MoneySense personalities including Duncan Hood, Bruce Sellery, Preet B.... More »
Can you have too much invested inside an RRSP? + MORE Dec 9th
While not quite up there with outliving your money, for many seniors the idea of dying with too large an RRSP (Registered Retirement Savings Plan) or RRIF (Registered Retirement Income Fund) rankles. Handing over nearly half your nest egg to Ottawa after a lifetime of tax-deferred saving seems to ma.... More »
7 simple differences between RRSPs and TFSAs + MORE Mar 18th
Registered Retirement Savings Plans (RRSPs) and Tax Free Savings Accounts (TFSAs) are the go-to products for Canadians who are serious about socking away some money for the future, whether it’s for retirement or for a big purchase, like a house. While the two products are similar in many ways,.... More »
What to expect when receiving OAS at 65 + MORE Jun 10th
(Shutterstock)
Right after tax season I received in the mail one of those little brown envelopes from the federal government. No, they weren’t after me for more tax money but the opposite: it was from Service Canada and they were proposing to send ME money as of my next birthday. The letter inform.... More »
How kids can play hockey for less
– moneysense.ca
Getty; iStockSure, it’s the best game you can name—but hockey can empty a parent’s wallet like no other sport. These tips will keep your kids on the ice without delaying your retirement.
Score with savings
Save the expensive gear for when the little ones stop growing and buy secondhand from stores like Play it Again Sports, or through sales/swaps organized by minor hockey associations or online classifieds. But even for brand-new equipment, kids don’t need sticks costing more than $75 or skates over $300, says Phillip McKee of the Ontario Hockey Federation.
Host a tournament
This year, the Nepean Vipers—a novice-level hockey team in the nation’s capital—slashed its players’ fees to nearly zero by hosting a tournament in return for free admission and the opportunity to do fundraising with the crowds that generated $2,000. By recruiting tournament sponsors they raised another $1,000.
Speak up on team fees
Let the coaches know you want to keep costs at an affordable level…
A new report from the Fraser Institute is questioning whether the group that manages the CPP is being fully transparent about the costs of investment.
Retirement dream fades living on $20,880 a year
– thestar.com
Monday Makeover looks at a couple who retired with the dream of painting and selling their art for a living. Things didn’t turn out as they’d hoped.Calculating your CPP payout
– moneysense.ca
iStockTrying to figure out how much you’ll get from the Canada Pension Plan when you start getting your payouts? Don’t rely on Service Canada’s official online CPP calculator (servicecanada.gc.ca). While its estimates are reasonably accurate if you’re close to your CPP start date, its future projections can be way off the mark. That’s because CPP entitlements depend on complex earning patterns which the calculator doesn’t fully reflect. If your average level of earnings continues unchanged right up until you retire, the calculator works fine, but it can get tripped up by major changes. It also doesn’t reflect adjustments for periods of low income due to raising kids. If you need a more accurate projection of future benefits, consider hiring CPP expert Doug Runchey. He runs a website at drpensions.ca and his services start at $25.
The post Calculating your CPP payout appeared first on MoneySense.
CPP Investment Board is no lean machine – StarPhoenix
– news.google.ca
Financial PostCPP Investment Board is no lean machineStarPhoenixIt is increasingly widely recognized that there is something very amiss at the Canada Pension Plan Investment Board. What began in 1999 as a lean, tightly controlled fund to invest surplus contributions to the plan has since become a costly monument to …CPPIB costing more, but will it deliver more?The Globe and Mailall 53 news articles »
