How to go about securing the best Retirement Plan in Canada.
Latest News
CPPIB grows presence in Hong Kong logistics real estate with Goodman partnership + MORE Dec 9th
TORONTO _ The Canada Pension Plan Investment Board is investing $320 million in a partnership with more than a dozen modern logistics properties in Hong Kong.
The Goodman Hong Kong Logistics Partnership, created in 2006, has assets worth about C$4.7 billion including a 50 per cent interest in Goodma.... More »
Proposed CPP Expansion To Be Put Under The Microscope Sep 9th
OTTAWA — The federal government's bid to expand the Canada Pension Plan is being put under the microscope, including an examination of the impact it could have on sluggish economic numbers — or so the opposition hopes.
The Commons finance committee is scheduled to hold an emergency meeting Frid.... More »
Reducing risk in an RESP: How to invest as your kid approaches college or university + MORE Oct 5th
If you’ve opened a registered education savings plan (RESP) for your child or grandchild, congratulations. You’ve taken the first step towards financing their future college, university or trade school education. And now your family can start benefiting from generous government grants worth thou.... More »
What Sears retirees can do about the reduced DB pension + MORE Nov 4th
Like Stelco and Nortel before it, thousands of pensioners of Sears Canada are experiencing firsthand what happens to corporate Defined Benefit pension plans when a business fails.
In October, Ontario’s Superintendent of Financial Services (FSCO) appointed Morneau Shepell to administer Sears Canada.... More »
Making sense of the markets this week: December 24, 2023 Dec 28th
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
It’s a tough job, but…
It’s really hard to predict what the investment world will do. It’s even harder to predic.... More »
Can a Reverse Mortgage Pay for Home Care in Retirement?
– rhondasherwood.com
How do you picture your retirement? If you are like most people, your focus is on havingtime to spend on activities you enjoy and the people you care for the most. The last thing on your mind is how to pay for health care services if you, your spouse, or partner becomes disabled. While the ideal scenario is to live a long, healthy life, most people have some level of disability during their retirement years. Does it make sense to use a reverse mortgage to pay for home care in retirement to keep other savings intact as long as possible?What is a Reverse Mortgage?
A reverse mortgage is a type of loan which is available to seniors. You would borrow money against the equity in your home. Assuming your home is fully paid off, the equity is the market value of your home. If you have an existing mortgage on your home, your equity is the difference between what you owe on your house and its value.
One of the advantages to taking out a reverse mortgage is that you do not need to make any monthly payments on the loan during your lifetime in many cases…
Go DIY on your own CPP
– moneysense.ca
You’ve no doubt heard lots of talk these days about government pensions. More than a few plans have been floated for expanding the Canada Pension Plan (CPP) or introducing entirely new programs with names like PRPPs, VRSPs and ORPP.Some of these schemes will never be more than figments, and even those that become concrete reality will take some time to be implemented. Instead, if you don’t want to wait for government initiatives to bear fruit, you can always consider creating something equivalent on your own. Of course, nothing compares to the CPP when it come to ease of providing a rock-solid set pension payout without conscious effort. But if you use the CPP as a benchmark and break down its key features point-by-point, you can create something somewhat similar in your own unofficial personal pension plan. You won’t be able to replicate all CPP’s advantages fully, but you do have a lot more flexibility to meet your individual needs and also avoid CPP’s little known dark side…
