Retirement planning getting you down? There are always smart ways to plan the financial aspects of your retirement.
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What’s my RRSP contribution limit for 2022? + MORE Dec 21st
This RRSP contribution room calculator will get you the numbers you need, but keep reading for a better understanding of RRSPs.
If you’re like many Canadians, you’re hoping you’ve paid enough tax in 2022 and may even be looking forward to a hefty tax refund. (The deadline for filing th.... More »
Planning to cash in on your home to help fund retirement? Here’s how to do it right + MORE Dec 14th
Elizabeth and Charles have a home worth about $1.3 million. They’re considering selling and downsizing to a smaller unit to bulk up retirement savings. We ask experts for advice on the right move..... More »
What happens at the end of a reverse mortgage? Mar 9th
When you get a reverse mortgage, you tap the equity in your home without having to sell it. There are several advantages to having a reverse mortgage, for those who qualify: For one, you gain access to part of the cash value of your home, increasing your liquidity. Setup and legal fees are rolled in.... More »
Draft securities regulation would revise status of pension funds + MORE May 6th
New version of Capital Markets Stability Act open for public comment until July 6
.... More »
Stock news for investors: Barrick leads earnings gains as major Canadian companies report mixed Q3 results + MORE Nov 15th
Here’s a round-up of news for Canadian investors this week.
Barrick
MEG Energy
Loblaw
Manulife
Linamar
Brookfield
Hydro One
MDA Space
George Weston
Featured RRSP Accounts
featured
EQ Bank
.... More »
Hong-Kong-based executives of the Canada Pension Plan Investment Board first approached officials at Postal Savings Bank of China in 2013 with a view to invest. Two years later, the CPPIB pulled off a deal that would see it invest US$500 million in the company, one of China’s biggest retail banks. That move in late 2015 […]
The TD Bank survey also found that many young Canadians believed they could use RRSP savings to pay for many things that are not allowed.How I’m preparing for retirement in a bear market
– moneysense.ca
When you’re in the Retirement Risk Zone, as I am, the last thing you want is to watch decades of savings go down the drain in a bear market. With most markets already down 20% around the world, you could argue the damage has already been done but there are a sufficient number of pessimists out there who warn the worst case could be down still further, for a peak-to-trough decline of as much as 50%, as occurred in 2007-2008.
Capital preservation is the name of the game when you’re near or at retirement. Recall that finance professor Moshe Milevsky’s definition of the Retirement Risk Zone is the five years before and five years following your projected retirement date. I’m nearing 63 and am semi-retired so take bear markets seriously. A bear market at this stage can seriously undermine one’s future plans.
With the caveat that timing the market is next to impossible, I can describe what I’m doing personally. Much of what follows I owe to my own financial advisor, who does not wish to be identified in this article…
Capital preservation is the name of the game when you’re near or at retirement. Recall that finance professor Moshe Milevsky’s definition of the Retirement Risk Zone is the five years before and five years following your projected retirement date. I’m nearing 63 and am semi-retired so take bear markets seriously. A bear market at this stage can seriously undermine one’s future plans.
With the caveat that timing the market is next to impossible, I can describe what I’m doing personally. Much of what follows I owe to my own financial advisor, who does not wish to be identified in this article…
CPP Disability or CPP Retirement Pension – Which is the Best Option for You?
– rhondasherwood.com
Under the federal government’s rules, you can decide to start collecting Canada Pension Plan (CPP) benefits as early as age 60. One of the factors to consider as you get closer to the age when you can receive your pension is your overall health. You may have to leave the paid workforce earlier than you would have preferred if your health makes it impossible for you to hold down a job. You may need to decide whether to apply for CPP disability or CPP retirement pension benefits, and this is a decision you need to think about very carefully.
CPP Disability or CPP Retirement Pension: What you Need to Know
CPP Retirement Pension Benefits
If you decide to apply for CPP benefits at age 60, you will receive less than if you had waited until age 65. The maximum amount you could receive from CPP at age 65 is $1,092.50. The average amount paid out to a 65-year-old recipient is $629.33.
Applying early means your benefit will be reduced by 0.5 percent for each month you received it before age 65 (pre 2012 rules)…
