Not sure how to make a retirement plan? Read on…
Latest News
What’s my RRSP contribution limit for 2022? Nov 16th
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 this year is April 30, 2023, and since that date falls on a Sunday, you actually have until May 1, 2023 to file.) You can help ensure that.... More »
Can I receive a share of my ex’s military pension? + MORE Dec 16th
Q: I was married to a Navy man, went through mediation and it was in our divorce settlement that I was entitled to receive half of his military pension. I thought I had to wait until he turned 65 to be entitled to half but I’ve been told that as soon as he left the Navy he was getting his pension..... More »
The upside to waiting until age 70 to take CPP benefits + MORE Oct 5th
Q. I am retiring next year at age 65 and I don’t know if I should take my CPP immediately, or wait. My friends and other people I know from work took their CPP when they retired and they are telling me I should take it when I retire. Are they right? When is the best time to draw CPP?
–Jit
A. H.... More »
How to Make the Most of Your RRSPs for the 2013 Tax Year + MORE Feb 12th
Registered Retirement Savings Plans (RRSPs) are an important part of your overall financial plan. They allow you to invest funds that will grow on a tax-free basis until they are withdrawn. To get the most out of your RRSPs, you need to understand how they will benefit you.
RRSP Do’s and Don&#.... More »
Making sense of the markets this week: July 3 + MORE Jul 6th
While regular “Making sense of the markets” columnist Kyle Prevost is on vacation, Dale Roberts and I are filling in. Dale’s piece ran last week, and it’s my turn this week. Dale will return next week, after which a well-rested Kyle will resume.
Speaking of Dale, this week he wrote .... More »
Many companies in Canada and around the world are struggling to meet pension obligations because of the sustained period of low interest rates and choppy stock markets
Crush your mortgage
– moneysense.ca
It was a sun-drenched autumn afternoon in 2005 when Heidi Croot and her husband Phil Carey found themselves barreling down Highway 401 toward the picturesque lakeshore community of Port Hope, Ont. Armed with a picnic lunch, the couple was in a celebratory mood. finally, they were following through on a promise made to each other more than a decade ago: to pay off their mortgage early, free themselves from their well-paying but stressful corporate jobs in downtown Toronto and downsize to the countryside. Croot and Carey, then 47 and 59, had been living north of the city in the commuter town of Thornhill. They were tired of suburban sprawl, not to mention their daily two-plus-hour slog to and from work. Small, quiet Port Hope, some 100 km away from the gridlock and congestion of Toronto, would soon be their new home.
Croot and Carey paid off their 25-year mortgage in 2002, 10 years earlier than expected. With the freed-up income, they were finally in a position to focus solely on building up their retirement savings—and that’s exactly what they did, continuing on with their regular jobs for three years prior to moving to Port Hope…
Croot and Carey paid off their 25-year mortgage in 2002, 10 years earlier than expected. With the freed-up income, they were finally in a position to focus solely on building up their retirement savings—and that’s exactly what they did, continuing on with their regular jobs for three years prior to moving to Port Hope…
Older workers: At this company, average employee is 65
– thestar.com
Half of a Boston company’s workforce is part-time senior citizens, countering myths about value of older workers. No Freedom 55 here
