There are plenty of retirement plan options in Canada! Stay on top of the best plans right here.
Latest News
Stock news: Dividend hikes, earnings results, and what moved Canadian stocks this week + MORE Feb 7th
Here’s a round-up of news for Canadian investors this week.
Suncor
ATS
Brookfield
Thomson Reuters
BCE
Canada Goose
Featured RRSP Accounts
featured
EQ Bank
Build your r.... More »
Corporate investments for retirees + MORE Feb 15th
I’m not using my Canadian corporate company anymore. I’m 67, delaying CPP and OAS. I have $210K in my company that I need to take out. What is the best way to do this with minimal tax?
My accountant is working with me but really doesn’t think it’s the best strategy. He has a three-y.... More »
25 personal finance highlights from the last 25 years + MORE Oct 18th
Over the last 25 years, personal finance in Canada has transformed enormously. Major economic shifts, new technology and evolving consumer behaviour have led to new policies and events. Here are some of the most interesting personal finance developments in the last two and a half decades:
.... More »
Making sense of the markets this week: August 28 + MORE Aug 31st
Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors.
Banking on stability and caution
Canadian investors love their banks. Year in and year out, banks provide dependable dividend growt.... More »
What to do with U.S. dollar RRSPs in retirement + MORE Jun 8th
Ask MoneySense
I am 70 and have already turned my RSP into a RIF. However, I also have a U.S. RSP which will need to be dealt with next year at the latest. What do I do with it? Roll it into my Canadian RIF within the next year? Leave it as a separate RIF and take the necessary money from each .... More »
A guide to the best robo-advisors in Canada for 2020
– moneysense.ca
The robos are everywhere. What was once a little-known investing tool for tech-savvy investors is now commonplace, with everyone from newbie savers to retired boomers using robo-advisors to help manage their money.
While advisors and traditional fund companies still manage the majority of money in Canada, with people paying more attention to fees and with interest in exchange-traded funds (ETFs) increasing, robo-advisors will only see their assets under management rise from here. According to the research aggregator Statista, Canadian robos will hold an estimated US$8.1 billion in assets under management in 2020, which, it predicts, will rise to US$16.6 billion by 2023, for a 26.7% compound annual growth rate.
As time goes on, these companies are also getting more sophisticated in their offerings. Some robos now offer chequing accounts, others let you pick stocks or buy insurance or offer real-life financial advice. You can invest in all kinds of accounts too, including Tax-Free Savings Accounts (TFSAs), Registered Retirement Savings Plan (RRSPs), Registered Retirement Income Fund (RRIFs), Registered Education Savings Plans (RESPs) and more…
While advisors and traditional fund companies still manage the majority of money in Canada, with people paying more attention to fees and with interest in exchange-traded funds (ETFs) increasing, robo-advisors will only see their assets under management rise from here. According to the research aggregator Statista, Canadian robos will hold an estimated US$8.1 billion in assets under management in 2020, which, it predicts, will rise to US$16.6 billion by 2023, for a 26.7% compound annual growth rate.
As time goes on, these companies are also getting more sophisticated in their offerings. Some robos now offer chequing accounts, others let you pick stocks or buy insurance or offer real-life financial advice. You can invest in all kinds of accounts too, including Tax-Free Savings Accounts (TFSAs), Registered Retirement Savings Plan (RRSPs), Registered Retirement Income Fund (RRIFs), Registered Education Savings Plans (RESPs) and more…
Planning for retirement with little or no savings to draw on
– moneysense.ca
Despite their best intentions some Canadians, facing a variety of financial challenges throughout their working lives, may not be able to save much towards retirement. Yet it’s difficult to know how to manage in those circumstances, as so much of the financial planning advice that’s shared widely is catered to wealthier people.
Retiring with little to no savings can be difficult, but it is not impossible.
Canada Pension Plan (CPP)
For a retiree who has worked most of their life, the Canada Pension Plan (CPP) will replace a portion of their historical earnings. The CPP retirement pension is meant to replace 25% of what you earned, on average, over your career, up to a certain limit. A CPP enhancement began in 2019 that will gradually increase that replacement rate to 33% over time.
In 2020, the maximum CPP retirement pension payment at age 65 is $1,176 per month—that’s $14,112 per year. However, not all retirees have made enough CPP contributions during their careers to receive the maximum…
Retiring with little to no savings can be difficult, but it is not impossible.
Canada Pension Plan (CPP)
For a retiree who has worked most of their life, the Canada Pension Plan (CPP) will replace a portion of their historical earnings. The CPP retirement pension is meant to replace 25% of what you earned, on average, over your career, up to a certain limit. A CPP enhancement began in 2019 that will gradually increase that replacement rate to 33% over time.
In 2020, the maximum CPP retirement pension payment at age 65 is $1,176 per month—that’s $14,112 per year. However, not all retirees have made enough CPP contributions during their careers to receive the maximum…
DIY investing for busy people—the portfolio management tool you didn’t know you needed
– moneysense.ca
If you’ve been on the fence about managing a self-directed brokerage account because you think DIY investing is too much of a time commitment, think again. While DIY investing certainly can be an all-consuming “hobby” filled with spreadsheets, calculations and trade activity, it doesn’t have to be—thanks to a portfolio management tool called Passiv*. It makes DIY investing for retirement easier by handing many of those all-consuming tasks for you.
Passiv works in tandem with your Questrade brokerage account to put your portfolio management on autopilot.
Still not convinced? Here are some of the ways Passiv removes the roadblocks to DIY investing, so even those with the busiest schedules can go do-it-yourself investing.
Portfolio monitoring with Passiv
One of the most important aspects of managing any portfolio is maintaining an asset allocation that aligns with your risk tolerance and investment goals. If you’re young and using it to save for retirement, you might opt for an aggressive portfolio that’s 75% equity assets (like stocks and growth funds) and 25% bonds or other fixed-income investments…
Passiv works in tandem with your Questrade brokerage account to put your portfolio management on autopilot.
Still not convinced? Here are some of the ways Passiv removes the roadblocks to DIY investing, so even those with the busiest schedules can go do-it-yourself investing.
Portfolio monitoring with Passiv
One of the most important aspects of managing any portfolio is maintaining an asset allocation that aligns with your risk tolerance and investment goals. If you’re young and using it to save for retirement, you might opt for an aggressive portfolio that’s 75% equity assets (like stocks and growth funds) and 25% bonds or other fixed-income investments…
