Do bonds still make sense for retirement savings? + MORE Apr 27th

Not sure how to make a retirement plan? Read on…
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I’ve realized that my large RRSP would generate a very large income tax bill if I die in the near future. I don’t have a spouse, or anyone who qualifies as a beneficiary to my RRSP on a tax-deferred basis. How can my executor pay my income taxes if it takes a year to get probated?—Carol  .... More »
Now that it’s clear interest rates bottomed some time ago and are well on an upwards trajectory, we’re seeing headlines declaring the “death of bonds.” Notable was the Globe & Mail article by veteran columnist and author Gordon Pape, announcing he was “getting out of bonds.”

What to expect from bonds

Considering that Pape is well past the traditional retirement age of 65, that must have shocked many of his retired readers. But he warned in his April 5 article that there is still “much more pain ahead” for bond investors. He said all but two of 40 iShares bond exchange-traded funds (ETFs) sold in Canada were in the red. Some were down 10% or more, like the iShares Core Canadian Long Term Bond Index ETF (XLB), down 11.8% from Jan. 1, 2022, to March 31, 2022. Even short-term bond ETFs, like Vanguard’s Short Term Bond Index ETF (VSB/TO), have suffered losses, albeit a modest 1% for 2021. If these were stock losses, he said, it could be called a crash.

In a similar vein were the pronouncements by financial planner Ed Rempel, who argues retirees should be out of bonds and ratchet up their personal risk tolerance to take on more stock exposure…

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Stuck in the ‘culture of now’ and going into debt to treat yourself? Here’s how to break out and start saving for your future selfThe ‘culture of now’ is preventing people from making retirement planning a priority, 85% of financial professionals said in a survey.

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