All about Retirement Planning in Canada. Learn the ins and outs and get the latest news.
Latest News
Can a non-resident open an investment account in Canada? Sep 21st
I moved to Sweden to study in 2021 and I am no longer considered a resident of Canada (to my understanding). However, I have some money to invest. I am not allowed to contribute to my TFSA which leaves me with contributing to an RRSP or an ISK (Swedish tax efficient account). In short, you pay ~0.40.... More »
Covering Up the Pension Crisis + MORE Aug 26th
States and actuaries are trying to stifle debate about the growing shortfall in fund assets..... More »
Maxed out your TFSA and RRSP? Here’s where to put cash Jan 24th
Canadians have many options for saving and growing their money. They can use registered savings and investment accounts, which offer powerful tax advantages. If you’re saving up a retirement nest egg, you likely have a registered retirement savings plan (RRSP) and a tax-free savings account (TFSA).... More »
DIY investing for busy people—the portfolio management tool you didn’t know you needed + MORE Jul 13th
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.... More »
Investing tips for dual citizens of Canada and the U.S. + MORE Feb 3rd
Q. I am a dual Canadian/U.S. citizen. Due to this, I cannot make use of a TFSA, so once my RRSP is maxed out, I’m stuck with non-registered accounts. I plan on putting a large part of my savings into a U.S. robo-advisor or U.S.-listed ETFs. As for my RRSP, I was wondering whether I should foc.... More »
How not to prepare for retirement
– moneysense.ca
Despite the steady flow of retirement savings crisis headlines in recent years, it seems many Canadian couples haven’t even discussed the topic with their significant others, let alone started a savings regime.Last week, RBC reported that 68% of not-yet-retired Canadians 50 or older who participated in its annual retirement poll have yet to discuss their post-career lives with their partners. Eighty-six per cent are reluctant to discuss health issues, 81% don’t want to raise the topic of what happens if one of them dies sooner than anticipated and two-thirds haven’t discussed what they will do together in retirement. And astonishingly, only 36% have discussed how to finance retirement and where they would live once it occurred.
Retirement preparedness is no better in the United States. Thirty per cent of American workers have less than US$1,000 in savings and investments while three-in-four have less than US$30,000 saved in their retirement accounts, according to data from 2012…
Generation Y: Tips for Helping Your Kids and Grandkids Survive Financially
– rhondasherwood.com
If it seems that there is a constant stream of negative press surrounding Generation Y’s abilities to financially survive in today’s economy, you’re right. They have extraordinarily high tuition fees that continue to climb at a steady pace, home prices in the lower mainland are pretty much unaffordable for most people and retirement – well that will most likely be a thing of the past by the time your kids or grandkids reach age 65. Things do look pretty bleak for Gen Y. There are some things you can do to help your kids and grandkids survive financially.
Plan Now to Help Your Kids and Grandkids Survive Financially
1. Help them Save for their Education
Young people today are burdened with student loans and lack of job opportunities. If you are financially able to, direct any child benefits or gifts of money your child receives into a Registered Educational Savings Plan (RESP). Show your kids the power of saving by letting them see their RESP statements and encourage them to put babysitting monies, or other income earned into it…
Couple, 64, wonder if they are OK for retirement
– thestar.com
Monday Makeover looks at empty nesters in their 60s who have done right things but wonder what they could do to make retirement smoother
