Not sure how to make a retirement plan? Read on…
Latest News
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 »
Why GICs might be a better investment than stocks and bonds Aug 17th
Financial markets have fallen quite dramatically in 2022, and that has made choosing investments even more difficult than usual. The turmoil has made many investors nervous about investing in stocks. The Toronto Stock Exchange (TSX) was down nearly 10% for the first half of 2022, and the S&P 500.... More »
When It Comes to Retirement, I'm With Cicero Jan 13th
The great Roman orator thought aging and retiring free us from destructive ambition and competition..... 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 »
What do to with a spousal RRSP at age 71 Jun 15th
Ask MoneySense
My question is in regards to a spousal RRSP that I have set up for my wife years ago. When she turns 71, do we have to turn it into something like a RRIF, which I did for my RRSP (I am older than her) and then withdraw from it annually? Or, could it be directly transferred to her TFSA.... More »
How helping the kids with a down payment affects you
– moneysense.ca
OTTAWA – Helping your children with a down payment on their first home may be tempting, but financial advisers say to be sure to fully grasp how it will affect your own retirement planning before cutting a cheque.
Kristine Skinner, financial adviser with BlueShore Financial in West Vancouver, B.C., says before deciding to help, parents need to understand how it will affect their own net worth and overall financial plan.
“I would love to see both the parent and the child in my office so that they both understand the implications and expectations for every scenario,” Skinner says.
“With the parent and the child being in here, we can go over different considerations of the complexity of what they are planning on doing and any of the risks associated with the purchase.”
Saving 20% to buy a house? It’ll take you 12 years »
A survey by the Bank of Montreal earlier this year found that 65 per cent of millennials said that they would rely, to some extent, on parents or other family members for financial assistance for as much as 10 per cent of the purchase price of their first home…
Kristine Skinner, financial adviser with BlueShore Financial in West Vancouver, B.C., says before deciding to help, parents need to understand how it will affect their own net worth and overall financial plan.
“I would love to see both the parent and the child in my office so that they both understand the implications and expectations for every scenario,” Skinner says.
“With the parent and the child being in here, we can go over different considerations of the complexity of what they are planning on doing and any of the risks associated with the purchase.”
Saving 20% to buy a house? It’ll take you 12 years »
A survey by the Bank of Montreal earlier this year found that 65 per cent of millennials said that they would rely, to some extent, on parents or other family members for financial assistance for as much as 10 per cent of the purchase price of their first home…
From one office and 164 employees 10 years ago, the CPP investment board has 1,266 people in seven global offices. Is the cost worth it?
