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Latest News
Tontine: Retirement plan of the future? + MORE May 28th
(Andy Roberts/Getty Images)
Advances in life expectancy coupled with the decline of employer-sponsored defined benefit pension plans has greatly raised anxiety levels about seniors outliving their money.
Life annuities have long been touted as one possible remedy for prolonged longevity, which is wh.... More »
Should I draw down my RRIF to avoid estate taxes? + MORE Apr 25th
Ask MoneySense
Is it a good idea to withdraw more money monthly than one needs from one’s RRIF? What about beginning a regularly automated transfer of this extra money to one’s non-registered investments so that there is less money in the RRIF account upon death? As a result, the estate will be .... More »
Market plunge scary, but more so for those near retirement + MORE Jan 29th
Worldwide market turmoil a painful lesson for those close to retirement about importance of balancing risk in portfolios.... More »
Nervous about protecting your retirement savings? Here’s what you shouldn’t do + MORE Apr 20th
As the stock markets tumble in the time of pandemic, it’s difficult to know what steps to take to protect savings..... More »
Screwed! Dec 31st
“Our retirement dreams are in tatters.” The line jumps out from an email to MoneySense from a reader we’ll call Ellen Thornton. The Thorntons’ retirement portfolio once stood at $2.2 million, but as of early 2014 it had plummeted about 90% to just $225,000. Their advisor—who works .... More »
How not to fund retirement
– moneysense.ca
A Windsor, Ont. woman has pleaded guilty to defrauding the federal government of more than $151,000 in CPP and OAS payments over 14 years. The unnamed woman must repay the money obtained with forged documents. She also received a 12-month conditional sentence and 12 months of probation.
In its first-ever Canadian Investor Survey, released Tuesday, BlackRock Canada warned retirement savers their nest eggs may have to last 25 years or more.
Introverts tend to be better investors than extroverts because they are less likely to be impulsive, a new study by academics at the Kellogg School of Management suggests.
Cheap and chic home decor appears to be a growing retail trend in Canada, first with the arrival of Target and now Zara Home coming to Ontario later this summer. The Yorkdale Shopping Center location will stock bedding, table and bath linens, furniture, tablewear, cutlery as well as home designs for children. A second location will also open in Laval Quebec.
In its first-ever Canadian Investor Survey, released Tuesday, BlackRock Canada warned retirement savers their nest eggs may have to last 25 years or more.
Introverts tend to be better investors than extroverts because they are less likely to be impulsive, a new study by academics at the Kellogg School of Management suggests.
Cheap and chic home decor appears to be a growing retail trend in Canada, first with the arrival of Target and now Zara Home coming to Ontario later this summer. The Yorkdale Shopping Center location will stock bedding, table and bath linens, furniture, tablewear, cutlery as well as home designs for children. A second location will also open in Laval Quebec.
The longevity paradox
– moneysense.ca
In its first-ever Canadian Investor Survey, released Tuesday, BlackRock Canada warned retirement savers their nest eggs may have to last 25 years or more.
Defining longevity as “the defining financial challenge of our age,” head of BlackRock Canada Noel Archard said in a release “the paradox is that investors recognize that their retirement savings will need to last longer than ever before but they aren’t making plans to ensure they will actually have the money they need.”
BlackRock surveyed 1,720 investors online early in May, focusing on those with at least $5,000 in investable assets (not counting real estate or workplace pensions). More than half of this group, or 56%, believe their savings will have to last at least 25 years in retirement. Younger investors think their nest eggs will have to last at least 30 years.
Unjustifiable optimism & dangerous passivity?
BlackRock considers Canadian investors to be “unjustifiably optimistic and dangerously passive” when it comes to assessing their retirement readiness…
Defining longevity as “the defining financial challenge of our age,” head of BlackRock Canada Noel Archard said in a release “the paradox is that investors recognize that their retirement savings will need to last longer than ever before but they aren’t making plans to ensure they will actually have the money they need.”
BlackRock surveyed 1,720 investors online early in May, focusing on those with at least $5,000 in investable assets (not counting real estate or workplace pensions). More than half of this group, or 56%, believe their savings will have to last at least 25 years in retirement. Younger investors think their nest eggs will have to last at least 30 years.
Unjustifiable optimism & dangerous passivity?
BlackRock considers Canadian investors to be “unjustifiably optimistic and dangerously passive” when it comes to assessing their retirement readiness…
Increasing CPP benefits comes at a price
– thestar.com
We’d all like to see an improvement to the benefits of the Canada Pension Plan. Here are some reasons they’re at the current level.You’re Ready for Retirement. Is Your Money?
– rhondasherwood.com
You know you’ve been working hard, planning and thinking about retirement for years. Now that the time has gotten close, you need to determine whether your money is as ready for retirement as you are. The answer to these important will determine whether you are ready for retirement or if you will need to make an adjustment to your plans for financial reasons.Are you still making mortgage payments?
You may not be ready to retire if you are still trying to pay off your home. With mortgage rates at historic lows, it may be less expensive to stay in your own home than to move into a rental unit. If you could eliminate mortgage payments from your budget, it would increase cash flow when you stop working.
Do you have debt?
Debt can be the great killer of retirement plans. Ideally, you will want to eliminate your debt before you retire. Your financial advisor can help you set up a plan to pay down your debt before your scheduled retirement date.
Are your children (or your parents) still financially dependent on you?
Another thing you will need to consider is your children and their respective ages…
