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Making sense of the markets this week: December 10, 2023 Dec 14th
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
Interest rates stay the same—bank accounts, not so much
As was widely anticipated, the Bank of Canada (BoC) chose to k.... More »
TFSA vs RRSP: How to decide between the two Jun 29th
One of the most common questions out there is whether to invest in a registered retirement savings plan (RRSP) or a tax-free savings account (TFSA). Both will help you save, and save on taxes, but each works in different ways. Understanding these investments will help you know when to use one or the.... More »
Financial planning in your 70s + MORE Oct 12th
When most people think about financial planning, they think about saving and investing for retirement. That is certainly a part of it, but financial planning is much more holistic.
Here are a few financial planning strategies for those approaching or into their 70s. If you are not there yet, bookmar.... More »
How to plan for retirement for Canadians: A review of Four Steps to a Worry-Free Retirement course + MORE Oct 26th
With November incoming and being Financial Literacy Month in Canada, it seems appropriate to devote this edition of the Retired Money column to a new Canadian DIY retirement course created by MoneySense’s “Making sense of the markets” columnist Kyle Prevost.
Entitled 4 Steps to a .... More »
Should you borrow to pay expenses on an investment property? + MORE Nov 18th
Q. I have an investment property that I rent out. Now that I’m retired, I would like to use the income to supplement my retirement income. That would leave me with no money to pay the expenses on the property (mortgage payment, maintenance, utilities, etc.).
I’m wondering two things: One, can I .... More »
Brian Paul Goodman
– macleans.ca
Fiercely competitive and hard-working, he rose through the legal ranks. After a long career, he had big retirement plans.
How not to outlive your retirement funds: The 4% rule
– thestar.com
How much cash can retirees withdraw from investments each year and outlive their income? One rule of thumb is 4 per cent.TD Direct Investing disappoints on US dollar RRSPs
– moneysense.ca
It is more than 3 years now since RBC Direct became the first big bank discount broker to offer a US Dollar RRSP. The next year, BMO InvestorLine followed suit and allowed clients to segregate the US dollar investments in their RRSPs. While TD Waterhouse (now called TD Direct Investing) reacted to these moves by implementing an auto wash feature, it is disappointing to note that the broker still does not offer a true US Dollar RRSP account. It is doubly disappointing because TD Direct’s customer service representatives had been hinting to clients that a US Dollar RRSP is in the works and expect it to launch in the first half of 2013.
It is easy to quantify the cost of sticking with TD Direct Investing when some of the competition offer true US Dollar RRSP accounts. The automatic washing helps in saving on currency conversion charges when selling a security denominated in US dollars and buying another USD security even on different days. But, due to the lack of a true US Dollar RRSP, US dollar dividends received by a TD Direct Investor are forcibly converted to Canadian dollars and charged a fee of approximately 1…
It is easy to quantify the cost of sticking with TD Direct Investing when some of the competition offer true US Dollar RRSP accounts. The automatic washing helps in saving on currency conversion charges when selling a security denominated in US dollars and buying another USD security even on different days. But, due to the lack of a true US Dollar RRSP, US dollar dividends received by a TD Direct Investor are forcibly converted to Canadian dollars and charged a fee of approximately 1…
7 reasons to pursue financial independence
– moneysense.ca
Most of us don’t need reminders of why we want to retire some day. As the decades fly by, salaried jobs can be stressful and that doesn’t seem about to change in an increasingly competitive global economy. There may come a time when bosses, clients, ambitious co-workers, the commuting routine and other aspects of working may start to pale. The sheer time and energy needed to be a full-time worker also takes away from other things: time with family, time to for the arts, sports, spiritual pursuits or other forms of leisure.
In short, no one has to sell us on the idea of retirement. You don’t need seven reasons to retire. You already know why you’re saving for an eventual retirement and it boils down to one word: Freedom.
And yet it seems people do need to be reminded of the benefits of financial independence. As anyone who has happened on this blog well knows, I do not regard financial independence (or what I call “Findependence” for short) and retirement as the same thing…
In short, no one has to sell us on the idea of retirement. You don’t need seven reasons to retire. You already know why you’re saving for an eventual retirement and it boils down to one word: Freedom.
And yet it seems people do need to be reminded of the benefits of financial independence. As anyone who has happened on this blog well knows, I do not regard financial independence (or what I call “Findependence” for short) and retirement as the same thing…
