How to go about securing the best Retirement Plan in Canada.
Latest News
Stock news for investors: Groupe Dynamite and Empire Co. release earnings + MORE Jun 20th
Here’s a round-up of news for Canadian investors this week.
Groupe Dynamite
Empire Co.
Featured RRSP Accounts
featured
EQ Bank
Build your retirement savings with 2.00% interes.... More »
Best high-interest savings accounts in Canada 2021 + MORE Jan 5th
Regular savings accounts offer very low interest rates, so if you want to earn on your deposits (rather than simply use your account as a temporary “holding tank” for funds you’ll soon be using for purchases, or directing to longer-term saving and investing vehicles), a high-interest savings a.... More »
Want to know exactly what you’ll get from CPP when you retire? Here’s how to find out Jul 20th
You can even get a precise estimate years in advance, thanks to a new online service that goes where the federal government won’t, writes David Aston..... More »
CPP Fund grows to $366.6B at end of June Aug 11th
Canada Pension Plan Investment Board says its main fund grew to $366.6 billion of net assets at the end of June, up $10.5 billion from the end of March..... 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 »
How, when and why to save using RESPs
– moneysense.ca
Presented by Assante Wealth Management
Never say no to offers of free money from the government. That’s my motto, or at least one of them. And as far as free money goes, Ottawa’s Registered Education Savings Plan (RESP) is among the most lucrative offers currently available to Canadians with kids.
You have to put some of your own money into an RESP of course, but for every $2,500 you contribute in a year, you will receive a 20% Canada Education Savings Grant (CESG), which means a $500 freebie each year you maximize contributions (within specified limits). As with the RRSP, investment income inside an RESP grows tax-free, although it generates no tax refund apart from the grant.
While there’s no limit on how much you can put into an RESP each year (there is a lifetime maximum contribution amount of $50,000 per child mind you); you’ll only receive the grant on the first $2,500 in contributions per year, or if you carry over unused contribution year from the year before, up to the first $5,000 in contributions…
How to boost your retirement income by 50%
– moneysense.ca
FlickrIf you were told there was a way to boost your income in retirement by 50% it would no doubt get your attention. It certainly got my attention, in a paper in a recent issue of the Journal of Retirement. The paper was co-authored by one of MoneySense’s panelists for the annual ETF All Stars panelists: Mark Yamada, president and CEO of Toronto-based PUR Investing Inc. The co-author is his colleague Ioulia Tretiakova, the firm’s director of quantitative strategies.
You might find the paper is bit too complex but this column aims to explain it in layman’s terms. While the strategy might be hard to replicate, it may at least get you thinking about your nest egg in a different way and lead to some good discussion with your advisor. It’s a new way to look at whether you should target income generation or maximizing returns when you maintain your nest egg in retirement. The paper is called “Autonomous Portfolio: A Decumulation Investment Strategy That Will Get You There…
The earlier you can identify the amount of income you need to live the retirement you want, the easier it is to build your retirement plan.
