In Your Corner: My house is my retirement plan. Am I doomed? + MORE Aug 24th

There are plenty of retirement plan options in Canada! Stay on top of the best plans right here.
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“Which reverse mortgage is right for me?” + MORE Sep 14th

When Vancouver condo owners Maggie and Rob found out they were on the hook for $400,000 in improvement costs to their building and unit as required by an assessment from their Strata Council, they weren’t sure what to do. (We’ve changed their names and some details to protect their privacy.) .... More »

How much to take out of your RRSP in your 60s Oct 5th

Many retirees have the bulk of their retirement savings in registered retirement savings plans (RRSPs) or similar tax-deferred registered accounts. RRSPs need to be used to buy an annuity or more commonly converted to a registered retirement income fund (RRIF) by Dec. 31 of the year someone turns 71.... More »

Caisse to sell off remaining oil assets by next year - Sep 28th

Caisse to sell off remaining oil assets by next year  CBC.caQuebec pension giant Caisse to exit remaining oil-producing assets, setting up $10-billion green fund  The Globe and MailCaisse de dépôt to exit oil production by end of next year in new climate strategy  Fin.... More »

Best high-interest savings accounts in Canada 2021 + MORE Aug 31st

Generally savings accounts offer very low interest rates. So, if you want to earn on your deposits (rather than simply using your account as a temporary “holding tank” or directing to longer-term saving and investing vehicles), a savings account with a high interest is a no-brainer. However, whe.... More »
In Your Corner: My house is my retirement plan. Am I doomed?Owning a home is a great investment but we all should have other investments socked away for retirement — ideally inside a Registered Retirement Savings Plan (RRSP), says this week’s expert.

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If you find yourself in debt, you’re not alone: Nearly three-quarters of Canadians have some type of outstanding debt, according to Statistics Canada. Not only that, but COVID may have made matters worse: According to the MNP Consumer Debt Index, 30% of Canadians surveyed say the pandemic increased the debt burden on either themselves or their family.
Whether you’re juggling credit card balances, have a hefty car loan, line of credit or student loan—or a combination of multiple sources—managing your debt, and even paying it off, is possible. Here are some strategies to help you get out of the red faster.
1. Set a goal
If you’re serious about saving you need to set a goal so you know what you’re saving for. Whether it’s a trip to Japan you hope to take in a few months or saving for retirement, having a very specific goal will help you stay motivated and on track.
2. Track your dollars
The best way to get on track to saving is to spend less than you earn. Tracking your spending—either through a daily journal or an app—can help you do this…

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