Retirement planning getting you down? There are always smart ways to plan the financial aspects of your retirement.
Latest News
Remarrying in retirement can be financially complicated + MORE Jun 19th
If divorced seniors remarry in retirement there can be complications with ex-spouses, step children and retirement savings..... More »
First home savings account: A Gen Z guide to achieving home ownership + MORE Mar 29th
Becoming a home owner is a significant milestone that many young adults wish they could afford. More than two in five Canadians (43%) plan to purchase a home in the next five years, and 24% of them have yet to start saving for a down payment, according to a study conducted by The Harris Poll for Ner.... More »
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 »
How does age affect life insurance rates? + MORE Sep 14th
Most of us go through life assuming we’ll reach a ripe old age—and that’s fair, because most of us do. But if you have dependents, it’s wise to protect them from the financial fallout of your death—even if you’re still young and healthy—by getting life insurance. Your age is a pretty b.... More »
How couples can combine finances Jan 22nd
There’s no one size fits all approach when it comes to combining bank accounts and credit cards. The trick is to be open and honest. As long as your plan works for both of you, you’ll be better in the long run, especially come retirement, explains Ask MoneySense columnist Bruce Sellery o.... More »
The Canadian Payroll Association today released its annual national employee survey citing a five percentage point decline (47% to 42%) in the number of Canadians who would be in “financial difficulty” if their pay were delayed even a week. The stats are slightly worse in Ontario, although the trend is also in the right direction: instead of more than half of Ontarians (52%) living pay cheque to paycheque, the percentage has fallen to less than half, or 48%.
There is of course a huge gulf between barely being able to make the next month’s rent or mortgage payment, and the seemingly universal goal of early retirement. Clearly, half of Canadians haven’t even got out of the starting gate when it comes to establishing a modicum of financial independence. According to the CPA, 40% of employees in Canada are spending all of or more than their net pay, with Ontario mirroring that rate.
Never mind retirement or what I call “findependence.” The scary aspect illuminated by the CPA is that apparently half the country’s workers don’t even have that staple of financial planning called the emergency cushion: typically financial advisers recommend having an emergency cushion of at least six months worth of expenses…
There is of course a huge gulf between barely being able to make the next month’s rent or mortgage payment, and the seemingly universal goal of early retirement. Clearly, half of Canadians haven’t even got out of the starting gate when it comes to establishing a modicum of financial independence. According to the CPA, 40% of employees in Canada are spending all of or more than their net pay, with Ontario mirroring that rate.
Never mind retirement or what I call “findependence.” The scary aspect illuminated by the CPA is that apparently half the country’s workers don’t even have that staple of financial planning called the emergency cushion: typically financial advisers recommend having an emergency cushion of at least six months worth of expenses…
Is it Time to Retire the Word “Retirement”?
– rhondasherwood.com
Baby Boomers are reaching retirement age and defining what this stage of life means to them. The world is changing and the financial safety net that previous generations counted on, such as employer pension plans, may no longer be available. At the same time, the idea of being able to blow out 100 candles on a birthday cake may become a reality for more of us. Is it time to retire the word “retirement”?Centenarians in Canada
According to the 2011 Census, 5,825 people in Canada had celebrated their milestone 100th birthday. This group is growing at a rate (25.7 percent), which is second only to the age 60-64 age group (29.1 percent). If these numbers keep increasing at this rate, by the year 2031, more than 17,000 people in Canada will have joined the “100 Years and Older” Club. By 2061, their numbers will have swelled to nearly 80,000 people or approximately the population of Victoria (2011).
Retirement that Lasts for Decades
Today’s retirees are young and vital, and likely have a completely different idea of what retirement means to them than previous generations did…
As we live longer, 5 things to consider
– thestar.com
New mortality tables issued by Canadian Institute of Actuaries shows why retirement planning is changing in CanadaThe new MoneySense.ca: Built to build your wealth
– moneysense.ca
Dear readers,
Welcome to the new MoneySense.ca! Here you’ll find the same great personal finance and lifestyle content you’ve come to expect from us, redesigned to better suit your smartphone, tablet, laptop and desktop. Our new responsive design makes it easier than ever to navigate and read our website anywhere, anytime on any device.
We’ve done more than just give MoneySense.ca a makeover however. Our team has spent months rebuilding the website from the ground up, in an effort to make it more intuitive. Whether you’re looking for new ways to save, invest or spend your money, you’ll find it more quickly and easily. There are also dedicated areas on debt, retirement and property matters along with a whole host of others. No matter what stage in life you are at, we’ll help you get on the path toward financial independence faster.
MoneySense magazine columnists including Norm Rothery, Pat Bolland and Evelyn Jacks among others will also make regular appearances on the new and improved website…
