Not sure how to make a retirement plan? Read on…
Latest News
Choosing priorities in retirement planning + MORE Nov 11th
Q: We are in our sixties and still have a $310,000 mortgage. We are paying about $600 per month for life and disability insurance. Can this insurance be cancelled? We’d like to use these funds to help pay down our mortgage sooner.
— Retiring in debt, Vancouver
Ayana Forward is a certi.... More »
Should you hold gold in a RRIF? + MORE Aug 9th
Ask MoneySense
I have a RRIF (registered retirement income fund) and I am looking to shift it to gold. I am 65 years old. Is this safe and does this make sense?
—Audrey
Investing in gold for retirement in Canada
Gold prices have surged recently, rising 26% over the past year. Silver has .... More »
Canadian VCs bolstered by Wellington’s new fund + MORE Oct 1st
Wellington’s new $300-million fund is backed by pension plans and offers debt financing to its portfolio companies, unlike many other VC funds, which look for equity
.... More »
What’s the right retirement asset mix if you have a DB pension? + MORE Mar 10th
(Shutterstock)
Q: When calculating your asset mix can you include a pension as part of your bond/cash holdings in a portfolio with a 60% equity, 20% bond and 20% cash mix? If you had a pension that was paying $50,000 a year this would be equal to a million dollar GIC at 5%.
—B. McLeod
A: Hi B. Mc.... More »
Sears looking to close all stores, 12,000 to lose jobs + MORE Oct 14th
TORONTO — Sears Canada Inc. is seeking court approval to liquidate its roughly 130 remaining stores, leaving approximately 12,000 employees without a job.
The embattled retailer, which has been operating under the Companies’ Creditors Arrangement Act since June, said Tuesday that it had fail.... More »
Live from Retire Rich 2015
– moneysense.ca
We’re live blogging from Retire Rich starting at 5:15 p.m. EST on Wednesday, April 8, 2015. (James Porter/Getty Images)Missed our Retire Rich 2015 event? You can catch some of what leading retirement-planning experts and MoneySense personalities including Duncan Hood, Bruce Sellery, Preet Banerjee and Dan Bortolotti said during this evening of wealth-building insights and practical advice. You’ll learn the proven tactics and strategies to establish a low-cost retirement plan for a rich and rewarding retirement.
// <![CDATA[
(function(d, s, id) {var js,ijs=d.getElementsByTagName(s)[0];if(d.getElementById(id))return;js=d.createElement(s);js.id=id;js.src="//embed.scribblelive.com/widgets/embed.js";ijs.parentNode.insertBefore(js, ijs);}(document, 'script', 'scrbbl-js'));
// ]]>
Platinum Sponsor
The post Live from Retire Rich 2015 appeared first on MoneySense.
MONTREAL – The new chief executive of Bombardier Inc. is bringing in another outsider with extensive industry experience to be the company’s new president for commercial aircraft, which sells the Q400, CRJ and CSeries planes to airlines.Long-time Bombardier executive Mike Arcamone was replaced Thursday by Fred Cromer, who was most recently president of International Lease Finance Corp., which is a major buyer of commercial aircraft.Prior to his six years as president of ILFC, Cromer has held positions at several U.S. airlines.”His strong leadership skills, international network and deep understanding of the aviation industry are a perfect match for Bombardier Commercial Aircraft, as we are preparing to realize the true market potential of our new CSeries aircraft, while refocusing on our Q400 and CRJ programs,” Bombardier chief executive Alain Bellemare said Thursday.Arcamone’s departure — and pending retirement of Bombardier’s chief financial officer Pierre Alary after a transition — comes as Bombardier makes major management changes, including the sudden installation of Bellemare as CEO in mid-February…
Am I on track to retire at age 60?
– moneysense.ca
Milan Sengupta of Calgary wants to retire at age 60 to travel. (Photograph by Chris Bolin)The current situation
Milan Sengupta, 36, has been in Canada for just five years, but he’s already thinking about retirement. “I came to Calgary from India with just two suitcases and every day since has been an incredible journey,” says Milan, a self-employed IT worker who just passed the citizenship test. Milan is spending $55,000 annually from his $130,000-a-year salary, with $15,000 going towards rent. “I bought a house in 2010 but sold it last year,” says Milan, who put the $165,000 proceeds into a savings account. “My timing was good.” On top of that windfall, he has $145,000 in additional savings, mainly RRSPs and TFSAs—all invested in exchange-traded funds (ETFs) and the TD Comfort Aggressive Growth mutual fund. So far his returns have averaged 6.5% net over the last five years, and with Milan’s disciplined savings approach his wealth will continue to grow: he contributes $1,000 to his RRSP twice a month and $5,500 to his TFSA every year, for a total of $29,500 annually…
