All about Retirement Planning in Canada. Learn the ins and outs and get the latest news.
Latest News
Cut unnecessary costs with one simple change to your banking + MORE Dec 13th
If you’re like many Canadians, you view bank fees as a necessary expense, but this couldn’t be farther from the truth. Paying a small fee each month isn’t usually much trouble, but over a whole year, it can really add up. The good news is that affordable banking has never been more in .... More »
Strategies to make taxable investing easier + MORE Feb 3rd
In Episode 4 of the Canadian Couch Potato podcast, I answered the following question from a listener named Jakob:
I’m currently investing with all my ETFs in RRSP and TFSA accounts. This year, however, I’ll finish paying off my mortgage, so I will have more surplus cash and will have to start us.... More »
Stock news: Cogeco takes U.S. telecom hit as Electrovaya rallies Jul 18th
Here’s a round-up of news for Canadian investors this week.
Cogeco
Electrovaya
Blue Ant Media
Loblaw-EQB
Featured RRSP Accounts
featured
EQ Bank
Build your retirement saving.... More »
“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 »
Money Makeover: Should she rely on rental income in retirement? + MORE Jun 17th
Gina says she is uncomfortable with owning a rental property. There are better choices for a risk-averse investor..... More »
Why you should have an investment policy statement
– moneysense.ca
OTTAWA – Big pension funds use investment policy statements to help guide their portfolios, but even though you aren’t managing billions, advisers say you probably should use one too.
A formal investment policy statement is not a financial plan, but should be complementary to one.
Ilana Schonwetter, an investment adviser at Blue Shore Financial in North Vancouver, B.C., says an investment policy statement should outline your overall objectives, while a financial plan handles the details of achieving those goals.
“To me it makes sure that my clients actually understand everything that we have discussed,” Schonwetter says.
“This is the point at which you can reconfirm that you’re both on the same page as far as some very key important factors that will help your relationship move forward.”
Worksheet: Your investment policy statement »
A formal investment policy should lay out why you are investing and your expected time horizon.
It should provide guidance about how money will be invested, including what kinds of investments it will hold and outline what mix of stocks and bonds you are comfortable with…
A formal investment policy statement is not a financial plan, but should be complementary to one.
Ilana Schonwetter, an investment adviser at Blue Shore Financial in North Vancouver, B.C., says an investment policy statement should outline your overall objectives, while a financial plan handles the details of achieving those goals.
“To me it makes sure that my clients actually understand everything that we have discussed,” Schonwetter says.
“This is the point at which you can reconfirm that you’re both on the same page as far as some very key important factors that will help your relationship move forward.”
Worksheet: Your investment policy statement »
A formal investment policy should lay out why you are investing and your expected time horizon.
It should provide guidance about how money will be invested, including what kinds of investments it will hold and outline what mix of stocks and bonds you are comfortable with…
Is Selling your House the Key to a Comfortable Retirement?
– rhondasherwood.com
If you are like a number of Canadians who are either at or close to retirement age, a significant portion of your net worth is tied to your home. For many of us, owning our own home is a symbol of success. We remember the first house we bought, the years of forced saving which come with paying down the mortgage, and the increased cash flow when we don’t have that expense in our budget any more. Now that you have finally got the mortgage monkey off your back, selling your house make any sense?
Three Retirement Scenarios for Homeowners
If you are a homeowner approaching retirement, here are three scenarios to consider:
Sell your home early on to provide cash to fund your retirement years. Many people are in the “house-rich and cash-poor category,” and this scenario can make good sense for them.
Sell your house partway through retirement. This is scenario which typically occurs for most people, as they sell their home to fund some type of assisted living arrangement.
Don’t sell the house at all…
