All about Retirement Planning in Canada. Learn the ins and outs and get the latest news.
Latest News
Kinder Morgan reported in talks on $6.8B Trans Mountain pipeline financing + MORE Feb 17th
Kinder Morgan Inc. has begun talks with institutional investors including major Canadian pension funds and private equity firms to raise capital for the $6.8 billion expansion of its Trans Mountain pipeline project, according to people familiar with the process..... More »
How to stay the course with your retirement plan during market volatility + MORE Apr 11th
Three days of wild market volatility sparked by U.S. tariffs is enough to cause any investor stress, but for those in retirement, the plunge can be extra difficult.
Markets have taken a nosedive after U.S. President Donald Trump’s announcement of sweeping global tariffs last Wednesday (April .... More »
Millennial homebuyers and seniors among the winners of Budget 2019 + MORE Mar 24th
The Liberals’ last budget of this mandate sets the stage for the October federal election and includes a sprinkling of money for voters across a wide spectrum. But there are also gaps in spending for some groups.
Here’s what the budget does and doesn’t do, for five key voting group.... More »
Worried about your shrinking nest egg? How the 4% rule can help save your retirement + MORE Mar 30th
While no withdrawal rate is foolproof or guaranteed, the 4% withdrawal rule provides a rough and reasonable measuring stick that is widely used and has stood the test of time going back to the 1920s..... More »
Can I withdraw from RRSPs to pay bills? + MORE Apr 20th
What are the cons to withdrawing RRSP savings of $25,000 to pay off some unexpected bills I have incurred?—Anonymous
Withdrawing RRSPs when you’re not retired
Ahh, the unexpected bills.
Anonymous, I’ll give you my initial thoughts first, and then I’ll review the cons of withdrawing .... More »
Home expected to fund retirement for one-quarter of Canadians
– moneysense.ca
Nearly one-quarter of Canadians plan to tap their home as a primary source of income after they leave the workforce, according to the 2014 Sun Life Canadian Unretirement Index. The survey also found that more than half (56%) plan to work past the traditional retirement age of 65, most out of necessity.Still, the average expected retirement age fell to 66, the lowest level in the last four years of the survey’s existence (down from a high of age 69 in 2011).
“With people living longer and more Canadians expecting to retire sooner, it’s important to look at what savings you will need to be fully prepared and how having a financial plan can help protect against risks that can be magnified in retirement such as market shocks and health events,” Kevin Dougherty, president of Sun Life Financial Canada said in a press release.
Canadians on average expect approximately 10% of their retirement income to come from home equity, with another 30% to come from government plans, 27% from personal savings, 23% from employer pension plans, 5% from an inheritance and 6% from other sources…
More Canadians expect to work full-time in retirement
– thestar.com
Many think they will work in their mid-60s because they need the money: survey.How to supercharge your RRSP
– thestar.com
There’s a way to increase your RRSP contributions without leaving you any more out of pocket, even though you need a loan. Here’s how to do it.Denis Coderre's 100-day highlights – Montreal Gazette
– news.google.ca
Montreal GazetteDenis Coderre's 100-day highlightsMontreal GazetteLe Rassembleur. Denis Coderre wasted no time following through on his promises to be a unifier. He met with a supposed enemy, Quebec City Mayor Régis Labeaume, a month after his election to tackle ballooning pension-plan payments, costing Montreal …Bixi saved for the summerCBC.caMontreal bails out Bixi bike-sharing firm for $11.9MSun News Networkall 12 news articles »
Regulator issues stern warning on borrowing to invest
– moneysense.ca
The Investment Industry Regulatory Organization of Canada (IIROC) published its “final guidance” on borrowing-to invest strategies Wednesday, stressing the obligations of financial advisers to adequately warn and supervise their clients regarding the use of these often risky strategies.
It’s not uncommon for Canadians to borrow money to make their annual RRSP contribution for instance and pay back the loan with the tax refund the contribution generates, this is called a “gross up” loan. RRSP “top up” and “catch up” loans however are considered more risky since they are typically larger and require investors to pay back the loan from other income sources.
IIROC-regulated firms must have sound policies, procedures and controls in place when borrowing-to-invest strategies are recommended by the firm and its registered representatives, the regulator said in a press release Wednesday. Advisers must also ensure the risks are fully explained and that clients are aware of the potential impact of borrowing-to-invest strategies based on the clients’ financial situation, risk appetite and ability to withstand loss…
It’s not uncommon for Canadians to borrow money to make their annual RRSP contribution for instance and pay back the loan with the tax refund the contribution generates, this is called a “gross up” loan. RRSP “top up” and “catch up” loans however are considered more risky since they are typically larger and require investors to pay back the loan from other income sources.
IIROC-regulated firms must have sound policies, procedures and controls in place when borrowing-to-invest strategies are recommended by the firm and its registered representatives, the regulator said in a press release Wednesday. Advisers must also ensure the risks are fully explained and that clients are aware of the potential impact of borrowing-to-invest strategies based on the clients’ financial situation, risk appetite and ability to withstand loss…
