All about Retirement Planning in Canada. Learn the ins and outs and get the latest news.
Latest News
Timing CPP and OAS with workplace pensions Mar 31st
Q: My husband is retired military and will turn 60 this year. He’s been told by his military buddies that he should apply soon for his CPP as then he can receive it and the bridge for the next five years. I thought he should be delaying on taking his CPP but perhaps it’s the OAS he should dela.... More »
How to invest tax-free in a bitcoin ETF in Canada Sep 20th
Canada is one of the best places on Earth to invest in crypto. The regulatory environment here is crypto-positive, and Canada is on the cutting edge of crypto innovation—we were the first country to launch a crypto exchange-traded fund (ETF).
Another perk of crypto investing in Canada: yo.... More »
Single, no pension? Here’s how to plan for retirement in Canada Jul 4th
Being single in retirement has some financial obstacles. Some people are single as they enter retirement. Others become single due to divorce or death prior to or after retiring. Here are some considerations for planning your retirement as a singleton, especially if you have no defined benefit (DB) .... More »
OAS payment dates in 2025, and more to know about Old Age Security + MORE Apr 4th
If you’re approaching or planning for retirement, you may have questions about Old Age Security (OAS) benefits, like: Do I need to apply for OAS? How much will I receive in OAS? When do OAS payments go out? We cover these questions and more below. But first, here’s a quick overview of how OAS wo.... More »
Who will replace Brad Wall as Saskatchewan Party leader? - CBC.ca + MORE Aug 12th
CBC.caWho will replace Brad Wall as Saskatchewan Party leader?CBC.caSaskatchewan Premier Brad Wall has announced his retirement and political analysts say there are no obvious candidates who might replace him. "Saskatchewan needs renewal, a fresh perspective in leadership," Wall said Thurs.... More »
How to invest a RRIF
– moneysense.ca
(JGI/Jamie Grill/Getty Images)Q: Can you suggest a preferably low cost RRIF portfolio for a 74-year-old woman in decent health in an amount of about $500,000?—Sharon
A: I think what you really should be considering is a good value Registered Retirement Income Fund (RRIF) portfolio as opposed to a low cost RRIF portfolio, Sharon.
A low cost RRIF portfolio is easy. You can put it all in GICs and pay no fees. Or you can take the RRIF to an insurance company and buy an annuity that will pay a monthly payment for the rest of your life, meaning no more investment fees. Though both options have virtually no direct cost, they have indirect costs because you’re committing to low, albeit guaranteed returns.
Investing in stocks has a cost. There are costs that are direct as well as indirect and you need to assess what you’re getting for the price.
You can keep your direct costs down by buying exchange-traded funds (ETFs) through a discount broker. Questrade, iTrade, Qtrade Investor and Virtual Brokers offer no fee ETF purchases (you pay commissions on sale)…
The new nationalism: Should Canadian pensions invest more at home?
– theglobeandmail.com
Debate intensifies over pension funds’ duty to invest in local infrastructure
Moving from Employee to Retiree: How to Make your Pretax Dollars Stretch
– rhondasherwood.com
Are you about to make the move from employee to retiree, which means going from a guaranteed salary to drawing down your savings and living off of pension income? If so, be prepared, as this tends to be a jarring time for most people. No longer will you be focused on accumulating your wealth but instead, you are be depleting it. During this stage in life, the advice of your financial advisor becomes invaluable, especially during the five years prior to retirement and the first five years of retirement. Small mistakes can have big financial consequences when you are moving from employee to retiree.
How to Make a Successful Financial Move from Employee to Retiree
However, with a bit of planning, you can minimize the number of pretax dollars you will need to withdraw to maintain your lifestyle to have a comfortable retirement. Here are some tips to help you take the strain off your savings:
1. Income Splitting Can Minimize Tax Payable
You and your spouse or partner can use income splitting to equalize your household income (or make it closer to equal) and avoid paying more than you need to in taxes…
Working in retirement is not a retirement plan
– moneysense.ca
(Tony Garcia/Getty Images)You’re probably going to live longer than you think but it if you’re worried about outliving your money, planning to work in retirement is not a panacea, warns Toronto-based Fidelity Investments Canada ULC.
At a media briefing on Monday, vice president of retirement and economics research at Fidelity Canada, Peter Drake, urged those still saving for retirement to take more individual responsibility for their future after work. “You’re going to live longer than you think,” he said, citing steadily rising life expectancy statistics going back to 1921. Someone born in 1921 would have a life expectancy of about 58, a figure that passed 70 for someone born in the mid 1950s and which passed 80 shortly after the new millennium.
Certainly, the latest data from the 2014 Fidelity retirement survey released at the event suggests those falling short of their retirement savings goals are counting on some kind of paying “encore career” to make up the difference…
