Retirement planning getting you down? There are always smart ways to plan the financial aspects of your retirement.
Latest News
Should I draw down my RRIF to avoid estate taxes? + MORE Apr 25th
Ask MoneySense
Is it a good idea to withdraw more money monthly than one needs from one’s RRIF? What about beginning a regularly automated transfer of this extra money to one’s non-registered investments so that there is less money in the RRIF account upon death? As a result, the estate will be .... More »
CPPIB in deal to buy half of Hotelbeds Group + MORE Apr 29th
The Canada Pension Plan Investment Board and European private equity firm Cinven have signed a deal to buy travel services company Hotelbeds Group in a deal valued at 1.165 billion euros, or roughly $1.65 billion Cdn..... More »
Moving from Employee to Retiree: How to Make your Pretax Dollars Stretch + MORE Nov 27th
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 in.... More »
Should I cash my RRSP to pay off my mortgage? Jan 17th
Ask MoneySense
Is it a good idea to pay off my mortgage with my RRSP money and then put what my mortgage payment was back into the RRSP once I’ve paid it off? What are the pros and cons of this strategy to being mortgage free?
–Mike
Pay off a mortgage or keep investing with RRSPs?
Payi.... More »
Stock news: Couche-Tard and BlackBerry post gains, Metro flags strike impact Jun 27th
Here’s a round-up of news for Canadian investors this week.
Couche-Tard
BlackBerry
Metro
Featured RRSP Accounts
featured
EQ Bank
Build your retirement savings with 1.50% intere.... More »
The financial literacy paradox
– moneysense.ca
There has been huge growth in financial literacy initiatives over the past decade, some aimed at children and youth. Most recently, Stefania Moretti’s MoneySense article “Parents and teens want financial education in the classroom” highlighted this growth with statistics from a variety of sources throughout Canada. Considering the heightened level of concern regarding the baby boomer generation’s ability, or inability rather, to finance their retirement years, it’s not surprising that many hope the next generation will better manage their financial house.Unfortunately there’s no evidence that financial education actually results in improvements in our financial behaviour. No studies on financial literacy have provided convincing evidence of any sustainable financial behaviour change, research tells us. Currently we have no way of knowing if this is the best way to prepare the next generation for their financial obligations. Our youth will face a far more complex financial world…
When to take your pension – and when to wait
– canoe.ca
Did you know that you can defer taking your Old Age Security pension?
Thinking of Early Retirement? Avoid these Common Pitfalls
– rhondasherwood.com
So you made the life-changing decision to retire sooner than you had originally planned. Congratulations! You are counting down the minutes until you pack up the office and head for the door, and are no doubt looking forward to your new life away from the daily grind. But before you say goodbye to your coworkers last time you might want to touch base with your financial advisor to ensure there are not any miscalculations in your new retirement plan.Retiring early may be your dream but only if you can make it work financially! Here are a few common blunders people tend to make with retirement planning when deciding to take an early exit from the workforce.
You originally planned for your savings to cover 20 years of retirement living but you have recently decided to retire five years earlier.
Are you confident you have enough funds put aside to cover those five extra years when you won’t be bringing in an income? Let’s say you need an extra $20,000 annually from your savings to make up the shortfall in your retirement needs that your pension income doesn’t fully cover…
Peugeot chief renounces $29-million pension deal after outcry
– theglobeandmail.com
Philippe Varin acknowledged the “polemic and emotion” caused by his pension and said the company’s supervisory board would decide on the new terms of his departure
