Not sure how to make a retirement plan? Read on…
Latest News
Should you sell stocks you inherit? + MORE Sep 12th
An inheritance can be comprised of cash, securities, real estate, or other assets. When you inherit securities like stocks, there are income tax and strategic considerations. Here are some that you should keep in mind.
How are stocks taxed when you inherit them?
When a spouse or co.... More »
Stock news for investors: Canadian Natural boosts quarterly dividend after massive Q4 profit Mar 7th
Here’s a round-up of news for Canadian investors this week.
Canadian Natural Resources
Pet Valu
George Weston
Canada Packers
Featured RRSP Accounts
featured
EQ Bank
Build yo.... More »
How annuities work in Canada + MORE Apr 18th
Annuities are life insurance products that pay a regular income to a purchaser. When you buy an annuity, it’s like buying a pension plan with a lump sum premium paid from your savings. The payments you receive include a return of your original capital and interest income on that capital. It ma.... 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 »
Defer your Property Taxes to Increase Retirement Cash Flow + MORE Oct 29th
If keeping up with your property tax payments is becoming a challenge, you may be able to get some help from the province. The British Columbia Property Tax Deferment Program provides low-interest loans to qualifying homeowners. If your application is accepted, you will be able to defer your prope.... More »
RRSPs not undesirable, just unaffordable for most, polls find
– moneysense.ca
MONTREAL – Fewer Canadians are planning to put money into a Registered Retirement Saving Plan this year simply because they can’t afford it, say surveys by two big banks.
Both Scotiabank (TSX:BNS) and Bank of Montreal (TSX:BMO) say many Canadians have other expenses, such as car payments and paying down debt, that are preventing them from making a contribution.
Scotiabank found that 31 per cent planned to contribute to their RRSP, down from 39 per cent last year. BMO said 43 per cent of those surveyed planned to contribute, down from 50 per cent in 2013.
“The top answer was that they did not have enough money to make a contribution,” said BMO’s Chris Buttigieg, senior manager of wealth planning strategy.
Mike Henry, a Scotiabank senior vice-president, agreed, saying those surveyed by his bank said “they can’t afford it, they’ve got other expenses or other things they’re trying to manage.”
Overall, three-quarters of those who have RRSPs told Scotiabank they’ve thought about contributing more money to their plans, but they just don’t have the cash…
Both Scotiabank (TSX:BNS) and Bank of Montreal (TSX:BMO) say many Canadians have other expenses, such as car payments and paying down debt, that are preventing them from making a contribution.
Scotiabank found that 31 per cent planned to contribute to their RRSP, down from 39 per cent last year. BMO said 43 per cent of those surveyed planned to contribute, down from 50 per cent in 2013.
“The top answer was that they did not have enough money to make a contribution,” said BMO’s Chris Buttigieg, senior manager of wealth planning strategy.
Mike Henry, a Scotiabank senior vice-president, agreed, saying those surveyed by his bank said “they can’t afford it, they’ve got other expenses or other things they’re trying to manage.”
Overall, three-quarters of those who have RRSPs told Scotiabank they’ve thought about contributing more money to their plans, but they just don’t have the cash…
One in three retirees has returned to work to pay the bills
– moneysense.ca
Nearly a third of retired Canadians, or 30 per cent, have returned to work and a major reason is that they misjudged how much their expected life of ease would cost.
Two new online surveys from ING Direct found that the divide between how much people saved, and how much they actually needed, was too wide to handle without a paycheque.
About 48 per cent of respondents in one survey who had returned to work cited financial concerns as the reason they took another job. And, of these, 31 per cent had returned to work full time.
Another online survey found that 33 per cent of respondents who went back to work said they hadn’t saved enough money for retirement, while 31 per cent said they faced higher living costs than expected.
The surveys portray a notable disconnect between Canadians’ expectations of life after the work force and the reality of the cost.
ING Direct said that respondents wished they had found more ways to save for retirement, that they had started saving earlier and hadn’t “spent money so mindlessly…
Two new online surveys from ING Direct found that the divide between how much people saved, and how much they actually needed, was too wide to handle without a paycheque.
About 48 per cent of respondents in one survey who had returned to work cited financial concerns as the reason they took another job. And, of these, 31 per cent had returned to work full time.
Another online survey found that 33 per cent of respondents who went back to work said they hadn’t saved enough money for retirement, while 31 per cent said they faced higher living costs than expected.
The surveys portray a notable disconnect between Canadians’ expectations of life after the work force and the reality of the cost.
ING Direct said that respondents wished they had found more ways to save for retirement, that they had started saving earlier and hadn’t “spent money so mindlessly…
Canada Post’s decision to stop delivering mail to Canadians’ doors has prompted many carriers to quit, often just a few years short of retirement, QMI Agency has learned.
