Sears pension ‘slap’ shows need to diversify savings + MORE Sep 23rd

There are plenty of retirement plan options in Canada! Stay on top of the best plans right here.
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 cpp

RRSP withdrawals in your 40s Oct 7th

Q: I’m a federal government employee and was thinking about take some time and using my RRSPs to live on during that time (1 year). My bank said I could turn my RRSPs into a RRIF and withdraw monthly from that for income. I’m only 40. Is this possible? I’ve read online that you m.... More »
 freedom 55

Sears looking to close all stores, 12,000 to lose jobs + MORE Oct 14th

TORONTO — Sears Canada Inc. is seeking court approval to liquidate its roughly 130 remaining stores, leaving approximately 12,000 employees without a job. The embattled retailer, which has been operating under the Companies’ Creditors Arrangement Act since June, said Tuesday that it had fail.... More »
 retirement savings

How to boost your returns in retirement + MORE Oct 21st

Shutterstock What’s the single biggest fear retirees face? Undoubtedly it’s the prospect of outliving their money. And as this column has pointed out before, retiring in this second decade of the 21st century poses challenges for just about any healthy person who lacks an inflation-indexed emplo.... More »
 retirement savings

This is what’s protecting your pension + MORE Sep 30th

As most people are well aware, job security in the private sector is often problematic in these days of corporate restructurings and mergers. This can extend even into the realm of employer pensions. It’s one thing to receive an inflation-indexed Defined Benefit pension sponsored by the government.... More »
How life insurance can shave your capital gains tax
Q: My husband and I bought life insurance in 2008. At that time, I was 44 and a non-smoker, and he was 46 but a former smoker. Each of us is insured for $250,000. The monthly premiums have been a total of $142.50 since we took out the policy—$58.90 for me, and $83.60 for him. In 2018, when my husband turns 56, his premiums will increase to $307.33 per month. This seems unreasonably high.  My premiums don’t increase until I turn 64, at which point they increase to $387.60. I am the primary insured on the policy, and he is included as a spouse. We both have life insurance policies with our employers—mine is about equal to what this policy would pay and my husband’s is less, although he plans to either fully retire or semi-retire in 2018. Our home and cottage are both paid off and we have no debt. Our three children are in their 20s, out of the house and mostly self-sufficient, and we have saved about $450,000 for retirement so far. I have a DB pension plan and he has a DC plan…

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A new type of retirement community is under development outside Hamilton. It will offer daily entertainment and sports, because the developer believes active, affluent baby boomers want more from retirement than past generations.

Continue Reading On cbc.ca »

Employer-sponsored pension plans force people to save for retirement. But what happens when a company isn’t healthy enough to fund them?

Continue Reading On thestar.com »

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