How to go about securing the best Retirement Plan in Canada.
Latest News
Why GICs might be a better investment than stocks and bonds Aug 17th
Financial markets have fallen quite dramatically in 2022, and that has made choosing investments even more difficult than usual. The turmoil has made many investors nervous about investing in stocks. The Toronto Stock Exchange (TSX) was down nearly 10% for the first half of 2022, and the S&P 500.... More »
Planning for the (potential) costs of long-term care + MORE Feb 17th
According to the Ontario Long Term Care Association’s report This is Long-Term Care 2019, 82% of long-term care residents are 75 years of age or older, and 55% are 85 or older. Residents under 75 are generally those who “have experienced a brain injury, stroke, and other conditions that require .... More »
The best RRSPs in Canada for 2026 + MORE Jan 31st
Why should you open a registered retirement savings plan (RRSP)? This account type is often described as “tax-advantaged,” meaning it offers a tax-efficient way for savers and investors to build wealth for the future, usually for retirement. To maximize its potential, it helps to know the differ.... More »
CPP’s success may signal bigger pensions ahead: Mayers + MORE Apr 15th
In search of higher returns, the Canada Pension Plan is taking a little more risk, something it says can be done safely and prudently..... More »
Can I receive a share of my ex’s military pension? + MORE Dec 16th
Q: I was married to a Navy man, went through mediation and it was in our divorce settlement that I was entitled to receive half of his military pension. I thought I had to wait until he turned 65 to be entitled to half but I’ve been told that as soon as he left the Navy he was getting his pension..... More »
Seniors' debt rising, report shows
– canada.com
Canadian households have returned to their free-spending ways, and seniors have lately joined the party by borrowing to finance their post-retirement lifestyles, a new report says.
Cost of kids
– moneysense.ca
A new report by the Fraser Institute says it costs less to raise a child than previous studies, including an estimate by us here at MoneySense, have suggested. The conservative think-tank says it is possible to raise a child on about $3,000-$4,000 year whereas we’ve pegged that number closer to $13,000 a year when you factor in shelter, food, clothing, recreation, child care and more. Parents, tell us what you think by leaving a comment in the comments section below.
Still on the topic of raising children, a CIBC survey suggests 36% of Canadians are delaying retirement to help pay for their kids post-secondary education while one-third have taken on extra debt to help pay tuition and related expenses.
TD and RBC followed in the footsteps of BMO Thursday, raising rates on fixed mortgages. Qualifying applicants can now borrow at just above 3.6% interest for five years at most big banks. That’s still well below historical highs so potential homeowners needn’t be too discouraged especially since the rising rates may have the effect of cooling average national house prices…
Still on the topic of raising children, a CIBC survey suggests 36% of Canadians are delaying retirement to help pay for their kids post-secondary education while one-third have taken on extra debt to help pay tuition and related expenses.
TD and RBC followed in the footsteps of BMO Thursday, raising rates on fixed mortgages. Qualifying applicants can now borrow at just above 3.6% interest for five years at most big banks. That’s still well below historical highs so potential homeowners needn’t be too discouraged especially since the rising rates may have the effect of cooling average national house prices…
How to Retire on Less Money
– rhondasherwood.com
Saving for financial goals is a challenge for most families these days. Retirement is often left on the back burner until later in life when it may be too late to save the amount you think you need. Rather than put off your retirement or forget about it all together, consider downsizing your life and your overall expenses so that you can retire on less money.Downsizing your Life
While you may love your house, do you realistically need that much space? The kids are most likely gone and it’s just you and possibly your spouse living in the home. Having less square footage to worry about not only makes upkeep easier as you age but also less expensive. Your utilities should decrease, as well as your property tax and insurance bills. If you are in strata you also won’t have to worry about gardening or lawn maintenance, leaving you with fewer headaches to deal with. Downsizing may also leave you with more money from the sale/repurchase of your homes to fund your retirement needs.
You Could Relocate
If you are not ready to give up space just yet, have you considered living somewhere else where you can get the same amount of square footage for a heck of a lot less? Vancouver is an expensive city to live in…
3 Retirement Planning Tactics to Adopt Before You're 50
– walletpop.ca
Filed under: Budgeting & Planning, Retirement and RRSPsBy Nicole Seghetti
The predictions are in and they are dire. Canadians will run out of retirement savings after just 19 years on average, according to research from HSBC. But adopting the right retirement planning strategies at this phase of your life will help you avoid financial disaster in your golden years.
Here are three retirement strategies to deploy before blowing out your 50 birthday candles.Continue reading 3 Retirement Planning Tactics to Adopt Before You’re 503 Retirement Planning Tactics to Adopt Before You’re 50 originally appeared on Walletpop Canada on Wed, 28 Aug 2013 10:27:00 EST. Please see our terms for use of feeds.Permalink | Email this | Comments
