Stock news for investors: Canopy Growth to acquire MTL Cannabis in $125-million deal + MORE Dec 20th

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

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How job changes can affect your taxes + MORE Mar 28th

Landing a new job or being laid off from your current position can be life-changing—whether it’s an exciting transition, a tough stretch or a chance at a fresh start. But months after the dust settles, people often forget that job changes can also impact that year’s tax return. Expe.... More »

Do you actually need a financial advisor in your 30s and 40s? May 9th

At some point, most Canadians are told they need a financial advisor. But is hiring one really necessary when you’re in your 30s and 40s, or can it wait until you’re closer to retirement? Like a lot of financial advice, the answer depends on your personal circumstances; it’s less about yo.... 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 »

Stock news: Canada’s big banks raise dividends after strong Q2 earnings May 30th

Here’s a round-up of news for Canadian investors this week. BMO National Bank Scotiabank CIBC TD Bank RBC Featured RRSP Accounts featured EQ Bank Build your retirement.... More »

Stock news: Cogeco takes U.S. telecom hit as Electrovaya rallies Jul 18th

Here’s a round-up of news for Canadian investors this week. Cogeco Electrovaya Blue Ant Media Loblaw-EQB Featured RRSP Accounts featured EQ Bank Build your retirement saving.... More »

Stock news for investors: Canopy Growth to acquire MTL Cannabis in $125-million deal

– moneysense.ca

Here’s a round-up of news for Canadian investors this week.

Canopy Growth

Blackberry

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MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada…

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Unlocking the Annuity Puzzle: Why Canadians avoid what seems to be the perfect retirement vehicle

– moneysense.ca

The Annuity Puzzle is about a curious phenomenon in Canada: while life annuities sold by insurance companies seem to have all sorts of compelling reasons to acquire them, more often than not, retirees shun them.

Financial planner Robb Engen recently tackled this puzzle in his Boomer & Echo blog, “Why Canadians avoid one of retirement’s most misunderstood tools.” Engen notes that experts like Finance professor Moshe Milevsky and retired actuary Fred Vettese believe “converting a portion of your savings into guaranteed lifetime income is one of the smartest and most efficient ways to reduce retirement risk.” Vettese has said the math behind an annuity is “pretty compelling,” especially for those without Defined Benefit pensions.

Milevsky and Alexandra Macqueen coined a great term applicable to annuities when they titled their book about the subject Pensionize Your Nest Egg, which I reviewed in the Financial Post in 2010 under the title ”A cure for pension envy?”

Engen observes that a life annuity is “the cleanest version of longevity insurance … You hand over a lump sum to an insurer, and they guarantee you monthly income for life…

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