The best ETFs for retirement income + MORE Aug 24th

All about Retirement Planning in Canada. Learn the ins and outs and get the latest news.
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Financial hardship withdrawal exceptions and increasing income in retirement + MORE Apr 4th

Ask MoneySense I am in B.C., Canada. I moved my LIRA into a LIF two years ago. I have taken the maximum annual withdrawals for each year. I thought it’d be smart to start taking it. How can I get more out of it? I need the funds to help deal with bill payments. All my monthly i.... More »
 canada pension plan

RRIF and LIF withdrawal rates: Everything you need to know Mar 7th

At some point, a registered retirement savings plan (RRSP) is typically converted to a registered retirement income fund (RRIF). The latest you can defer the conversion of your account is the end of the year you turn 71. This means that by December 31 of your 71st year, you need to either withdraw t.... More »

RESP vs RRSP and TFSA: What’s the best option for education savings? Aug 31st

Welcome to Education Money, a new column that covers the questions and concerns parents and investors have about funding their child’s education. Andrew Lo, CEO of Embark, shares his thoughts and insights on how to make the most of RESPs. To kick off the column, he explains the different options C.... More »
 retirement savings

How to start saving for retirement at 45 + MORE Mar 14th

Saving for retirement at age 45 means you’ll have a 20-year runway toward a traditional age 65 retirement. But what’s your starting point? The National Bank of Canada suggests that by age 40 you should have 2.1 times your annual income saved for retirement, while the U.S.-based firm Fidelity rec.... 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 »

10 simple ways to save money


As the cost of living increases for Canadians, having a savings strategy has never been more important to ensure you can live comfortably in the future. But many are unsure where to start. Not having a thought-through plan or having one that is too rigid and demanding can easily push you off track. That’s why it is essential to find strategies that work for you.

“The most important thing is to develop the habit of saving,” says Ayana Forward, a fee-only Certified Financial Planner (CFP) in Ottawa. So what are some easy ways to start saving without sacrificing too much from day to day?

1. Set mini goals as part of your long-term plan

“Saving money really comes down to self-discipline and goal setting,” says Brent Vandekerckhove, a financial advisor with RGF Integrated Wealth Management in Vancouver, B.C. To start, decide what you’re saving for and calculate how much money you need to meet your goal. Whether it’s saving for a car, a house, retirement or anything in between, your goal should be specific and measurable, as this will help you stay on track, says Vandekerckhove…

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While exchange-traded funds (ETFs) are appropriate for investors of all ages and life stages, they make particular sense for retirees and those close to retiring. Things like quick and easy broad diversification of asset classes and geographic exposure at a reasonable price are especially relevant when you no longer wish to be exposed to single-stock risks. Mind you, concentration risk still exists even with ETFs because sector or regional ETFs continue to be released, typically with higher fees. Just look at the current furor over AI ETFs (those specifically for artificial intelligence tech companies). So let’s look at retirement ETFs for Canadian investors.

I began researching this topic as part of a MoneyShow presentation scheduled early in September on MoneySense’s ranking of the best ETFs in Canada. The session will be conducted by myself and MoneySense executive editor Lisa Hannam. Readers may recall I was the lead writer for the annual ETF package—when it was called ETF All-Stars—but after almost a decade, I passed the reins to new writers…

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