Retirement planning getting you down? There are always smart ways to plan the financial aspects of your retirement.
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Why repaying student debt early is the best investment you can make + MORE Feb 17th
Q. I’m a 23-year-old who just graduated with a Masters degree and I have $30,000 in student debt ($20,000 provincial, $10,000 federal). I also just got a job with an annual salary of roughly $60,000. My question is what is the best way to invest my money (index mutual fund, stocks, online Rob.... More »
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 »
How to model retirement income in Canada Feb 15th
Ask MoneySense
I am retired early at 58 years old. My wife is 56 years old. We live on a Christmas tree farm, which was paid for years ago.
I have a work pension, and my wife was bought out for her pension.
We have considerable RRSPs, farm income, and farm property. Where do w.... More »
Making sense of the markets this week: September 17, 2023 Sep 21st
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
U.S. inflation battle: Mission not accomplished
Despite increasing interest rates and hawkish talk from the U.S. F.... More »
Kinder Morgan reported in talks on $6.8B Trans Mountain pipeline financing + MORE Feb 17th
Kinder Morgan Inc. has begun talks with institutional investors including major Canadian pension funds and private equity firms to raise capital for the $6.8 billion expansion of its Trans Mountain pipeline project, according to people familiar with the process..... More »
The case for a 'TFSA-first' strategy in retirement planning
– theglobeandmail.com
It can be excellent as a primary way to build up your nest egg, and unlike the RRSP, it avoids later clawbacks
Canada’s government is the smallest it’s been since the Second World War, and that’s hurting its ability to provide services, says a new “alternative federal budget.”
The latest edition of the document — which the Canadian Centre for Policy Alternatives releases every year ahead of the official federal budget — calls for substantial corporate tax hikes, the closing of tax loopholes and the elimination of tuition fees.
“Federal total spending as a share of the economy stands at 13 per cent of GDP, its lowest point in the past 60 years,” states the document, released Thursday.
“The last time the government was this small we had no national health care plan, no pension plan, no guaranteed income supplement, no employment insurance.”
Falling corporate tax rates and growing tax evasion are to blame, and “the result has been a measurable withdrawal of public services and support programs upon which many rely,” the CCPA said.
The Place du Portage federal complex in Gatineau, Quebec, across the river from Ottawa…
Think twice before spending your RRSP tax refund
– moneysense.ca
OTTAWA – You might be feeling pretty good about that contribution to the RRSP account and may be daydreaming a little about how you’re going to spend the tax refund.But investment experts say people should think twice before blowing that cheque from the government on a new television or a quick weekend getaway.
“What you have to remember is that it’s not actually a windfall, it is money that you’ve paid in taxes that you’re getting back for funding your retirement,” said Larry Moser, divisional manager for BMO Investorline.
He said people need a strategy for the money, whether it is investing it or paying down debt, depending on financial circumstances.
28 ways to pay less tax »
For those with high-interest debt, such as credit card debt, Moser says that would top his list for uses of a tax refund.
When making an RRSP contribution, people aren’t avoiding tax on their contributions, they’re only delaying it. The advantage comes from the tax sheltered growth and it is likely people will be in a lower tax bracket in retirement when they withdraw the money than when they earned it…
Why the CPP is snapping up ports and dorms: Mayers
– thestar.com
With interest rates below zero in real terms, big pension funds are on the hunt for things they can buy that behave like bonds. You can copy their behaviour.
