All about Retirement Planning in Canada. Learn the ins and outs and get the latest news.
Latest News
Do bonds still make sense for retirement savings? + MORE Apr 27th
Now that it’s clear interest rates bottomed some time ago and are well on an upwards trajectory, we’re seeing headlines declaring the “death of bonds.” Notable was the Globe & Mail article by veteran columnist and author Gordon Pape, announcing he was “getting out of bonds.”
W.... More »
TFSA vs RRSP: How to decide between the two + MORE Mar 30th
One of the most common questions out there is whether to invest in a registered retirement savings plan (RRSP) or a tax-free savings account (TFSA). Both will help you save, and save on taxes, but each works in a different way. Understanding how these accounts work will help you decide which is best.... More »
The one thing influencers Steph & Den want you to know about retirement + MORE Apr 26th
Financial influencer couple Steph Gordon and Dennis Mathu (@Steph & Den) started making YouTube videos about personal finance for Canadians in 2019. Once they found their groove on social media, they left their corporate jobs—Steph was in human capital at PricewaterhouseCoopers and Den was a c.... More »
Downsizing vs reverse mortgage: which option is right for you? Feb 2nd
For many Canadians approaching retirement, their home is by far their largest asset. With detached homes in major cities selling for well above $1 million, it’s not surprising that owners expect to tap into that equity to help fund their golden years, prompting the common refrain: “My home is my.... More »
Not sure what to put in your RRSP and TFSA? Make contributions anyway Feb 1st
If your financial goals include putting more money into your registered retirement savings plan (RRSP) and tax-free savings account (TFSA), here’s a strategy that can help: making year-round contributions to high-interest registered savings accounts.
Whether you’re a saver or a stock picker, .... More »
WestJet vote 62 per cent in favour of forming the airline’s first union
– canadianbusiness.com
The Air Line Pilots Association, International says more than 1,400 WestJet pilots have voted 62 per cent in favour of forming the first union at Canada’s second-largest airline.
The vote makes the ALPA, which bills itself as the world’s largest pilot union representing 55,000 pilots, the exclusive bargaining agent for WestJet pilots.
“We look forward to putting ALPA’s vast resources to work to help the WestJet pilots reach their first contract,” said Dan Adamus, president of ALPA Canada, in a statement.
WestJet chief executive Gregg Saretsky said that the airline (TSX:WJA) is disappointed with the outcome of the vote, but will now focus on engaging in constructive dialogue with the ALPA.
The company, which has long prided itself on being union-free and considers it a competitive advantage, saw its share price drop 4.2 per cent to close at $21.98.
Rob McFadyen, a member of the WestJet ALPA Organizing Committee, stated that the vote was about ensuring support in issues like health, retirement, fatigue, safety, family support and legal protection…
The vote makes the ALPA, which bills itself as the world’s largest pilot union representing 55,000 pilots, the exclusive bargaining agent for WestJet pilots.
“We look forward to putting ALPA’s vast resources to work to help the WestJet pilots reach their first contract,” said Dan Adamus, president of ALPA Canada, in a statement.
WestJet chief executive Gregg Saretsky said that the airline (TSX:WJA) is disappointed with the outcome of the vote, but will now focus on engaging in constructive dialogue with the ALPA.
The company, which has long prided itself on being union-free and considers it a competitive advantage, saw its share price drop 4.2 per cent to close at $21.98.
Rob McFadyen, a member of the WestJet ALPA Organizing Committee, stated that the vote was about ensuring support in issues like health, retirement, fatigue, safety, family support and legal protection…
Stretch your retirement nest egg
– moneysense.ca
TORONTO —Taxes are rarely a consideration for most Canadians saving up for retirement, as RRSPs and TFSAs provide generous tax-sheltering opportunities.
But once the time comes to start tapping into your nest egg, tax efficiency becomes far more complicated, experts say. In addition to drawing income from your portfolio, you’ll need to combine it with government pensions and possibly employer pensions, while accounting for potential clawbacks to government benefits like Old Age Security.
Adding to the complexities is that every person’s situation will be different, says Daryl Diamond of Diamond Retirement Planning Ltd. in Winnipeg and author of Your Retirement Income Blueprint.
How to drawdown your retirement portfolio »
“There is no one formula that applies to everyone where you push a button and that’s the solution,” he says. “This is really a point in time where people need specialized advice.”
When working with clients, Diamond says the first thing he looks at is all their different sources of income coming from registered and non-registered accounts, with a view toward long-term tax efficiency…
