How to go about securing the best Retirement Plan in Canada.
Latest News
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 for investors: Air Canada Q3 profit plunges to as strike weighs on results + MORE Nov 8th
Here’s a round-up of news for Canadian investors this week.
Air Canada
Fortis
Thomson Reuters
Suncor
Cameco
Maple Leaf Foods
Sun Life Financial
Cineplex
Corus Entertainment
Xanadu Quantum Technologies
Featured RRSP Accounts
.... More »
Is the 4% Rule obsolete? + MORE Aug 3rd
Over the half decade I’ve written this column and attempted to practice what it preaches, a central pillar has been the so-called 4% Rule. As originally postulated by Certified Financial Planner and author William Bengen, that’s the rule of thumb that retirees can safely withdraw 4% of the value.... More »
Stock news for investors: Cineplex and Aritzia post strong results despite industry headwinds + MORE Oct 11th
Here’s a round-up of news for Canadian investors this week.
Cineplex
Aritzia
Trilogy Metals
Barrick Mining
Cenovus-MEG Energy
Featured RRSP Accounts
featured
EQ Bank
Buil.... More »
How to plan for retirement when you have no pension + MORE Sep 13th
In years past retirement planning was relatively easy. Fifty years ago, more than half of working Canadians, and an even higher proportion of men, could fall back on a corporate or union pension plan as their main source of income in retirement.
That’s no longer the case. Just 38% of paid work.... More »
Does a spouse’s real estate ownership cancel out first-time homebuyer qualifications?
– moneysense.ca
Q. My husband and I married recently, and we have lived together in a rental apartment since we got engaged and married. He has a condo, which he purchased seven years ago, but he has not lived there for the past three years. I’ve never lived in that condo and he didn’t use the Home Buyers’ Plan to purchase it. If we were to purchase a property together, to live in as our matrimonial home:
Am I eligible to use first-time homebuyer programs? How about my husband?
If I am eligible, but my husband is not, can I buy a joint property and I still use first-time homebuyer benefits?
–Meredith
A. There are a few first-time home buyer incentives from the federal and provincial governments. The Home Buyers’ Plan (HBP) allows a withdrawal of up to $35,000 from your Registered Retirement Savings Plan (RRSP) to use towards the purchase of a qualifying home. Both spouses can utilize the $35,000 limit if they qualify.
And to qualify, you must be a first-time home buyer, meaning you did not occupy a home that you or your spouse owned in the four years prior to buying a home…
Q. A few years ago, I joined a public sector employer with a hybrid defined-benefit, minimum-guarantee pension plan that will allow me to move RRSP contributions made elsewhere, into the employer’s plan.
I have been told that the transferred money would have to remain locked-in until I retire or leave the organization. The total value of the pension plan, including the contribution of employees, employer and returns, is around $2 billion.
Recently, I compared the last 10 years of performance of my RRSP investments with my employer’s DB pension returns, and I noticed the DB pension plan would have offered around 36% more accumulated growth on the original starting capital.
I have 10 to 12 years until retirement and I am seriously considering having my RRSP money transferred to the pension plan. Should I be taking anything else into consideration before making this decision?
–Jaspal
A. Jaspal, great that you are paying attention to your investments and doing a double-check before making a big change…
I have been told that the transferred money would have to remain locked-in until I retire or leave the organization. The total value of the pension plan, including the contribution of employees, employer and returns, is around $2 billion.
Recently, I compared the last 10 years of performance of my RRSP investments with my employer’s DB pension returns, and I noticed the DB pension plan would have offered around 36% more accumulated growth on the original starting capital.
I have 10 to 12 years until retirement and I am seriously considering having my RRSP money transferred to the pension plan. Should I be taking anything else into consideration before making this decision?
–Jaspal
A. Jaspal, great that you are paying attention to your investments and doing a double-check before making a big change…
