Not sure how to make a retirement plan? Read on…
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Making sense of the markets this week: December 10, 2023 Dec 14th
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.
Interest rates stay the same—bank accounts, not so much
As was widely anticipated, the Bank of Canada (BoC) chose to k.... More »
Stock news: Dividend hikes, earnings results, and what moved Canadian stocks this week + MORE Feb 7th
Here’s a round-up of news for Canadian investors this week.
Suncor
ATS
Brookfield
Thomson Reuters
BCE
Canada Goose
Featured RRSP Accounts
featured
EQ Bank
Build your r.... More »
Pension income splitting explained Jan 20th
Q: I am 62 years old and I receive a pension from my work. At the same time, I am still working part time. My question is can I split my pension with my husband who is 64 years old? He is retired with no pension from his work.
I would appreciate if you can educate me regarding income splitting.
.... 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 »
How much real estate should you have in a balanced portfolio? May 11th
When investors talk about income-producing assets, the first that come to mind are dividends and interest, with capital gains a close third. But what about investment real estate? If you hold an asset allocation ETF, it will be chock full of stocks and bonds but offer little real estate exposure apa.... More »
Using real estate vs. RRSPs to fund retirement
– moneysense.ca
Q: We have three rental properties in Vancouver (one is mortgage free) and own our own home (mortgage free) in the Fraser Valley.
We are both retirement age.
Should we use RRSP/ RRIF or sell the rental properties?
We have been told by different advisors conflicting opinions.
—Lee
A: Congratulations on your upcoming retirement, Lee. If you’ve owned those rental properties for more than a couple years, no doubt you’ve benefited nicely from Vancouver price appreciation.
I’ll tell you right off the bat that this isn’t one of those questions where there is an easy, obvious answer. What you should do is a personal decision, but I’ll try to highlight some of the considerations.
Ask a Planner: Leave your question for Jason Heath »
Selling real estate is expensive. Of course, there’s the obvious real estate commission payable, which is generally 7% on the first $100,000 and 3% on the balance of the sale price in BC. Some agents charge more or less. Some agents do cash back. And companies offering discounted commissions as low as 1% have gained popularity in cities like Vancouver where prices are high…
What to expect when receiving OAS at 65
– moneysense.ca
(Shutterstock)Right after tax season I received in the mail one of those little brown envelopes from the federal government. No, they weren’t after me for more tax money but the opposite: it was from Service Canada and they were proposing to send ME money as of my next birthday. The letter informed me that having met three criteria, I was eligible to receive the Old Age Security (OAS) pension as of my 65th birthday in April 2018.
Better yet, I didn’t even have to apply: if I didn’t respond, they would send a cheque to the address they had on file. The letter says if their three facts about you are correct “and you wish to receive your OAS pension at age 65, you do not need to return this letter nor contact us. We will send you more information and your payments will begin in the month following your 65th birthday.”
Sweet! Money for nothing and no paperwork or decision-making required! But of course things are seldom that easy. If I wished to defer the pension (for an enhanced return, which grows the longer you wait, by 0…
