What’s the Rule of 30? And what does it have to do with income and retirement? + MORE Oct 26th

Retirement planning getting you down? There are always smart ways to plan the financial aspects of your retirement.
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How GICs can help you save for your short-term goals + MORE Nov 23rd

Let’s talk about short-term savings. By short-term, we’re talking about putting away money for a few months, or even a few years, for a big goal, like a vacation, a wedding or a down payment on a home. Where should you put your savings so they’ll be secure and work for you? When saving,.... More »

What the right ETFs can do for you Nov 30th

Jonathan Chevreau will be presenting: The MoneySense ETF All-Stars and Their Role in Establishing Financial Independence and Generating Retirement Income on Thursday, December 2, 2021 at 12:25 p.m. to 12:55 p.m. EST. Now in its ninth year, the ETF All-Stars helps Canadian investors narrow down the f.... More »

Affordability tips for first-time home buyers to securing a mortgage Nov 2nd

Q. My partner and I rent a two-bedroom apartment in Toronto in a great neighbourhood for $1,850 a month—so, a great deal. We have been living together for three years and would like to buy a house together next year, when we both turn 30. Get the mortgage rate that works for you.Find the bes.... More »
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What’s the best way of using your home equity during retirement? Nov 9th

Not sure how to make a retirement plan? Read on... What’s the best way of using your home equity during retirement? - thestar.comContinue Reading On thestar.com »Getting the most out of your Retirement Plan in Canada can be tricky - let us help! Visit our Retirement page for.... More »
A MoneySense reader writes:

When my spouse was a kid, his dad gave him a few physical share certificates of BCE. But this was a long time ago, and he didn’t do anything with them. In fact, he didn’t even know where the actual certificates were. 

Recently, he came across the actual share certificates. Now we’re wondering what he should (or can) do with them. He doesn’t have any interest in continuing to own the physical shares, but we have no idea how to convert them into cash or contribute them to a TFSA or RRSP. Can you help? 

FPAC response:

Congratulations to you and your spouse! Discovering those BCE certificates must feel like quite a windfall. 

BCE (formerly Bell Canada Enterprises) is a publicly traded Canadian holding company for Bell Canada and is one of Canada’s largest corporations. 

Your spouse’s stock certificates are pieces of paper that physically represent his ownership shares in BCE. Most shares are issued in electronic form today, but shares from 20 or 30 years ago might have been issued in paper or certificate form…

Continue Reading On moneysense.ca »

If you’ve never heard of the Rule of 30, welcome to the club. You may be hearing about it more though. This month, retirement expert and semi-retired actuary Fred Vettese is publishing a new book: The Rule of 30: A Better Way to Save for Retirement (ECW Press, 2021). 

I thought initially this new rule sounded familiar: Back in 1998, another actuary, Malcolm Hamilton wrote the foreword for my co-authored book, The Wealthy Boomer, which talked about the Rule of 40, as it applied to mutual fund fees. The Rule of 30, however, is quite different. 

In a nutshell, the 30 idea is a rule of thumb financial planners can use to guestimate how much young couples starting off on their financial journeys need to save for retirement. Rather than state something like save 10%, 12% or 15% of your gross (pre-tax) income each and every year, The Rule of 30 views retirement saving as occurring in tandem with daycare and mortgage repayment. 

From the get-go, Vettese suggests young couples allocate 30% of their gross or after-tax income to those three major expenses: Retirement savings, daycare costs and mortgage payments…

Continue Reading On moneysense.ca »

I’m saving for a long-term goal — should I use an RRSP or a TFSA?We asked personal finance expert Chuck Grace whether contributing to an RRSP or a TFSA is a wiser option for long-haul savings.

Continue Reading On thestar.com »

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