Not sure how to make a retirement plan? Read on…
Latest News
Should RRIF withdrawals be based on the younger spouse’s age? Nov 9th
I am wondering about the minimum RRIF withdrawal calculation. We are wondering if it would be beneficial to use the younger spouse’s age to result in a lower annual combined income. Can you explain the reasoning behind this?—Bernie
When can you convert an RRSP to a RRIF?
Registered retirem.... More »
Maxed out your TFSA and RRSP? Here’s where to put cash Jan 24th
Canadians have many options for saving and growing their money. They can use registered savings and investment accounts, which offer powerful tax advantages. If you’re saving up a retirement nest egg, you likely have a registered retirement savings plan (RRSP) and a tax-free savings account (TFSA).... More »
How women can start investing + MORE May 16th
Maybe you’re making a little more money these days and are curious about where to put it. Or maybe you’ve reached the age where you need to start, seriously, planning for retirement. Either way, we’re happy you’re here. The time for women to start investing is yesterday, or at least, right n.... More »
How to stay the course with your retirement plan during market volatility + MORE Apr 11th
Three days of wild market volatility sparked by U.S. tariffs is enough to cause any investor stress, but for those in retirement, the plunge can be extra difficult.
Markets have taken a nosedive after U.S. President Donald Trump’s announcement of sweeping global tariffs last Wednesday (April .... More »
Can you move income back and forth between spouses? Aug 22nd
Ask MoneySense
I have an investment property (condo) in my name. I would like to sell it and [have the proceeds] paid out half to me and half to my spouse. The plan is to make the maximum RRSP contribution for both of us to minimize the capital gain.
Is that plan OK, legal, and wise?
–Zlatko.... More »
Why GICs might be a better investment than stocks and bonds
– moneysense.ca
Financial markets have fallen quite dramatically in 2022, and that has made choosing investments even more difficult than usual. The turmoil has made many investors nervous about investing in stocks. The Toronto Stock Exchange (TSX) was down nearly 10% for the first half of 2022, and the S&P 500 stock index was down over 18%. But the thing that has many investors worried, especially the more conservative ones, is the fact that bonds fell over 12% from Jan. 1 to June 30, 2022, as measured by the Financial Times Stock Exchange (FTSE) Canada Universe Bond Index. If you’re looking for an alternative that promises a safe and predictable return, buying a guaranteed investment certificate (GIC) could be an option.
Why would an investor consider a GIC as part of their investment portfolio? Here are six reasons.
1. GICs have a guaranteed return
A GIC is a safe investment with minimal risk. For the first time in about 15 years, GIC rates have breached 5%; meanwhile, the Canada Pension Plan (CPP) is currently estimating a future 6…
