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The 60/40 portfolio: A phoenix or a dud for retirees? + MORE Oct 26th
For Canadian investors, one of the biggest shocks of 2022 is how poorly balanced mutual funds, exchange-traded funds (ETFs) and portfolios have performed. Investors with funds based on the classic pension fund asset allocation of 60% in stocks and 40% in bonds have been bewildered to experience loss.... More »
How job changes can affect your taxes + MORE Mar 28th
Landing a new job or being laid off from your current position can be life-changing—whether it’s an exciting transition, a tough stretch or a chance at a fresh start. But months after the dust settles, people often forget that job changes can also impact that year’s tax return. Expe.... More »
Stock news for investors: Dollarama, Transat and Roots release earnings Jun 13th
Here’s a round-up of news for Canadian investors this week.
Dollarama
Transat
Roots
Featured RRSP Accounts
featured
EQ Bank
Build your retirement savings with 2.00% interest, t.... More »
Creating a will is the “adulting” milestone you need to hit this year Jul 21st
When it comes to self-improvement, most of us have a hard time with follow-through—and whether you stuck to your Keto diet or not, there are likely items on your financial to-do list that just never get crossed off. One of the easy actions to delay is creating a will. After all, no one wants to th.... More »
Should retirees speculate? + MORE Nov 16th
All investors need to know the difference between investing and speculation—often summed up as what you do with “serious money” versus “fun money”—and that’s doubly true for those at or near retirement. While investing is about building wealth you can count on, speculating typically me.... More »
Why the $35,000 RRSP Home Buyers’ Plan won’t be much help
– moneysense.ca
It’s been about a week since federal budget day and I still have questions about some of the things the government announced. For instance, why did they introduce a deferred annuity, which will allow Canadians to put 25% of their RRSP or RRIF into an annuity that must start paying out by 85 at the latest, instead of pushing back the RRIF withdrawal age limit? With more people working past 65, changing the withdrawal limit from 71 to, say, 75, would have allowed people to invest longer and then drawdown savings later in life when they really need it.
The biggest head-scratcher for me, though, was around the RRSP Home Buyers’ Plan. I still can’t figure out why the Liberals decided that letting first-time homebuyers withdraw $35,000 from their RRSP, which they still have to pay back over 15 years, instead of $25,000 is the answer to Canada’s housing problems. It seems to me that it only benefits professionals in Toronto and Vancouver who are already making good money and can afford a home whether they’re saving in their RRSP or not…
The biggest head-scratcher for me, though, was around the RRSP Home Buyers’ Plan. I still can’t figure out why the Liberals decided that letting first-time homebuyers withdraw $35,000 from their RRSP, which they still have to pay back over 15 years, instead of $25,000 is the answer to Canada’s housing problems. It seems to me that it only benefits professionals in Toronto and Vancouver who are already making good money and can afford a home whether they’re saving in their RRSP or not…
