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Are Canadians Ready For Retirement? Not Even Close, Broadbent Institute Says + MORE Feb 17th
Half of Canadians aged 55 to 64 who don't have an employer pension have less than $3,000 saved up for retirement.
That’s one of the many staggering numbers in a new report on seniors’ finances from the Broadbent Institute, released Tuesday.
“This new data on retirement savings and gaps in su.... More »
Making sense of the markets this week: March 3, 2024 + MORE Mar 5th
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. And Stephanie Griffiths was an award-winning investor for almost 20 years before returning to her roots in journalism. She is .... More »
26 ways the 2018 Ontario Budget affects your wallet + MORE Mar 29th
If there’s any way to describe the 2018 Ontario budget, it’s the word “free”. From free preschool daycare to free university tuition, to free drugs for those age 65 and over, there’s freebies for everyone—and lots of tax credits too.
Low-income earners and social assistance recipients
.... More »
Serve Up Thanksgiving Savings! + MORE Oct 14th
Autumn is in full swing, and with it, the Thanksgiving long weekend. For many Canadians, this kicks off one of the most expensive times of year, as holiday consumerism kicks into high gear. But you don’t need to rely on your credit card to be festive – we’ve got a few juicy tips for carvi.... More »
Should I work past 70 while collecting CPP and OAS? + MORE Sep 7th
Q: I turned 67 in February of 2016. I still work full time and my yearly income is about $96,000 annually. I also collect a survivor benefit of $389 per month and have contributed to CPP for 14 years. I would like to delay collecting CPP and OAS until 70 but can I still work after age 70 while I.... More »
Canadian Debt Levels Are Higher Than Ever… But We’re Not Worried
– ratesupermarket.ca
When it comes to financial goals, debt repayment is the top New Year’s Resolution for many Canadians. In a blog post I wrote just last month, I discussed how Ontarians are choosing debt over retirement savings. Despite the fact that we’re finally starting to listen to the Bank of Canada’s message that interest rates aren’t going to be low forever, Canadians keep piling on debt. Even if you want to repay your debt, it could take some people a few years or longer to get their debt fully paid off.
Consumer Debt Continues to Rise
The facts don’t lie – Canadians love spending. The household debt-to-income ratio hit a new high in the third quarter of 2013, reaching 163.7 per cent. Although it’s not the best measure of consumer debt, it shows that Canadians continue to take on debt, despite the warning bells.
A recent survey from Equifax paints an even bleaker picture. Consumer debt, including mortgages, in Canada totaled $1.422 trillion in the fourth quarter of 2013, according to credit rating service…
2014 Conservative Budget Highlights You Should Know About
– ratesupermarket.ca
This Tuesday, February 11, 2014, Finance Minister Jim Flaherty unveiled the 2014 federal budget. While the government is still focused on eliminating the country’s deficit – it’s currently projected to be about $2.9 billion this year – there are a few carrots for some Canadians in this latest rendition. Here’s our breakdown of what to look for from the government this year.
No Income Splitting… Ever?
First off, one anticipated budget item that didn’t actually the cut is income splitting. Income splitting, which would allow Canadian families to “share” up to $50,000 of income in order to reduce their marginal tax rate, was a key part of the Conservatives election campaign platform in 2011.
While not particularly fiscally conservative (the plan could cost federal coffers up to $2.5 billion in lost tax revenue), it’s intended to target the more socially conservative wing of the party’s support. Specifically: families with stay-at-home moms. Critics have argued that the program would only really benefit a small percentage of Canada’s wealthiest families, while offering no tax-savings for single-parent families, or those where both parents are working for comparable, modest salaries and having to pay for childcare…
How to cut your hydro bill without really trying
– thestar.com
Energy prices are going nowhere but up. Home energy monitors are one way to help you find savings.How to cut your hydro bill without really trying
– thestar.com
Energy prices are going nowhere but up. Home energy monitors are one way to help you find savings.
