All about Canadian Savings. Learn the ins and outs and get the latest news.
Latest News
Trump turned over tax returns – for lawsuits, loans, casinos Sep 28th
WASHINGTON – While Donald Trump won’t publicly release his income tax returns, the New York businessman has turned them over when it suited his needs — if he stood to make a profit, needed a loan or when a judge forced him.
Pennsylvania gaming regulators were given at least five years&.... More »
Lower RRIF withdrawals a hit with readers: Roseman + MORE Jun 17th
The C.D. Howe Institute wants more flexibility in how retirees cash in their tax-deferred savings plans. Many Star readers like the idea..... More »
India seeks tycoon’s extradition, says UK nixes deportation + MORE May 11th
NEW DELHI – India says it will ask Britain to extradite business tycoon Vijay Mallya to face charges of money laundering and bank demands that he pay back more than a billion dollars in loans extended to his now-defunct airline.
Finance Minister Arun Jaitley says the UK will not simply deport .... More »
Power of attorney and taxes: What you need to know + MORE Oct 13th
@media all and (min-width: 1008px) and (max-width: 1264px) {
.tab-nav li.menu-item a{
padding: 22px 18px;
}
}
Q: If we have a client in Nova Scotia that has power of attorney for their mother who is in a nursing home and both children with POA own a home, will they be responsible for any capita.... More »
Don't take government grants for granted + MORE Sep 23rd
When it comes to saving for a child’s education, there are many savings options available to you including non-registered accounts, Tax-Free Savings Accounts (TFSAs) and Registered Education Savings Plans (RESPs). Arguably, each type of investment vehicle has its own merits..... More »
Home expected to fund retirement for one-quarter of Canadians
– moneysense.ca
Nearly one-quarter of Canadians plan to tap their home as a primary source of income after they leave the workforce, according to the 2014 Sun Life Canadian Unretirement Index. The survey also found that more than half (56%) plan to work past the traditional retirement age of 65, most out of necessity.Still, the average expected retirement age fell to 66, the lowest level in the last four years of the survey’s existence (down from a high of age 69 in 2011).
“With people living longer and more Canadians expecting to retire sooner, it’s important to look at what savings you will need to be fully prepared and how having a financial plan can help protect against risks that can be magnified in retirement such as market shocks and health events,” Kevin Dougherty, president of Sun Life Financial Canada said in a press release.
Canadians on average expect approximately 10% of their retirement income to come from home equity, with another 30% to come from government plans, 27% from personal savings, 23% from employer pension plans, 5% from an inheritance and 6% from other sources…
RRSP not needed for these newcomers
– thestar.com
Monday Makeover looks at a couple who came to Canada 10 years ago. They have a good income, but are late to retirement savings.RRSP not needed for these newcomers
– thestar.com
Monday Makeover looks at a couple who came to Canada 10 years ago. They have a good income, but are late to retirement savings.
