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What’s more important: your wealth or your legacy? + MORE Nov 12th
Ask MoneySense
My dad is 77 years old and we live together in a house worth $840,000, which we own together. Dad retired at age 70 and commuted his pension so he would have money to leave to me. He has about $580,000 divided between a LIF and a RRIF and his CPP is $17,000 and OAS $9,500. He lives on.... More »
Shocking claims: Four outrageous income tax deductions + MORE Apr 5th
For most Canadians, income tax season is an opportunity to think outside the box and test the limits of what can be claimed. Take a look at some of the more daring tax claims Canadians have made over the years..... More »
How much credit card debt does the average Canadian have? + MORE Nov 7th
As the country re-opens after COVID-related restrictions, Canadians are faced with a worrying financial picture. Many have moved, others are looking to travel, and the cost of living is ballooning with unusual rates of inflation. Meanwhile, the Bank of Canada (BoC) rate hikes designed to curb these .... More »
Rolling in the Debt: Canada sees a rise in Household Debt + MORE Mar 22nd
While the value of Canadian homes has decreased for the first time many years, the same cannot be said for Canadian debt levels. This past week, Statistics Canada released its National balance sheet and financial flow accounts looking at the last quarter of 2018, and it shows that the amount Canadi.... More »
How does a LIRA work after a pension transfer? Feb 22nd
Q: I recently transferred my pension from Bombardier to Sun Life. I completed all the documentation and expected the fund to be transferred to an RRSP “Fidelity Clear Path 2035 Port Seg Fund” with around $70,000. Instead Sun Life has put the funds into a LIRA with the same account allocations .... More »
Defined-benefit plans are great: We already knew that
– moneysense.ca
From the blindingly obvious file today comes a study conducted by the Boston Consulting Group that finds defined-benefit pensions provide major benefits to the economy and that DB recipients are far less likely to need Ottawa’s Guaranteed Income Supplement (GIS).The group says only 10 to 15% of DB beneficiaries collect the GIS, compared with almost half (45 to 50%) of other Canadian retirees. Well, that should be obvious: as a supplement to Old Age Security, the GIS goes mostly to the poorest of Canada’s seniors. Anyone with a significant amount of Canada Pension Plan income and a DB plan is unlikely to collect much if any GIS. In fact, I’m surprised that even 10 to 15% do. Not for nothing do some quip that “a consultant is someone who borrows your watch and then tells you what time it is.”
Small towns especially benefit
In most cases, DB pension income means losing GIS income. The study finds DB pensions reduce the annual payout of GIS by $2 to $3 billion a year, which is a savings for Ottawa…
As pension reform stalls, pooled plans are worth a look
– thestar.com
For the last three years Ottawa and the provinces have been debating ways to enhance retirement savings.As pension reform stalls, pooled plans are worth a look
– thestar.com
For the last three years Ottawa and the provinces have been debating ways to enhance retirement savings.Seven Halloween Costumes Already in Your Closet
– walletpop.ca
Filed under: Family Finances, Saving, Shopping, Television, Holidays, Your HomeHalloween is creeping up on us again. Pumpkins are popping up on porches, ghosts, bats and spiders are hanging from houses, and there’s a lot of talk about what people have planned for our annual night of trick-or-treating.
If you’re still without costume for this year’s festivities, don’t be fooled into thinking you’ve got to run out to a big box-store for the perfect $30 fireman outfit or superhero suit. Sometimes the most creative costumes (not to mention the most inexpensive) can come straight out of your own home. They’re also the ones that are usually the easiest to move around in.
Here are some ideas for costumes that might be lurking in your closet:
SLIDESHOW: Halloween Costumes You Have at Home
RELATED LINKS:
10 of the Best Budget-Friendly Halloween Party Ideas
Should You Dress Up for Halloween at Work?
Found at the Dollar-Store: Spook-tacular Savings on Halloween
Seven Halloween Costumes Already in Your Closet originally appeared on Walletpop Canada on Thu, 24 Oct 2013 14:00:00 EST…
