Canada Retirement

40 Year-Old Retirement Fund Virgin? Time to Get in on the Action

Bob Stammers | Posted 09.17.2014 | Canada Business
Bob Stammers

Let's face it: many people work better on a deadline. This is the same mindset that leads perfectly reasonable adults to the conclusion that saving for retirement can wait until tomorrow, until they get a raise or have taken the next vacation, or until they turn 30, 35 or 40. If you are approaching 40 and have procrastinated, it's time for a gut check.

Let's Start Using Real Numbers To Discuss Public Employee Pension Plans

Richard Perron | Posted 08.27.2014 | Canada Business
Richard Perron

The order of the day was to question the very existence of defined benefit pension plans. Yet these plans not only provide much-needed income to hundreds of thousands of retirees, they also benefit society as a whole. People who have paid into these plans throughout their lives acquire a level of financial independence that makes them much less dependent on government assistance in old age.

How Smart is Smart Beta, Really?

Bob Stammers | Posted 08.14.2014 | Canada
Bob Stammers

It has been said that in investing, what is comfortable is rarely profitable. This perhaps explains why the investment landscape is littered with novel and sometimes unsuccessful money making strategies.

We Are Living Longer and Not Saving. Let's Change That

Anita Saulite | Posted 08.12.2014 | Canada
Anita Saulite

The fact is we are living longer and not saving. And most of us have no idea how much to save in order to have a care-free retirement that reflects our lifestyle needs. Recent research suggests that a nest egg of $750,000 is required.

When it Comes to Pensions, Plan for the Worst and Hope for the Best

Tim Paziuk | Posted 08.08.2014 | Canada Business
Tim Paziuk

I always tell people that those who plan ahead stand a better chance than those who don't. Don't risk being blown off course by a sudden change in the wind. As sailors say, "plan for the worst and hope for the best."

In-Home Care Can Be Simple, Comfortable and Safe

Eva Zatrak | Posted 09.15.2014 | Canada Living
Eva Zatrak

You may need personalized care, yet all of the options are far too expensive from what you've heard. It is time to explore your options, maintaining your independence and your bank account. You deserve a comfortable retirement.

Reduce the Forced RRIF Minimum Withdrawal

Tim Paziuk | Posted 09.06.2014 | Canada Business
Tim Paziuk

If the government doesn't like the idea of removing withdrawal minimums, they should at least peg minimum RRIF withdrawals to current government bond yields. Forcing someone at age 72 to take out 7.48 per cent when they're only earning 2.5 per cent is simply not fair.

Don't Invest in Worries

Tim Paziuk | Posted 08.13.2014 | Canada Business
Tim Paziuk

If you're an average Canadian, you probably own a principal residence and have a few dollars invested or saved somewhere. If you have money invested in stocks, bonds or real estate, you may be concerned about losing your money. This is a reasonable thought; although, depending on what you're invested in, your concern (read: worry) is probably a waste of time.

Catching Up: How To Start Saving For Retirement If You Haven't Already

Posted 06.02.2014 | Canada Living

Over the past few years, numerous articles and studies have begun to report that Baby Boomers aren’t saving enough. In fact, a 2012 survey found tha...

Not Your Father's Retirement: How Boomers Live Differently After Work Ends

Posted 05.05.2014 | Canada Living

If you are a card-carrying member of the Boomer generation, you’ve got a new focus after years spent at the office and raising kids: retirement. Cha...

Why Baby Boomers Need to Worry

Timi Gustafson, R.D. | Posted 07.02.2014 | Canada Living
Timi Gustafson, R.D.

Weight issues are among the most common causes of health problems affecting boomers. Two-thirds have made at least one dietary adjustment to lose weight, and more than half to reduce cholesterol levels. Overall, this generation seems better informed about the ins and outs of nutritional health than its predecessors.

Crowded Nest Syndrome: How To Manage Retirement With Adult Children At Home

Posted 04.21.2014 | Canada Living

Long gone are the days when your children living with you held a clear expiry date. These days, it’s become just as common for young adults and grow...

Boomer Confidential: 5 Things No One Knows About Retirement

Posted 04.14.2014 | Canada Living

The Canadian workforce is changing as hordes of baby boomers prepare for retirement and masses of underemployed Gen Xers and Millennials vie to take t...

The Australian Pension System Won't Work For Canada

Robert L. Brown | Posted 06.08.2014 | Canada Business
Robert L. Brown

Now, in Australia, you get a lump sum pay-out (hardly any Aussies annuitize their lump sum). Once again, you have to manage your retirement on your own. Now, even if you knew exactly when you were going to die, this would be difficult, but when you have no idea of your personal life expectancy, this is a problem beyond the capabilities of the average Canadian.

Five Steps Towards a Golden Retirement

Cleo Hamel | Posted 06.07.2014 | Canada Business
Cleo Hamel

The good news is, a properly planned retirement is possible. But it can't be achieved passively. Now is the time to be aggressive about taking responsibility for your retirement plan and take the action necessary to put it in motion. These five steps are a place to start.

What Most People Don't Understand About Work and Happiness

Sheldon Dyck | Posted 05.31.2014 | Canada Living
Sheldon Dyck

Why is the difference in people's happiness massive when they make $80,000 instead of $50,000, but negligible when they make $200,000 instead of $100,000? Why are some of the unhappiest people in our society the children of enormously wealthy parents?

How Much Money Do You Really Need to Retire?

Bob Stammers | Posted 04.29.2014 | Canada Business
Bob Stammers

Do you become a different person when you retire? Will your values, sense of humour, and pastimes change? Probably not. So why do many investors focus on amassing as much money as possible for retirement instead of considering what their liabilities will be and planning appropriately?

Top 10 Dumb Things People Say About Pensions

Susan Eng | Posted 04.24.2014 | Canada
Susan Eng

Canadians are certainly living longer, healthier lives but not everyone. Twenty four percent of seniors have multiple chronic conditions and take on average 5 different prescription meds. Older workers who lost their jobs in the late 1990s had three times as much difficulty getting new ones as their younger counterparts and they either got jobs within the first two years or not at all.

Are You Emotionally Prepared to Retire?

Cindy Crean | Posted 04.21.2014 | Canada Living
Cindy Crean

While every individual situation is different, there are some things one can do to prepare for their retirement, especially with the RRSP deadline just around the corner. This is a time of year we all think about saving and it is a good reminder, however a well thought out plan can help you ensure you save regularly and are not playing catch up when time is running out.

Canadians See Rose-Coloured Retirement

CP | Romina Maurino, The Canadian Press | Posted 04.21.2014 | Canada Business

TORONTO - Canadians are feeling increasingly optimistic when it comes to retirement.A Sun Life survey conducted in November has found that, on average...

Have You Met Your RRSP?

Shaun Goolcharan | Posted 04.16.2014 | Canada
Shaun Goolcharan

Each year you are required to take out a portion of your savings from your RRIF, which is subject to tax, but there's no limit on how much you can withdraw. In addition you can name your spouse as a beneficiary, so RRIF assets can be transferred to your spouses' RRIF or RRSP on your death. You can't keep your savings in an RRSP forever.

Ten Questions to Ask Yourself Before Becoming Your Parent's Caregiver

Eva Zatrak | Posted 03.28.2014 | Canada Living
Eva Zatrak

Remember that when you take on the role, often the condition of the parent is not too bad, but one must be aware that in reality they most likely going to decline in the future. Can you cope with this? Generally caregivers do not stop until they drop from exhaustion.

How Much Rich Canadians Say They Need To Retire

CP | The Canadian Press | Posted 03.19.2014 | Canada Business

TORONTO - No need to pity the affluent, even if they have to save more than twice as much as average Canadians before retiring.A new poll issued by BM...

Good News For Young Job-Seekers

CP | Matt Sedensky, The Associated Press | Posted 03.05.2014 | Canada Business

CHICAGO - A surge of older people staying on the job has spurred what economists say is an unfounded fear that it will result in fewer jobs for the yo...

CPP Increase Opponents Sound Hysterical

Susan Eng | Posted 02.12.2014 | Canada
Susan Eng

The employer groups that vehemently oppose CPP hikes mostly don't offer any pension support for their employees. And their arguments are increasingly hysterical. They are still calling any CPP increase a "job killer" and managed to convince the junior minister of Finance to parrot their talking points.