Canada Retirement

Canadians Need A Better Public Pension Plan Not Empty Promises

Susan Eng | Posted 05.20.2016 | Canada Politics
Susan Eng

The Trudeau government's first budget offered hope but little change on increasing the CPP in our lifetime. After extolling the virtues of the Canada Pension Plan, we're told that the finance ministers talked about enhancing the CPP last December and set a goal of making a collective decision before the end of 2016.

For Healthy Aging, Stay In Control

Timi Gustafson, R.D. | Posted 05.18.2016 | Canada Living
Timi Gustafson, R.D.

Being able to make decisions for themselves signals people that they are still alive and that their lives still have meaning, Duhigg writes. Even deciding to stage a nursing home insurrection can become proof that someone is alive and can assert authority over his or her actions.

It's Time To 'Un-Park' Those Last Minute RRSP Contributions

Cindy Crean | Posted 04.18.2016 | Canada Business
Cindy Crean

Now is a great time to re-visit your portfolio. Investing too conservatively could impact your ability to reach your long-term goals. In fact, you could actually be losing money once you factor in inflation, especially in today's low interest rate environment.

Liberals' 2016 Budget Opts For Big Spending Over Restraint

Alexandre Laurin | Posted 03.23.2016 | Canada Business
Alexandre Laurin

We've seen this story before in the mid-1990s, when out-of-control deficits and an impending sovereign debt crisis led to painful spending cuts and tax increases. The government is wrong to make the return to budget balance conditional on strong economic growth. Population aging is already taking its toll on long-term projections, and too many unforeseen events can derail the fiscal path. Only tight fiscal discipline can balance the budget within a reasonable timeframe, protecting Canadians' standards of living from future large tax increases and cuts to government services.

A Lack Of Planning Can Land You In The Retirement Trap

Timi Gustafson, R.D. | Posted 03.21.2016 | Canada Living
Timi Gustafson, R.D.

Routines that helped structure their days and that are now falling by the wayside can leave a considerable void. Those who have no plans other than getting more sleep or enjoying a favourite pastime (golf comes to mind) can find themselves unprepared for that extra amount of leisure.

Owning Stocks In Retirement Is Not As Risky As Some People Think

Tim Paziuk | Posted 03.18.2016 | Canada Business
Tim Paziuk

If you're retired and living off the interest you receive from your fixed income investments (regardless of what the interest rate is), your capital is dropping in value every day. This drop in value is not noticeable on your statement, but is certainly noticeable when spending your money.

'Manopause' Is Real And Should Not Be Ignored

University of Toronto News | Posted 03.07.2016 | Canada Living
University of Toronto News

A 65-year-old man notices he's feeling more tired lately. He's gaining weight and losing muscle. He can't get as many erections, and generally feels foggy and unwell. His family doctor takes some blood tests and rules out thyroid problems, high cholesterol and blood sugar issues. The only finding is low testosterone -- but that's a normal part of aging, right?

Elders Living Alone With Their Abusers Are The Worst Off

University of Toronto News | Posted 03.04.2016 | Canada Living
University of Toronto News

A new study examining elder abuse -- released by researchers at the University of Toronto, Cornell University and Weill-Cornell Medical College -- has found that older adult victims living alone with their abuser were up to four times more likely to endure more severe levels of mistreatment.

Canada And Mutual Fund Fees: Why We're Failing

Ludovic Siouffi | Posted 02.26.2016 | Canada Business
Ludovic Siouffi

In a 2015 global study by Morningstar, Canada's investment environment was rated the worst in the developed world when it came to Fees and Expenses. Don't worry, though, there's good news; our D- score is up from the F earned in 2014. The real question is the implication of our less-than-impressive grade.

Is It Our Fault That We Are Not Saving Enough For Retirement?

Douglas Hoyes | Posted 02.25.2016 | Canada Business
Douglas Hoyes

While it is a worthy goal to maximize your savings prior to retirement, it is even more important that you retire debt free. If you retire and are still making payments on car loans, mortgages, or high interest rate debts like credit cards and payday loans you require a much higher income in retirement to survive.

Last-Minute RRSP Contribution? Avoid These Common Mistakes

Cleo Hamel | Posted 02.22.2016 | Canada Business
Cleo Hamel

The first major financial deadline of 2016 is February 29. This is the last day you can make a contribution to your Registered Retirement Savings Plan (RRSP) and claim the contribution on your 2015 tax return. You still have the first 60 days to make contributions but with the leap year, the deadline is midnight at the end of the month.

Make This The Year Of A New Financial Strategy

Cindy Crean | Posted 02.12.2016 | Canada Business
Cindy Crean

The 2015 Sun Life Financial Annual Check-Up found that 66% of Canadians say their debt level is the same or worse than it was at this time last year. Though 67% say they're optimistic about 2016, only 13% note that paying down debt is among their top three New Year's resolutions. Just four per cent rank savings as a top resolution. Now is the time to make that change!

3 Simple Ways To Save Taxes

Ludovic Siouffi | Posted 02.03.2016 | Canada Business
Ludovic Siouffi

Today, it takes more brains and effort to make out the income-tax form than it does to make the income. - Alfred E. Neuman 1) Prioritize Three Contri...

Know Your RRSP Contribution Limit On Deadline Day

Tea Nicola | Posted 02.24.2016 | Canada Business
Tea Nicola

With the deadline looming, you may wonder how much you can contribute to your RRSP. The simple answer is 18 per cent of your income, each year, but of course there are some additional details to understand.

5 Vital Retirement Planning Tips

Pramod Udiaver | Posted 01.29.2016 | Canada Business
Pramod Udiaver

The average Canadian life span is steadily increasing and is currently in the mid-80s for both men and women. Plan to keep working as long as you can to build a portfolio that will support you well into your 90s. Start saving early even if it is a small amount of money today. It's the little drops of water that make the mighty ocean!

Are Men Afraid To Retire?

CP | Victoria Ahearn, The Canadian Press | Posted 01.22.2016 | Canada Business

Some advice for those contemplating retirement.

Saving For Retirement: Choosing Between RRSP And TFSA

Wade Stayzer | Posted 01.21.2016 | Canada Business
Wade Stayzer

We all know that we should put money away for our retirement. The message has hit home and fortunately many of us are putting away at least 10 per cent -- if not more -- of our net income for our senior years. While this is undoubtedly a good thing, there still exists some confusion about these savings vehicles.

'Green Banana' Dilemma: Should Seniors Curtail Purchases?

Robert Waite | Posted 01.12.2016 | Canada
Robert Waite

Recently I needed to renew my Canadian passport. To my surprise, I was given a choice: Renew for five years (Canada's customary period) for $120, or f...

Do You Really Need An RRSP?

Cleo Hamel | Posted 01.11.2016 | Canada Business
Cleo Hamel

The younger generation does not have the same kind of job security and employers are hiring more people on contract. Some people will choose to start their own businesses instead of being employees. Workplace pension plans are almost extinct. Now it would seem that saving for your retirement is up to you.

Don't Make These RRSP Mistakes When The Market Is Crashing

David Lester | Posted 01.11.2016 | Canada Business
David Lester

The stock market can be more about emotions than economics. Going with the herd and selling in times like this is never the right decision. Boomers need to secure their gains and Millennials need to buy more when opportunities show themselves -- the complete opposite of what happened in 2008.

How To Transition Into An Encore Career

Lyndsay Green | Posted 01.06.2016 | Canada Living
Lyndsay Green

Are you on life's last lap and have yet to make a real difference? That's the angst of some boomers who came of age believing they would change the world, but then life got in the way. Now retiring from the jobs that derailed them from their dreams, they're hoping it's not too late to leave a legacy.

RRSPs Can Be Used For More Than Retirement

Wade Stayzer | Posted 01.05.2016 | Canada Business
Wade Stayzer

With penalties and repercussions feared as a result of such withdrawals, is it any wonder that Canadians are hesitant to take what they would consider to be an unnecessary financial hit? Yet there are opportunities for RRSP funds to be withdrawn without specific penalties.

Bridging The Boomer-Millennial Gap And Overcoming The Succession Challenge

Pierre Somers | Posted 12.17.2015 | Canada Business
Pierre Somers

The problem is that right now, for every two retiring senior executives, there is only one suitable successor waiting in the wings. We are in the midst of a serious succession challenge that needs to be tackled head on.

Canadians Willing To Postpone Retirement To Help Their Kids: Report

CP | Peter Henderson, The Canadian Press | Posted 12.16.2015 | Canada Business

Some said they would even take on debt to help their children.

Why Your Next Job Is Likely To Be An Unpaid Caregiver

Wynne Ma | Posted 12.03.2015 | Canada Living
Wynne Ma

As our aging population increases, and most care homes are privately owned and outside of the budget of the average hardworking Canadian, the only other rational option is to move your Mom or Dad into your family home.