Saving for 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.

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...

Save Early, Save Often

Posted 01.25.2016 | Canada Living

The world is less linear than ever before. Whether you're collecting your first paycheque or gearing up for the golden years of retirement, a solid financial plan can help guide you towards a brighter life, regardless of what path you choose to take. Here are a few handy hints to help plan for some of life's big moments.

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.

Saving For Retirement? Do This First

CBC | Posted 01.15.2016 | Canada Business

It seems obvious: save as much money as early as you can. You'll benefit from compound interest and you'll build a savings habit that will serve you ...

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.

Are Canadians Getting the Most From Their Retirement System?

Bob Stammers | Posted 09.17.2015 | Canada Business
Bob Stammers

As provincial and federal governments attempt to improve our retirement system, one has to ask whether Canada currently has an ideal system and what can be done to strengthen it. Determining the best way forward can be challenging, since retirement security spans government politics, employer practices, individual investor education and cultural differences.

The Two Sides of the Retirement Equation

Cindy Crean | Posted 08.12.2015 | Canada Business
Cindy Crean

Retirement planning is multi-dimensional. Consideration has to be given to both the quantitative and qualitative factors. Framed another way, it's almost like a tale of mathematics and emotions. Both are equally important as they guide you through the next phase of your life.

It's Time to Cash in on Canada's New Financial Literacy Strategy

Cairine Wilson, CPA Canada | Posted 12.26.2015 | Canada Business
Cairine Wilson, CPA Canada

The National Strategy for Financial Literacy - Count me in, Canada is an ambitious playbook for country that brings together a wide range of stakeholders, identifies priorities and targets deliverables. It's time to act. Canadians who acquire financial knowledge today will be positioned for a better future.

Why Investing is a lot Like Weight Loss

Nanci Murdock | Posted 06.17.2015 | Canada Business
Nanci Murdock

After losing 20 pounds, I can tell you that successful investing looks a lot like successful weight loss. Obvious likenesses between the two aside -- expensive products, conflicting "expert" advice, confusing strategies -- there are three similarities that will see you through to the investing finish line.

Canadian Millennials Are Taking a Cautious Approach to Investing

Cindy Crean | Posted 06.12.2015 | Canada Business
Cindy Crean

Millennials are a cautious bunch when it comes to their money. It's not surprising given the economic downturn of 2008 is still fresh. For many young Canadians, this market chaos was their first experience with investing. But it's important to let cooler minds prevail: avoiding the markets altogether is not wise, especially with so much time on your side.

Canadians Prepared For Retirement, C.D. Howe Institute Says

CP | The Canadian Press | Posted 06.04.2015 | Canada Business

OTTAWA - Canadians are saving enough and are reasonably well-prepared for life after work, said a report Thursday by the C.D. Howe Institute, which ch...

Millennials: Stop What You're Doing and Start Saving for Retirement

The Reply | Posted 05.22.2016 | Canada Living
The Reply

When it comes to planning for retirement, you should be focusing on one crucial piece of advice: the earlier you start saving, the better. "The longer you save for retirement, the more money you build," says financial security advisor Kirk Bowden in an interview. "Even if it's something small."

Will the Government Eliminate Capital Gains Tax?

Michel Kelly-Gagnon | Posted 06.17.2015 | Canada Business
Michel Kelly-Gagnon

By doubling the maximum contribution for a Tax-Free Savings Account (TFSA), which would therefore jump to $11,000 a year according to rumours surrounding next Tuesday's budget, the federal government is doing more than just encourage saving; it's taking a step toward the de facto elimination of the capital gains tax on financial investments for the great majority of Canadians.

Preparing Ourselves for the Economic Challenges of an Aging Population

Bob Stammers | Posted 04.04.2015 | Canada Politics
Bob Stammers

The second-most underestimated risk around the world is as plain as day: the aging population. While the challenges of an aging population are complex, they are also very common sense.

Do You Know Where Your Money Really Goes?

Anita Saulite | Posted 03.24.2015 | Canada Business
Anita Saulite

The reality is most of us have no idea where our money goes, and because of this it feels like there is never enough. But the irony is taking control of our personal finances and allocating only one hour a week to it, has the power to make us feel more in control and confident about our personal financial situation and future.

My Mother's Own "Cheap Week"

Caitlin McKay | Posted 03.01.2015 | Canada Living
Caitlin McKay

When I read my daughter's article about her "Cheap Week" it warmed my heart that she is as cheap as I was. It brought back memories of my own youthful financial desperation. It's good to know that she's inherited the family cheap streak. I, too, had to be cheap, so why did I get concerned when I realized my daughter was tippy toeing around the poverty line?

How to Find the Perfect Financial Advisor for You

Bob Stammers | Posted 12.23.2014 | Canada Business
Bob Stammers

Finding "the right one" these days can be very complicated, and by the one I mean the right financial advisor! Searching for an advisor that is the perfect match takes time, effort and plenty of research. Finding the right financial advisor is not necessarily a simple task but it can be straightforward if you follow some basic guidelines.

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

Anita Saulite | Posted 10.12.2014 | 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.

'Sandwich Generation' Struggling To Pay For Kids, Parents: BMO

CP | The Canadian Press | Posted 10.12.2014 | Canada Business

TORONTO - A new poll suggests more than half of Canadians aged between 45 to 64 belong to a "sandwich generation" that's feeling financially squeezed ...

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...

How To Get the Most Out of Your RRSP Contribution

Leanne Kotchonoski | Posted 04.30.2014 | Canada
Leanne Kotchonoski

With only about one third of Canadians making an RRSP contribution according to the Sun Life Annual Check-up Survey, make this year the year that you start to reap the benefits of your RRSP. Top up your RRSP before March 3 and make an appointment with your advisor to plan how best to invest your tax refund (or tax savings). Your tan may suffer but your net worth will thank you.