Financial News

Showing Tag: "retirement" (Show all posts)

How to participate in the Home Buyers' Plan

Posted by Jackelyn Ford on Friday, January 14, 2022,
https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/what-home-buyers-plan/participate-home-buyers-plan.html#first-timehomebuyer

The Home Buyers' Plan (HBP) is a program that allows you to withdraw funds from your Registered Retirement Savings Plans (RRSPs) to buy or build a qualifying home for yourself or for a related person with a disability. The HBP allows you to pay back the withdrawn funds within a 15-year period.

You can withdraw funds from more tha...


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Advisor value is nearly triple the typical advisory fee: study

Posted by Jackelyn Ford on Friday, January 14, 2022,
https://www.investmentexecutive.com/news/research-and-markets/advisor-value-is-triple-the-typical-advisory-fee-study/

A study from Toronto-based Russell Investments Canada Ltd. has found that financial
advisors deliver value at a level almost triple the typical advisory fee of 1%.

The firm’s fifth-annual Value of an Advisor study pegged the value of an advisor who performs
comprehensive wealth management at 2.88% in 2020. This is up from 2.79% in 2019.

“We believe adv...


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BNN: What you should know before making a TFSA contribution

Posted by Jackelyn Ford on Monday, November 14, 2016,
http://www.bnn.ca/personal-investor-what-you-should-know-before-making-a-tfsa-contribution-1.607444

Dale Jackson | November 14, 2016

Canadians love their tax free savings accounts. And why not? The TFSA allows you to hold just about any kind of investment and you are never taxed on the gains.

Since the TFSA was first introduced in 2008, more than 12 million accounts have been opened totaling more than $120 billion in assets. Some people contribute what they can, some contribute the maximum and s...


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Globe & Mail: I want to retire in 10 years

Posted by Jackelyn Ford on Tuesday, March 22, 2016,
http://www.theglobeandmail.com/partners/advretirementplanning/i-want-to-retire-in-10-years-how-do-i-get-there/
Mary Gooderham | June 30, 2015

Many investors find it hard to think ahead to the day when they will leave work and their steady paycheque. In the final decade before retirement, however, reality often sets in, focusing their attention and often bringing them to financial professionals.

For an advisor facing a client who expresses a desire to retire in 10 years, it’s time to help peopl...


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Globeadvisor: Longer lives, new investing approaches

Posted by Jackelyn Ford on Tuesday, August 18, 2015,
http://www.globeadvisor.com/servlet/ArticleNews/story/gam/20131005/GICARRICKPORTSTRAT1004ATL
Rob Carrick | October 5, 2013

Longer lifespans require sharper thinking about how you divide your money between stocks and bonds.

That means no more using the rule of 100 minus your age as the percentage you put into stocks, with the rest going into bonds. The results you get from this type of mix are too conservative for a world where people are living longer and thus putting greater demands on their re...


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Morningstar: Concerned about longevity? Four mistakes to avoid

Posted by Jackelyn Ford on Monday, July 13, 2015,
http://cawidgets.morningstar.ca/ArticleTemplate/ArticleGL.aspx?id=666245&culture=en-CA
Christine Benz | October 3, 2014

A few years ago I attended the 100th birthday party for a family friend. Following a round of toasts and tributes, this never-married, lap-swimming centenarian treated her admirers to a rousing song-and-dance rendition of "Yankee Doodle Dandy." And she wasn't alone on the dais: Her older sister, a former member of the Women's Army Corps, joined her.

These two are the only 100-y...


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Globe & Mail: RRSP bashers - Here’s how the math really works

Posted by Jackelyn Ford on Wednesday, June 24, 2015,
http://www.theglobeandmail.com/globe-investor/personal-finance/retirement-rrsps/rrsp-bashers-heres-how-the-math-really-works/article17034733/

John Heinzl |February 21, 2014


After the weather, the thing Canadians love to complain about the most is the tax they pay on RRSP withdrawals.

Well, time to stop grumbling. It may seem like you’re getting hosed on your registered retirement savings plan withdrawals, but you’re just paying the government the tax you initially deferred, plus the growth o...


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Morningstar: Zen & the art of portfolio management

Posted by Jackelyn Ford on Tuesday, February 3, 2015,
http://cawidgets.morningstar.ca/ArticleTemplate/ArticleGL.aspx?culture=en-CA&id=661815
Christine Benz | August 23, 2014

Pssst. I've got an investment secret for you. In fact, I can say with some certainty that it is the best tip you'll ever encounter. It's so powerful that it will enable you to sleep easily at night and serenely go about your business even while everyone else is freaking out.

I can sum up this strategy in just three words. TUNE IT OUT.

Tune out the talking heads on TV who purport...


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NY Times: The Best Investment Strategy

Posted by Jackelyn Ford on Wednesday, December 3, 2014,
http://www.nytimes.com/2014/03/03/your-money/stocks-and-bonds/the-best-investment-strategy-getting-out-of-our-own-way.html?_r=1
Carl Richards | March 3, 2014

We’re still making the same old mistake of buying investments when prices are high and selling them once their prices have fallen.

I had hoped things had changed, I really did. But Morningstar’s latest Investor Returns data says otherwise. More than 10 years after I first started thinking about this data, the behavior gap still exists. ...
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Moneysense: Catch up to unused RRSP contribution room

Posted by Jackelyn Ford on Monday, August 18, 2014,
http://www.moneysense.ca/columns/catch-up-to-unused-rrsp-contribution-room
Stefania Di Verdi | April 23, 2013

By now many Canadians have received their government issued tax refund cheques in the mail, the eager beavers have anyway. The rest have until April 30 to file their 2013 income tax return without fear of penalty.
The prospect of getting money back is just too good for this eager beaver so I file early every year. I case you’re wondering, I won’t be blowing my tax refund on a shoppin...


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GlobeAdvisor: We're not planning for our failing health

Posted by Jackelyn Ford on Tuesday, June 3, 2014,
http://www.globeadvisor.com/servlet/ArticleNews/story/gam/20120614/SRRETIREPROSPERATL
Noreen Rasbach | June 14, 2012 

Live long and prosper: For many, retirement planning means working with a financial adviser to figure out how much we need to save in order to live comfortably and provide some sort of legacy for our loved ones.

And Canadians are living longer - the average life expectancy at birth, according to Statistics Canada, was 81.4 years in 2011, almost two years higher than in 2001.

But ...


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BNN: Whatever happened to Freedom 55?

Posted by Jackelyn Ford on Monday, February 18, 2013,
http://www.bnn.ca/News/2013/2/1/Whatever-happened-to-Freedom-55.aspx
 Dale Jackson | February 1, 2013
 
 Freedom 55 was a marketing campaign from London Life Insurance in the mid 1980s that exemplified the optimism of a 25 year bull market in its early stages. The ads showed healthy middle-aged couples climbing mountains and sailing into the sunset.

Fast forward to the post 2007 financial meltdown and Freedom 55 has become a cruel joke. A recent survey by Sun Life Financial found the average Cana...


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CTV: One in three retirees still in debt: StatsCan report

Posted by Jackelyn Ford on Wednesday, March 7, 2012,
http://www.ctv.ca/CTVNews/Canada/20110427/retirees-debt-canada-110427/

CTV.ca news staff | April 27, 2011 

One-third of Canadian seniors still hold some amount of debt after they retire, new data from Statistics Canada reveal.

Some of those retirees are carrying large debts: 17 per cent of retired Canadians 55 years or older who have debt owe more than $100,000, the report found.

But on the other end of the scale, one in four of those with debt owe less than $5,000.

"Debt in this range may simply ...


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Globe & Mail: Why renting can be the right choice for aging boomers

Posted by Jackelyn Ford on Tuesday, March 6, 2012,
http://www.globeadvisor.com/servlet/ArticleNews/story/gam/20110628/GICARRICKCOLUMNCARRICKATL

 Rob Carrick, The Globe and Mail | June 28, 2011 

 Sell your house and rent: If you're a baby boomer entering retirement, that could be the financial move of a lifetime.

The case for selling the family home starts with the fact that years of strong price increases have hugely increased the value of homes across the country over the amount paid for them. What to do with the proceeds after you sell? Invest...
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CBC: Top court says divorce payment void after bankruptcy

Posted by Jackelyn Ford on Sunday, September 18, 2011,
http://www.cbc.ca/news/canada/story/2011/07/14/supreme-court-divorce-decision.html
The Canadian Press  Posted: Jul 14, 2011 6:36 AM ET

The Supreme Court of Canada has left open a legal loophole that could see spouses get out of paying divorce settlements with a strategic claim of bankruptcy. 

But the top court says Parliament needs to act to close the gap.

In a unanimous decision, the court upheld defining equalization payments as debts, meaning they are wiped off a person's slate on a d...


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BNN: Debt reduction versus RRSP contributions

Posted by Jackelyn Ford on Tuesday, March 1, 2011,
http://www.bnn.ca/News/2011/2/4/Debt-reduction-versus-RRSP-contributions.aspx
Dale Jackson, BNN.ca staff for The Globe and Mail | February 4, 2011

Canadians are another RRSP season older – and deeper in debt.

In 2010 we owed $1.48 for every dollar we earned, up from $1.45 the year before. According to the Ottawa-based Vanier Institute of the Family we’ve climbed high on the debt mountain: In 1990, the figure was 90 cents.

What’s worse, these figures tell only part of the deb...


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Canadians think a retirement of their dreams is out of reach

Posted by Jackelyn Ford on Friday, April 30, 2010,

https://secure.globeadvisor.com/servlet/ArticleNews/story/cnw/20100118/C9032

News from Canada NewsWire
TORONTO, Jan. 18 /CNW/ - Nearly all Canadians (90 per cent) feel they will have enough income to cover their necessities in retirement but only one-in-four Canadians (25 per cent) feel they will have enough money to fulfill their retirement dreams, according to the 20th Annual RBC RRSP Poll.

The poll found that most retired Canadians (75 per cent) didn't know how much they spent in their fir...


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Globe&Mail: Canadians need to save more

Posted by Jackelyn Ford on Thursday, March 18, 2010,

Janet McFarland, The Globe and Mail  - March 18, 2010
Canadians need to save between 10 percent and 21 percent of their pretax incomes each year - if they save consistently for 35 years - to have comfortable retirement incomes, according to a new report by former Bank of Canada governor David Dodge.

The report says many Canadians are unaware of the high savings levels they need for their retirement years, and may believe they are saving adequately when they are not.

The report, co-author...
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CTV News: Many Couples Don't Share Retirement Dreams

Posted by Jackelyn Ford on Thursday, March 4, 2010,
http://www.ctv.ca/generic/generated/static/business/article1446441.html

Many couples don’t share same retirement dreams

Chaya Cooperberg

My husband and I talked about a lot of things before we decided to marry, but not about our retirement plans. It just seemed too far off when we were graduating from university and had yet to make an RRSP contribution. Still, discussing your vision for retirement with your significant other is just as important as any other major life decision, such as ...


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About These Articles


Jackelyn Ford These articles have been chosen because they provide a macro view of the financial world. This wide scope of articles can then be applied to aid your own personal financial situation. E.O.E.