Would Canadian retirement woes be corrected by reforms made to the CPP? As new survey numbers show the average Canadian can expect a 30 per cent drop in their income standards, new measures may be needed more than ever.
RRSP season is upon us – but are you making the best decisions for your retirement plan? Check out the top 9 RRSP mistakes made by investors, and how you can plan around them.
If you’re looking for quick and easy gift solutions, think outside the box. Gift cards are the quintessential go-to for convenient gift giving, and deal vouchers are gaining popularity as presents. But do you know where your money is really going? Read on for our guide to financially smart gift card giving!
Talks are underway regarding a proposed expansion to CPP. The outcome could affect your retirement reality, as the provinces push for an expansion of government-provided retirement coverage – but the feds have yet to be convinced.
When it comes to planning ahead financially, Canadian young adults are lagging behind. Only 51 per cent have emergency savings of any kind – and starting a retirement fund is often a far off thought. With the state of Canadian pension plans plummeting, it’s more crucial than ever to get on the savings fast track.
For many newcomers to Canada, the initial years are mostly spent trying to establish a new life – one that includes a new job, a new home and new friends. With the focus shifted to the challenges of getting settled, planning for retirement often takes the back burner. Not only that – the concept of retirement in Canada might differ than in their country of origin.
You probably heard the news that in the latest federal budget, the government has changed the age at which payouts from the Old Age Security (OAS) payment program begin from 65 to 67. If you didn’t, you’re probably too young to think it matters to you. Well guess what, it does! Here, we review what the change means – and review some retirement planning options – based on your current age bracket.
The average age people in Canada retire is 63. Some retire later because they can’t imagine life without work, while others continue working only because they have to. When do you want to retire? How are you going to make sure you stop working when you want to? If you want to start a retirement plan or revamp your current plan, here’s a few options that will help you get the best bang for your buck in the years to come.