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Tag: retirement

Age-proofing your portfolio

You should regularly review your portfolio’s asset weighting to ensure your risk level is appropriate for your age and life stage.

It’s only to be expected that our priorities change as we age. Whether just starting out in the workforce, raising a family or nearing retirement, the different stages we experience throughout our lifetime determine the decisions and actions we take. The same holds true when it comes to investing, and this is why it is … read more

Study shows majority of women leave long-term financial planning to spouse

Women risk their financial health when they leave long-term financial decisions to their spouse.

Most of the day-to-day financial decisions are generally made by women. This includes shopping for the family, paying household bills and saving for short-term goals. But when it comes to long-term financial planning, a new global study by the Swiss multinational bank, UBS, shows that women are still largely dependent on their spouses.   What … read more

Why women need to save more for retirement

Women need to save more than men to ensure a comfortable retirement.

Saving for retirement is something we start hearing about as soon as we get our first full-time job. If your employer offers a workplace pension, contributions may be taken from your pay automatically. If you’ve paid off any outstanding student loans, you may have the extra funds to start thinking about saving money for when … read more

What to consider when converting your RSP

You have three options when it comes time to convert your RSP to income for your retirement.

If you currently have an RSP, you probably already know that when you turn 71, you can no longer make contributions to your RSP. In fact, by December 31 of the year you turn 71, you must actually convert the money in your RSP into some form of income. Financial institutions are required to convert … read more

Are women better investors and savers?

Rubina Ahmed-Haq looks at the differences between men and women when it comes to saving.

We’ve all heard the phrase, “Men are from Mars, and women are from Venus”, essentially highlighting the difference in these two genders. But how does this thinking relate to money? Do female investors make different decisions then male investors? Are women better savers then men?   Women as Savers Dollar for dollar, women put away … read more

Downsizing for retirees

Here’s what you need to consider if you’re thinking of downsizing your home as part of your retirement planning.

There are many key milestones in life: that first job, marriage, the birth of a child – even retirement. These events all bring about changes, and can lead to lots of questions. For those actively saving and planning for retirement, these questions are typically along the lines of “how much money do I need to … read more

Volunteering vacations: how to give back by getting away

We’ve all heard the old expression that it’s better to give than to receive. So the chance to “receive” a rewarding vacation adventure, while at the same time giving much needed aid and assistance, is a rare opportunity. For a growing number of Canadians, a volunteering vacation is the perfect way to experience a unique … read more

The case for taking CPP before 65

Following our earlier examination of the Canada Pension Plan and the factors that affect how your benefits are calculated, you may be left wondering if there’s a good argument for starting your CPP benefits before you turn 65. To help explore this, we’ll look at a scenario involving two individuals, Bob and Sue. Both are turning … read more

Understanding your CPP benefits calculation

All Canadian workers pay into the Canada Pension Plan, or the Quebec Pension Plan if residents of the province of Quebec. However, few have a clear picture of how much they’ll receive in CPP benefits once they retire, and fewer still understand how the benefit amount is determined. Here we’ll provide details on how your … read more