Category: Retirement

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

Making your will: the keystone of estate planning

One of the most ignored elements of personal financial planning is also the most basic: a will. A remarkably high number of Canadians don’t have a will, and in many ways that’s not surprising. Wills are associated with the end of life, which is never a happy topic for any family. On top of that, … 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

Kevin on balancing his zest for life and fiscal responsibility

The FIRE (Financial Independence, Retire Early) movement seeks to redefine what it means to work and retire..

The expression carpe diem, loosely translated from the original Latin, means to “seize the day” or “live for the moment”. Today, this same sentiment is found in the expression “you only live once”, or, as you’ve probably seen online, “YOLO”! The idea of living for the moment is a wonderful sentiment and may make for … read more

A stay-at-home parent’s guide to retirement savings

Tips for retirement planning for stay-at-home parents.

We’re pleased to welcome Rubina Ahmed-Haq as a writing contributor to the Oaken Blog. Rubina is a highly regarded personal finance expert, and provides her thoughtful commentary for media outlets including the CBC and Global News. Rubina also writes for several magazines, and has her own website at alwayssavemoney.com. We’re especially excited to announce that … 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

Marc on staying true to his values

Socially responsible investing is a growing trend in Canada

By his own admission, Marc is a frugal individual. He also has a long history of trying to live in an environmentally responsible manner, and it is personally important for him that his investments align with his values and ethics. Marc may have been an early advocate for what we now refer to as Socially … read more

Is early retirement just a dream?

Is early retirement just a dream in today’s economy?

Back in the 1980s, one of Canada’s biggest insurance companies launched an advertising campaign to promote the idea of retiring at the age of 55. It was a very clever marketing strategy, and became hugely popular. As Canadians of a certain generation will readily attest, the magic number of 55 soon lodged in people’s minds … read more