Provincial regulations vary across Canada When you leave an employer, any pension money in a registered plan will be transferred to a Locked-In Retirement Account (LIRA), or Locked-In Retirement Savings Plan (LRSP). Those funds are “locked in” and not available for...
Should you switch to ETFs for their lower MERs? The lower management costs of exchange-traded funds compared with mutual funds seem almost too good to be true. Many do-it-yourself investors are wondering whether they should switch completely to a portfolio of ETFs....
“Pensionize” your retirement income Will you outlive your money? That’s the big question a lot of pre-retirees are asking. I am a firm believer in “pensioning your retirement income,” which means creating a secure stream of income from a variety of sources that will...
How to keep your head when stock markets start gyrating If you got a bad case of market jitters over the latest stock market scare headlines, then the business media will have done their job – which is to get you to look at their websites, Twitter and other feeds,...
Individual pension plans ideal for professionals, executives, business owners If you’re a high-bracket professional, executive, or businessperson, and you’ve maxed out your RRSP, you may be surprised to learn that there are other tax-efficient retirement plans...
How to withdraw funds for post-secondary expenses If you have kids going off to college or university this fall, and you’ve accumulated substantial savings in a Registered Education Savings Plan, now’s the time to tap into those funds. But you won’t be able to use the...
Regaining financial independence is as easy as 1-2-3 Although it may not feel like it while it’s happening, you can achieve financial empowerment after a divorce. But you will need to take charge of your personal finances, even if you haven’t been accustomed to doing...
Critical illness and disability insurance essential for businesspeople After you’ve worked so hard to build a successful business, the thought of losing it to disability or illness is something every entrepreneur needs to think about long and hard. There are two types...
But remember: higher yield means more risk If you’ve been looking at conventional interest-bearing investments, you’re bound to be disappointed. Savings accounts are money-losing black holes. Guaranteed investment certificates and money market funds yield next to...
Paying a premium for market-linked GICs and segregated funds Q: With stock markets showing more volatility this summer, I’m a little concerned that there may be a correction ahead. But I’m reluctant to get out of stocks completely, because the return on conventional...
First-time home buyers can use RRSP funds to top up their down payment Now that the Bank of Canada has cut its benchmark interest rate to 0.5%, it looks like mortgage rates will also fall. But the government may try to head off a real estate market bubble by raising...
How to choose the right portfolio benchmark Does your portfolio consistently underperform the S&P/TSX Composite? If so, it might not be a reflection of your investment skills. You might just be using the wrong benchmark. A benchmark is an independent standard...