The pooled retirement pension plan (PRPP) scheme announced last year represents a positive first step toward ensuring all Canadians have sufficient opportunity to save for retirement, according to Christopher Brown, president of the Association of Canadian Pension Management. But, he says, this has to be just part of the solution. “Governments are clearly engaged in […]
As I was thinking about the economic outlook at the beginning of the year, I did a quick review of potential economic problems around the globe.
The popular notion that RRSPs are only tax-deferred while TFSAs are tax-free is rooted in misconception, says Jamie Golombek, managing director of tax and estate planning at CIBC.
Many Canadians wish they had started saving and investing earlier for retirement. After all, that’s one way to be a millionaire (read: Time is on the side of young investors). Yet again the looming RRSP deadline has triggered a bout of soul-searching as Canadians take stock of their financial footing. Going by the findings of […]
Becoming a millionaire might be more achievable than young Canadians realize, according to a TD Canada survey. Just a fist full of dollars a month, provided the saving starts early. The TD Canada Trust Millionaire’s survey, which polled 689 randomly selected Canadian adults aged 18-34, reveals young Canadians, despite having the power of compounding on […]
When it comes to planning retirement, it pays to go beyond covering all the usual bases. The optimal retirement planning process must adapt to individual goals, according to a report from Laurentian Bank.
When it comes to retirement planning, Canadians are suffering from the willing-but-not-able syndrome.
Young Canadians are shying away from RRSPs.
BMO has announced the launch of a new guaranteed income product aimed at clients aged 55 and up. The BMO Lifetime Cash Flow product bank deposit backed by BMO and is fully protected against market volatility. The initial deposit (minimum $5,000) provides exposure to a portfolio of BMO Mutual Funds which is rebalanced annually to […]
It’s the beginning of a new year, and a good time to look ahead at some of the developments we may see both in the economy and capital markets and some of the issues that will have an impact on Canadians’ plans for their retirement in the years ahead. Together, they add to an outlook for the economics of retirement in 2011.