The Canada Pension Plan (CPP) is often debated, with some Canadians feeling that it unfairly penalizes those who die before they can fully collect its benefits. Critics of CPP argue that mandatory contributions, when considering the possibility of early death, result in a system where...
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Meet Ashley and Ryan There are many high-income earning households across Canada. Some of them may have stepped into high-paying roles early on, while others have had careers that had the potential for high incomes that were not realized until 15 or 20 years or more...
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Saving for Retirement is Easy; Spending in Retirement – Not So Much You have been saving for retirement all your life. If you are a resident of Canada, you have been building up credits toward receiving Old Age Security (OAS). If you have been employed, you...
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“Would it surprise you to know the number is $1.7 million?” You may be familiar with the commercial from Qtrade, the Vancouver-based online investment platform that partners with most of the credit unions in Canada. An interviewer asks a series of people on the streets what...
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Retire Now? I am fascinated by the number of videos that show up on YouTube extolling the virtues of early retirement. Often, they will have a catchy title like, “Why Wait? Retire Now!” or something similar. Oddly enough, despite the increasing interest in retiring early, trends...
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Meet John and Jane Jane and John are a couple in their early thirties. They own a townhouse in a suburb outside of Toronto. Although the commute is a bit of a burden, their jobs as an architect and software developer, respectively, allow them to work...
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The Canadian Retirement Dilemma As a matter of public policy, Canada has built several safety nets to help mitigate poverty for retirees. Among the most well-known are the Canada Pension Plan (CPP) and Old Age Security (OAS). Lesser known, but available to lower-income Canadians is the...
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“Decumulation” (I don’t really like this word, but I suspect I lack sufficient influence to change things) is the spending down of assets that have been accumulated in preparation for retirement. It is the conversion of pension plans, RRSPs, TFSAs, and other financial assets into...
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Introducing Ruth and James Ruth and James, born and raised in a smaller community in southwestern Ontario, went to work directly out of high school. They plan to make 2024 their last full year of work as they will turn 65 in 2025. Married at age...
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Retirement typically marks a major life transition, but the path to retirement isn't always smooth. The challenges of downsizing, both financially and emotionally, can be overwhelming. For example, after decades of relatively stable prices, inflation has returned with a vengeance. While retirees benefit from the...
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