This is meant to provide a quick overview of how the Canada Pension Plan (CPP) works for most Canadians. For retirement planning purposes, please refer to the official government documentation. I’m going to focus on the CPP as it exists today. The CPP is being enhanced, but with contributions being phased in between 2019 and … Continue reading The Canada Pension Plan (CPP)
I want to start by making it clear that this post is not meant to bash robo-advisors. They are not dangerous, and moving from high-fee mutual funds to a robo-advisor would likely be a big improvement in your personal finances. Their relatively low fees, ease of use and focus on index investing have been a … Continue reading Robo-Advisors – Are You Getting Value for Your Money?
Guaranteed Investment Certificates (GICs) are not the most exciting product. They work sort of like savings accounts in that you deposit money and earn interest, except that the funds are generally locked in for between 1 and 5 years. On their own, they will likely generate much lower long-term returns than a diversified portfolio that … Continue reading Ladder your GICs
When people talk about car expenses, they focus on gas. But there's another consumable item that is just as important to your car purchasing decision: tires. Note: This is the first of a three part series on the insidious car expenses and how to reduce them. It was written by esteemed guest blogger The Prodigal … Continue reading Guest Post: Big Wheels Make You Cool but Poor
This is meant to provide you with a quick simplified overview of how the program works for most Canadians. For retirement planning purposes, please refer to the official government documentation. In addition to workplace pensions and personal retirement savings, most Canadians will receive income from two public programs in retirement: the Canada Pension Plan (CPP) … Continue reading Canada’s Old Age Security (OAS) Pension