Retirement

Canadian seniors have two national income support payments – Old Age Security (OAS) and the Guaranteed Income Supplement (GIS). These are not pension plans as such because they are non-contributory and financed out of general revenues. Employment history is not a factor in determining eligibility. You can receive OAS pension and benefits even if you…

This is a guest post from Paul Marshman, author of The Travelling Boomer, as part of our retirement series. I’m one of the baby boomers who saw their careers cut short by the recent recession. But luckily, I was one of the few who was prepared for that fateful day. And since then, I’ve been…

Imagine celebrating at your retirement party without a clue as to how much you can expect to receive in pension income. It sounds incredible, but many people who will end their career in a few years are in just that situation. When you work for an employer you receive your salary, but once retired your…

This is a guest post from reader Jamie, who shares his early retirement story as part of our retirement series. I lived and worked in Port Hardy, B.C. since 1984. On January 13th of this year I came to work on a midnight shift to find that it was my turn to pick holiday time. Vacations were…

I was visiting my parents at the retirement home and prominently displayed on the elevator was a sign warning the residents not to give out personal information on the phone to people claiming to be from the bank, credit card company, or the government. I find it bizarre that the same old scams keep cropping…

Earlier this year, the Financial Planning Standards Council (FPSC) updated the numbers it uses for projected investment returns and inflation. Financial planners use these numbers as guidelines when projecting retirement needs and income for their clients. The FPSC’s latest guidelines for 2015 peg annual inflation at 2 percent and make the following assumptions for investments…

College Athletics is a world of haves and have-nots. At the pinnacle of intercollegiate sport is the University of Texas, which boasts annual revenues in excess of $165 million and aims to have a $200 million operating budget by 2020. Texas is one of just a handful of self-funded athletics programs in the country. Money…

Investors who are in, or near, retirement are in a difficult position. They need their investments to provide them with steady cash flow to live on, but they also need their wealth to last for a potentially long life. Retirees who are caught in a bear market don’t have the time to wait out temporary…

When you are approaching retirement you have quite a few important decisions to make. One decision is where you want to spend your retirement years. According to a BMO survey, most Canadians prefer to stay close to home rather than uprooting their lives. Of those who plan to relocate, most move to another province. Only…

We all like to compare ourselves with our peers to see how we measure up to everyone else. Here are some retirement statistics from the most recent Canadian Census, Statistics Canada and various surveys. Age statistics In Canada in 2014 the average age was 58. The baby boom demographic, representing those born between 1946 and…