Retirement

The Legend of Jack Bogle?

Art Carey and Erin Arvedlund of the Philadelphia Inquirer report, John Bogle, who founded Vanguard and revolutionized retirement savings, dies at 89:John C. Bogle, 89, who revolutionized the way Americans save for the future, championed the interests of the small investor, and railed against ...

Are annuities, bonds or GICs best for an 80-year-old’s money?

Q: My wife and I receive about $2,500 a month each in pensions. Plus, we each have about $75,000 in our TFSA accounts and about $180,000 in our RIF accounts. I have never been a fan of bonds, so for the last few years, I have invested in higher yield shares and ETFs. This has proved very successf ...

John Bogle, founder of Vanguard and champion of index investing, has died at 89

John Bogle, who simplified investing for the masses by launching the first index mutual fund and founded Vanguard Group, died Wednesday, the company said. He was 89. Bogle did not invent the index fund, but he expanded access to no-frills, low-cost investing in 1976 when Vanguard introduced the fir ...

Disability, income splitting and tax reduction

Q: My wife has been diagnosed with a chronic condition known as Fibromyalgia, so she can’t work anymore (she’s 49). My plan is to retire at 65 (I’m 57) and we plan to have about $1 million saved in registered accounts (about 85% in my name).  Can you recommend a tax efficient approach to d ...

The magic numbers for your findependence nest egg revealed

The latest RBC retirement poll came out today and the one thing I like about it is that they put the emphasis on my preferred term of Financial Independence, as opposed to plain old full-stop Retirement. After all, just because you’ve accumulated enough wealth to stop working full-time for an emp ...

6 Canadian Dividend Growth Stocks Increasing Dividends

Disclosure: Some of the links below are affiliate links (AL), meaning, at no additional cost to you, I will earn a commission if you click through and make a purchase. See disclaimer. Each month I update readers of all the dividend increases in the Canadian Dividend All-Star List (Canadian comp ...

Meet Canada Pension’s Green Team?

Vandana Gombar of BloombergNEF reports, Canada Pension’s Green Team Aims for $2.6Bn a Year:Canada Pension Plan Investment Board, or CPPIB, has exceeded expectations for its new power and renewables group by investing more than C$3.5 billion ($2.6 billion) in its first year, and is now eyeing annu ...

Is cashing in RRSPs now to maximize OAS and GIS a good idea?

Q. Does it make sense to cash in RRSPs to maximize Old Age Security (OAS) and Guaranteed Income Supplement (GIS)? A serious cancer illness in 2008 took our finances “off the rails.” We had to start over. I’m 63 (Bob) and my wife Laura is 61 and we’re from New Brunswick. I have $135,000 in ...

Why it’s still worth it for high-income seniors to apply for OAS

Q: I am 70 years old and did not apply for OAS at age 65 because of my annual income from pensions and investments. It would be completely clawed back. It’s my understanding that I would still have to declare it as income . . . phantom income . . . which may impact federal taxes owed. Is this cor ...

On the Road to Pension Poverty?

Russell Wangersky of The Chronicle Herald reports, On the road to pension poverty:So the New Year ticked in and, in the process, your paycheque changed. OK, it probably changed in a couple of ways, but I’m most interested in one change: a small increase in premiums for the Canada Pension Plan (CP ...