8 money management tips for couples

8 money management tips for couples

Are couples and money incompatible? Is financial planning a relationship killer? Here’s some advice on managing money together without destroying your relationship. 1. Break the money taboo Did you know that money is one of the main sources of conflict in couples? For love and money to coexist, you cannot bury your head in the […]

RRSP contributions for working seniors

RRSP contributions for working seniors

Written by Peter Wouters Stan is turning 71 this year. He is enjoying a life filled with travel, relaxation and time with his family. Like more and more people, work is still very much a part of his life. Stan expects to work at least part-time for the foreseeable future. To Stan, this keeps his mind […]

Should you retire early or retire late?

Should you retire early or retire late?

By Dave Dineen – sunlife.ca There are some important issues to consider when deciding the right time to retire — and they’ll have an impact on more than your wallet. When I was 57, I’d been retired for 3 years. Most people I talk to assume that I’m lucky, lazy, rich or ill. (Disclosure: I’m […]

Staying invested in the market

Staying invested in the market

POSTED BY PETER WOUTERS of Empire Life A common piece of advice for investors is that long term success doesn’t hinge on timing the market. It’s time in the market that may make the bigger difference. Most investors aren’t professionals. Accredited investment specialists devote their education, training, time and resources to studying the markets and individual companies. […]

How to keep the fear of missing out from messing up your finances

How to keep the fear of missing out from messing up your finances

By Renée Sylvestre-Williams @ sunlife.ca   Giving in to FOMO can wreak havoc on your bank account. Here’s how to fight it with a genius budget trick – and a little help from your friends. From scrumptious brunches framed just right to party photos heavy on the merriment and glam, other people’s lives as shared […]

Diversification: risk and opportunity

Diversification: risk and opportunity

I’m sure many of you have heard the following statements. Perhaps you have made them yourselves. “I don’t like taking risks with my money.” “I can’t accumulate the amount of money I need by simply putting it all into a savings account or term deposits.” “What happens if I put all of my money into […]

Financial tips for your younger self

Financial tips for your younger self

Written by Peter Wouters Do you ever wish you could talk to your younger self about lessons you’ve learned, more than a few of them the hard way? There are the mishaps you could have avoided, the errors in judgement you could have missed and the regrets you wouldn’t hold. How much better would you feel […]

The hidden costs of early RRSP withdrawals

The hidden costs of early RRSP withdrawals

By Joy Blenman sunlife.ca RRSPs are excellent savings vehicles for retirement, but early withdrawals from these tax-sheltered accounts can affect your tax bill right now. Early withdrawals from registered retirement savings plans (RRSPs) are increasingly common, but are they smart? In most cases, the answer is no. Early withdrawals from RRSPs have hidden costs that can damage […]

How much can you contribute to an RRSP?

How much can you contribute to an RRSP?

By Brenda Spiering sunlife.ca RRSP contributions can lead to a nice surprise at tax time because they’re deductible. But everything has its limits, including your RRSP. It’s little wonder why we Canadians love our registered retirement savings plans (RRSPs). Not only do they let us set aside money for retirement and allow the money to grow […]

Financial planning or wealth management?

Financial planning or wealth management?

By Susan Yellin – sunlife.ca It takes financial planning to create wealth, but you needn’t be wealthy to plan. So what’s the difference between planning and wealth management? A financial plan is not a single-purpose, one-time task. In fact, when you embark on this crucial strategy, it’s important you think of it as a multi-step, […]

Don’t let the news affect your retirement planning

Don’t let the news affect your retirement planning

The alarming headlines of 2017 might be tempting investors to take drastic action. But it’s smarter to take a deep breath and a longer view. For Canadian investors, 2017 has provided plenty of potential worries, with an erratic U.S. president given to Twitter eruptions being arguably the largest. The real danger for investors is that […]

Looking for guaranteed retirement income? Think about an annuity

Looking for guaranteed retirement income? Think about an annuity

By Sheryl Smolkin – Sunlife.ca As retirement nears, the focus changes from building your nest egg to converting it into income. But how can you avoid outliving your money? This is a vital concern, particularly when you’re looking at 30 or more years of retired life. Drawing down the capital and investment return from a […]

Pay Yourself First

Pay Yourself First

The power of saving early and steadily for the long term can make a great impact on your retirement lifestyle. In this installment of Life & Money Matters Peter shares some thoughts on the benefits of paying yourself first. Transcript: Pay Yourself First Life & Money Matters

Do you understand your NEW investment statement?

Do you understand your NEW investment statement?

Client Relationship Model, Phase 2 (CRM2) is an industry-wide regulatory initiative mandated by the Canadian Securities Administrators (CSA). What is CRM2? CRM2 is an industry-wide regulatory initiative that the Canadian Securities Administrators (CSA) have mandated under National Instrument 31-103. Starting in July 2014 and over the next two years, a number of changes will be […]

How to save for tomorrow when you’re not sure about today

How to save for tomorrow when you’re not sure about today

By Kim Armstrong – sunlife.ca Job insecurity doesn’t have to mean financial insecurity. These 5 tips will help you improve your financial health and plan for a brighter future. Sophia Erikson is a 26-year-old who, for the past 2 years, has had to live away from her family and friends, moving from one contract job […]

Using Critical Illness Insurance to Protect your Retirement

Using Critical Illness Insurance to Protect your Retirement

You have a retirement plan set out and it includes your RRSP.  Could a health interruption get in the way of your plan? If you need to withdraw money from your RRSP, not only can it affect your RRSP’s growth, it’s considered taxable income. In fact for every $1.00 you need, you’ll have to withdraw $2.00, based […]

RRSPs turn 60: a birthday review

RRSPs turn 60: a birthday review

By Susan Yellin   In 2017, the venerable registered retirement savings plan (RRSP) turns 60. Like any 60-year-old, the RRSP has its strengths and weaknesses. Happy birthday, RRSPs. Introduced in 1957 (even before the Canada Pension Plan), registered retirement savings plans (RRSPs) were devised as and continue to be a way for Canadians who don’t […]

How Does an RRSP Contribution Reduce Your Income Tax?

How Does an RRSP Contribution Reduce Your Income Tax?

Here is a simple example to help explain. Joe: Annual Salary:  $50,000 Income Tax Paid:   – $11,036 After-Tax Income:    $38,964   An allowable RRSP contribution can be deducted From your income.  In other words your income will be lower when calculating how much income tax you owe for the year. If your income is […]

Money Facts 2017

Money Facts 2017

Manulife Solutions – Winter Edition 2016/2017

Manulife Solutions – Winter Edition 2016/2017

frameborder=”0″ allowfullscreen

%d bloggers like this: