My latest MoneySense Retired Money looks in more detail at the National Institute of Ageing’s recent series of papers on CPP (and OAS). As the Hub reported on April 11th, few Canadians are aware that delaying CPP benefits to age 70 can more than double (2.2 times actually) eventual monthly benefits compared to taking it early at age 60. That blog reproduced a chart from the NIA that showed just how much money Canadians are leaving on the table by NOT deferring benefits as long as possible. The other major chart from the NIA paper is reproduced above, showing just how important most retirees v ..read more

Photo by Kampus Production on Pexels Understanding the impact of financial education on wealth-building, we’ve gathered insights from Directors, Founders, and CEOs, among others, to share their experiences and lessons. From fostering open family financial talks to the importance of reinvesting profits for startup growth, explore the eleven valuable strategies these experts attribute to achieving financial independence. Foster Open Family Financial Talks Invest in Low-Cost Index Funds Leverage Compound Interest Early Learn from Real Estate Investment Implement Simple Numbers Cash Flow Manageme ..read more

  Boating is an adventure at any age, but it often becomes a lifestyle for retirees. If you’ve ever considered trying to save up for a boat one day this could be a good read. With a couple of these financial tips, you’ll be well on your way to living your boating dream!   Adobe Image courtesy Logical Position/Visionsi By Dan Coconate Special to Financial Independence Hub  Retirement is a time for relaxation, adventure, and a well-deserved break from the toils of work. For many, it’s the perfect time for ticking off items on the bucket list and enjoying activities they couldn’t ..read more

ADRs (American Depository Receipts) are a great way for investors to invest in foreign stocks Our view on foreign investing is that for most investors, U.S. stocks can provide all the foreign exposure they need. We also feel that virtually all Canadian investors should have 20% to 30% of their portfolios in the U.S. stocks that we recommend in our Wall Street Stock Forecaster newsletter. If you want to add more foreign content, you could buy individual stocks. But for most investors, directly investing in foreign stocks can add an extra layer of risk and expense. As well, timely ..read more

  Image courtesy Mercer/Getty Images By Jared Mickall, Mercer Canada Special to Financial Independence Hub Since the beginning of the year, Canadians saw the Bank of Canada maintain the overnight rate at 5.00% as inflation eased to be less than the upper end of the Bank of Canada’s inflation-control target of 3%. Amidst this economic backdrop, Canadians who participate in defined benefit (DB) pension plans may be interested in the financial health of their DB plans. The Mercer Pension Health Pulse (MPHP) is a measure that tracks the median solvency ratio of the defined benefit (DB) pensi ..read more

Prime Minister Justin Trudeau’s 8th federal budget features $52.9 billion in new spending over five years, according to the CBC. You can find the 430-page budget — titled Fairness for Every Generation — at the Department of Finance website here. Released at 4 pm Tuesday, the wealthiest 0.13% of Canadians will be hit with a higher capital gains inclusion rate: as of June 25, the inclusion rate will rise to 66% for capital gains  in excess of $250,000 a year, and this will also apply to corporations. You can find details at the Globe & Mail’s coverage here. (may only be viewable by sub ..read more

Image by Shutterstock, courtesy Outcome By Noah Solomon Special to Financial Independence Hub Time is on my side, yes it is Time is on my side, yes it is Now you always say That you want to be free But you’ll come running back (said you would baby) You’ll come running back (I said so many times before) You’ll come running back to me — The Rolling Stones The Rolling Stones’ iconic hit, “Time Is On My Side,” is a testament to the power of patience. Its lyrics remind listeners that even though things can seem challenging, eventually everything will fall into place. Although this message may be co ..read more

Image by Harvest ETFs By Ambrose O’Callaghan (Sponsor Blog) Canadians in or nearing retirement may be seeking out an investment that provides stability in the face of broader market and economic challenges. Balanced mutual fund portfolios have remained the most popular form of investment fund among Canadians. However, most current balanced mutual funds and ETFs in the Canadian market provide income at levels below inflation rates. Moreover, these balanced funds/ETFs often pay quarterly, semi-annual, and annual distributions as opposed to monthly. Today, we zero in on a balanced ETF designed to ..read more

Image via Pexels: T. Leish Paying down Debt versus Saving for Retirement has always been one of those conundrums facing every generation. As a semi-retired baby boomer myself, I was a bit late to both the housing party and Retirement savings exercise. Once I got married in my mid 30s, buying a house and paying down a mortgage was our priority, although two reasonable incomes made it possible to do both: pay off mortgage debt while also saving for retirement and enjoying some tax savings through the RRSP. Certainly, I’ve always believed paying down debt on high credit-card interest is a priorit ..read more

By Michael J. Wiener Special to Financial Independence Hub On episode 289 of the Rational Reminder podcast, the guests were retirement spending researchers, David Blanchett, Michael Finke, and Wade Pfau. The spark for this discussion was Dave Ramsey’s silly assertion that an 8% withdrawal rate is safe.  From there the podcast became a wide-ranging discussion of important retirement spending topics.  I highly recommend having a listen.   Here I collect some questions I would have liked to have asked these experts. 1. How should stock and bond valuations affect withdrawal rat ..read more