Personal Wealth

Canada Pension Plan Explained

The foundation of many Canadians’ retirement is the Canada Pension Plan (CPP). The CPP is designed to replace a certain amount of your average work earnings, up to maximum limits each year. I outline what CPP is, how it works, and how much it might pay out.

Personal Wealth

How Much will you spend in retirement? Determining Your Replacement Ratio

How much of your current income will you need in retirement? The answer to this question is called the replacement ratio and is a major driver of the retirement planning piece. It will be different for everyone, so I outline how you can figure out your own replacement ratio that will ultimately determine how much you need to save for retirement.

Personal Wealth

Is saving 10% of your income enough for retirement?

When talking about saving for retirement, most people default to the common 10 or 15 percent of income towards retirement. But are those numbers accurate and is this a reasonable approach? I outline this traditional approach, and compare it to another approach that takes into consideration a typical Canadian’s financial scenario.

Starting Out

Intro to Retirement Planning for Millennials

For most millennials, retirement seems like it’s ages away; a future you problem. The cards might seem to be stacked against us: the number of Defined Benefit pension plans are falling, we’re living longer, student debt levels are rising, and house prices are massive compared to our incomes. I break down the basic concepts of retirement planning in this video to help you get started.

Personal Wealth

Should GICs Replace Bonds in a Portfolio?

Should GICs Replace Bonds in a Portfolio? To answer this question, we first need to understand the difference between a bond fund’s yield to maturity and the interest rate on a GIC. We then need to understand the relative tax efficiency of GICs compared to bond funds, and how it may impact after-tax returns.