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Your Finances

Shift towards paperless billing and direct deposit will continue to alienate some low-income persons and seniors – can Canada’s new financial literacy leader be of help?

cane and hands

“Financial Literacy leader focuses on seniors”, published July 6th, 2014 by The Toronto Star and written by Ellen Roseman addresses the many mounting challenges low-income seniors can look forward to in the next two years. As a snowballing  number of large companies move towards paperless billing and Revenue Canada moves to eliminate paper filing – an increasing number of seniors … Read more

Posted in Your Finances, Your Rights

FINANCIAL FACELIFT: No company pension, a tight budget (and a willingness to keep working)

FACELIFT

The Globe and Mail is doing a series called “financial facelift” that profiles the living, working and financial situation of several Canadians that are semi-retired or heading into retirement.  We’ve found the series quite informative.  It contains some helpful tips and is a useful yardstick by which would-be retirees can compare their own financial situation.  It features real advice given … Read more

Posted in Your Finances

RRIFs – Tips and Tricks, Separating Fact from Fiction

Separating-Facts-from-Fiction4.2

The Globe and Mail recently published a very helpful guide to mandatory RRIF withdrawals that separates fact from fiction.  It contains some very useful tips and a helpful breakdown of exactly how the mandatory withdrawals work with regards to taxation, you’ll also find that it contains information that will help you use the rules to full advantage.  Did you know … Read more

Posted in Your Finances, Your Rights

Low Interest Rates, High RRIF Withdrawals: A Perfect Storm for Retirees

PERFECT STORM

In the name of getting tax money out of us sooner, the Government of Canada continues to force retirees to outlive their savings – pushing the elderly, despite their savings and frugality, onto provincial welfare rolls and out of their homes if savings dry up completely.  A quick look at the the decline in fund balance and the increase in … Read more

Posted in Your Finances, Your Rights

Canadian seniors better off but still want to work

Diverse Boomers 1

July 14th, 2014: CARP was interviewed for the July 14th, 2014 edition of the Globe and Mail.  The article says that even though the wealth of seniors has increased, many still need and want to work well into what would traditionally have been considered their retirement years.  Citing a Bank of Montreal study, senior economist Sal Guatieri said that today’s … Read more

Posted in CARP in the News, Your Finances, Your Rights

Customer Comments: CARP Member Writes MP to Call for Elimination of Mandatory RRIF Withdrawals

open letter

Editor’s Note: Recently, a CARP member wrote to his MP describing the difficulties and financial inflexibility posed by forcing retirees to withdraw from savings regardless of need.   The letter echoes the concerns raised by CARP and many CARP members. Mandated withdrawals from Registered Retirement Income Funds (RRIFs) limit retirees’ ability to plan and manage savings for retirement. Many Canadians … Read more

Posted in Your Finances, Your Rights

CARP LGBT/RRIF Poll Report

GAY PRIDE FLAG

Key Findings – LGBT Seniors July 14, 2014: CARP members identify as LGBT at the same rate as the general populace 65 years and older, and are just as likely to know someone who is gay, but they are about half as likely to have a gay family member. On the other hand, they are more likely than the general … Read more

Posted in 2013 CARP Poll Reports, Your Finances, Your Health, Your Rights

The Middle-Aged Guide to Growing Up: Plain Folk

The Middle-Aged Guide to Growing Up: Plain Folk

Editor’s Note: “A. Boomer” is the alias of a CARP member who shares his experiences about growing up and growing old every two weeks in the CARP ActionOnline newsletter.  He is back by popular demand from our readers after publishing his first series, the “The Caregiver’s Diary”.  For newer readers who might be unfamiliar to the Caregiver’s Diary columns, they … Read more

Posted in Your Finances

Canadians are missing billions, and no one seems to care

Metal Piggy Bank

You may be rich—if only you could find those long-lost investments According to the Canadian Press, there could be anywhere from $4 billion to $7 billion in unclaimed assets sitting in accounts right now. The Bank of Canada alone is holding nearly $1 billion from bank accounts and Canada Savings Bonds, but experts estimate unclaimed assets across the country could top … Read more

Posted in Advocacy, CARP in the News, News, Your Finances

Retirement or free degrees for the kids: Which comes first?: Mayers

Piggy Bank with retirement savings message

One of the great worries for parents is how to balance their needs for retirement with a desire to take care of their kids and give them a financial helping hand One of the great worries for parents is how to balance their needs for security in retirement with a desire to take care of their kids now and give … Read more

Posted in Advocacy, Campaigns, CARP in the News, CPP: Time to Act, News, Your Finances
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