a senior person on a bike enjoying retirement in Canada

Can I Retire At 60 Years Old With $500k In Canada?

As Canadians, we all dream of the day we can finally kick back and enjoy the fruits of our labor. For many of us, that dream involves retiring at 60 with a comfortable nest egg to help us through our golden years. But is it possible to retire at 60 with just $500,000 in Canada?…

ByJohn WilsonJanuary 7, 2023

Personal Finance

5 Common Mistakes When Taking RRIF Distributions

There are several mistakes that people make when taking distributions from their RRIF retirement accounts in Canada. The most common ones are as follows. Taking Distributions Too Early In Canada, you are generally required to start taking minimum annual withdrawals from your registered retirement income fund (RRIF) at age 71. However, if you are still…

ByJohn WilsonDecember 25, 2022

millennial sitting on bench at a restaurant

Personal Finance Saving

Why Millennials Should Be Saving for Retirement Now

Millennials – those born between the early 1980s and mid-1990s – are often thought of as the generation that has it the hardest. Many are struggling with high levels of student debt, skyrocketing housing costs, and precarious employment, all of which can make it hard to think about saving for retirement. But as a Canadian…

ByJohn WilsonDecember 24, 2022

Investing

What is a target-date retirement fund?

Target-date retirement funds are a type of fund of fund designed to provide investors with a diversified portfolio that becomes more conservative as the target date approaches. Target-date retirement funds were first introduced in the 1990s. Fidelity Investments and BlackRock were among the first financial institution to offer target-date retirement funds. Whether you should invest…

ByJohn WilsonNovember 25, 2022