In September 2020, I began a quarterly report on “Annuities”. In a nutshell, I’ll show the change in annuity payments over time, when all other parameters are held constant except current interest rates. I now have sufficient data and will reduce these updates to twice annually. This is the second and final update for 2021. Methodology […]
The other day I came across an article from GM Canada. They recently transferred $1.8 billion of their pension assets to an annuity for their salaried pension plan members who retired prior to June 2020. This represents about $300,000 per employee on average. Why would GM Canada do this rather than manage a pension plan […]
In September 2020, I began a quarterly report on “Annuities”. In a nutshell, I’ll show the change in annuity payments over time, when all other parameters are held constant. Since I began reporting, interest rates have increased slightly, and so did annuity payouts. Methodology Every three months, I update the default annuity quote (using the Cannex […]
In a recent article, see reference below, the “report found that the average amount held in a TFSA climbed more than nine per cent to $30,921 from a year ago, December 2020. With a TFSA limit in 2020 of $69,500, this represents about 45% of the maximum limit (excluding any growth in the TFSA). What […]
Most people generally understand what a doctor, lawyer or engineer is and when they might likely need one. When a consumer needs financial advice, should they go to a “financial adviser” or “financial planner”? My industry is still working on that issue after 20 years. I started in financial services in the year 2000 with […]