Here’s a great resource for 2023 retirement planning financial facts. The downloadable PDF was produced by Empire Life and is updated yearly. So what am I often asked about that is on this two page pdf? What is the annual TFSA limit both cumulative lifetime and for 2023? If you withdraw a lump sum from […]
Open a high-interest Advantage Account for your everyday banking and savings needs. You’ll enjoy great features, plenty of flexibility — and an exceptional rate on all your money! Applying for an account should take about five minutes. Please have the following items ready: ● Your contact information ● Your Social Insurance Number (SIN) You must […]
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 […]