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Pension Planning Centre Blog / Familytitle_li=Financial Planningtitle_li=Investmentstitle_li=Retirement

Retire Your Worries

Interesting article on how the economy is changing and how your retirement is affected by it!
Please leave us your comments or questions on this topic.

Disturbing Economic Trends in Canada

Cancer treatment costs can be painful, Most would have hard time paying, poll finds

Most Canadians say that if they were diagnosed with cancer, the out-of-pocket cost of treating the disease would be a drain on their personal finances, with more than half calling it a “major” impact once the prices of newer drugs are factored in.

Rising debts cancel low-rate savings

National Post: September 8 2010 Paul Vieira, Financial Post · Wednesday, Sept. 8, 2010 OTTAWA – Any savings Canadians have realized through this period of near-zero interest rates have been all but wiped out by the large amount of debt households have taken on, new research shows. As a result of the rush into home ownership over the past decade that saw housing prices soar, mortgage principal payments as a share of income are now double what they were in the early 1990s, when interest rates were in double-digit territory. But starting in the early 1990s, rates began a downward trend Read more…

The Flight to Safety

National Post: September 4 2010 Japan’s Lost Decade, brought on by the bust in the country’s housing and banking boom of the late 1980s, is supposed to be a cautionary tale. Having happened once, economic policymakers have vowed the period of stagnant growth and depressed asset prices that defined the Japanese economy in the ’90s is a phenomenon not to be repeated. But two years removed from the recent financial crisis that spawned the Great Recession, the threat of Japanese-style deflation remains pervasive almost everywhere in the developed world. Nowhere is that more evident than in the United States, where, Read more…

Not Too Late to Block Tax Hike

National Post: September 7 2010 Like millions of school-aged children across Canada, Members of Parliament are returning from vacation to find a stack of information waiting for them. With any luck, it won’t be about running in the halls of Parliament and the dress code for Question Period, but instead will contain an earful from entrepreneurs and working people worried about the Harper government’s first major tax increase. That’s right — a tax increase introduced by the federal Conservations. After several courageous decisions on employment insurance — including the long-overdue separation of the EI fund from general government revenue and Read more…

Response to: “Single mom worries she won’t save enough to retire” Article

1. The solution they provide does not take into considerations the real dangers she will be facing.

They recommend that she waits till she pays off her mortgage and car loans before she starts saving! Only then will she have extra cash flow to start putting away.
She NEEDS to start building Capital today for her future NOT when she turns 50 years old!!!

Single mom worries she won’t save enough to retire

In Toronto, a single mother we’ll call Carol, 42, is raising her two children, ages 10 and 13. She nets $3,500 per month after tax from her home-based business and $1,300 in child support for total monthly after-tax income of $4,800.

How to Take Advantage of Income Splitting Using Intra-Family Loans

People often consider tax-saving strategies on an individual basis, but overlook family strategies that can save significant tax dollars. One good example is the income splitting you can achieve by lending money within a family.

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