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Insurance & Investments

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Peter Wouters

Directeur, Planification fiscale et successorale et planification de la retraite, Gestion de patrimoine
Placements Empire Vie

Recent Posts

Retirement Success Factors

Investments, Personal Finance

What defines a successful retirement? How do you measure it?

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Top Retirement Planning Concerns

Investments, Personal Finance

Investors are confused about what investments should be in their portfolios. In fact they are confused about what they have in their portfolios.

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Retire later: What a difference a year makes

Investments, Personal Finance

Going, going, gone are the days when we are forced into retirement because we hit a certain age. And boomers are redefining what that "R" word means to them. Retirement isn't about hitting a certain age or completely quitting what you have been doing. It may involve work, albeit perhaps on different terms or in a different field. It may mean adjusting that planned retirement date. There’s no shame in that. Late savers especially may need to consider what a difference an extra year of work can make in their lives.

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When do people retire and why?

Investments, Personal Finance

There is no normal retirement date anymore. There is no hard-fast retirement date everyone has to hit. The answer to the question; "when will you retire?" is becoming a very individual decision, and one you need to plan for and periodically stress test to make sure it's still going to work for you. Here's what we do know. The average age for retirement is increasing. More and more aging boomers are choosing to work longer; some because they need to; a growing number because they want to. And work is becoming one of a number of activities that is forming part of the evolving definition of that "R" word.

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Retirement Realities for Boomers

Investments, Personal Finance

Retired boomers age 50+ identified their top three retirement realities in an updated survey on Retirement Myths and Realities completed in 2015 by Royal Bank of Canada. The top three realities appear to fly in the face of commonly held perceptions and the feelings held by those younger than these boomers.

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Registered Retirement Plans with named beneficiaries: Lessons and Considerations

Investments, Personal Finance

In my last post, I shared the issue of naming an adult, independent child as a beneficiary of a registered retirement plan, (either a Registered Retirement Savings Plan or a Registered Retirement Income Fund (income version). (see Registered Retirement Plans with Named Beneficiaries: Unintended Consequences ) You may wish to avoid paying probate and estate costs on your plan. You may want to make the transfer as seamless and efficiently as possible. You may want to leave someone something extra. One issue is that the person receiving the money usually pays no tax. The estate usually pays the tax. The Canada Revenue Agency first looks to the estate to pay any income taxes owing. Only when there are insufficient monies in the estate, does the Canada Revenue Agency assess the beneficiary of the registered retirement plan for any balance owing. That means the beneficiaries in the will shoulder the tax bill. Is that the intention?

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Registered Retirement Plans with named beneficiaries: Unintended Consequences

Investments, Personal Finance

Let’s say you’re single, divorced or widowed. You have saved up some money for retirement. Perhaps you are already retired and are taking out an income from your registered plan. You may not get to spend all of your savings during your lifetime. Where does the balance go?

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Accumulating money - 3 things you need

Investments, Personal Finance

We hear so much from the media that we are not saving enough for retirement. This message is beaten into the minds of middle and upper middle income Canadians. Saving for retirement is tough, considering all the demands you have now. Investment choices are mind boggling. And rates of return rule the roost.

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Federal Budget 2016: What wasn't proposed?

Investments, Personal Finance

A number of measures or new rules have been the subject of speculation or were specifically mentioned in government documents over the last number of months. Federal budgets can be quite lengthy and confusing. It’s easy to miss items or misunderstand what they propose. Let’s spend a little time listing some of the measures that were not introduced in Federal Budget 2016 by the Liberal government.

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Ten Retirement Myths Series: Myth #9

Investments, Personal Finance

I can deal with a shortfall in retirement savings by working longer or taking up some part time work.

Recent studies have found that almost half of retirees left the workforce earlier than planned. Downsizing, layoffs and negative working conditions were some of the reasons. People ages 55 plus have an average of more than 13 months on unemployment. That’s almost 5 months longer than younger people looking for jobs. (Source: Associated Press, AARP Public Policy Institute 2012)

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