| The
Retirement Balance: Who determines your current and future consumption rate? |
 |
|
 The
common assumption in retirement planning has long been that average Canadians
should replace 70 per cent of earnings from their last year of full-time work.
Many advisors now suggest replacing 80 to 100 per cent because boomer retirees
will lead more active, expensive lives and might still be feeding both kids and
mortgages. An analysis by Fidelity Investments Canada suggests 75 to 85 per cent.
Use the Read
More link to view the complete article. |
| Year-End
Planning Checklist |
 |
|
 Charitable
donations: In order to claim a Charitable Tax Credit for 2007, you need to
make a donation by December 31st.
RESP contributions: In order to qualify for the Canada Education Savings
Grant (CESG) for 2007, Registered Education Savings Plan (RESP) contributions
must be made before the end of the year.
Tax-deductible business expenses: If you’re self-employed or run
your own business, you may be able to deduct a number of business-related expenses
from your taxable income for the year. To claim the expense in 2007, be sure
to pay by December 31, 2007.
|
How
to have cash at the end of it all
Annuities Are Like A Mortgage In Reverse |
|
|
 If
you are planning to live to 100, you better make sure you don't outlive your money.
One way to do that is to ensure you have the most tax-effective source of retirement
cash. Here are a few ideas.
Use the Read More
link to view the complete article. |
| Travel
Insurance survey updated |
|
|
|
Travel insurance, while it may seem like an unneeded expense at the time, can
literally be a lifesaving purchase and should be a top priority for all travelers,
especially senior snowbirds. Check out our recently updated Travel Insurance
Survey for the lowdown on companies offering this product and exactly how much
it will cost.
Use the Read
More link to view the survey.
|
| Some
of the recent federal budget changes, and what they may mean to you |
|
|
 Pension-income
splitting: Couples receiving qualified pension income can now elect to transfer
up to 50% of it to their spouse.
RIF conversion deadline extended: You can have until the end of the
year you turn 71 to convert your RSP into RIF or other retirement income options.
New Child Tax Credit: Parents can now claim a non-refundable Child Tax
Credit worth $310 for each child under the age of 18. This credit is available
to all parents, regardless of income level.
Credits increased: The age Credit has risen to $5,066.00 from $4,066.00
and the spousal and Dependent Credits have increased to match the Basic Personal
Amount ($8.929 in 2007)
|
| What
the Investment Manager has to say |
|
|
|
 Starting
this month we will be offering a selection of articles for your perusal from
a trusted Investment Manager. For November we've provided three articles from
Fidelity Investments:
| • |
The
Dividend Effect
Income, growth and downside protection - as more and more Canadians move into
retirement, they're discovering that equity-paying dividends have just what they
need. |
| • |
New
look at the old country
Along with North America, Europe is one of the world's few mature investment markets.
But we can't forget those subtle differences that make Europe a good place to
diversify - especially now. |
| • |
The
case for global income investments
In the past, Canadians have been reluctant to invest abroad. But now they're
eager to take advantage of global opportunities - including income investments. |
|
| "How
much should you be saving for retirement?" - Pension Calculator updated |
|
|
 We've
made some improvements to our popular retirement income and requirements calculator,
created by Bruce Cohen, author of "The Pension Puzzle".
Use the Read More link to view
our Financial Tools section of our website. |
| Interest
rate management ideas |
|
|
 While
credit card rates are subject to change, they don’t generally rise and fall
with the banks’ prime rate. By using your credit card wisely, you’re
paying the total balance so you don’t pay interest at all. If you need to
carry continually having to carry a balance, consider applying for a line of credit.
Interest rates on Lines of Credit are normally much lower. Another factor to consider
with credit cards is a new advent we’ve noticed, is that some credit card
issuers have changed the terms and conditions of usage. What we’ve uncovered
is that your interest rate may be jacked-up higher if you miss paying the minimum
payment – no mention of it going down afterwards.
If you have a variable-rate personal loan or mortgage, your interest rate will
rise along with the banks prime lending rates, although your regular payment
usually won’t necessarily be affected. If you have a fixed-rate loan or
mortgage, the interest will stay the same until the end of the term of the loan.
Remembering that fixed-rate credit cost is normally more than variable rate
– It’s the price you’re paying for the security of always knowing
what your payments will be.
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Today's
Market Rates |
|
|
| |
Taken from the FiscalAgents.com
Money Centre, as of 11/21/07
| Term
Deposits |
4.60 %
|
Annually,
90-119
Days, $25,000 |
| GICs |
4.75%
|
| Annually,
3 Year, $5,000 |
| Maximum
Rate |
4.81%
|
| Annually,
5 Year, $10,000 |
| RRIFs |
4.81%
|
| Annually,
3 Years, $50,000 |
| RRSPs |
4.75%
|
| Annually,
3 Year, $5000 |
| Savings
a/c |
4.10%
|
| Daily |
|
Click the link below to view our best-offered rate table.
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Mutual
Fund Statistics:
October
2007 |
|
|
|
| Assets
under management: |
|
$709.8 billion |
| Net
sales (excl.reinv.distr.): |
|
$2.4 billion |
| Fund-of-Funds
Assets under management: |
|
$111.1 billion |
| Fund-of-Funds
Net Sales (excl.reinv.distr.): |
| $866.5
million |
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