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Random Musings

from the mind of a CFP

RRSP Season? Is That Like Rabbit Season Thumbnail

RRSP Season? Is That Like Rabbit Season

I'm not sure when it happened, but sometime in the last 60 years, the two months between Christmas and March 1st have become RRSP Season. What does that mean? Is it like hunting and its the only time you can do it or is it more like sweater season where it's suggested you bundle up?

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When the Defined Benefit Pensions "Cash for Life" Doesn't Help Thumbnail

When the Defined Benefit Pensions "Cash for Life" Doesn't Help

The Defined Benefit Pension is slowly becoming a thing of the past. Gone are the days when you can work for an employer for 30 years and retire knowing you will have a set amount of income provided by said employer for as long as you live. There are only a few defined benefit pension plans left in Canada, mainly due to the cost of keeping them afloat for such a long period of time. With people living longer and longer, companies will be on the hook to make payments further into the future.

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Why Mortgage Insurance is a Bad Idea Thumbnail

Why Mortgage Insurance is a Bad Idea

As part of my Financial Education seminars, the topic of mortgage insurance always comes up. “I don’t need more insurance, Ken. My mortgage is protected by the bank.” Is it? Let us examine exactly what you are paying for and what is actually protected.

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