All the frugality in the world won’t let this millennial retire at 45

Michel’s plan to retire at 45 is based on not spending rather than on making a big score in investments.Illustration by Chloe Cushman/National Post files 07Situation: Man hopes good salary, conservative spending and careful investing support retirement at 45 Solution: Even with aggressive savings and low mortgage rate, 60 is a more realistic goal In …

Everything you need to know about the enhanced CPP — from how much you’ll pay to how much you’ll get

For each year of pensionable earnings after 2024, maximum CPP payouts will be roughly 1.3 per cent more than under the previous rules.Postmedia While it comes too late for retiring Baby Boomers, the generations that follow will benefit nicely from the newly “enhanced” Canada Pension Plan (CPP). Higher premiums to fund it began this month. …

The real reason people fail to save enough for retirement — and what you can do to limit the damage

Perhaps as important as how much you need to save to retire is an understanding of the things that prevent people from saving enough in the first place — despite their best intentions.Illustration by Chloe Cushman/National Post files While there are conflicting opinions on whether Canadians are saving enough for retirement, there is no doubt …

This Alberta couple has all their kids’ education money in cannabis stocks. What could possibly go wrong?

Currently this family's RESP is almost entirely invested in marijuana stocks.National Post illustration Situation: Three kids, three rental properties, and a lot of pot stocks in portfolios Solution: Sell rentals, build RRSPs, TFSAs, diversify, cut taxable income In Alberta, a couple we’ll call Emily, 40, and Robbie, 37, are raising three children on a combined …

Former Dragons’ Den star’s divorce case highlights trouble with ‘expert testimony’ in family law

Robert Herjavec, an entrepreneur and Canadian reality television personality best known for his appearances on Dragon’s Den and Shark Tank.Files The more complex our world has become, the more likely it is that litigation will involve expert evidence. Many family law cases require the expert testimony of psychologists or social workers who make recommendations on …

How early RRSP withdrawals can help some retirees come out ahead

In the right circumstances, accelerating RRSP withdrawals can make you better off in the long run.File Photo Registered Retirement Savings Plans are the primary retirement savings tool for Canadians and at this time of year, all the attention is on the accumulation stage. But how you eventually decumulate the assets in an RRSP also matters: …