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Wealth

Majority Of Canadians Plan To Rely On CPP For Part Of Retirement Funds

Half of non-retired Canadians say they plan to retire by age 65 and expect Canada Pension Plan (CPP) to fund part of their retirement, according to a recent Leger Marketing survey for H&R Block
Canada. But less than one-third actually know how much to expect from CPP every month.

The same group of Canadians listed Canada Pension Plan, Registered
Retirement Savings Plans (RRSPs) and Old Age Security (OAS) as the top three
ways they planned to fund their retirements.

“Canadians who are not retired yet may be relying too much on CPP or Old Age
Security benefits as part of their retirement plan,” explains Cleo Hamel,
senior tax analyst at H&R Block Canada. “And with the recent changes to OAS,
you will not be able to access that benefit until age 67 if you were born on
or after February 1962.”

January 14, 2013

Wealth

Ideal Investments For The New Age Millionaire

Becoming a millionaire these days is far easier than ever before. Now making a million dollars is not going to take you a lifetime; Some people will even be able to make a million dollars in the span of just a few years. It is because of all the new investments that people are making that turn them into self-made millionaires.

So, what are some of the ideal investments for the new age millionaire? Great question because there are actually a few that you may not know much about. Being that you are probably excited to see what the future holds for you, let’s dive right into it.

August 13, 2012

Wealth

Persistence Is Key For Financial Success

When I was a child I used to have the picture (seen on the left) up on my wall that said, “Never Ever Give Up”. I really liked it because it is the true picture of what it means to persevere. Although it is silly, it gets the point across. Whether you are a frog that is being eaten by a bird or not is beside the point.

You will find that most things in life that are worthwhile involve a lot of persistence. This is especially true for achieving financial success. Persistent people make more money, save more money, and have a higher net worth than those who lack persistence. They are so successful because they never give up.

November 1, 2010

Wealth

Do You Have The Characteristics Of A Wealthy Person?

Have you ever wondered if you’ve got what it takes to be wealthy? Well, if you are curious, there is an interesting quiz you can take to find out.

Based on various research studies done in the past, there are all sorts of interesting tidbits about the qualities of people who are wealthy. For instance, did you know that optimists do better financially than pessimists, however if you are too optimistic you may be prone to spend more than you should?

Another interesting fact is that really smart people, with IQs of 130 or higher aren’t necessarily all that smart when it comes to their finances. Being intelligent in other areas does not necessarily mean you will be smart with your money.

October 6, 2010

Wealth

What Do Billionaires Have In Common?

Did you know that there are currently 937 billionaires in the world? Compared to the 6 billion people that live on our planet, that’s an extremely small number. So what do these folks seem to have in common? According to an article on globeinvestor.com, most billionaires share 5 common traits: entrepreneurism, frugality, vision, risk-taking, and patience.

So billionaires are entrepreneurs with a vision who are not afraid to take risks, but are patient enough to know when it’s the right time to make their move, and even though they may be rolling in the dough, they don’t spend their money foolishly. That doesn’t sound so hard, so why do so few of us end up to be billionaires, or even millionaires for that matter?

August 17, 2010

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