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The Globe and Mail's Smart Money section is dedicated to giving you what you need to manage your personal finances successfully. Smart Money appears every Saturday in The Globe and Mail and on globeinvestor.com.
ROB CARRICK talks to three strategists and gets three subtly different takes on how to protect yourself from market hobgoblins
Happy October, investors. The nastiest, most capricious month in the financial calendar is in vintage form this year.September is actually the worst month for the stock market on average, but October has delivered shocks like the crashes of 1929 and 1987. Yes, the weight of history is considerable as we assess the disastrous week that was on the formerly unstoppable Toronto Sock Exchange.
They are fortunate because they've not been careful savers
In a small town in Ontario, a couple we'll call Oliver and Anne are planning to retire in three years. By then, Oliver, a middle manager at a university, will be 57 and Anne, a nurse, will be 55. With gross annual incomes that total $146,500 and no children, two company pensions and nearly $1.8-million in total assets, they should have no worries in their lives after work.
Who'll pay your medical, dental, drugs and life insurance coverage when you retire? Many companies are freezing or dropping defined benefit plans and experts say it's important to check long before you go, VIC PARSONS writes
You've listened to the advisers and have your retirement finances in order: Company and government pensions, RRSPs, investments and maybe even a little contract work on the side will cover your planned lifestyle for 30 years and more after you leave your full-time job.
A weekly scorecard of some of the lowest and highest rates and yields across Canada.
MORTGAGESThe lowest rates posted for one, three and five year closed mortgages.1-YEAR CLOSED PACE Savings and Credit Union3.59So-Use Credit Union3.60Ukrainian Credit Union 3.65Ontario Civil Service Credit Un.3.95Comtech Credit Union 3.99Average rate4.71
I just finished reading Peter Newman's book about Brian Mulroney. All I can say is that I'm glad that my private conversations over the years have not been taped. Mr. Mulroney's recollections caused me to think about some of the changes in the financial world that I have witnessed. In the interest of full disclosure, I must inform you that demands for my memoirs are not heating up. Therefore I will use this forum to review some history as it relates to money management and the brokerage industry. You will have to wait for my memoirs for the four-letter words.
When it comes to the last year for making contributions to your registered retirement savings plan, a little creativity can help you boost the final value of your portfolio. Here is one approach to take.
It may sound like a tempting offer.You decide to retire early and your employer offers you the option of taking out accumulated pension funds -- possibly hundreds of thousands of dollars -- and investing them yourself, rather than waiting for years for a guaranteed pension.
A weekly examination of the thinking behind a specific trade in the stock, bond or currency markets.In this week's trade we look at the bitter world of corporate divorce, and the sweet profits to be made from it.
A selection of the past week's winners and losers
STARSYum Brands (YUM-NYSE)$50.08 U.S., up $1.67What do Taco Bell, Pizza Hut and KFC have in common, apart from being part of a balanced breakfast for many Americans? They're all owned by Yum, whose stock rose after the company beat third-quarter estimates and raised its outlook for the year.
