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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.
They've been in their employer's pension plan for just 15 years, but there's much they can do to hit retirement goals
A couple we'll call Charles, 52, and Marianne, 46, face a dilemma in their retirement planning. Employees of a Quebec university, their incomes total $129,000 a year.That should be a good base for a pension, but they have been in their employer's pension plan for just 15 years. That's less time than it takes to build full benefits. Worse, from a pension planning point of view, they are considering a major reduction in work and income when Charles, the principal earner in the family of four, reaches 55 in three years.
You may think you're being patriotic with those CSBs, but you could do better elsewhere, ROB CARRICK writes. Here are a few alternatives to mull over.
Old habits die hard -- that's the polite explanation of why people waste their time and money buying Canada Savings Bonds.The fall issue of CSBs are on sale through Nov. 1 and they're bound to attract the usual attention from ultraconservative savers and patriots who feel compelled to lend their money to the federal government at below-market interest rates. Others may be inclined to look at CSBs because the stock market suddenly looked shaky in the past few days.
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 rate4.76
Every investor has a market moment he or she recalls most vividly. Mine is the crash of Oct. 19, 1987, whose 18th anniversary is coming up.I was then research director of Gordon Capital. The month before, we had sent out a missive to clients, saying, ''Liquidity squeeze coming; raise cash.''
A weekly examination of the thinking behind a specific trade in the stock, bond or currency markets.For investors who sweated out the first half of October watching their golden goose -- energy investments -- dive, it's of little comfort to hear that, technically, all is not lost. That's what Merrill Lynch is saying.
A selection of the past week's winners and losers
STARSFalconbridge$33.62. up $2.80FAL.LV - TSXFunny how a few billion bucks can smooth over decades-old wounds. Inco made a $12.5-billion pitch for long-time rival Falconbridge this week, which would create a nickel colossus. No more drunken fistfights at the Randy Moose tavern. No more pouring molasses into the other guy's pick-up. We're buddies now.
