Plan

When it comes to retirement planning, most of us focus on how much we need to save without giving much thought to how much we'll need to spend in retirement.

How much is safe to withdraw from your investment portfolio each year in retirement? One of the most common answers is to suggest some variation of the 4-per-cent rule. Under this guideline, a retiree would take out 4 per cent of his or her original portfolio in the first year and continue to withdraw the same amount – but adjusted for inflation – each subsequent year.

Managing your personal finances can be a big job. At the Bank, we’re well positioned to know! But like lots of un-sexy things in life – folding clean laundry, cleaning the oven, eating broccoli – it’s pretty essential to get a handle on it.

The life of a student is not easy. Between classes, studying, work and your social life, budgeting often falls by the wayside. The thing we forget, is that good financial management can make life a lot easier. Here’s how to get an A+ on your student budget.

Publicity

The newest retirement savings challenge is the thirty-something who still gets parental financial support. In a recent survey done for a financial planning organization, 13 per cent of parents with children 34 and older said their sons and daughters are financially dependent on them. Twelve per cent said their kids in this age bracket are causing a strain on them financially. How inconvenient – parents with thirtysomething children should be reaching peak retirement savings momentum.

Debt can weigh heavily on your shoulders and have major consequences on your financial well-being. Here are five strategies to get out of debt and back on track.

Puny income growth is a fixture in the Canadian economy, new census data show. Our economic reality is that prosperity comes not from a growing paycheque, but rather from the stuff you do with the pay you get. Three strategies to follow: Invest in your career; Invest in your wealth; Make one significant cut in your household spending.

People always seem to want to debate the validity of a budget. Second, only to insurance, budgets are the most misunderstood financial tool around.

The goal of saving for retirement is to supplement the income you'll receive from government pension plans (like the Régie des rentes du Québec and the Canada Pension Plan) and private pension plans (former employers) to maintain your lifestyle after retirement.

Publicity