A roundup of investment ideas for active investors
The best way to protect your retirement savings from a market crash is to safely park enough money to cover your income needs for two to three years.
A feature of every stock market crash I’ve seen as a personal finance and investing writer is the senior distraught over the idea of having to sell hard-hit stocks and equity funds to cover the minimum annual required withdrawal from a registered retirement income fund. In both the 2008 and 2020 crashes, the federal government allowed a 25 per cent reduction in the minimum RRIF withdrawal for those years.
You could keep this money in a high interest savings account, where rates have recently climbed to between 1.5 and 2 per cent at best among alternative bands and credit unions. If you have the financial flexibility to lock money into a GIC, the best one-, two- and three-year rates in mid-May were 3.35, 3.95 and 4.1 per cent, respectively.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ontario reports lowest number of people in intensive care with COVID-19 since DecemberThe number of people being treated for COVID-19 in intensive care has hit its lowest point since December, as the overall burden on the healthcare system continues to ease following the sixth wave of the pandemic.
Read more »
Canada's home prices fall for first time in two yearsHome prices declined 0.6% in April from the month before, the first drop since April 2020, says the Canadian Real Estate Association.
Read more »
Pandemic housing boom ‘winding down’ as Canadian home prices drop for first time since April 2020The number of home sales nationally fell 12.6% from March to April while the home price index slid 0.6 per cent on a monthly basis
Read more »
Barry Choi: Survey reveals what Canadians plan to do with their tax refundInvest, save, spend: The best option depends on your financial situation
Read more »
Save on seven advanced cryptocurrency investment training coursesBy educating yourself on crypto, you can invest with greater knowledge and confidence
Read more »
Save on seven advanced cryptocurrency investment training coursesBy educating yourself on crypto, you can invest with greater knowledge and confidence
Read more »