1. Should I join my company pension plan as soon as I can?
Yes, and this applies to any kind of pension to which your employer is making contributions. In essence, pension contributions by your employer are payments of salary set aside to help you in retirement. If you pass them up by declining to join the pension plan, you’re missing out on part of your salary. Joining your pension right away also... [Read more of this post]
This is deceptively simple. Start early with RRSP contributions and then make regular payments year after year. I do this, but I think I’m in the minority, judging by the persistence of a particularly dumb financial ritual called RRSP season.
You’ll notice RRSP season getting under way in January, with lots of advertising by banks, mutual fund companies and advice firms. It then runs through February... [Read more of this post]
In this excerpt from my new book, I look at the kinds of things that young adults should be thinking about if they’re forced to move back in with their parents.
WHEN PLANS GO AWRY:
INTRODUCING THE BOOMERANG GENERATION
We’ve been talking here as if you have made a successful transition from school to the workforce, with a decent salary, a place to live and the upward mobility we all expect at... [Read more of this post]