By Sheryl Smolkin
Within the last few weeks the push to expand the Canada Pension Plan has been gathering steam in Ontario and PEI. Here are some articles from the mainstream media that will bring you up to speed on the arguments pro and con.
But I really like Tim Stobbs’ take on the argument that we can’t expand CPP because higher payroll taxes will kill jobs. On Canadian Dream: Free at 45, he says, “Raising a tax won’t kill jobs…it will likely shift some around, but not remove them from the total. So don’t hide behind that as an excuse to avoid changing a program that will help the majority of people save for retirement.”
But even if CPP is expanded, it will take a generation or more for Canadians to realize the full benefits of an enhanced program. That’s why you need to save and invest on your own. Find out how to maximize your savings for retirement and other objectives in 5 Financial Principles from a 34 Year Old Millionaire Investor.
If you have a workplace pension and are wondering about whether or not you should also contribute to an RRSP, take a look at this archived blog from Gail Vaz-Oxlade.
And as the year comes to an end, many of us will be faced with the dreaded performance review. On Brighter Life, Gerald McGroarty offers 10 tips to help make your year-end appraisal an occasion for celebration, not frustration.
Do you follow blogs with terrific ideas for saving money that haven’t been mentioned in our weekly “Best from the blogosphere. Share the information with us on http://wp.me/P1YR2T-JR and your name will be entered in a quarterly draw for a gift card.