Kathy Waite News Round Up February 2016

Human psychology is key

You pay into CPP when you are working.  Once you retire, you get a monthly pension. Is CPP a good deal?  Let's look at the numbers.

Answer CPP is good for employees as your employer pays half , not so good for self employed.
Also those who are 65 now paid in under a different regime so the return is competitive to what they would have achieved in their own investments. Younger people now have to pay in more so its less so.
However its compulsory so look on the bright side its guaranteed for life and index linked

Kathy Waite Regina Saskatchewan ,

All this market turmoil makes sticking your head in the sand pretty tempting — and with the right portfolio, it’s actually not a bad idea

This video explores a complicated and boring--but important--subject: Biased advice from financial professionals regarding retirement saving and related matters usually leaves you worse off
Canada has a long way to go on this
We can barely get companies to tell you what you pay them and how your investments did so there isn't much chance of you complaining

A retired banker lets it slip, "if you start a business model that says, my clients aren't my clients, they are really counter-parties that I can make money off its no surprise we have a sales culture

A financial community that doesn't want you to figure it out

From bank fees moving up in lockstep to the growing push to regulate Uber, Canadian consumers live in an often government-abetted world to limit competition. It is sooo different from the U.S., Neil Macdonald writes.