Besides loving education, summers off (for those of you not teaching summer school) above-average income (average Canadian employment income according to StatsCan age 45-54 is $64,800; age 35-44 was $59,600) plus benefits, teachers will receive a great pension. The Ontario Teachers’ Pension Plan provides a pension income example: If you earn $85,000 in your five […]
9 Post-retirement Careers for Teachers
It may seem like an oxymoron to talk about retirement and post-retirement careers in the same article. But it’s also not uncommon for people to retire from one career field only to transition into another. One day you might choose to retire from teaching, but not retire completely. If you decide to re-enter the workforce, […]
Why teachers need a financial advisor
Firstly, this is a biased article for me to write as I am a financial advisor. However, when I talk to teachers at various points in their career about their financial concerns, the one response I seem to hear is “I wish I had one of you earlier”. Why do teachers need a financial advisor? 1. […]
How much life insurance should a teacher have?
The Life Insurance Agent of Canada: There are various different types of life insurance available, but how do you know which one is right for you? Once you’ve found the right product, how much should you buy? Do I need life insurance? Are you married, have children, a mortgage, or other outstanding debts? Chances are […]
Why Teachers Should Avoid RRSPs
Situations when contributing to an RRSP isn’t worth it Your Ontario Teachers’ pension benefit is linked to your RRSP contribution room. The greater the value of your pension benefit, the less room you will have available to contribute to an RRSP. Every member of a registered pension plan receives an annual pension adjustment (PA). Your […]