Are You Behind On Your Long-Term Savings Plans?

(NC) When most of us think about retirement, spending more time with family, finding new hobbies and travelling the world are often top of mind. But while retirement can be a wonderful chapter, getting there isn’t always easy.

A recent survey found 55 per cent of Canadians either believe they aren’t financially on track to retire – or simply don’t have a long-term savings strategy in place.

More than one out of five of us also report high levels of stress when planning for the future.

Fortunately, we are not as behind as we think.

Through the Canada Pension Plan, beneficiaries have a solid foundation for retirement income in their golden years. If you work in Canada, contributions to the CPP are automatically deducted from your paycheque during your working years, and any of those funds not needed to pay current beneficiaries are then invested by Canada Pension Plan Investment Board, a professional investment organization. You then get these funds back in the form of the CPP benefits in retirement.

To make sure that your pension money is there for you when you retire, CPPIB invests in a diverse set of worldwide holdings, which includes everything from public and private equities to real estate and infrastructure.

At the end of its most recent fiscal year, the fund totaled $316.7 billion and earned a gross investment return of 12.2 per cent.

Canada’s chief actuary, who monitors the financial state of the fund, estimated in the last triennial report that the CPP is sustainable over a 75-year projection period. This means that the Fund will be able to pay out benefits for at least the next 75 years, at current contribution and benefit rates.

“The fund’s performance has been strong over the past decade,” says Dan Madge, senior manager of public affairs and communications for CPPIB. “Retirees should take comfort in the fact that their Canada Pension Plan is sustainable for many generations and will be there for them when they retire.”

Planning for retirement is stressful, but CPP’s contributors and beneficiaries can remain confident the fund will provide financial stability today and tomorrow, allowing them to focus more on their families, communities and futures.

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Happy Father’s Day!

Everyone deserves to have someone in their life to look up to, no matter how tall they grow. Make no mistake, great role models come in all shapes and sizes. You may have an older brother, a friend, uncle, boss, or mentor, who has the same effect as the worlds best dad. Father’s day is not about DNA, its about thanking those who makes a difference in your life. What day of the year is a more opportune time to show thanks for all the men out there who are responsible for teaching us right from wrong, giving us the courage to be ourselves, and the motivation to chase our dreams. Looking for a way to show your gratitude? Think smart.

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Top 10 Financial Movies To Watch

When it comes to entertainment, movies are one of the most universally treasured platforms, serving as an escape into alternate realities across space, time and perspective. They can provide comic relief, emotional support, dark skepticism and every emotion on the human spectrum. Like the best forms of entertainment, they are also used to protest convention, and encourage us to think differently about our past, present and future. If you want to get into the specifics of finance, a good place to start that’s both educational and entertaining is the movie industry. According to the internet movie database, these are the top 10 movies about finance (banks, stock market and Wall street)

1. Wall Street (1987)
A young and impatient stockbroker is willing to do anything to get to the top, including trading on illegal inside information taken through a ruthless and greedy corporate raider who takes the youth under his wing. (126 mins.)
Director: Oliver Stone
Stars: Charlie Sheen, Michael Douglas, Tamara Tunie, Franklin Cover

2. The Wolf of Wall Street (2013)
Based on the true story of Jordan Belfort, from his rise to a wealthy stock-broker living the high life to his fall involving crime, corruption and the federal government. (180 mins.)
Director: Martin Scorsese
Stars: Leonardo DiCaprio, Jonah Hill, Margot Robbie, Matthew McConaughey

3.Inside Job (2010 Documentary)
Takes a closer look at what brought about the 2008 financial meltdown. (105 mins.)
Director: Charles Ferguson
Stars: Matt Damon, Gylfi Zoega, Andri Snær Magnason, Sigridur Benediktsdottir

4.Boiler Room (2000)
A college dropout gets a job as a broker for a suburban investment firm, which puts him on the fast track to success, but the job might not be as legitimate as it sounds. (120 mins.)
Director: Ben Younger
Stars: Giovanni Ribisi, Vin Diesel, Nia Long, Nicky Katt

5.The Big Short (2015)
Four denizens in the world of high-finance predict the credit and housing bubble collapse of the mid-2000s, and decide to take on the big banks for their greed and lack of foresight. (130 mins.)
Director: Adam McKay
Stars: Christian Bale, Steve Carell, Ryan Gosling, Brad Pitt

6.Trading Places (1983)
A snobbish investor and a wily street con artist find their positions reversed as part of a bet by two callous millionaires. (116 mins.)
Director: John Landis
Stars: Eddie Murphy, Dan Aykroyd, Ralph Bellamy, Don Ameche

7. Margin Call (2011)
Follows the key people at an investment bank, over a 24-hour period, during the early stages of the 2008 financial crisis. (107 mins.)
Director: J.C. Chandor
Stars: Zachary Quinto, Stanley Tucci, Kevin Spacey, Paul Bettany

8.Wall Street: Money Never Sleeps (2010)
Now out of prison but still disgraced by his peers, Gordon Gekko works his future son-in-law, an idealistic stock broker, when he sees an opportunity to take down a Wall Street enemy and rebuild his empire. (133 mins.)
Director: Oliver Stone
Stars: Shia LaBeouf, Michael Douglas, Carey Mulligan, Josh Brolin

9.Enron: The Smartest Guys in the Room (2005 Documentary)
A documentary about the Enron corporation, its faulty and corrupt business practices, and how they led to its fall. (110 mins.)
Director: Alex Gibney
Stars: John Beard, Tim Belden, Barbara Boxer, George W. Bush

10.Too Big to Fail (2011 TV Movie)
Chronicles the financial meltdown of 2008 and centers on Treasury Secretary Henry Paulson. (99 mins.)
Director: Curtis Hanson
Stars: James Woods, John Heard, William Hurt, Erin Dilly