OnFebruary1st,theincompetent, egotistical, convicted felon, narcissistic, unqualified, ignorant, islamophobe, homophobe, lying, sexual predator so called leader of the United States of America threathened Canada with tariffs fornoapparentreason. Thisindividual has a resume that would make Al Capone blush. Aside from weakening Canada's economyinordertoannexthecountry, he has threatened to take over the Panama Canal and Greenland alongwithattackingMexico. This conartistadmiresdictatorssuchas Putin, Kim Jong Un and Orban from Hungary. American democracy is on the brink of destructiontobecomean
authoritarian regime unless the 25th amendment is used. Trump is an evil racist man that has no intentions of helping his own constituents. He is dangerous to the U.S.A. and to the world.
In the coming elections Canadianvotersneedtobemindful oftheirchoiceiftheydon’twantto end up with a Trump like Prime Minister.
The Progressive Conservative leader has support from the Trump MAGAcrew and has been known to act much like Trump in regardstothemedia.
Foralistofcanadianproducts goto:
https://madeinca.ca/grocerystore-guide/
WeatherSummaryforOntario
January 2025: Dry with a Prominent Chilly Spell and Intense Snowsqualls
Temperatures
Themeanmonthlytemperaturewasclose tonormalacrossmostoftheprovince.InJanuary, itwasslightlyabovenormalintheFarNorthand slightly below normal in the southwest. In fact, on the map below, we can see a weak gradient from the southwest to northeast over the province.
Onfinertimescales,thefirstweekbegan warmer and ended cooler than normal in all regions. In the second week, temperatures fluctuated considerably but the north and Far North remained warmer than average. After a warmstartinthethirdweek,afrigidspellspread across the province bringing record low temperatures. Records set include Timmins at40.0oC(onthe20th)andWellandat-26.5oC(on the22nd).Temperaturesagainroseabovenormal formuchofthefinalweek,generallycoolingyet againasthemonthended(exceptinthesouth).
Precipitation
Precipitationwasbelowaverageformost of the province, especially in the south and northeast. Peterborough only received ~25% of their normal January amount. It was above normal in the Far North near the coast, particularlyalongtheeasternportionofHudson Bay. Precipitation was distributed sporadically but mostly evenly throughout the month. The firstweekwaslikelythedriest,exceptinthelee of the Great Lakes. Each of the following three weekssawasystemcrosstheprovince,withthe finalone(onthe27th–28th)deliveringthemost significant widespread amounts of the month in thesouthandnortheast.
Snowfall
Snowfallamountswerebelownormalfor most of the north and south (apart from in local snow belt areas including near Barrie down to Kitchener) and above normal along the James Bay coast. Several snowsquall episodes again brought plentiful amounts downwind of Lake HuronandGeorgianBay.
SignificantEvents
January 1-5: Persistent Snowsqualls Snarl Roads
Multi-day snowsqualls developed southeastofLakesSuperiorandHuronaswellas Georgian Bay on the 1st. Heavy snow bands reached the Kitchener area in the evening, with brief poor visibilities and slippery roads as far east as Hamilton by midnight. The greatest impactsoccurredlateWednesday,Thursday,and Saturday. The OPP reported multiple collisions andjack-knifedtrucksresultinginHighways400 and11beingclosedseveraltimesformanyhours.
LocallyheavysnowinabandfromLake Ontario caused dangerous travel conditions on Thursday the 16th. Late in the morning, a 15vehicle crash on Highway 401 occurred near Cobourg. One man lost his life, and four other peoplewenttohospitalwithnon-life-threatening injuries.ThesectionofHighway401westbound was closed until early Friday. Another serious collisionclosedCountyRoad28nearPortHope. A3-vehicle crash sent 3 people to hospital with non-life-threatening injuries. Reported snow amountswereonlyaround5cm(CoCoRaHs)so theintensitywaspossiblyacontributingfactor.
January 27-28: Major System Wind and IntenseSquallEvent
Very strong winds, combined with lake enhancedsnow,causedwhiteoutswithverypoor travel conditions over much of Ontario beginning on the 27th. Numerousroadswerecloseddue to poor weather and subsequent collisions; some were closed for many hours (e.g. Highway 11 fromNorthBaytoTemiskaming Shores for 4 hours due to a serious collision). School buses were cancelled for much of the northeast.Thewindsthemselves caused problems with over 20,000 without power (Hydro One). In eastern Ontario, a tractor-trailer was blown off County Road 15 into a ditch but remainedupright.TheThousand Islands Bridge restricted all high-profile vehicles less than 60,000 pounds, RVs, buses, and emptytrailers.
Ice Conditions in the Great Lakes
Ice coverage grew through the month of January. Initially at the end of December and beginning of January, ice cover fell slightly due to above normal temperatures to start off the year. During the following two weeks, ice did begin to accumulate once again, however, the freeze-up of the lakes still remained around one week behind normal. It wasn't untilthesignificantcoldspellin mid-January that ice coverage
rose sharply to reach near to above normal ice coverageoneachoftheGreatLakes.Mostofthis growth was seen along the shores of all of the lakes. This brief period of intense growth only lasted one week as near normal temperatures returned to the Great Lakes leading to a slight decreaseinicecoverandonceagaindelayingthe freeze-up by a week. At the end of the month, Lake Superior, Huron, and Ontario were all experiencing below normal ice coverage, Lake Michiganhadnearnormalicecover,whileLake Erie had above normal ice coverage and was largelycoveredbyice.
OutlookforFebruary
Guidancefornextmonthshowsnoclear likelihoodforeithertemperatureorprecipitation anomalies in the north and Far North. In the south, the outlooks are warmer and wetter than normal from February especially toward Lake Erie.
some suggestions for future stories, commented that"Itisdifficultbeingthekeeperofthehistory of Chapleau. There are so many good stories of peoplefromthatfinetown...."
Indeed, there are, but I am really not the keeper of Chapleau's history.All of us who call ourselvesChapleauitesare,withstorieswehave toldorarewaitingtobetold.
Although Shawn said he has not been backtoooftenforvisits,henotedthat"IguessI have always been and always be a 'small town boy'.EventhoughithasbeenmanyyearssinceI livedinChapleau,I,likemanyothers,considerit home. Our house is not there anymore, but the memories cannot be erased. I still long for the familiarsoundofthetrainsloadinguponawarm Augustnight.NoonewillknowwhatI'mtalking about except for a Chapleauite, or perhaps a railroadtownperson".
Asanaside,Shawn'shousewaslocatedat the Ministry of Natural Resources base at 'The Point'.
Reflections on the familiar sound of trainsonawarmsummernightinChapleauand going 'down the lake' to Mulligan's Bay by two rivers.
AsIreflectedonthepasttwoyears9now three) of writing Chapleau Moments, for the Chapleau Express, recent emails from two Chapleau High School graduates came to mind andletmestartwiththemtomarktheoccasion.
In one of my email conversations with LarryMartelhementionedreporterswritingthe firstdraftathistory,andimmediatelyitsounded familiar,butIcouldnotrecallwhohadoriginally saidit.
A Google search revealed that many journalists give former Washington Post PresidentandPublisherthelatePhilipL.Graham creditforbeingthefirsttodescribejournalismas "the first rough draft of history," but as in most things,thereisdisagreement.
Yes,perhapsChapleauMomentsisavery rough draft of some of Chapleau's history. My sourceshavebeenmanyotherswhohavestarted the story by writing about the community over theyearsandthosewhohavesharedtheirrough draftswithmeduringthepasttwoyears.Hardlya dayhasgonebythatIdonothearfromsomeone whoaddstothestoriesthatIhaveshared,andso oftengivesmeanideaforanewone.
Thanks to the hundreds of people who have been in touch since Mario Lafreniere invited me to write the column in the Chapleau Express.
ShawnRussellwhowasintouchrecently bringing me up to date on his life, and making
Out here in Cranbrook BC where I have nowlivedfor23years,peopleaskmewhyIwrite about Chapleau and not the community where I live.IhavedoneafewarticlesaboutCranbrook, buttheanswerisreallyquitesimple.Icamehere toworkandenjoyedeverymomentIspentonthe faculty of College of the Rockies where I was even able to introduce students to digital storytelling starting way back in 1994 when I taughtacoursecalledWritingforNewMedia.
ButIamnotapartofCranbrook,likeIam Chapleau. For example, I wrote an anecdotal history of St. John's Church 'Sons of Thunder... Apostles of Love' to mark its 100th anniversary in1985.WhenthegoodpeopleofChristChurch hereaskedmetowritetheirhistory,Ideclinedbut agreedtoedititinsteadanditwasputtogetherby mystudentsintheNewMediaLabatCOTR.
Itwastheirstorynotmineandtheytoldit Well.
Really though, I am a reporter, a teller mostlyofthestoriesofotherpeopleandtheirlife andtimes.IstarteddoingitinChapleauin1957 when I wrote a high school column with Joy (Evans)HeftforthelonggoneMidNorthNews and had a television show on CHAPTV owned byArthurGrout.TherestisreallyhistoryasIam stilldoingitsome54(now55)yearslater.
And as I mark the second (now third) anniversaryofChapleauMoments,letmetouch on some moments from my life and times there thatmadeitanawesomeplacetogrowup.
I was very active in the Wolf Cubs and couldhardlywaittoturneightsoIcouldjoin.
SummersinChapleauwerealwaysgreat, and camping was part of the agenda. We had a camp at Healy some 17 CPR miles west of
ChapleauontheCPR,(noroadwhenIwasakid), and we would spend part of the summer there alongwithfriendswhowouldjoinus.
But Mulligan's Bay was also part of vacationtime,andnoroadsthereeither,inthose days.Mom(MurielE(Hunt)Morris)andIwould spendtimethereatthecampsoffriends.And,asI havepreviouslywrittenaboutbridgingChapleau becauseIwentfromGreyStreettoElginStreetto visitmy grandparents,Lil(Mulligan)and Harry Morris, such an analogy could also be drawn about"goingdownthelake".
We always went down the lake even thoughitwasbyoneoftworivers.
Anyway, when we went to visit the Goldsteinfamily,wetravelledbyboatdownthe "back river' to their camp at Mulligan's Bay because their boathouse was located on the NebskwashiRiver. Cont’donP.5
LilMorris,EdithHunt(mygrandmothers),Beth Goldstein, Mom and Anne Marie, Merrick, Dawn,andmeatcamp
From left Ted Demers, me, Dave McMillan, JimEnnis
ButchPellowandmeallreadytoride!!
from OTTAWA Rapport d’Ottawa
by/par Carol Hughes Federal member of Parliament Algoma-Manitoulin-Kapuskasing
Last week, Donald Trump became the 47th President of the United States. His inauguration day and the week that followed, from the perspective of an observer from across the 49th parallel, felt like a strange moment in time. One that Canadians are not only going to havetocometogripswithbutmayrequireamore robust reaction than simply going about our national business. It was a celebration of tech oligarchs, strange and spiteful executive orders, and more incoherent and inconsistent language aroundthepotentialfortariffsthatwillonlyharm both of our economies. So what are some of the major things that happened, and what do they meanforCanada?
Inauguration day started with the usual pomp and circumstance but was moved indoors because there was a mild chill in the air, leaving observers, including Alberta Premier Danielle Smith, unable to attend the ceremony in person. But more telling are those who were invited: X CEO Elon Musk (more on him in a minute), Amazon Chairman Jeff Bezos, Meta CEO Mark Zuckerberg,andGoogleCEOSundarPichaiwere front and center, as were Trump's cabinet picks, such as Secretaryof HealthandHumanServices andnotedanti-vaxxerRobertF.KennedyJr.,and Linda McMahon, former president and CEO of WorldWrestlingEntertainmentandTrump'spick todismantletheDepartmentofEducation.Itwas a who's who of tech bros, billionaires, and sycophants…not exactly people who understand the plight of the working class, but certainly the kind of people who would exploit them at any givenopportunity.
Hisinauguralspeech,muchlikeanything he does, was a scattershot of random musings, boasting about various things being at “…levels nobodyhasseen”whileprovidingzeroevidence, andcruelattacksonvulnerablepeople.Hestated he'd call the southern border issues a “national emergency,” and begin deportation proceedings. Hemusedaboutlevyingtariffson,well,justabout anynationhecouldthinkof,andwouldcreatethe External Revenue Service. He would make a deliberate show of his cruelty by declaring it officialgovernmentpolicythatthereareonlytwo genders.
Not to be outdone, his friend Elon Musk would give a gesture during a speech at Trump's inauguration that, to put it bluntly, could not be legallyreprintedinGermanmedia,withGerman
“A Hitler Salute is a Hitler Salute is a Hitler Salute.”PierrePoilievrewashappytogetMusk's endorsementjustafewweeksago.
Trump would go on to sign many Executive Orders that day, including giving full pardons to the January 6th, 2021 rioters on the U.S.Capitalwhenhethrewahissyfitaboutlosing thelastelection.Hewould“reinterpret”the14th amendment to no longer provide birthright citizenship (so much for his flimsy claims about defending the U.S. Constitution). And he would roll back environmental protections, including pulling the U.S. out of the Paris climate agreement, and opened oil drilling in the Arctic NationalWildlifeRefuge(ANWR)inAlaska.He would also end the Equal Employment Opportunity rule, signed by former President Lyndon Johnson, that would close a loophole found in the Civil Rights Act that omitted the Federal government from having to abide by the Act,functionallyeliminatingrulesthatprohibited federal contractors' acts of discrimination, like
refusing to hire or paying people less based on theirraceorgender.
Canadians were relieved to hear nothing about tariffs…that is until he signalled that they maybeimplementedonFebruary1st.Whetherhe makes good on his tariff threat or not, we'll just needtowaitandsee.
Itallfeelsverychaotic.Whilewewaitfor whatcomesnext,itdoesseemlikehisthreatshave unified Canadians in their opposition to his ridiculous suggestion that Canada becomes the 51st state. We have universal health care, which wewouldn'ttradeforallthemedicalbankruptcies in the U.S. (the USA has the highest medical & health care costs; which accounts for 40% of bankruptcies).We'rerespectedontheworldstage, something Trump couldn't muster from world leaders in Davos as they laughed at his absurd rhetoric on the second day of his presidency.We just have to be ready to brace for what may be coming, and that means having a strong plan to fightback.
Lasemainedernière,DonaldTrumpestdevenule 47e président des États-Unis. Du point de vue d'un observateur situé de l'autre côté de la frontière,lejourdesoninvestitureetlasemaine qui a suivi semblent annoncer une drôle de période à laquelle les Canadiens ne vont pas seulement devoir se résoudre, mais qui va peutêtrenécessiteruneréactionplusforteduCanada que le simple fait de vaquer à ses affaires habituelles.L'investituredeTrumpfutunefêteen l'honneur de l'oligarchie technologique, un festival de décrets étranges et mesquins et de propos incohérents sur la possibilité d'imposer des droits de douane qui ne feraient que nuire mutuellement aux deux pays. Qu'est-ce qui s'est donc passé, et qu'est-ce que le Canada doit en comprendre?
Le jour de l'investiture a commencé par lespompeshabituelles,maislacérémonieadûse tenir à l'intérieur en raison d'un léger refroidissement. C'est ce qui fait que les observateurs,notammentlapremièreministrede l'Alberta, Danielle Smith, n'ont pas pu assister à la cérémonie en personne. La liste d'invités, toutefois, était assez révélatrice alors que le président-directeur général de X, Elon Musk (voir plus loin), le président d'Amazon, Jeff Bezos, le président-directeur général de Meta, Mark Zuckerberg, et le président-directeur
général de Google, Sundar Pichai, étaient aux premières loges, tout comme les membres du CabinetchoisisparTrump,commelesecrétaireà la Santé et aux Services sociaux et antivaccin notoire, Robert F. Kennedy Jr., et l'ancienne présidente-directrice générale de la World Wresting Entertainment, Linda McMahon, que Trumpachoisiepourdémantelerledépartement del'Éducation.Ilyavaittoutlegothadusecteur technologique, les milliardaires et leurs flagorneurs… c'est-à-dire pas précisément les gens les mieux placés pour comprendre ce que vivent les travailleurs, mais plutôt ceux qui, au contraire, sont prêts à saisir toutes les occasions quiseprésententpourlesexploiter.
LediscoursinauguraldeTrump–comme toutcequ'ilfait,d'ailleurs–n'étaitqu'unramassis de réflexions sans queue ni tête. Il y disait que plusieurs choses étaient rendues à un « niveau inouï », sans que ces affirmations soient étayées parquoiquecesoit,etils'enestprisdemanière brutale aux personnes vulnérables. Il a dit qu'il qualifieraitd'«urgencenationale»lesproblèmes à la frontière sud et que les mesures d'expulsion allaientcommencersouspeu.Ilaparléd'imposer desdroitsdedouaneàpratiquementtouslespays imaginables et de mettre sur pied le Service du revenu extérieur. Il a fait sciemment preuve de cruauté en déclarant que, selon la politique officielledesongouvernement,SuiteP.7
Toronto, ON – February 1, 2025 – The Ontario Forest Industries Association (OFIA) expresses deep concern over the February 1st announcement by U.S. President Donald Trump seekingtoimposea25%tariffonmostCanadian goods. In combination with existing softwood lumberduties,thesetariffsthreatentoundermine the economic stability of Ontario's forest sector, jeopardizing jobs, communities, and the broader Canadianeconomy.
"Ontario's forest sector is highly tradeexposed,exporting$7.9billion CAD globallyin forest products annually. Of these exports, 97% ($7.7billionCAD)gototheUnitedStates,"said Ian Dunn, President & CEO of OFIA. "Ontario
lumber producers could face a 60% tariff at the border this year, effectively wiping out all shipmentstotheU.S.ThislatestmovebytheU.S. government represents an illegal, unfair, and unjustified attack on Canadian industry. The Ontario forest sector operates under a fair, sustainable, and transparent system, and these punitivemeasuresdonothingbutharmbusinesses andconsumersonbothsidesoftheborder."
Tariffs are expected to drive up costs for American consumers, particularly within the housingsector,whereCanadiansoftwoodlumber and structural panels play a crucial role in ensuring affordability and supply stability. The U.S. has historically relied on Canadian lumber
and structural panels to meet domestic demand, and these trade barriers will ultimately lead to higher home prices, job losses, and economic inefficiencies. According to the American NationalAssociationofHomeBuilders(NAHB), proposed new tariffs on China, Canada and Mexicoareprojectedtoraisethecostofimported constructionmaterialsby$3to$4billionperyear, substantiallyimpactingbuilders'abilitytodeliver newprojects.
OFIA urges all levels of government to take immediate action, working in collaboration with industry leaders, to challenge these tariffs while providing additional urgent support measurestotheindustry.
(NC)Financialplannersusedtoasktheirclients, “What if you die? How will you look after your family?” Nowadays, with people living longer, the question is, “What if you live?” One of the keydecisionsthatmanyCanadiansneedtomake inretirementplanningiswhentobeginreceiving yourCanadaPensionPlan(CPP)benefits.It’san important decision that can have a significant impact on retirement income, but it’s a decision that is different for everyone based on personal circumstances.
Understanding the impact of early and late benefits: The standard age to receive CPP benefits is 65. You can start as early as 60, but you’llreceiveasmalleramount;oryoucandelay until 70 and receive higher benefits. (The maximum monthly amount is reached at 70, exceptforincreasesduetoinflation.)Here’show itworks:
If you choose to start receiving benefits beforeage65,paymentswilldecreaseby0.6per
ChapleauMoments
Cont’dfromP.3
When we spent time with the Pellow or the Zufelt (my aunt and uncle) families, we would travel down the 'front river' or Kebsquasheshing from where their boathouses werelocated.
Not particularly important in the grand scheme of things perhaps, but it was to a little boy who could travel both rivers to visit withhisfriendsbygoing down the lake. I have used the two rivers and lake story in Geography courses.
We also loved to play and replaying scenesfromtheSaturday
afternoon western at the Regent (later Fox) theatre was common. And we dressed for the partsasyouwillseefrom photo of me with my buddy Harry "Butch" Pellowaswetakeonthe badguys.
July 16 is a day that has special significanceinmylife,as my father Flying Officer JamesE.Morris,bornin Chapleau, in 1914, was killed while on active service in the RCAF in World War II. Had he returnedhome,itwasnot likely that we would have remained in Chapleau, and my story wouldassuredlybequite different.
If you start after age 65, payments increase by 0.7 per cent each month (or 8.4 per centperyear)uptoamaximumof42percentif youwaituntilage70.
Based on those figures, if you were eligibletoreceive$10,000ayearinCPPbenefits at65,theamountwouldbe$6,400ifyoustarted takingpaymentsatage60versus$14,200at70.
Factors to consider before deciding: It can be daunting to make the decision, but there areseveralquestionsyoucanaskyourselfbefore you decide – and of course you can choose to begin receiving benefits any time between ages 60and70.
For example, you may consider taking CPPearlierifyouareillorhaveafamilyhistory ofshorterlifespans.Youmayalsowanttopayoff debtsorinvestthemoney.Ontheotherhand,you may consider waiting longer if you are healthy, have a family history of living longer and don’t needthemoneyforimmediateneeds.
Benefits assurance: Whatever you decide, the benefits will be there for you – and you’llkeepreceivingpaymentsforaslongasyou live.AsofSeptember30,2024,theFundstands at $675 billion. It’s professionally managed by CPP Investments, the independent Crown Corporation that operates at arm’s length from the federal and provincial governments. The independent Office of the ChiefActuary, which monitorsthelong-termhealthoftheFund,saysin itslatestreviewthattheCPPFundisfinancially sustainableforatleastthenext75years.
1969, my grandmother Lil (Mulligan) Morris was the Silver Cross Mother at the Remembrance
Lastweekssolutions
MOMENTS IN TIME
On Feb. 20, 1939, New York City's Madison Square GardenhostedarallycelebratingtheriseofNazismin Germany. Inside, more than 20,000 attendees raised Nazi salutes toward a 30-foot-tall portrait of George Washington flanked by swastikas, while police and some100,000protestersgatheredoutside.
En prononçant son discours lors de la journée d'investiture, son ami Elon Musk, pour ne pas se faire damer le pion, s'est payé un geste qui, pourlediresansdétour,nepourraitpaslégalement être reproduit dans les médias allemands. Le journal allemand Die Zeit a même publié en gros titre:«Unsaluthitlérienestunsaluthitlérien».Et dire qu'il y a quelques semaines à peine, Pierre Poilievreétaitravid'obtenirsonappui.
Lejourdesoninvestiture,Trumpasignéde nombreux décrets, dont un qui amnistie complètement les émeutiers qui se sont introduits dansleCapitolele6janvier2021,lorsqueTrumpa piquéunecolèreparcequ'iln'avaitpasremportéles dernières élections. Il compte « réinterpréter » le 14e amendement de façon à ne plus accorder la citoyenneté par droit du sol (on repassera pour sa prétenduedéfensedelaConstitutionaméricaine).Il veut aussi annuler les mesures de protection de l'environnement, en retirant notamment les ÉtatsUnis de l'Accord de Paris sur le climat et en relançant les forages pétroliers dans la Réserve fauniquenationaledel'Arctique,enAlaska.Ilveut
aussi abolir les règles d'égalité d'accès à l'emploi, qu'avait adoptées l'ancien président Lyndon Johnson et qui comblaient une lacune de la Civil RightsActpermettantaugouvernementfédéralde nepasseconformeràlaLoi.Autrementdit,ilveut supprimer les règles qui empêchent les entrepreneurs fédéraux de prendre des mesures discriminatoires, comme refuser d'embaucher ou depayerdesgensenraisondeleurorigineethnique oudeleursexe.
Les Canadiens étaient soulagés qu'il ne parle pas de droits de douane… jusqu'à ce qu'il annonce que ces mesures pourraient entrer en vigueur le 1er février. Mettra-t-il sa menace à exécution?Ilfaudraattendrepourlesavoir.
Tout cela semble très chaotique. Pendant que nous attendons de voir la suite des choses, les menaces de Trump semblent avoir incité les Canadiens et Canadiennes à faire front commun contresapropositionridiculedefaireduCanadale 51e État des États-Unis. Jamais ils n'accepteront que les faillites pour incapacité d'acquitter une facture médicale remplacent leur régime universel de santé (rappelons qu'aux États-Unis, les frais médicaux sont plus élevés que partout ailleurs et qu'ils sont à l'origine de 40 % des faillites personnelles). Le Canada est respecté sur la scène mondiale. Trump ne peut pas prétendre au même respect, car à Davos, les dirigeants mondiaux se sont moqués de ses propos absurdes le lendemain même de son investiture. Nous devons donc nous prépareràcequipourraitadvenirenélaborantune riposterigoureuse.
NC) Are you feeling financially stressed? It’s easy to see why people are feeling this way. Canadians are facing affordability challenges thatimpacteverythingfromgasandgroceriesto retirement. Saving for retirement can seem dauntingwhenyou’restrugglingtopayrent,and the cost of living continues to rise. Fortunately, for Canadians there is hope with the Canada PensionPlan(CPP).
A recent survey from CPP Investments reveals that most Canadians are worried about
ThestaffoftheSuperiorEastCommunityFuturesDevelopment Corporation will be in Chapleau on February 12, 2025. The CFDC offers small business loans and counselling to current small business owners or individuals looking at starting a business. Services are available in both official languages. To makeanappointmenttodiscussfinancingoptions,pleasecall (705) 856-1105 or 1-800-387-5776, ext. 221 or email davidson@superioreastcfdc.ca.
Attention: Êtes-vous propriétaire d'une petite entreprise? Êtes-vous en besoin d'aide financière? Vous-voulez vous partirenaffaires?
Le personnel de la Société d'aide au développement des collectivitésSupérieurEstseraàChapleaule12février2025. LaSADCoffredesprêtsfinanciersetdesservices-conseilsaux propriétairesactuel(le)sdepetitesentreprisesetauxindividu(e)s intéressé(e)sàsepartirenaffaire. Nosservicessontdisponibles danslesdeuxlanguesofficielles. Pourprendrerendez-vouset discuterdevosbesoinsd'aidefinancièreoupourobtenirdes services-conseils,communiquezavecnousau(705)856-1105 or 1-800-387-5776, poste 221 ou par courriel à davidson@ superioreastcfdc.ca.
running out of money in retirement.Youngpeopleare especially concerned, with the majority of Canadians aged 18 to 24 reporting significant anxiety over financialdecisions.
Retirement savings head start: Fortunately, there’s good news. Canadians have a head start on their retirement savings with the CPP. It aims to replace up to 25 per cent of the average worker’s pensionable earnings. With enhancements introduced in 2019,thisratewillincreasetoapproximately33 per cent for future generations. The pension is indexedtoinflationandyoureceivebenefitsfor aslongasyoulive.
fund today has more than $675 billion in assets, makingitoneofthelargestpensionfundsinthe world.TheCPPisprojectedtobesustainablefor at least the next 75 years, providing financial supportforgenerationsofCanadians.
Think of your retirement income like a table; the CPP is one leg, but you’ll need other legsforsupport,aswell.RetireescanrelyonOld Age Security, employer pensions, personal savings and investments. Each of these sources canplayacrucialroleinyouroverallretirement strategy.
Planning for financial security: Understanding your financial situation and planning can reduce stress and give you the confidence you need to feel good about retirement. Managed by CPP Investments, the
A successful future starts with a successful plan. Through your contributions, you’re already building a solid foundation for a secure retirement.And with its benefits payable to you for as long as you live and indexed to inflation, you can rest assured that your savings will keep pace with the rising cost of living. Feelingfinanciallysecureisaboutmorethanjust numbers;it’saboutconfidence.Knowingthatthe CPP will be there for you can help reduce financialanxiety.
5thingsyoumightnotknowabout RRSPs
(NC)MostCanadiansdonothaveaworkplace pension. That’s why the federal government created the Registered Retirement Savings Plan.Ifyou’reoneoftheroughlyfiftypercent of Canadian wage earners who contribute to their RRSPs each year, there are a number of thingsyoumaynotknowaboutthem.Hereare five.
Theyprovideatax-deduction
Oneofthemainbenefitsofcontributing to your RRSPs is that you can get a deduction onyourcurrenttaxes.Simplyput,everydollar youcontributetoyourRRSPsisdeductedfrom your income for the year. This will reduce the amount of income you pay taxes on, and may even move you into a lower tax bracket. Your investmentsintheRRSParealsotax-sheltered astheygrow.
There’sacontributionlimit
There’s a maximum amount that Canadians are allowed to contribute to their
RRSPs each year. Your personal amount is based on 18 per cent of your previous year’s income, up to a maximum of $31,560 for the 2024 tax year. But, if you don’t use all your contributionroom,anyextracanbecarriedover into the future. You can find your unused contribution balance on your annual Notice of Assessment you receive from the Canada RevenueAgency.
Youcanwithdrawthembeforeretirement
Generally, when you withdraw from your account before its time, you will get hit withaheftywithholdingtaxandthemoneyyou take out will be counted as taxable income for thatyear.Butthereareexceptions.Forexample, you can withdraw up to $60,000 from your RRSPstouseforadownpaymentifyouqualify as a first-time homebuyer. Similarly, you can withdraw up to $10,000 a year (to a $20,000 lifetime maximum) to use for a qualifying educationprogram.Notethatinbothcasesyou
mustpaybackwhateveramountyouwithdraw into your RRSPs within a set period to avoid penalties.
Theydon’tlastforever
Manypeopledon’trealizethatyouhave tocloseyourRRSPaccountbyDecember31st oftheyearyouturn71.Atthatpoint,youhave threeoptions:withdrawalltheremainingfunds, transfer them to a similar investment called a Registered Retirement Income Fund or purchaseanannuity.
YoucanuseyouRRSPstodonate
Want to leave a legacy and make a big impactonacauseyoucareabout?Youcanname a charity as a beneficiary on your RRSP.Your financialinstitutionhasasimpleformforyouto fill out where you list all the people and/or registered charities you’d like to receive your leftover funds. Note that in Quebec, you can only name a charity as a beneficiary of your RRSPsthroughyourwill.
