July 11, 2025

Main source income for retiree in Canada 

Many our clients has raised the questions about what kind of source incomes they can obtain when they are retired. Today, we will summary and give you brief idea to prepare your retirement with hassle free. 

As retired Canadian, you will generally qualify for:

1. Canada Pension Plan (CPP)

The Canada Pension Plan (CPP) retirement pension provides income replacement for those who have worked or been self-employed in Canada. It is a monthly payment that replaces part of your work earnings in retirement. The amount of your CPP is based on your earnings, contributions to the plan and your age when you decide to start your CPP retirement pension. Of course, you work, you contribute, then you will get, if you never work in your entire life, such stay home mum/dad, you won't be able to qualify for this pension. 

2. Old Age Security (OAS) pension 

Most people qualify for the OAS pension if they have lived in Canada for more than 10 years after age 18. You will have to be a Canadian citizen or legal resident before you can collect your OAS pension. You may also be eligible if you've lived or worked in another country that has a social security agreement with Canada. 
3. Guaranteed Income Supplement (GIS)

The GIS is meant to support people who collect the OAS pension and have low income. To qualify for the GIS, you must:

1. live in Canada  2.collect the OAS pension 3. have an income below a certain amount.
The monthly GIS amount depends on your income from the previous year and your marital status. If you are single, you will collect a higher amount.

You cannot receive the GIS until you start collecting your OAS pension.

Please keep in mind, everyone has own particular situation, please contact us for detail info, we definitely will guide you on how to get maximum pension you deserve. 

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May28,2025

A Bankruptcy or Consumer Proposal?

Nowadays, with inflation and job loss, many people are facing financial constraints, behind bills, pilling up credit card and unable to make minimum payment. When the debts become unmanageable, there are some options that can be considered, one is bankruptcy, another one is consumer proposal. Both can give relief from debt, but they inform in different ways. We will breakdown the pros and cons for both to help you to decide which one is right for you. 

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Bankruptcy
Filing for bankruptcy protection can stop creditor collection actions against you, including lawsuits. It can also halt ongoing collections, including wage garnishments, helping to relieve some of the stress of dealing with debt.

You can file for bankruptcy through a LIT, and similar to a consumer proposal, your trustee helps to guide you through the process so you’re not going it alone. Eligible debts included in your filing are eliminated, making it easier to get a fresh start financially. And bankruptcies can be resolved in a shorter timeframe compared to a consumer proposal.

Bankruptcy may be more damaging to your credit scores than a consumer proposal and remain on your credit history for a longer time period. That could make it harder to get approved for new credit, at least until your score begins to improve. Bankruptcy filings also become part of the public record, so other people can see them.

Perhaps more importantly, bankruptcy requires you to give up certain assets in exchange for eliminating debts. While there are some exemptions allowed for things like RESPs and RRSPs, you may have to surrender other assets such as home equity or tax refunds.

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Consumer proposals
A consumer proposal allows you to reduce the total debt you must repay with the help of a Licensed Insolvency Trustee (LIT). Your LIT (whom you choose) negotiates with your creditors on your behalf.

A consumer proposal lets you consolidate debts into one monthly payment. Payments are tailored to your budget and are fixed until you complete the proposal agreement. That could lighten your financial load and potentially help you get back on your feet sooner.

Initiating a consumer proposal can stop collection actions from creditors and sidestep a bankruptcy filing. And you’re not required to give up assets in order to pay off creditors. That includes assets like checking and savings accounts, investments, and home equity.

Your creditors must be on-board with a consumer proposal for you to use one. If they don’t accept your proposal, you’ll have to consider another debt solution. It can take time to set up a consumer proposal with your creditors, assuming they agree. Once in place, payments can extend for up to five years.

While not as damaging to your credit as bankruptcy, a consumer proposal may negatively affect your credit scores. Finally, certain debts, including secured debts and some student loans, can’t be reduced through a consumer proposal.

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Choosing between a consumer proposal or bankruptcy?
Whether it makes sense to choose a consumer proposal or bankruptcy can depend on your financial situation. If you would prefer to keep your assets and you have the means to pay something towards your debt, then a consumer proposal could be a good fit. On the other hand, if you have limited income or an overwhelming amount of debt, then you might consider a bankruptcy filing instead.

Talking to a financial planner or debt counsellor can help you weigh the options. You may also consider other alternatives, such as debt consolidation loans, for repaying what’s owed.

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April 02, 2025

Business Ideas to Start in Canada in 2025

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1. Start a Blog

If you have writing experience, start a blog and host it on free blog sites like WordPress or Wix.

Upload regular, valuable, keyword-focused content and information on topics that your audience will find useful and trustworthy. Use content to build trust and communicate with your audience.

As per Indeed, bloggers make $39,186 a year on average, depending on audience size, digital traffic, content, and how long the blogger has been blogging.

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2. Become an Affiliate Marketer

Affiliate marketing is a low-cost marketing technique where a business pays affiliates to promote and sell its products. Affiliates receive a commission every time they bring in a new customer.

If you run a blog and social media platforms, use them to promote products. Find websites that offer affiliate programs, such as CJ.com, Best Buy Canada, Amazon.ca, Impact Radius, Fintel Connect, Walmart, and Rakuten.

An affiliate marketer can earn an average of $59,624 per year. Commission rates at Best Buy Canada and Amazon Associates Canada are 1% and 10%, respectively.

 

3. Buy and Sell Vintage Clothing

Secondhand apparel experts expect the industry to grow internationally by 127% and reach $82 billion by 2026. Take advantage of this by starting your own vintage clothing business.

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4. Become a Delivery Driver

Running a courier business in Canada can be lucrative, especially if you are in an area where there are many offices and business establishments.

To start a delivery service, you need a driver’s license, a dependable and fuel-efficient vehicle, the necessary tools and equipment, insurance, and the required licenses and permits.

Delivery drivers in Canada can earn an average of $20.80 per hour. Check out the best delivery apps and services in Canada.

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5. Freelance Copywriting

Freelance copywriting is a zero-cost, in-demand business idea today, as companies constantly use this service to increase sales through valuable content. Create a website for your copywriting business and develop an online portfolio that showcases your work.

Provide a list of writing services you offer, such as website content, email marketing copy, or advertising copy. Establish your rate, offering hourly and per-word options to provide flexibility.

Freelance copywriters can earn anywhere from $25 and $100 per hour, depending on experience and type of copywriting.

 

6. Teach English Online

Experts predict the global online education market to reach $198.9 billion by 2030 due to a growing interest in lower education costs.

To be an English online teacher, obtain a TEFL certification and undergo 

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7. Become a Tutor

Tutoring is one of the easiest businesses to set up, requiring minimal startup costs and is easy to scale.

Start by identifying your niche and the approach you will take. Establish your business with all the necessary paperwork (legal, regulatory, and financial). Prepare your course materials. 

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8. Start a Dog Walking Business

Dog walking is a viable business, given that many people own pets but do not always have the time to take care of them.

While a business license may not be necessary to operate a dog-walking business in Canada, check with your municipality for requirements you need to meet.

 

9. Sell Print-On-Demand Products

Print-on-demand (POD) products are popular today, with customers more than willing to pay 20% more.

POD is when you work with suppliers to sell your custom designs on goods like t-shirts, tote bags and mugs. 

To start a POD business, determine your niche, choose a product, and create a design with your customer in mind. Work with a print-on-demand company like Printify.

Create a Shopify store to showcase your products and promote them on your online platforms.

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10. Become a Handyman

A handyman business is another profitable business idea in Canada, with many homeowners and businesses needing repair jobs now and then.

Basic handyman skills include carpentry, plumbing, electrical work, appliance installation and repair, and property maintenance.

Depending on the province, you may need to obtain permits and insurance to perform residential or commercial work in Canada.

The average salary of a handyman in Canada is $25.53 per hour.

 

11. Start a Photography Business

If you love taking photos, turn it into a full-time photography business. Start by purchasing your photography equipment and attending workshops for professional photographers.

 

12. Offer Social Media Marketing Services

Many local businesses need help with their social media marketing and are open to hiring experts to help them benefit from social media.

If you are proficient in using Instagram, TikTok, and Facebook, consider setting up a social media marketing agency.

Choose a niche and industry to focus on. Expand to other sectors as your business grows over time. Bundle social media services into different packages to give clients pricing options.

The average income of a social media manager is $50,000 a year, or $25.64 an hour.

​Here is link for more info: 50 Profitable Business Ideas to Start in Canada in 2025 - Savvy New Canadians​

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Janauary1, 2025

5 recession-proof ways to make passive income, according to financial planners 

Story by insider@insider.com (Jen Glantz)

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1. Open a savings account 
While opening a savings account isn't going to net you thousands of dollars in passive income each month, unless you have a ton of money to set aside, financial planner Susannah Snider says it's still worth considering. 

That's because Snider says interest rates have been trending upward, and while the national average interest rate for savings accounts is 0.42%, you may be able to secure a rate north of 5% from a high-yield savings account. 

 

2. Build a real estate portfolio 
Real estate is a passive income stream that also includes tax benefits, and is one that financial planner George Nicola says is worth considering in case a recession happens. 

"The passive income derived from term rents and leases is recession-proof and has a low correlation to market volatility," says Nicola.

While owning real estate can require some active management to maintain high occupancy and ensure the upkeep of the property, you can also consider investing in dividend-generating REITs (real estate investment trusts) as another way of earning passive income.

Related: The best real estate investing apps

 

3. Invest in self-storage
If you have the cash available and you're looking to take on a new business venture, financial planner Tammy Trenta says it could be a good idea to look into investing in self-storage facilities.

Since recessions might call for people to sell their homes, downsize, or temporarily move to new places, investing in self-storage facilities could not only be a good investment but also a good source of passive income.

You can invest in self-storage facilities in many different ways, whether you want to buy your own facility or invest in specialist REITs that operate a large portfolio of self-storage facilities already.

 

4. Rent out a popular item
One way to start a passive income stream is to look around your house and see what you have that other people are eager to rent.

Financial planner Marli Erickson says that if you have the capital available, you can even consider purchasing an item that is in high demand to be rented. 

"During a recession, individuals do more of their chores themselves that require specific equipment and tools," says Erickson. "Get a utility trailer, as an example. Your investment will be around $2,000 and you can put a photo of the trailer on your Facebook page and put signs on it that it's available for rent." 

In this example, she also advises adding a truck, tools, garden equipment, tents, and sporting goods for a larger inventory.

You can list items that you want to rent to others on a variety of websites like Friend With A or Loanables, and every time the item is booked, you get to pocket the cash. 

 

5. Self-publish books 
If you're someone who enjoys writing or has always wanted to write a book, financial advisor Joseph Hogue says that self-publishing books is a great way to earn passive income during a recession.

"Everyone has a book idea in them," says Hogue.

Once you know what you want to write about, Hogue says it's not only easy to publish the book on your own (using platforms like Amazon Direct Publishing or Barnes and Noble Press), but you can price the book low enough that a recession won't affect people's decision to purchase it. 

While it's not easy to become a best-selling self-published author, Hogue says the benefit of publishing your book and putting it on a book retailer's e-commerce platform (like Amazon, Apple Books, or Barnes and Noble), is that you might get traffic from people searching for books on a daily basis, as opposed to just writing blog posts on your own website (which might only attract a limited and smaller audience).

 

Jan01 2023

Here are Randstad Canada’s Top 15 Jobs for 2023 and how many workers landing those positions can expect to earn in Canada.

 

1. Developer (NOC 21232)

Businesses accelerated their plans for digital projects during the pandemic and fuelled a huge spike in demand for tech talent.

“Developers now work at various organizations, from small and medium-sized businesses to large corporations and governments,” notes Randstad Canada on its website.

Developers can expect to earn $68,000 to $155,000 based on the position’s level.

 

2. HR Manager (NOC 10011)

Finding the right people for jobs during a labour shortage means the first step for many businesses is getting a good human resources manager to make those decisions.

“In the post-pandemic world, businesses face many challenges, such as budget constraints, looming skills gaps, and worker expectation shifts,” notes Randstad Canada. “HR managers help enterprises face those challenges and adopt new workplace practices that include remote and hybrid work options.”

Human resources managers can expect to earn $75,000 to $156,000.

 

3. Mechanical Engineer (NOC 21301)

Growth in the renewable energy sector is driving demand in Canada for mechanical engineers who are also sought out by employers in other STEM industries, including aerospace, automotive, manufacturing, and biomedical.

Mechanical engineers in Canada make between $66,000 to $131,000.

 

4. Welder (NOC 72106)

Retiring Baby Boomers who are licensed tradespeople are leaving a gap in the labour force and there are too few young workers to replace them.

With that shortage of welders, these workers can command salaries from $40,000 to $74,000.

 

5. Accounting Technician/Bookkeeper (NOC 12200)

“Despite an influx of new workers in the accounting sector, there is still a significant need for accountants,” notes Randstad. “Accounting is so in demand that it is a part of the Canadian immigration Express Entry system.”

Accounting technicians and bookkeepers in Canada earn from $61,000 to $114,000 annually.

 

6. Registered Nurse (NOC 31301)

Every province in Canada is screaming for more registered nurses, one of the most in-demand occupations in the country. Many provinces are currently putting in place improved processes to speed up foreign credential recognition for internationally-trained nurses.

Registered nurses in Canada make between $68,000 and $94,000 annually based on the position’s level.

 

7. Warehouse Worker (NOC 75101)

The demand for goods in Canada is high which means there is also a demand for talent across the supply chain with the most significant gap being warehouse workers, notes Randstad Canada.

“With the high demand, many job opportunities are available for both skilled and unskilled workers,” notes the human resources company.

Warehouse workers earn from $17 to $29/hour, or from $33,150 to $56,550 per year based on a standard, 37.5-hour work week.

 

8. Customer Service Representative (NOC 64409) (NOC 64400)

“Today’s customer service professionals must be able to work from home, be tech-savvy enough to use the company software platforms (including communication and customer relationship management systems), and be flexible enough to provide each customer with a personalized experience,” notes Randstad Canada.

These service professionals make between $43,000 and $74,000 annually.

 

9. Driver (NOC 73300) (NOC 73301) (NOC 74102)

Online shopping’s surge in popularity during the pandemic has not abated with the re-opening of stores as public health restrictions eased.

That’s led to a serious labour shortage for truckers and drivers to meet and overcome this supply chain nightmare.

Drivers earn between $42,000 and $65,000 annually based on their position.

 

10. Sales Associate (NOC 263102) (NOC 64100)

“A good sales associate can make a business successful,” notes Randstad Canada.

“During the pandemic, when many retail and hospitality locations were closed, many former associates found new jobs, and now stores and the hospitality sector are back up and running with a new increase in demand.”

Sales associates make from $46,000 to $84,000 in Canada.

 

11. Administrative Assistant (NOC 13110) (NOC 13111) (NOC 13112)

The responsibilities of these people, who take care of the myriad of tasks and details needed to keep the offices of businesses humming, have greatly expanded and become much more high-tech over the years.

Today, as ever, they are in hot demand.

Their annual compensation ranges from $47,000 to $99,000 based on the position’s level.

 

12. Business Analyst (NOC 21221)

With computer technology making it ever more possible to use big data to boost the profitability of businesses, the role of the business analyst has taken on even more importance in fueling business growth.

Business analysts earn between $62,000 and $142,000.

 

13. Production Supervisor (NOC 72010) (NOC 72022) (NOC 82010) (NOC 92012) (NOC 92021) (NOC 92024)

“With the vast increase in demand for online deliveries, reduced delivery cycles, a never-before competitive market, and reduced margins with ever-increasing customer demand, it’s no wonder why production supervisors are in demand,” notes Randstad Canada.

Production supervisors earn from $53,000 to $114,000.

 

14. Digital Marketing Coordinator (NOC 11202)

Digital marketing coordinators used to work almost exclusively for marketing agencies.

But that was then.

“With the rise of e-commerce, almost every company now requires a digital marketing coordinator on their team to help with critical projects,” notes Randstad Canada.

These marketing experts make from $62,000 to $122,000 annually.

 

15. Construction Project Manager (NOC 70010)

“Construction project managers are required for the construction sector primarily to help facilitate the massive housing boom that continues to take place across Canada,” notes Randstad Canada.

These project managers earn from $61,000 to $150,000 annually. 

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-Alert: our lawyers want you to know

These posts are intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. 

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