June 1 roundup - MoneySense

June 1 roundup

On changing retirement expectations, new duty-free spending allowances and three money-smart kids.




•Market volatility has nearly doubled as a source of concern and worry for Canadians approaching retirement, a new survey has found. Thirty-five per cent of respondents to the Horizons Retirement Survey by Rogers Group Financial (no affiliation with Rogers Communications Inc.) cited the markets as a significant concern. The poll also noted an up-tick in the number of people planning to work part-time in retirement (47%) and the overwhelming majority expect to be able to travel more in retirement (85%).

Duty-free spending allowances were officially raised Friday. Under the new rules, Canadians spending the night south of the border can bring back $200 worth of goods duty-free, up from $50. Spending between two and seven nights state side? You can now spend $800 duty-free, up from $400. Day trippers beware: the duty-free limit for cross-border shoppers planning a same-day return has not increased from $0 (though border officials have been known to turn a blind eye to goods under $50).

•You’ve got to check out these kids featured on MoneySavingMom.com. The little rugrats have combed flyers and pooled their money together to buy themselves a trampoline, Nintendo Wii, art supplies and more — without anyone telling them to do so. Read the full story here. The cutest part may very well be this drawing by the youngest sibling that started it all…

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