All about Retirement Planning in Canada. Learn the ins and outs and get the latest news.
Latest News
Stock news for investors: Cineplex and Aritzia post strong results despite industry headwinds + MORE Oct 11th
Here’s a round-up of news for Canadian investors this week.
Cineplex
Aritzia
Trilogy Metals
Barrick Mining
Cenovus-MEG Energy
Featured RRSP Accounts
featured
EQ Bank
Buil.... More »
“What type of content am I reading?” + MORE Nov 23rd
You can always tell by how an article is labelled what type of content you’re reading. The label appears not only on the article itself, but anywhere it appears on the website.
No label. If the only label you see is a topic tag, such as Investing or Retirement, that means you’re reading a purely.... More »
Should RRIF withdrawals be based on the younger spouse’s age? Nov 9th
I am wondering about the minimum RRIF withdrawal calculation. We are wondering if it would be beneficial to use the younger spouse’s age to result in a lower annual combined income. Can you explain the reasoning behind this?—Bernie
When can you convert an RRSP to a RRIF?
Registered retirem.... More »
How to make sure you have enough money to fund your RRIF withdrawals + MORE Apr 18th
After decades of using registered retirement savings plans (RRSPs) to reduce taxable income, it can come as a shock to discover the shoe will one day be on the other foot. At the end of the year you turn 71, you have to either cash out your RRSP (not recommended), annuitize it or convert it into a R.... More »
Tax write-offs that Canadians often get wrong Apr 18th
I come across frequent questions from taxpayers about expenses they think they can claim as a tax deduction or credit. Often, they cannot be claimed, or there are strict criteria that apply.
Safety deposit box
Back in the olden days, investors sometimes kept stock certificates in their safety .... More »
Reasons to tap RRSPs before age 71
– moneysense.ca
Q: If you are self-employed and have a holding company, does it not make sense to use your RRSP funds before 71 and then opt for funds from your holding company after?
—Tom
A: You’ve asked a good question and you’ve already got your answer, Tom, but I’m going to help validate why it makes sense to use RRSP funds before age 71.
For reader clarification, a “holding company” is a term for a corporation that holds investments and is no longer an active operating business.
I think taking RRSP withdrawals before 71 makes sense for far more Canadians than those who actually take early withdrawals, Tom. I feel it’s wise to pursue strategies that can help you pay less tax over your lifetime rather than just focusing on what saves you the most tax this year.
Ask a Planner: Leave your question for Jason Heath »
An RRSP must be used to either buy an annuity or be converted to a RRIF by age 71 – a RRIF being the most common choice – and both options require minimum payments each year after that…
A breakthrough strategy: How to make TFSAs a retirement-income tool
– theglobeandmail.com
A breakthrough strategy to use these versatile accounts to pay yourself in retirement offers simplicity – and new levels of tax freedom
One huge cost to factor into retirement plans
– moneysense.ca
Canadian seniors look to the health care system in the United States – currently under attack from the Trump administration – and breathe a sigh of relief about our universal health care system.
We can count our blessings, relatively speaking, but that doesn’t mean health care costs – including eldercare, nursing homes and the like – won’t be a significant out-of-pocket expense in our golden years.
A recent conference on this topic sponsored by Toronto-based TriDelta Financial drove this point home. A majority of seniors or soon-to-be retirees are concerned whether their finances will be able to stretch far enough to cover serious future health issues. According to Healthcare “Navigator” Virginia Miles, owner of Compass Health Care Solutions, 33% of Canadians are “very concerned” and another 39% are “somewhat concerned” about their ability to meet future healthcare expenses.
We can count our blessings, relatively speaking, but that doesn’t mean health care costs – including eldercare, nursing homes and the like – won’t be a significant out-of-pocket expense in our golden years.
A recent conference on this topic sponsored by Toronto-based TriDelta Financial drove this point home. A majority of seniors or soon-to-be retirees are concerned whether their finances will be able to stretch far enough to cover serious future health issues. According to Healthcare “Navigator” Virginia Miles, owner of Compass Health Care Solutions, 33% of Canadians are “very concerned” and another 39% are “somewhat concerned” about their ability to meet future healthcare expenses.
Read more of “Retired Money” column
Furthermore, 81% find our health care system to be too complicated and 78% find navigating the system a challenge…
