Retirement planning getting you down? There are always smart ways to plan the financial aspects of your retirement.
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Planning for the (potential) costs of long-term care + MORE Feb 17th
According to the Ontario Long Term Care Association’s report This is Long-Term Care 2019, 82% of long-term care residents are 75 years of age or older, and 55% are 85 or older. Residents under 75 are generally those who “have experienced a brain injury, stroke, and other conditions that require .... More »
RESP vs RRSP and TFSA: What’s the best option for education savings? Aug 31st
Welcome to Education Money, a new column that covers the questions and concerns parents and investors have about funding their child’s education. Andrew Lo, CEO of Embark, shares his thoughts and insights on how to make the most of RESPs. To kick off the column, he explains the different options C.... More »
Women, here’s how to save more for retirement — or you’ll live to regret it + MORE Mar 2nd
The right adviser and the right habits can impose discipline, writes Lesley-Anne Scorgie..... More »
When are TFSAs and RRSPs actually taxable? + MORE Feb 29th
Ask MoneySense
I saw your blog online; thank you so much for the wonderful job that you are doing—it was very informative! That motivated me to start investing too, but now I have a couple of questions. I understand that there is tax on U.S. dividends in TFSA. Do we pay tax as well when we sell:
.... More »
What retirees need to know about tax brackets for 2025 + MORE Dec 20th
In our working lives and in our post-work retirement or semi-retirement phases, taxes are one of if not the single biggest expense. This hits home with the annual tax-filing deadline in April, but the time to start thinking about the yearly ordeal is before year-end.
The complexity of this task i.... More »
Can you make a transfer from an RESP to a spouse’s RRSP?
– moneysense.ca
Q. I have an RESP account that I plan to wind down—and I have very little RRSP contribution room, but my wife has quite a lot. I just read this article you wrote for MoneySense about transferring money from an RESP to an RRSP. I thought it was permissible for a subscriber (that would be me in this case) to transfer accumulated income from an RESP to his spouse’s RSP account. Is there a reason you didn’t mention this option for transfers in your article?
–Ralph
A. Thanks for your question, Ralph. The important thing to remember about questions to Ask a Planner is that there may be nuances specific to that reader which make the answer you read online less applicable to your own situation.
In fact, this is an important consideration anytime you are doing online research for a personal finance matter. I have seen information on even government or bank websites that is incomplete, outdated or inaccurate. So, be careful about taking the information you find online as gospel—take it with a grain of salt…
–Ralph
A. Thanks for your question, Ralph. The important thing to remember about questions to Ask a Planner is that there may be nuances specific to that reader which make the answer you read online less applicable to your own situation.
In fact, this is an important consideration anytime you are doing online research for a personal finance matter. I have seen information on even government or bank websites that is incomplete, outdated or inaccurate. So, be careful about taking the information you find online as gospel—take it with a grain of salt…
