How to go about securing the best Retirement Plan in Canada.
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“We’re well off in retirement. How can we pay less tax?” + MORE Aug 29th
Ask MoneySense
Both my wife and I are retired. My wife is 72 years old and I am 68. Our combined incomes are based on CPP, OAS, RRIFs and dividends (both from our non-registered investments portfolio and corporate dividends that we both get quarterly from a holding company that manages the corporat.... More »
Stock news for investors: Goeasy shares plunge nearly 60% after lender suspends dividend + MORE Mar 14th
Here’s a round-up of news for Canadian investors this week.
Goeasy
Algoma Steel
Transat
RBC
MDA Space
Empire
Featured RRSP Accounts
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EQ Bank
Build your retirem.... More »
Online “finfluencers” grow up + MORE Jul 4th
If you’re someone near or at retirement, has a column like the one you’re now reading ever “finfluenced” any of your financial decisions? Increasingly, many Canadian investors are turning to a new generation of voices online, a trend that regulators are starting to watch more closely.
.... More »
CPP payment dates this year, and more to know about the Canada Pension Plan + MORE Aug 30th
In Canada, no retirement plan is complete without considering the CPP. Whether you’re approaching retirement or still several years away from it, the Canada Pension Plan will likely play a role in your retirement income. How big a role depends on several factors. You may have other questions, too..... More »
How to plan for retirement when you have no pension Nov 22nd
In years past retirement planning was relatively easy. Fifty years ago, more than half of working Canadians, and an even higher proportion of men, could fall back on a corporate or union pension plan as their main source of income in retirement.
That’s no longer the case. Just 38% of paid work.... More »
What’s my RRSP contribution limit for 2022?
– moneysense.ca
If you’re like many Canadians, you’re hoping you’ve paid enough tax in 2022 and may even be looking forward to a hefty tax refund. (The deadline for filing this year is April 30, 2023, and since that date falls on a Sunday, you actually have until May 1, 2023 to file.) You can help ensure that happens by knowing the details of your registered retirement savings plan (RRSP), what sets this type of registered savings account apart, your contribution limit and a whole slew of other things. Here are the basics:
What’s an RRSP?
A registered retirement savings plan, or an RRSP is a savings account that you open at a bank or other financial institution. It is registered by the federal government of Canada for tax savings, and you can contribute to the account up to an annual maximum amount.
What’s special about RRSPs?
Contributions to RRSPs are deductible, meaning they can be used to reduce your Contributions to RRSPs are deductible, meaning they can be used to reduce your taxes…
