All about Retirement Planning in Canada. Learn the ins and outs and get the latest news.
Latest News
Making sense of the markets this week: December 10, 2023 Dec 14th
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
Interest rates stay the same—bank accounts, not so much
As was widely anticipated, the Bank of Canada (BoC) chose to k.... More »
Harper pledges higher RRSP withdrawal limit for homebuyers + MORE Aug 13th
The Conservatives would let first-time buyers take $35,000 from their RRSPs to pay for homes if they’re re-elected, said Stephen Harper during a campaign stop in Vancouver on Wednesday.
Under the Home Buyers’ Plan, new buyers can currently take $25,000 from their registered retirement plans, tax.... More »
2022 Income Tax: New tax credits for Canadians Nov 30th
It’s that time again… to get all your paperwork ready for tax season. We all know about having our T4 and registered retirement savings plan (RRSP) contribution statements ready, but what about the new tax credits for the 2022 tax filing season? What are they and how do they work? Don’t wo.... More »
TFSA vs RRSP: How to decide between the two Jun 29th
One of the most common questions out there is whether to invest in a registered retirement savings plan (RRSP) or a tax-free savings account (TFSA). Both will help you save, and save on taxes, but each works in different ways. Understanding these investments will help you know when to use one or the.... More »
Can you move income back and forth between spouses? Aug 22nd
Ask MoneySense
I have an investment property (condo) in my name. I would like to sell it and [have the proceeds] paid out half to me and half to my spouse. The plan is to make the maximum RRSP contribution for both of us to minimize the capital gain.
Is that plan OK, legal, and wise?
–Zlatko.... More »
Baby Boomers Do Not Feel that They Have Currently Saved Enough to Retire
– rhondasherwood.com
Canadian baby boomers are pushing their way through to retirement, but that doesn’t necessarily mean they feel they are adequately prepared for this time of life. If your current saving are not enough to fully fund your retirement plans, you’ll need to review all of your available income options to ensure you have enough money to take this step.According to the results of a poll conducted by BMO Wealth Institute, many Canadians in this age group do not feel that they have currently saved enough to retire comfortably. On average, Canadian Baby Boomers are missing the mark in saving for their retirement goals by more than $400,000. Most of the respondents said they needed an average of $658,000 in the bank to feel secure about retirement money matters, but they only have about $228,000 saved. Almost half of the survey respondents (46 percent) said they were not confident about their financial security as they approached retirement.
Multiple Income Sources in Retirement
If you are only looking at savings to fund your retirement, you are missing out on other potential sources of income…
What retirement crisis?
– moneysense.ca
The doomsayers are wrong, according to Canadian Business’ Retire Wealthy special report. With pension funds and the stock market roaring back to life, there’s plenty of evidence to suggest Boomers (and their children) will be wealthier, healthier and happier in their golden years than any other generation has been. For more on this plus retirement tips, stock picks, profiles and photo galleries, click here.
The post What retirement crisis? appeared first on MoneySense.
Toronto StarEx-Supreme Court judge expected to back Quebec values charterToronto StarA former Supreme Court of Canada judge, who claims she sees more veiled women in Quebec than in her travels to Muslim countries such as Pakistan and Morocco, is expected to line up behind the Parti Québécois' charter of values and lend her legal …Don Macpherson: A 'gender gap' over the Charter of Quebec ValuesMontreal GazetteLight shed on public service pension plansVancouver SunComing together for a secular QuebecGlobalnews.caThe Globe and Mailall 45 news articles »
