There are plenty of retirement plan options in Canada! Stay on top of the best plans right here.
Latest News
Louisiana hit with credit rating downgrade, blow to state + MORE Feb 26th
BATON ROUGE, La. – Louisiana’s credit rating was downgraded for the first time in more than a decade Thursday, in response to years of budget instability that leave public colleges and government services wallowing in continued financial uncertainty.
The decision by Moody’s Investo.... More »
Credit Suisse lands ex-Morgan Stanley managing director + MORE May 6th
Quick courtship of veteran investment banker Ram Amarnath a sign of the importance investment banks attach to covering Canada’s private-equity firms and pension plans
.... More »
Segregated funds are no tax panacea + MORE Jun 6th
Ask a Planner
I attended a financial planning seminar and the presenter said you’re taxed so high on RRSPs when you die that your kids are only going to get half of it, which I already kind of knew. So, if you put it into these segregated funds, then you don’t pay tax. Should I be doing.... More »
Should I rely on REITs for better investment returns? + MORE Mar 31st
Q: As a retiree, I need to maximize my return on investments. I notice there are a number of income trusts that have significant yields and I was wondering if there is an ETF made up of income trusts. While I know this income is fully taxed my plan was to keep such an ETF in a TFSA. I have a REIT ET.... More »
How the coronavirus pandemic could change the way we think about retirement in Canada + MORE May 4th
Over the past few decades, the concept of retirement has grown increasingly more sophisticated. Canadians preparing for retirement have been able to contemplate a variety of highly personalized approaches—from early (or even very early) retirement; to active, phased, or working retirement; and mor.... More »
The reality behind two RRSP myths: Mayers
– thestar.com
RRSPs are a great idea, but many think the refund is a windfall that makes them wealthier. It doesn’t.RBC reports RRSP receipt mix-up for some clients
– theglobeandmail.com
The bank said that it is in the process of reaching out to affected clients and providing them with corrected receipts, as well giving them additional security monitoring at no charge
RRSP Do’s and Don’ts for 2016
– rhondasherwood.com
Registered Retirement Savings Plans (RRSPs) are an important part of your overall financial strategy. They allow you to invest money that will grow on a tax-free basis until it is withdrawn. To get the most out of this type of financial vehicle, you need to understand its features and benefits. To make it easier for you to follow, I’ve compiled some RRSP Do’s and Don’ts for 2016.
RRSP Do’s and Don’ts for 2016
DO make the maximum contribution, if possible.
For 2015, the maximum amount you can contribute to your RRSP is 18 percent of your earned income or $24,930, whichever is less minus your pension adjustment plus your past unused contribution room. By contributing the maximum amount each year, you will have a higher amount of savings in your plan, more money in retirement and potentially a good size tax rebate.
DO make your annual contribution at the beginning of each year.
By making your annual contribution early, you are taking advantage of the benefit of compound interest…
Fewer Canadians planning RRSP contributions this year
– moneysense.ca
TORONTO – The percentage of Canadians who plan on contributing to their RRSP before the deadline at the end of next month is down slightly from last year, according to a poll issued by the Bank of Montreal.
However, the survey found that those who have already contributed and those who are still planning to add to their retirement savings are putting aside a little more than last year.
Of the Canadians surveyed, 61 per cent of those not yet retired said they would be making a contribution to their RRSP, down from 64 per cent a year ago.
How I’m preparing for retirement in a bear market »
But the average contribution for those who have already contributed was $3,984, up from $3,738 last year.
And among those planning to contribute, the average amount was $3,327, up from $2,892 a year ago.
The deadline to contribute to an RRSP for the 2015 tax year is Feb. 29.
The poll, conducted by Pollara for the Bank of Montreal, was based on an online sample of 2,177 adults between Dec. 30, 2015, and Jan…
However, the survey found that those who have already contributed and those who are still planning to add to their retirement savings are putting aside a little more than last year.
Of the Canadians surveyed, 61 per cent of those not yet retired said they would be making a contribution to their RRSP, down from 64 per cent a year ago.
How I’m preparing for retirement in a bear market »
But the average contribution for those who have already contributed was $3,984, up from $3,738 last year.
And among those planning to contribute, the average amount was $3,327, up from $2,892 a year ago.
The deadline to contribute to an RRSP for the 2015 tax year is Feb. 29.
The poll, conducted by Pollara for the Bank of Montreal, was based on an online sample of 2,177 adults between Dec. 30, 2015, and Jan…
Worldwide market turmoil a painful lesson for those close to retirement about importance of balancing risk in portfolios
