How to go about securing the best Retirement Plan in Canada.
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Making the most of the pension tax credit + MORE Nov 29th
Ask MoneySense
I liked your coverage of RRIF taxation. I would like to see more information on LIF taxation. More precisely, on the following scenario: Individuals do not get the $2,000 tax credit for RRIF withdrawals before age 65. Did I read properly that for LIF withdrawals the $2,000 tax cr.... More »
How to transfer from an RRSP to a TFSA —and why you shouldn’t + MORE Mar 3rd
Flickr
When transferring a stock from an RRSP to a TFSA, is there any advantage whether it is in a loss or gain position? Why or why not? – Darryl
If you hold a stock in your RRSP and you want to hold it in a TFSA instead, there is no way to simply transfer it from one account to the other. At lea.... More »
Strategies to make taxable investing easier + MORE Feb 3rd
In Episode 4 of the Canadian Couch Potato podcast, I answered the following question from a listener named Jakob:
I’m currently investing with all my ETFs in RRSP and TFSA accounts. This year, however, I’ll finish paying off my mortgage, so I will have more surplus cash and will have to start us.... More »
Is now the time for retirees to sell stocks and buy GICs? + MORE Aug 2nd
Ask MoneySense
My husband is retired and concerned that his money that is invested in his RRSP and TFSA is fluctuating too much. He is retired and is wondering if his funds should be in a GIC account as it’s paying 4% and not losing principal. He’s concerned in this volatile market.—Rodeen
.... More »
Should I work past 70 while collecting CPP and OAS? Sep 2nd
Q: I turned 67 in February of 2016. I still work full time and my yearly income is about $96,000 annually. I also collect a survivor benefit of $389 per month and have contributed to CPP for 14 years. I would like to delay collecting CPP and OAS until 70 but can I still work after age 70 while I.... More »
7 simple differences between RRSPs and TFSAs
– moneysense.ca
Registered Retirement Savings Plans (RRSPs) and Tax Free Savings Accounts (TFSAs) are the go-to products for Canadians who are serious about socking away some money for the future, whether it’s for retirement or for a big purchase, like a house. While the two products are similar in many ways, there are also a number of areas in which they are not. These differences may seem a little ‘duh’ for some, but laying out the obvious is a good start as you consider the more complicated question of which one is right for you—whether you’re just beginning to make the decision or if you’re rethinking your current strategy. Here are seven simple things that differentiate RRSPs from TFSAs.
1. How old they are
RRSPs have been around a lot longer than their tax-free cousin. The RRSP was introduced in 1957 by the Liberal government of Prime Minister Louis St. Laurent. Fifty-one years later in 2008, the Conservative government of Prime Minister Stephen Harper rolled out the Tax-Free Savings Account…
1. How old they are
RRSPs have been around a lot longer than their tax-free cousin. The RRSP was introduced in 1957 by the Liberal government of Prime Minister Louis St. Laurent. Fifty-one years later in 2008, the Conservative government of Prime Minister Stephen Harper rolled out the Tax-Free Savings Account…
Trudeau: Budget will restore OAS eligibility to 65
– moneysense.ca
NEW YORK, United States of America – Next week’s federal budget will restore the eligibility for old-age security to 65 as promised, Prime Minister Justin Trudeau announced Thursday, committing to undo one of his predecessor’s policies.
It was part of a wide-ranging discussion where he shared some of his intentions for the budget, specifically, and for longer-term economic policy before a New York audience.
Trudeau noted the irony of the setting. It was also in a public forum abroad, hosted by a foreign news organization, where Stephen Harper announced the policy the Liberals are undoing — the plan to raise the retirement age two years to 67.
“There’s a nice parallel here,” Trudeau told a moderator at Bloomberg.
“We will confirm that we are keeping the old retirement age at 65 — not raising it to 67. Because how we care for our most vulnerable in society is really important.”
Will Trudeau make me pay more taxes? »
The moderator pressed him on the soundness of his economics…
It was part of a wide-ranging discussion where he shared some of his intentions for the budget, specifically, and for longer-term economic policy before a New York audience.
Trudeau noted the irony of the setting. It was also in a public forum abroad, hosted by a foreign news organization, where Stephen Harper announced the policy the Liberals are undoing — the plan to raise the retirement age two years to 67.
“There’s a nice parallel here,” Trudeau told a moderator at Bloomberg.
“We will confirm that we are keeping the old retirement age at 65 — not raising it to 67. Because how we care for our most vulnerable in society is really important.”
Will Trudeau make me pay more taxes? »
The moderator pressed him on the soundness of his economics…
Two big Ontario pension funds did well in the past year, bypassing the general misery of a market selloff.
