How to go about securing the best policy for your insurance in Canada.
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The Canadian Dental Care Plan is now available to millions more, with coverage starting in June. Here's who's eligible + MORE Jun 1st
The dental plan, currently in its second year, will be available to many Canadians 18 and over, including their children, with eligibility based on household income, insurance and other factors..... More »
Compare auto insurance in Calgary Mar 13th
If you’re buying a new or used car, SUV or pickup truck to drive the streets of Calgary, you’ll also need to shop for auto insurance—it’s required in Canada.
Alberta drivers pay the second-highest car insurance rates in Canada (after Ontario), according to the Automobile Insurance R.... More »
CPP payment dates in 2025, and more to know about the Canada Pension Plan Apr 2nd
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 »
The best travel credit cards in Canada for 2025 May 8th
To be one of the best travel credit cards in Canada on our list, the card must combine strong earn rates with perks like lounge access, no foreign transaction fees and travel insurance coverage. We’ve compiled this list of the top cards in this category to help you get started.
Best travel cred.... More »
Do retirees need life insurance?
– moneysense.ca
Ask MoneySense
My wife and I are both retired office workers from a large manufacturing firm. She retired at 60 and I did at 61. We are both 67 now. We have good retirement income between our pensions, LIF, OAS and max CCP, as well as about $12,000 per year in dividend income. The issue is our RRSPs. We have around $900,000 combined, despite drawing down anywhere from $30,000 to $50,000 each year combined. Market returns have been good so it keeps growing despite the withdrawals. We don’t need the income but have drawn down some to take our income to just below OAS clawback level.
My wife and I are both retired office workers from a large manufacturing firm. She retired at 60 and I did at 61. We are both 67 now. We have good retirement income between our pensions, LIF, OAS and max CCP, as well as about $12,000 per year in dividend income. The issue is our RRSPs. We have around $900,000 combined, despite drawing down anywhere from $30,000 to $50,000 each year combined. Market returns have been good so it keeps growing despite the withdrawals. We don’t need the income but have drawn down some to take our income to just below OAS clawback level.
We recognize this is a good problem to have, but trying to determine if there is a software program to determine best withdrawals to make each year especially before we turn 71 and convert to RIF.
Trying to balance the issue of pulling even more money out now and paying more tax and OAS clawback versus our kids losing 50% of our RIF to tax when we pass.
—Mike
How to save taxes on an estate
Hi Mike, I will work backward to make some assumptions about your current investments and pension and then give you some things to think about, including life insurance…
