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Earth Day: How you can invest in our planet
– moneysense.ca
Each year on April 22, the global Earth Day campaign shines a spotlight on environmental issues. The aim is to combat the existential threat of climate change by shifting away from a fossil fuel economy and toward a green, carbon-neutral one. EarthDay.org, the global organizer of Earth Day, calls for individuals, governments, businesses and institutions to “collectively push away from the dirty fossil fuel economy and old technologies of centuries past—and redirect attention to creating a 21st century economy that restores the health of our planet, protects our species, and provides opportunities for all.” So, what does that mean for your investments?
The 2025 Earth Day theme is “Our Power, Our Planet.” It urges everyone to “unite around renewable energy so we can triple clean electricity by 2030,” including harnessing the potential of solar, wind, hydroelectric, geothermal and tidal energy.
What is sustainable investing?
In recent years, Earth Day has also focused on sustainable investing, which takes into consideration a company’s practices and policies for environmental, social and corporate governance (ESG) and how they could affect long-term performance and investment returns…
Should I draw down my RRIF to avoid estate taxes?
– moneysense.ca
Is it a good idea to withdraw more money monthly than one needs from one’s RRIF? What about beginning a regularly automated transfer of this extra money to one’s non-registered investments so that there is less money in the RRIF account upon death? As a result, the estate will be taxed less (by slowly moving it from the RRIF to the non-registered investments as one ages), instead of the RRIF portion of the estate being taxed at 50% upon death. Note that this person has contributed the maximum yearly amount into their TFSA so there is no room left there.
—Andrea
Drawing down RRIF and estate taxes
Hey Andrea, this is a good question. In most cases I would say no. It’s not a good idea to draw extra money from your registered retirement income fund (RRIF) and invest it in a non-registered account just to pay less tax in your estate, unless your goal is to pay less tax. That may sound like a contradiction, but I’ll explain that.
Before I give you my thoughts, I have to ask: What is your real goal? Is it to have your estate pay less tax, or is it to maximize the amount of wealth you leave to your beneficiaries? If you want to minimize tax in the estate, you could leave it to charity or spend and/or give it away before you die…
