The “Big Five” Canadian banks offer investment funds and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Let’s explore the best place for you to invest.
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The best TFSAs in Canada for 2026 + MORE Jan 30th
Featured TFSA Accounts
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EQ Bank TFSA Savings Account
Earn 1.50% tax-free on your cash savings.
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Stock news for investors: Spinoffs, acquisitions, and market moves Oct 2nd
Here’s a round-up of news for Canadian investors this week.
Maple Leaf Foods
TMX group
MEG Energy
Stella-Jones
Algoma Steel
Featured RRSP Accounts
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EQ Bank
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CPP payment dates in 2026, and more to know about the Canada Pension Plan + MORE Jan 2nd
In Canada, most retirement plans include the Canada Pension Plan (CPP). Whether retirement is just around the corner or still years away, CPP is likely to form part of your retirement income. How much you receive depends on factors such as your earnings history, contributions, and when you start col.... More »
'An insult': Wood manufacturer unimpressed by $12M investment in B.C. forestry in face of U.S. tariffs - CBC May 15th
'An insult': Wood manufacturer unimpressed by $12M investment in B.C. forestry in face of U.S. tariffs CBCSee more headlines & perspectives on Google News.... More »
Why healthy money conversations are key to building wealth together Jul 8th
When it comes to building wealth, most people focus on investments, debt levels, or market performance. But what if the real threat to your financial future isn’t any of those? According to Co-authors of Money Together, Heather and Douglas Boneparth, the biggest risk is hiding in plain sight: the .... More »
“We’re well off in retirement. How can we pay less tax?”
– moneysense.ca
Ask MoneySense
Both my wife and I are retired. My wife is 72 years old and I am 68. Our combined incomes are based on CPP, OAS, RRIFs and dividends (both from our non-registered investments portfolio and corporate dividends that we both get quarterly from a holding company that manages the corporate investments). We currently augment our cash flow from our non-registered accounts as needed, cashing some stocks and declaring the capital gains. We also donate on average $30K–$40K every year to our preferred charities.
Both my wife and I are retired. My wife is 72 years old and I am 68. Our combined incomes are based on CPP, OAS, RRIFs and dividends (both from our non-registered investments portfolio and corporate dividends that we both get quarterly from a holding company that manages the corporate investments). We currently augment our cash flow from our non-registered accounts as needed, cashing some stocks and declaring the capital gains. We also donate on average $30K–$40K every year to our preferred charities.
The challenge that we have every tax year is to come up with the optimum balance from a tax efficiency perspective. We can increase or decrease the corporate dividends, capital gains and RRIF payouts at least for the next several years.
Any general guidance or accepted strategies would be helpful. It’s a nice problem to have, but it would be helpful to hear from a professional.
—Mike
Hi Mike, congratulations on your financial success and your desire to give to charity…
