Retirement planning getting you down? There are always smart ways to plan the financial aspects of your retirement.
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When should you start taking CPP? Take it too early or too late and you could sell yourself short + MORE Dec 16th
Age 65 is considered the “standard” age for beginning both CPP and OAS, but you can start taking CPP any time between ages 60 and 70 and you can start OAS any time between 65 and 70..... More »
How does a spousal RRSP withdrawal work? Feb 8th
I bought a spousal RRSP in December 2019 and I plan to withdraw from it this week. Is it considered to be my income or my spousal income? I called CRA four times but no one could answer this question for me.—Tom
Spousal RRSP withdrawal rules: Timing matters
Tom, the rules around the ti.... More »
What is the CPP Survivor’s Pension? How can Canadians claim this benefit? + MORE Feb 15th
Ask MoneySense
My wife passed away, and I heard about the survivor’s pension. Can you tell me more about this benefit and how to receive it?—Kevin
What is the CPP Survivor’s Pension?
Thanks for your email, Kevin. Losing a spouse or common-law partner is one of the most challenging e.... More »
Making sense of the markets this week: July 12, 2021 Jul 13th
Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.
How to be a millionaire
I’ve often said that becoming a millionaire should be achievable—if you have a decent wage, manage your debt, get cash-flow-positive and invest in .... More »
RRSP or TFSA? Here’s the simple and definitive answer Jan 20th
Should you save for retirement in an RRSP or a TFSA? For many high earners, an RRSP is your best bet, writes David Aston.... More »
Can you make a transfer from an RESP to a spouse’s RRSP?
– moneysense.ca
Q. I have an RESP account that I plan to wind down—and I have very little RRSP contribution room, but my wife has quite a lot. I just read this article you wrote for MoneySense about transferring money from an RESP to an RRSP. I thought it was permissible for a subscriber (that would be me in this case) to transfer accumulated income from an RESP to his spouse’s RSP account. Is there a reason you didn’t mention this option for transfers in your article?
–Ralph
A. Thanks for your question, Ralph. The important thing to remember about questions to Ask a Planner is that there may be nuances specific to that reader which make the answer you read online less applicable to your own situation.
In fact, this is an important consideration anytime you are doing online research for a personal finance matter. I have seen information on even government or bank websites that is incomplete, outdated or inaccurate. So, be careful about taking the information you find online as gospel—take it with a grain of salt…
–Ralph
A. Thanks for your question, Ralph. The important thing to remember about questions to Ask a Planner is that there may be nuances specific to that reader which make the answer you read online less applicable to your own situation.
In fact, this is an important consideration anytime you are doing online research for a personal finance matter. I have seen information on even government or bank websites that is incomplete, outdated or inaccurate. So, be careful about taking the information you find online as gospel—take it with a grain of salt…
