Corporate investments for retirees + MORE Feb 15th

How to go about securing the best Retirement Plan in Canada.
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How to be a better investor Mar 1st

For both beginner and experienced investors, focusing on a few basic guidelines can make the difference between good results and great ones. Whether you’re investing in a taxable account or a tax-sheltered account like a registered retirement savings plan (RRSP), doubling down on the basics can he.... More »
 retirement savings

Can you survive on Canada’s government pension alone in retirement? Experts say you might be surprised + MORE May 10th

Until fairly recently, CPP replaced a quarter of your average work earnings — but it’s already providing more. We asked experts what to do if CPP and OAS will make up most of your retirement income..... More »

Can a LIRA be transferred to an RRSP with no contribution room in Ontario? Aug 10th

Can 50% of my LIRA be transferred to my RRSP if I do not have contribution room in Ontario Canada? Is it better to transfer to an RRSP or RRIF if funds are not needed and are used for investment purposes?—Katherine How much can you transfer from a LIRA to an RRSP? Katherine, Ontario resident.... More »
 retirement savings plan

How financial advisors can help at different life stages + MORE Mar 23rd

When it comes to figuring out your finances and planning for the future, working with a pro can make this process easier. Canadians who feel hopeful about their financial future are more likely to be working with a financial professional, according to research by FP Canada.  Depending on you.... More »

What time of year should you retire? Sep 7th

Is there a better time of the year to retire based on tax implications: December 31 versus June 30 versus January 30? —Laf The best date to retire for tax purposes For most Canadians planning their retirement, tax isn’t the primary factor, Laf. However, there are instances when tax can com.... More »
I’m not using my Canadian corporate company anymore. I’m 67, delaying CPP and OAS. I have $210K in my company that I need to take out. What is the best way to do this with minimal tax? 

My accountant is working with me but really doesn’t think it’s the best strategy. He has a three-year plan to take out $70K per year, but the tax implications of that are high. 

I also have money in my company in TD Direct Investing that I guess I would have to move into personal and that will trigger gains as well. My accountant has not talked about this. 

With so many older Canadians with small companies retiring, this might be a good subject. 


Corporate investments for retired small business owners

Thanks for your question, Carol. I agree that it is a good one that applies to a lot of retiring business owners who have cash or investments in their company or in a related investment holding company. 

The less cash or investments you have in a corporation, the more beneficial it may be to wind it down in a single year or over a couple years to simplify your financial affairs and reduce your ongoing accounting and legal costs…

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Should young Canadians plan for retirement? We make it make senseThis week, our question comes from Sophie, 22 who asks, “How can young people start planning for retirement, even if we are far from it?”

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The RRSP deadline is March 1: Should I borrow to make a contribution if I don’t have the money?Getting a loan for RRSP purposes can work out if it’s short-term, but it’s not ideal, experts say.

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