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The best RRSP investments 2022 Jan 11th
A registered retirement savings plan (RRSP) is an investment that is registered with the Canadian federal government. RRSPs are often described as being “tax-advantaged.” That means you don’t pay income tax on the amount you are contributing to an RRSP, in the year you earn that contribution. .... More »
Caisse to sell off remaining oil assets by next year - CBC.ca Sep 28th
Caisse to sell off remaining oil assets by next year CBC.caQuebec pension giant Caisse to exit remaining oil-producing assets, setting up $10-billion green fund The Globe and MailCaisse de dépôt to exit oil production by end of next year in new climate strategy Fin.... More »
2022 Income Tax: New tax credits for Canadians Nov 30th
It’s that time again… to get all your paperwork ready for tax season. We all know about having our T4 and registered retirement savings plan (RRSP) contribution statements ready, but what about the new tax credits for the 2022 tax filing season? What are they and how do they work? Don’t wo.... More »
Should you collect CPP and OAS while working in your 60s? Dec 7th
I have lived in Canada for 24 years and I’m 65 years old now. I am still working at a company making a $78,000 salary. Since my health condition is OK, I am going to continue to work for two to four years. My question is: In my situation, it is better for me to apply for OAS and CPP now or delay t.... More »
The one thing influencers Steph & Den want you to know about retirement + MORE Apr 26th
Financial influencer couple Steph Gordon and Dennis Mathu (@Steph & Den) started making YouTube videos about personal finance for Canadians in 2019. Once they found their groove on social media, they left their corporate jobs—Steph was in human capital at PricewaterhouseCoopers and Den was a c.... More »
Divorce over 50: managing your finances if you find yourself single in the run-up to retirement
– moneysense.ca
Divorce is certainly not new—but what’s emerging as a trend is the choice to split later in life. Dubbed grey divorce, these marital splits, happening close to or in retirement, are reportedly on the rise, and they can have a significant financial impact.
Married couples are generally subject to a division of their property when they split up. The rules differ slightly depending on your province or territory of residence, but for couples who have been married for a long time or who accumulated most of their assets while together, a relatively equal division may result.
There can be other considerations, however, like spousal or child support. Couples who are close to retirement or already retired may not have child support obligations, assuming their children are independent adults. Spousal support could still apply but may not be as significant as with a younger couple if one or both parties are near the end of their career or no longer working.
In some provinces or territories, common-law couples are treated the same as married couples, but that isn’t always the case…
Married couples are generally subject to a division of their property when they split up. The rules differ slightly depending on your province or territory of residence, but for couples who have been married for a long time or who accumulated most of their assets while together, a relatively equal division may result.
There can be other considerations, however, like spousal or child support. Couples who are close to retirement or already retired may not have child support obligations, assuming their children are independent adults. Spousal support could still apply but may not be as significant as with a younger couple if one or both parties are near the end of their career or no longer working.
In some provinces or territories, common-law couples are treated the same as married couples, but that isn’t always the case…
