How retirees can use TFSAs to save on tax + MORE Nov 25th

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 retirement savings

In Your Corner: My house is my retirement plan. Am I doomed? + MORE Aug 24th

Owning a home is a great investment but we all should have other investments socked away for retirement — ideally inside a Registered Retirement Savings Plan (RRSP), says this week’s expert..... More »
 cpp

“Why do I need a financial plan?” + MORE Jan 12th

Q. I am in my early 50s, have a steady job, I’m not a big spender, and I make RRSP contributions. Why would I need a financial plan? I don’t see how it could help me. –Tom A. To answer your question (and it’s a good one!), let’s think about why people get a plan, the benefits of having a p.... More »
 rrsp

Why Canada must simplify the tax code + MORE Feb 24th

Aaron Wudrick is the federal director of the Canadian Taxpayers’ Federation. Are you paying all the tax you’re legally required to pay—and if not, is that okay? That’s the question at the heart of the controversy over offshore tax havens, whereby mostly wealthy individuals structure their fi.... More »

How to maximize your last-minute RRSP contribution + MORE Jan 26th

Mark your calendars: the deadline for Registered Retirement Savings Plan (RRSP) contributions for the 2020 tax year is March 1, 2021. But before you rush to deposit your money in a GIC or high-interest RRSP savings account at a local bank and call it a win, you should know there are other options th.... More »
 retirement savings

Making sense of the markets this week: October 15, 2023 + MORE Oct 19th

Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors. Clearly, the biggest world news is the conflict in Israel and Gaza. This week we are holding off discussing the effects.... More »
MONTREAL — The federal and Quebec governments are under pressure to quickly commit funding for Montreal’s new $5.9-billion electric train project, which the Caisse de depot is promoting as a model for funding infrastructure projects.
Quebec’s pension fund manager has created an infrastructure subsidiary to oversee the construction and operation of the 67-kilometre network, which is to be ready for service by the end of 2020.
The Caisse is also contributing $3.1 billion and the city of Montreal is committing $100 million for the project. Ottawa and the province are being asked to split the remaining $2.7-billion estimated cost.
The project’s price increased by $400 million with Friday’s announcement of three new underground stations that will shorten travel times to the downtown core and relieve congestion on one of the city’s most congested subway lines.
The Caisse de depot’s president and CEO, Michael Sabia, says the network of electric trains is exactly the type of project that Ottawa should want to support as it spends more on infrastructure and aims to reduce greenhouse gas emissions…

Continue Reading On macleans.ca »

How retirees can use TFSAs to save on taxThe Tax-free Savings Account or TFSA is in my view the single most powerful investment tax shelter available to Canadian investors. Young people should move heaven or earth to maximize the annual $5,500 contribution as soon as they turn 18—even if they have to solicit a “matching” contribution from their parents.
For those who haven’t yet contributed, as of 2017 the cumulative TFSA room built up since the plan’s debut in 2009 will be $52,000, says KCM Wealth’s Adrian Mastracci.
Coupled with the newly expanded Canada Pension Plan, any millennials maxing their TFSAs from age 18 on will be well positioned for retirement by the time they reach the age cohort this column is aimed at.
For near-retirees and seniors already retired, the TFSA is still a potential game-changer, even though it came relatively late in the game for them. Fortunately, unlike RRSPs—to which you can no longer contribute after age 71—there is no such limitation for TFSAs. Even if you live past 100, each year you can keep adding the $5,500 come January, plus any inflation adjustments that may occur…

Continue Reading On moneysense.ca »

CTV NewsSuspect in fatal stabbing at French missionary home arrestedCTV NewsPARIS — Police on Friday arrested a suspect in the fatal knife attack on a woman at a retirement home for Catholic missionaries in southern France after a vast manhunt, authorities said. The 47-year-old suspect — with no apparent links to Islamist …Stabbing at French retirement home not terrorism, police sayCBC.caManhunt underway in France for masked gunman who stabbed woman to death at missionary residenceCalgary HeraldFormer French paratrooper charged with murder after storming retirement home for monks in FranceMirror.co.ukITV News -The Independent -NEWS.com.au -The Guardianall 146 news articles »

Continue Reading On Ctvnews.ca »

Quebec pension fund says it will raise its investment by $100-million to $3.1-billion; Montreal to invest $100-million

Continue Reading On theglobeandmail.com »

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