Is semi-retirement stressful? You bet—here’s what to do about it Jul 27th

All about Retirement Planning in Canada. Learn the ins and outs and get the latest news.
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Can you delay a RRIF withdrawal? Jun 6th

Ask MoneySense I read you can base your RRIF withdrawals on your wife’s age to minimize them. Can you please explain exactly what that means? My wife is seven years younger than me, and I am 68. I already have a small RRIF, set up for the pension benefit. When I hit 71, when I convert my RRSP to a.... More »
 canada pension plan

RRIF and LIF withdrawal rates: Everything you need to know Mar 7th

At some point, a registered retirement savings plan (RRSP) is typically converted to a registered retirement income fund (RRIF). The latest you can defer the conversion of your account is the end of the year you turn 71. This means that by December 31 of your 71st year, you need to either withdraw t.... More »
 retirement savings

The best RRSPs in Canada for 2024 + MORE May 2nd

RRSPs The best RRSPs in Canada for 2024 We’ve rounded up the best RRSP rates on savings accounts and GICs, as well as the best RRSP investment accounts. Compare now Tap the button for more details. .... 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 »

Financial hardship withdrawal exceptions and increasing income in retirement + MORE Apr 4th

Ask MoneySense I am in B.C., Canada. I moved my LIRA into a LIF two years ago. I have taken the maximum annual withdrawals for each year. I thought it’d be smart to start taking it. How can I get more out of it? I need the funds to help deal with bill payments. All my monthly i.... More »
One of my semi-retirement philosophies is that reducing stress can sometimes be more important than maximizing revenue. Assuming you’re self-employed in semi-retirement, as I am, you may find yourself juggling multiple clients and conflicting demands on your limited time and energy.

The topic of stress has come up a few times with my clients lately, as summer starts to give way to fall. Given the sporadic nature of freelancing, most freelance writers and suppliers know how hard it is to turn down paying work. I was like that in my first stint as a freelancer back in the 1980s, long before I achieved a modicum of financial independence.

This time around, though, I have the luxury of being able to pick and choose what I want to work on. Of course, if you say “no” too often, you run the danger of permanently losing the work to a hungrier (and likely younger) rival supplier. So, I may take on more work in the winter, but the summer is another matter. Any Canadian who dreads the long winter knows well how precious the time between spring and early fall can be…

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