How to go about securing the best Retirement Plan in Canada.
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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 »
Where should working retirees put extra income: A TFSA or an RRSP? Jan 11th
Ask MoneySense
I will be receiving CPP and OAS as of June 2024. I intend on working one more year until I reach 66. My question is: Should I put all my CPP money into an RRSP to shelter it from tax? Or should I pay the tax on it and invest in a tax-free savings account?
–Gary
Where to put r.... More »
Stock news for investors: Retail stocks tumble despite strong earnings + MORE Jun 20th
Here’s a round-up of news for Canadian investors this week.
Reitmans
Gildan
Groupe Dynamite
Empire
Featured RRSP Accounts
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EQ Bank
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Best cash-alternative ETFs for Canadian investors 2026 + MORE May 2nd
If the only investment account you have is a registered retirement savings plan (RRSP), you probably don’t need to concern yourself with cash or cash-equivalent holdings. But let’s say you’re in the market for your first home and you’re saving up a down payment. You can’t afford to lose mo.... 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 »
Is the 4% Rule obsolete?
– moneysense.ca
Over the half decade I’ve written this column and attempted to practice what it preaches, a central pillar has been the so-called 4% Rule. As originally postulated by Certified Financial Planner and author William Bengen, that’s the rule of thumb that retirees can safely withdraw 4% of the value of their portfolio each year without fear of running out of money in retirement. (That’s the gist, although you have to make adjustments for inflation.)
Problem is, with “lower for longer” interest rates and the spectre of negative interest rates, is it still realistic for retirees to count on this guideline? Personally, I find it useful, even though I mentally take it down to 3% to adjust for my own pessimism about rates and optimism that I will live a long, healthy life. I polled several sources to see if they still believe in the 4% Rule, or whether a 3% or even 2% rule might be more appropriate now.
“I think the 4% Rule is a reasonable rule of thumb,” says financial planner Aaron Hector, vice-president of Calgary-based Doherty & Bryant Financial Consultants…
Problem is, with “lower for longer” interest rates and the spectre of negative interest rates, is it still realistic for retirees to count on this guideline? Personally, I find it useful, even though I mentally take it down to 3% to adjust for my own pessimism about rates and optimism that I will live a long, healthy life. I polled several sources to see if they still believe in the 4% Rule, or whether a 3% or even 2% rule might be more appropriate now.
“I think the 4% Rule is a reasonable rule of thumb,” says financial planner Aaron Hector, vice-president of Calgary-based Doherty & Bryant Financial Consultants…
Which savings plans should a 37-year-old with a military disability income contribute to, and when?
– moneysense.ca
Q. I am 37 with a military disability income that will pay monthly until I die. Could you give your advice on which savings plans I should be investing in, and the order in which I should make my investments?
To date, I contribute to my and my spouse’s registered disability savings plan (RDSP), then our TFSAs. When I max out these savings plans, should I contribute to a RRSP, or should I use an unregistered trading account?
–Jason
A. Structuring your cash flow so that you have more money coming in than going out is an important first step in the retirement planning process. But once you have that extra cash flow, deciding the best ways to allocate it is not always simple.
I would generally prioritize paying off high interest-rate debt like credit cards before saving, but I will assume that is not a consideration for you and your wife, Jason.
It sounds as though you both qualify for the disability tax credit (DTC), which is a requirement to open a registered disability savings plan (RDSP)…
To date, I contribute to my and my spouse’s registered disability savings plan (RDSP), then our TFSAs. When I max out these savings plans, should I contribute to a RRSP, or should I use an unregistered trading account?
–Jason
A. Structuring your cash flow so that you have more money coming in than going out is an important first step in the retirement planning process. But once you have that extra cash flow, deciding the best ways to allocate it is not always simple.
I would generally prioritize paying off high interest-rate debt like credit cards before saving, but I will assume that is not a consideration for you and your wife, Jason.
It sounds as though you both qualify for the disability tax credit (DTC), which is a requirement to open a registered disability savings plan (RDSP)…
