There are plenty of retirement plan options in Canada! Stay on top of the best plans right here.
Latest News
“I took a break from Bay Street to co-write a musical”: Myron Genyk on his money values and getting financially cut off at 20 Jun 1st
Who is Myron Genyk? As the CEO and co-founder of Evermore Capital, a Canadian asset management company, he introduced target date exchange-traded funds (ETF) for those with retirement goals from 2025 to 2060. With over 15 years of Bay Street experience, Myron has worked at BlackRock Canada and Natio.... More »
How to deal with your finances when the economy is stressing you out + MORE Mar 7th
Who would have thought that just a few month ago, all we had to “worry” about was the ongoing pandemic, high interest and inflation rates, and high grocery and housing costs. We’re three months into 2025 and so far we’ve had tariffs on Canadian goods threatened in February, then actual tarif.... 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 »
How much has the pandemic hurt your retirement plans? We delve into the retirement portfolios of two couples hit hard by COVID-19 to see what damage was done + MORE Feb 16th
We start with Deborah and Daryl Burton, a Toronto twosome in their early 70s who both contracted COVID-19 early in the pandemic..... More »
Slashing debt is Canadians’ number one priority in 2018 + MORE Dec 30th
TORONTO — Canadians are keen to lighten their debt loads in 2018, according to an annual opinion survey conducted for CIBC.
The Toronto-based bank says debt reduction or elimination was the top priority for 25 per cent of the poll respondents.
Paying bills or just getting by .... More »
The reality behind two RRSP myths: Mayers
– thestar.com
RRSPs are a great idea, but many think the refund is a windfall that makes them wealthier. It doesn’t.RBC reports RRSP receipt mix-up for some clients
– theglobeandmail.com
The bank said that it is in the process of reaching out to affected clients and providing them with corrected receipts, as well giving them additional security monitoring at no charge
RRSP Do’s and Don’ts for 2016
– rhondasherwood.com
Registered Retirement Savings Plans (RRSPs) are an important part of your overall financial strategy. They allow you to invest money that will grow on a tax-free basis until it is withdrawn. To get the most out of this type of financial vehicle, you need to understand its features and benefits. To make it easier for you to follow, I’ve compiled some RRSP Do’s and Don’ts for 2016.
RRSP Do’s and Don’ts for 2016
DO make the maximum contribution, if possible.
For 2015, the maximum amount you can contribute to your RRSP is 18 percent of your earned income or $24,930, whichever is less minus your pension adjustment plus your past unused contribution room. By contributing the maximum amount each year, you will have a higher amount of savings in your plan, more money in retirement and potentially a good size tax rebate.
DO make your annual contribution at the beginning of each year.
By making your annual contribution early, you are taking advantage of the benefit of compound interest…
Fewer Canadians planning RRSP contributions this year
– moneysense.ca
TORONTO – The percentage of Canadians who plan on contributing to their RRSP before the deadline at the end of next month is down slightly from last year, according to a poll issued by the Bank of Montreal.
However, the survey found that those who have already contributed and those who are still planning to add to their retirement savings are putting aside a little more than last year.
Of the Canadians surveyed, 61 per cent of those not yet retired said they would be making a contribution to their RRSP, down from 64 per cent a year ago.
How I’m preparing for retirement in a bear market »
But the average contribution for those who have already contributed was $3,984, up from $3,738 last year.
And among those planning to contribute, the average amount was $3,327, up from $2,892 a year ago.
The deadline to contribute to an RRSP for the 2015 tax year is Feb. 29.
The poll, conducted by Pollara for the Bank of Montreal, was based on an online sample of 2,177 adults between Dec. 30, 2015, and Jan…
However, the survey found that those who have already contributed and those who are still planning to add to their retirement savings are putting aside a little more than last year.
Of the Canadians surveyed, 61 per cent of those not yet retired said they would be making a contribution to their RRSP, down from 64 per cent a year ago.
How I’m preparing for retirement in a bear market »
But the average contribution for those who have already contributed was $3,984, up from $3,738 last year.
And among those planning to contribute, the average amount was $3,327, up from $2,892 a year ago.
The deadline to contribute to an RRSP for the 2015 tax year is Feb. 29.
The poll, conducted by Pollara for the Bank of Montreal, was based on an online sample of 2,177 adults between Dec. 30, 2015, and Jan…
Worldwide market turmoil a painful lesson for those close to retirement about importance of balancing risk in portfolios
