All about Retirement Planning in Canada. Learn the ins and outs and get the latest news.
Latest News
Investing tips for dual citizens of Canada and the U.S. + MORE Feb 3rd
Q. I am a dual Canadian/U.S. citizen. Due to this, I cannot make use of a TFSA, so once my RRSP is maxed out, I’m stuck with non-registered accounts. I plan on putting a large part of my savings into a U.S. robo-advisor or U.S.-listed ETFs. As for my RRSP, I was wondering whether I should foc.... More »
Why “unretirement” may be the fate of so many Canadians Mar 14th
The idea of “unretirement” seems to be making a comeback as more Canadians find themselves under economic stress. Even before the tariff threats emerged under Trump 2.0, seniors and near-retirees were finding the economic uncertainty and rising cost of living becoming uncomfortable. No surprise .... More »
Looking for reliable books and online resources on retirement? Here are a few + MORE Nov 4th
Q. Are there books or good self-help websites on retirement planning for Canadians that you can recommend? I live in Ontario and want to retire earlier than age 60 but I’m unsure how taxes will affect me when I can (and should) begin to draw down on my registered and non-registered savings. I’d .... More »
Making sense of the markets: Looking at 2025 + MORE Jan 3rd
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.
Can we make sense of the 2025 markets?
Stock market predictions rarely age well. (As you can read from our look at 2024..... More »
How does income from a rental property create RRSP contribution room? + MORE Jan 13th
Q. I understand that net rental income creates RRSP contribution room—so, even as a retiree, I should be able to accumulate additional RRSP room. Does foreign net rental income add to RRSP room?
When I do my Canadian taxes using tax preparation software, the reported net foreign rental income does.... More »
Reasons to tap RRSPs before age 71
– moneysense.ca
Q: If you are self-employed and have a holding company, does it not make sense to use your RRSP funds before 71 and then opt for funds from your holding company after?
—Tom
A: You’ve asked a good question and you’ve already got your answer, Tom, but I’m going to help validate why it makes sense to use RRSP funds before age 71.
For reader clarification, a “holding company” is a term for a corporation that holds investments and is no longer an active operating business.
I think taking RRSP withdrawals before 71 makes sense for far more Canadians than those who actually take early withdrawals, Tom. I feel it’s wise to pursue strategies that can help you pay less tax over your lifetime rather than just focusing on what saves you the most tax this year.
Ask a Planner: Leave your question for Jason Heath »
An RRSP must be used to either buy an annuity or be converted to a RRIF by age 71 – a RRIF being the most common choice – and both options require minimum payments each year after that…
A breakthrough strategy: How to make TFSAs a retirement-income tool
– theglobeandmail.com
A breakthrough strategy to use these versatile accounts to pay yourself in retirement offers simplicity – and new levels of tax freedom
One huge cost to factor into retirement plans
– moneysense.ca
Canadian seniors look to the health care system in the United States – currently under attack from the Trump administration – and breathe a sigh of relief about our universal health care system.
We can count our blessings, relatively speaking, but that doesn’t mean health care costs – including eldercare, nursing homes and the like – won’t be a significant out-of-pocket expense in our golden years.
A recent conference on this topic sponsored by Toronto-based TriDelta Financial drove this point home. A majority of seniors or soon-to-be retirees are concerned whether their finances will be able to stretch far enough to cover serious future health issues. According to Healthcare “Navigator” Virginia Miles, owner of Compass Health Care Solutions, 33% of Canadians are “very concerned” and another 39% are “somewhat concerned” about their ability to meet future healthcare expenses.
We can count our blessings, relatively speaking, but that doesn’t mean health care costs – including eldercare, nursing homes and the like – won’t be a significant out-of-pocket expense in our golden years.
A recent conference on this topic sponsored by Toronto-based TriDelta Financial drove this point home. A majority of seniors or soon-to-be retirees are concerned whether their finances will be able to stretch far enough to cover serious future health issues. According to Healthcare “Navigator” Virginia Miles, owner of Compass Health Care Solutions, 33% of Canadians are “very concerned” and another 39% are “somewhat concerned” about their ability to meet future healthcare expenses.
Read more of “Retired Money” column
Furthermore, 81% find our health care system to be too complicated and 78% find navigating the system a challenge…
