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Latest News
CREA wants parents to assist children with home purchase with their RRSPs + MORE Dec 2nd
VANCOUVER _ The federal government should allow parents who want to help their offspring with the purchase of a home to tap into their retirement savings, says The Canadian Real Estate Association, which also wants the maximum withdrawal limit bumped up by $10,000.
Extending the Home Buyers’ P.... More »
What’s my RRSP contribution limit for 2021? + MORE Jan 18th
If you’re like many Canadians, you’re hoping you’ve paid enough tax in 2021 and may even be looking forward to a hefty tax refund. (The deadline for filing this year is April 30, 2022, which is on a Saturday, by the way. So you actually have until May 2, 2022 to file.) You can help ensure that.... More »
Are you missing out on RRSP matching and more? Feb 28th
A registered retirement savings plan (RRSP) is a powerful retirement savings tool, yet many Canadians aren’t getting its full benefits. A lot of us are also missing out on RRSP matching and other incentives—essentially, free money—that could go a long way to funding a more comfortable retireme.... More »
Pension income splitting explained Jan 20th
Q:Â I am 62 years old and I receive a pension from my work. At the same time, I am still working part time. My question is can I split my pension with my husband who is 64 years old? He is retired with no pension from his work.
I would appreciate if you can educate me regarding income splitting.
â€.... More »
We have few assets. Can we skip having a will? + MORE Jun 3rd
Q: Ed, my husband and I do not have a will. We have no house but do have an RRSP, a little cash, and two children (ages 14 and 12). Should we have a will? If so, what type of will is acceptable/legal without seeing a lawyer, seeing that we do not have much in the way of assets.
—Pam
A: Pam, the .... More »
Retirement rethink: Find out where you’ll call home
– moneysense.ca
(monkeybusinessimages/iStock)Diane and Mike did what many retirees do. They sold their place in the city and downsized to a smaller, cheaper place out of town.  But in their case, cheaper actually means free.
The couple now lives in the guest apartment on a large acreage near Calgary. In exchange for free rent on a small one-bedroom apartment on the property, they spend the winter taking care of the horses and cats, and checking in on the main house. They will put those savings to good use this summer, spending three months travelling around Europe. It might sound like an absurd idea, especially for two former professionals with a sizeable nest egg. But they are thrilled with their simple, ultra low-cost life.
Housing is one of the biggest expenses you’ll need to pay in retirement. Even if you’re mortgage-free you’re still on the hook for utilities, taxes and maintenance. So as you think about what your life might look like when you’re no longer drawing a pay cheque, challenging your assumptions about where you live could really pay off…
