What retirees need to know about tax brackets for 2025 + MORE Dec 20th

Not sure how to make a retirement plan? Read on…
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CPP payment dates in 2026, and more to know about the Canada Pension Plan Jan 3rd

In Canada, most retirement plans include the Canada Pension Plan (CPP). Whether retirement is just around the corner or still years away, CPP is likely to form part of your retirement income. How much you receive depends on factors such as your earnings history, contributions, and when you start col.... More »
 registered retirement savings plan

What is the TFSA contribution limit in 2025? + MORE Feb 14th

The tax-free savings account (TFSA) is one of the best ways for Canadians to grow their money. This registered account (meaning that it’s registered with the federal government) offers tax-free growth and tax-free withdrawals—a one-two punch that no other Canadian registered account offers. U.... More »
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Is AI the ultimate retirement hack? Jun 13th

There’s an interesting new book just published called I Am Not a Robot: My Year Using AI to Do (Almost) Everything. The author is Joanna Stern, who was a personal technology columnist for the Wall Street Journal for 12 years. As the subtitle of her book reveals, she spent a year using ar.... More »
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How to stay the course with your retirement plan during market volatility + MORE Apr 11th

Three days of wild market volatility sparked by U.S. tariffs is enough to cause any investor stress, but for those in retirement, the plunge can be extra difficult.  Markets have taken a nosedive after U.S. President Donald Trump’s announcement of sweeping global tariffs last Wednesday (April .... More »
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Stock news: Canada’s big banks raise dividends after strong Q2 earnings May 30th

Here’s a round-up of news for Canadian investors this week. BMO National Bank Scotiabank CIBC TD Bank RBC Featured RRSP Accounts featured EQ Bank Build your retirement.... More »
What types of tax-free savings accounts (TFSAs) exist?A tax-free savings account (TFSA) is a fantastic way to earn money on your savings, without having to pay tax on those earnings. Registered by the federal government, TFSAs are available to Canadians aged 18 and older. Unlike a registered retirement savings plan (RRSP), you cannot deduct contributions to your TFSA from your income tax, so you will have to pay income tax on that initial money. But as long as you adhere to TFSA guidelines, you won’t pay taxes on any earnings made within the TFSA, not even when you withdraw it. Plus, you can withdraw as much as you want at any time.

There’s a specified limit to how much money you can put inside a TFSA. For 2024, the annual TFSA contribution limit is $7,000, and for 2025, it will be $7,000. As of Jan. 1, 2025, there is a lifetime maximum of $102,000 for those who were 18 or older as of 2009. The good part is that any unused contribution space and any amount that you withdraw from your TFSA becomes available to you as contribution room in the next calendar year…

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In our working lives and in our post-work retirement or semi-retirement phases, taxes are one of if not the single biggest expense. This hits home with the annual tax-filing deadline in April, but the time to start thinking about the yearly ordeal is before year-end.

The complexity of this task is compounded by almost-annual changes to tax brackets, the Basic Personal Amount (BPA), Old Age Security (OAS) thresholds, inflation adjustments and much more. 

For starters, I recommend reading an excellent article by CIBC Wealth’s tax guru Jamie Golombek. The column appeared in the Financial Post on November 23, shortly after the Canada Revenue Agency (CRA) released its new tax numbers for the year 2025.

Let’s start with inflation, the second serious scourge retirees face, if they live long enough. Here, a useful tool suggested by certified financial planner Morgan Ulmer is Statistics Canada’s Personal Inflation Calculator, which lets you compare your personal inflation rate to the general Consumer Price Index (CPI)…

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