Retirement planning getting you down? There are always smart ways to plan the financial aspects of your retirement.
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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 »
Financial independence and travel: Can you have both? + MORE Apr 25th
In February and early March, as is increasingly our custom, my wife Ruth and I spent five weeks in a sunny clime in order to avoid the tail end of Canada’s winter. On our return from Malta, regular guest blogger Devin Partida contributed a relevant article titled “Can you pursue financial indepe.... More »
How to confirm your CPP pension + MORE Apr 11th
How do I know if I’m receiving the correct amount of CPP?
—Flora
Most people who work in Canada between ages 18 and 65 will have some entitlement to the Canada Pension Plan (CPP). Employees and their employers make payroll contributions to the pension. Self-employed people contribute the.... More »
Do you actually need a financial advisor in your 30s and 40s? May 9th
At some point, most Canadians are told they need a financial advisor. But is hiring one really necessary when you’re in your 30s and 40s, or can it wait until you’re closer to retirement?
Like a lot of financial advice, the answer depends on your personal circumstances; it’s less about yo.... More »
When to consider extra RRIF withdrawals
– moneysense.ca
I am in my 91st year and for my age, in reasonably good health. I drew down a significant extra sum in 2025 from my RRIF. Fortunately, due to some good earlier decisions, my RRIF remains with a very strong market value. I use this drawdown for two purposes: to reinvest in my non-registered accounts, and also to pass money to my three adult children (tax free in their hands). My TFSA is maximized and my income is such that I no longer qualify for OAS.
Would you please comment on this strategy?
—Robert
A lot of people hope to say they are reasonably healthy at age 81, let alone 91, Robert. I should trade you my financial advice for your longevity advice. I can address some of the considerations here for you and for other readers.
Minimum RRIF withdrawals
There are minimum required withdrawals from a registered retirement income fund (RRIF) each year. If you convert your registered retirement savings plan (RRSP) to a RRIF at age 71, for example, your withdrawals at age 72 must be at least 5…
