Financial planner Robb Engen recently tackled this puzzle in his Boomer & Echo blog, “Why Canadians avoid one of retirement’s most misunderstood tools.” Engen notes that experts like Finance professor…
Read more Unlocking the Annuity Puzzle: Why Canadians avoid what seems to be the perfect retirement vehicle – MoneySenseA Canadian retiree’s main decision with this Sun Life product is the age they want the funds to last until (the maturity age). They can choose from 85,…
Read more What is Sun Life’s new decumulation product? – MoneySense“This leaves a total outstanding now of $204,939, with the interest owing being 25% of the balance owing after only five years,” says Ardrey. “As time goes on,…
Read more Why a reverse mortgage should be a last resort for Canadian retirees – MoneySenseUnless taxpayers make a request, there are no withholding taxes on the minimum RRIF withdrawal. This can result in the Canada Revenue Agency (CRA) requesting quarterly tax installments…
Read more How to cope with the RRSP-to-RRIF deadline in your early 70s – MoneySense“Mine is probably the only calculator that assumes one’s spending does not quite keep pace with inflation in our later years.” “My calculator is one of the few…
Read more What’s new in the latest edition of Retirement Income for Life? – MoneySenseIn other words, during the near-zero interest rates that prevailed until recently, investors wanting real inflation-adjusted returns had almost no choice but to embrace stocks. (Read more about TINA…
Read more Are GICs worth it for Canadian retirees? – MoneySenseRising RRSP contribution limits Inflation also influences RRSP maximum contribution savings limits. In 2021, the limit was $27,830. For 2024, it is $31,560, which is a difference of…
Read more Inflation a scourge for retirees? Ottawa’s silver lining(s) – MoneySenseNow, after a fair bit of research and a few interviews with experts on infinite banking, I feel I know enough to pass on the basics—plus what you…
Read more Infinite banking in Canada: Should you borrow from your life insurance policy? – MoneySenseAt $499, the course does represent a major investment, but the outlay could be considered a bargain if it helps some DIY retirees escape the clutches of conflicting…
Read more How to plan for retirement for Canadians: A review of Four Steps to a Worry-Free Retirement course – MoneySense
