Connect with us
[ad_1] A 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...
[ad_1] But just because you’re on a tight budget doesn’t mean you’re stuck with your dated décor and dysfunctional layout. There are options, even for those...
[ad_1] The impact of your marginal tax rate It’s important to clarify, Ken, that if you have a minimum RRIF withdrawal with no tax withheld, that...
[ad_1] RESP contributions and withdrawals Registered education savings plans (RESPs) are used to save for a child’s post-secondary education. Contributing to an RESP can give you...
[ad_1] If the RRIF is not set up this way, there will be immediate tax consequences, and the estate wishes of your husband may not play...
[ad_1] Many Canadian employers see DB plans, where retirees receive a guaranteed payout every month (sometimes indexed to inflation), as too expensive. And while the average...
[ad_1] There is a spousal attribution rule with spousal RRSPs that applies if you take withdrawals within three years of your spouse contributing. This may result...
[ad_1] The difficulties facing newcomers to Canada with respect to retirement planning are particularly acute. Given how Canada’s immigration points system works, economic immigrants are usually...
[ad_1] Retirement OAS payment dates in 2024, and more to know about Old Age Security Here’s how Canada’s Old Age Security pension program works, who’s eligible...
[ad_1] “If someone’s not lucky enough to have a company pension, it’s that much more crucial for them to be building up savings on their own,”...
[ad_1] Working as a financial planner, I am often asked, “What is the most tax-efficient way to draw down on investments?” From the outset, I question...
[ad_1] For example, for income year 2023, the threshold amount is $86,912. If your income in 2023 was $120,000, then your repayment would be 15% of...
[ad_1] It’s not as big a problem as you might think. The key is to try to mimic the pay-yourself-first approach by setting up an automatic...
[ad_1] “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...
[ad_1] Here, we’re focusing on splitting pension income, which can include income sources that are not from traditional pensions. Can you split your income? Here’s a...
[ad_1] About the Canada Pension Plan (CPP) The Canada Pension Plan is a retirement pension that offers replacement income once a person retires from working life....
[ad_1] All the while, you’ve got a serious case of FOMO every time you check social media—all those friends who are jetting off on lavish vacations,...
[ad_1] Die Broke is the book where I first encountered the colourful quip about how the last cheque you write should be to your undertaker, and...
[ad_1] Canada Pension Plan (CPP) deferral: CPP deferral is worth considering for any healthy senior in their 60s. If you live well into your 80s, you...
[ad_1] Man looking at taxes from his social security Deciding when to take Social Security benefits is one of the most important questions to answer in...