Finance
In planning for retirement, worry about longevity rather than dying young – MoneySense
[ad_1] Or, as U.S. retirement guru Wade Pfau recently put it, “A retirement income plan should be based on planning to live, rather than…
Tag: RRIF
Finance
Making the most of the pension tax credit – MoneySense
[ad_1] Having said that, this tax credit is not a big deal for most people, and in some cases, you will be better off…
Finance
From RRSP to RRIF—managing your investments in retirement – MoneySense
[ad_1] When the time comes, RRSP, or registered retirement savings plan accounts, are converted to RRIF, or registered retirement income fund accounts, a change…
Finance
What’s more important: your wealth or your legacy? – MoneySense
[ad_1] Let’s dig into this by first understanding what will happen if your dad continues doing what he is doing and he doesn’t add…
Finance
How to plan for taxes in retirement in Canada – MoneySense
[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…
Finance
Year-end tax and financial planning considerations – MoneySense
[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…
Finance
What happens to a RRIF when the account owner dies? – MoneySense
[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…
Finance
How to consolidate your registered accounts for retirement income in Canada – MoneySense
[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…
Finance
Which savings should retirees draw down first? – MoneySense
[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,…
Finance
Should you hold gold in a RRIF? – MoneySense
[ad_1] Can you hold gold in a registered account? Gold is considered a qualified investment for registered accounts in Canada, Audrey. This means you…
Finance
“We’re set for life. Should we cash out an RRSP?” – MoneySense
[ad_1] Withdrawing from an RRSP before age 70 Are you thinking you’d like to withdraw everything from your RRSP before starting your OAS or…
Finance
Can you transfer a RRIF to a TFSA—and what are the tax implications? – MoneySense
[ad_1] Can you transfer a RRIF to a TFSA? A RRIF is a tax-deferred account. A TFSA is a tax-free account. So, you cannot…
Finance
RRIF withdrawal rates chart 2024 – MoneySense
[ad_1] The minimum age at which you can convert a registered retirement savings plan (RRSP) to a registered retirement income fund (RRIF) varies by…
Finance
Should you max out your RRSP before converting it to a RRIF? – MoneySense
[ad_1] I am guessing you have downsized your home to move to a condo and now have money to contribute more to your registered…
Finance
How to cope with the RRSP-to-RRIF deadline in your early 70s – MoneySense
[ad_1] Unless taxpayers make a request, there are no withholding taxes on the minimum RRIF withdrawal. This can result in the Canada Revenue Agency…
Finance
RRIF and LIF withdrawal rates: Everything you need to know – MoneySense
[ad_1] You do not have to wait until age 71 to convert your RRSP. Most people consider doing so once they have retired. RRIF…
Finance
What’s new in the latest edition of Retirement Income for Life? – MoneySense
[ad_1] “Mine is probably the only calculator that assumes one’s spending does not quite keep pace with inflation in our later years.” “My calculator…
Finance
RRIF withdrawals: What should seniors with million-dollar portfolios do? – MoneySense
[ad_1] Registered retirement income fund (RRIF) withdrawals are fully taxable and added to your income each year. You can leave a RRIF account to…