The purpose of going through a planning process is to discover what is possible by playing out “what if” scenarios. Once you see a path that leads you…
Read more We’re 10 years apart. Can we retire together?Spousal beneficiary When a spouse inherits an IRA or 401(k), they can take over the account as an inherited account or transfer the account into their own IRA…
Read more What happens when you inherit an IRA or 401(k)?When my family and I moved to Canada seven years ago, we spent months driving through neighbourhoods trying to decide where we wanted to build our life. Every…
Read more What replacing my tires taught me about planning for retirement“The decline of defined benefit and contribution pension plans has fundamentally shifted the burden of retirement planning on to individuals in recent years,” Christine Van Cauwenberghe, head of…
Read more With pensions declining, Canadians must plan their own retirement – MoneySenseAs your financial needs change from early career to mid-life to pre-retirement to retirement itself, so, too, should the way you approach your investments. Setting foundations and leaning…
Read more A practical guide to investing at every life stage – MoneySenseNew TFSA contribution room Every Canadian resident aged 18 or older has $7,000 of new TFSA room as of January 1, 2026. This has been the annual maximum…
Read more Your TFSA reset for the new year – MoneySenseMany Canadians missed key goals A year ago, 51% of respondents to a similar poll said they wanted to pay off their debt in 2025 but only 26%…
Read more So you fell short of your financial goals in 2025—here’s how to do better – MoneySense1. Revisit your budget Budgets are a great tool to help you stay on track with your spending and savings goals, but they need regular updates to maximize…
Read more 5 money moves to make before the end of the year – MoneySenseWhen the time comes, RRSP, or registered retirement savings plan accounts, are converted to RRIF, or registered retirement income fund accounts, a change that needs to be made…
Read more From RRSP to RRIF—managing your investments in retirement – MoneySenseWhen should you keep contributing to your RRSP? If you have a group RRSP with matching contributions from your employer, this provides a significant boost to your savings.…
Read more Why late-career savers need to be careful with RRSPs – MoneySenseRESP 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 access to government…
Read more Year-end tax and financial planning considerations – MoneySenseMany Canadian employers see DB plans, where retirees receive a guaranteed payout every month (sometimes indexed to inflation), as too expensive. And while the average time spent working…
Read more What to do with a small pension in Canada – MoneySenseThere is a spousal attribution rule with spousal RRSPs that applies if you take withdrawals within three years of your spouse contributing. This may result in the withdrawals…
Read more How to consolidate your registered accounts for retirement income in Canada – MoneySenseInvestment Investment account Purchase price Sale price Gain Capital gains tax After-tax gains Bitcoin Non-registered $23,500 $61,000 $37,500 $3,750 $33,750 Bitcoin ETF TFSA $23,500 $61,000 $37,500 $0 $37,500…
Read more How to invest tax-free in a bitcoin ETF in Canada – MoneySenseThe 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 in their late…
Read more New to Canada and no pension: How to save for your retirement – MoneySenseRetirement 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 for OAS, when…
Read more How to plan for retirement when you have no pension – MoneySense“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,” says Millie Gormely,…
Read more How to manage as a single parent with no pension – MoneySenseWorking 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 if a decumulation…
Read more Which savings should retirees draw down first? – MoneySenseIt’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 contribution to your…
Read more 40 and no pension: What do you do? – MoneySenseHere, 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 quick table for…
Read more Which types of pension income can be split with your spouse in retirement? – MoneySense
