Registered Retirement Savings Plans (RRSPs) can be a way to save for the retirement lifestyle you want. However, there are RRSP pitfalls that have financial consequences that you definitely want to avoid when planning for this time in your life.
Now that RRSP season is in full swing, if you haven’t made your 2015 contribution, you should be making plans to look after this important financial task. The deadline is set for February 29, 2016. Before you make your decision about your contribution, here are some key facts about your RRSP you should know.
Registered Retirement Savings Plans (RRSPs) are an important part of your overall financial strategy. They allow you to invest money that will grow on a tax-free basis until it is withdrawn. To get the most out of this type of financial vehicle, you need to understand its features and benefits. To make it easier for […]
Under the federal government’s rules, you can decide to start collecting Canada Pension Plan (CPP) benefits as early as age 60. One of the factors to consider as you get closer to the age when you can receive your pension is your overall health. You may have to leave the paid workforce earlier than you […]
The start of a New Year is the time to make resolutions to get organized and generally do things better. This year the weather patterns are unusual due to the influence of El Niño. Some parts of the country are bracing for above-normal temperatures, while others are at higher risk for ice storms. What would […]
Do you want to improve your financial health in 2016? Start by ensuring these three essentials are in place.
As the last days of 2015 wind down and we look forward to spending time with friends and family over the Holiday Season, our thoughts may not necessarily be focused on financial planning. The truth is that we should always be vigilant about our money matters. Will you use the countdown to 2016 to review […]
One option you can consider to free up some much-needed cash to fund a comfortable retirement is to sell your house. This can make good financial sense on paper, but the decision is not as simple as simply contacting real estate agent and putting a sign on the lawn.
If you are like a number of Canadians who are either at or close to retirement age, a significant portion of your net worth is tied to your home. For many of us, owning our own home is a symbol of success. We remember the first house we bought, the years of forced saving which […]
If you are at or close to the age where you are planning to retire, you may be concerned about whether you will be able to generate enough income to give you the lifestyle you want. Being aware of the 5 key risks to your retirement income and making sure that you are protecting yourself […]