How to Minimize Tax Payable on your RRSP or RRIF When you Die

Your registered funds are an important financial asset, and it’s essential to understand what happens to them when you pass away. With proper estate planning there are ways that you can pass on your assets to your beneficiaries while determining how to minimize tax payable on your RRSP or RRIF.

A Reminder of RRSP Musts for 2015

To play any game, it is important to know the rules and how they may affect the outcome or result of the game. The last thing I would want to suggest is that planning for retirement is a game, but knowing how RRSP rules can affect your retirement planning is very important. It’s important to […]

Do you Have an Emergency Financial Plan in Place?

As they say, “Life happens when you’re busy making other plans” and it tends to cost money. Having enough money put aside for unexpected events make the difference between staying afloat or sinking financially. It’s important for you to make sure that you have an emergency financial plan in place. The sooner you can start […]

Happy New Year! What is your Financial Resolution for 2015?

What You Should Know About Retiring in Debt

While the ideal situation would be for all Canadians to be able to retire debt-free, a CIBC poll conducted in July 2012 found that nearly 60 percent of retired Canadians have some debt. Retired Canadians may hold less debt than people who are still in the workforce, but the more debt that you carry in […]

Is Age 65 the New 40?

At one point, we stopped working at age 65 and lived out our few remaining years in leisure (if we were one of the lucky ones who lived past 65). If you are 65 or older today, living to age 80 is not unrealistic. Have you given much thought to how you plan to spending […]

Women and Retirement Planning: Taking it One Step Further

  For the most part, women look forward to retirement as a complete lifestyle change. We may picture spending more of our time babysitting the grandkids or volunteering for organizations we care deeply about. Some of us may decide to take up a completely different type of employment or start our own business.

Moving from Employee to Retiree: How to Make your Pretax Dollars Stretch

Are you about to make the move from employee to retiree, which means going from a guaranteed salary to drawing down your savings and living off of pension income? If so, be prepared, as this tends to be a jarring time for most people. No longer will you be focused on accumulating your wealth but […]

Delaying OAS Payments: Good Idea for your Retirement?

Many people have questions and concerns about how delaying OAS payments will affect their retirement income. Not only will Canadians have to wait longer to receive Old Age Security (OAS) payments, but another change to the rules means that people who opt to start receiving payments later will receive a higher amount each month. Does […]

9 Questions to Think About when Planning your Retirement

If you’re like most people, you probably don’t have the time to assess your future retirement needs. However, with increasing life expectancies and concerns over the stability of our health care system and government/private pension plans, planning your retirement is a must.