As individuals approach retirement, they must decide when to start receiving their Canada Pension Plan (CPP) payments. While the standard age to begin receiving CPP payments is 65, it is

Roger and Linda, like many Canadians, have saved for years for their retirement. They took advantage of RRSPs and now have a substantial amount of savings. As Roger will turn

Retirement is a significant life event that requires careful planning and preparation. One of the most important aspects of retirement planning is figuring out how to generate income during your

Harry and Sally both earned high incomes and liked to live the good life. They leased higher end European cars, took two-week exotic vacations almost every year, and lived in

According to a 2022 survey,1 only 35% of Canadians aged 50 and older feel they’re financially ready to retire. Sixty-two percent report being unprepared or unsure if they have the

Once again, it is that time of year when Canadians turn their attention to make their tax-deductible pension contributions to their RRSP. The word “pension” is used deliberately to emphasize

For many nearing retirement, lifestyle choices become more significant in determining their comfort level for the rest of their lives. They must decide whether it is better to make some

When you’re going on a journey, there are three essential questions to ensure you have a great trip. How will I get there? How much will it cost? How will

During the past several months, a few clients have expressed concerns about world events and the potential impact on their investments. Concerns cited have included the ongoing Russia-Ukraine war, rising

With the turbulent times we have been experiencing in the markets, more people are considering annuities to ensure a certain income in their retirement years. It might not suit everybody

An important retirement planning skill is having the ability to “sniff out” the future direction of various factors, such as inflation and interest rates for their potential impact on future

If you’re in your 50s, and thinking about your financial future makes you anxious, you’re not alone. 70% of Canadians are worried they won’t have enough money to retire1. While

Registered Retirement Income Funds (RRIFs) are one method of drawing an income from Registered Retirement Savings Plans (RRSPs) in retirement. There are a few things to consider to get the

As the pandemic slowly recedes, work-life balance trends emerge. A recent Angus Reid survey revealed that 19% of Canadians would quit or look for a new job if required to

Recessions, stock-market declines, housing market bubbles, joblessness and, most recently, a global pandemic have created a series of challenges for people trying to start, grow or maintain a retirement savings

If you’ve been contributing to a pension or Registered Retirement Savings Plan (RRSP) and retirement or your 71st birthday is around the corner, you’re required to convert that nest egg

It appears that while many Canadians faithfully invest funds into their workplace retirement plans they are somewhat lackadaisical when it comes to determining their retirement needs as well as measuring

If any good can come from an economic downturn it is that people are forced to think more seriously about their financial success strategy. Many people affected by the economic

If you apply on your 60th birthday, you’ll get about 36% less of the age 65 monthly pension. But, if you wait until you’re 70, you’ll get about 42% more.

We are all familiar with the following perennial adage: “health is wealth”. Regardless of any financial circumstances you may have, optimum health allows you to enjoy long trips overseas, partake

A recent media headline marveled at how far TFSAs have come and how they are catching up to RRSPs as a preferred investment vehicle for Canadians. Often however, this choice

There are a number of common RRSP strategies that many of us use on a regular basis. These include making regular monthly deposits, borrowing to make RRSP contributions and making

The following are relatively common mistakes that Canadians make annually when contributing to their Registered Retirement Savings Plans.   1. Reporting RRSP contributions based on a calendar year.   While

A survey conducted by a big bank some years ago* revealed that over 30% of Canadians were hoping for a lottery win to help fund their retirement. This raises the

After spending likely 15 – 30 years focused on building an investment portfolio, it can be quite a challenge to switch gears when it comes time to withdrawing income from

The age old saying, ‘Ignorance is bliss’, may apply to many things in life. However, when it comes to your finances, ignorance can be absolutely devastating. Even the government is

It is required by the Income Tax Act that a Registered Retirement Savings Plan (RRSP) must be closed by the end of the year in which the planholder (annuitant) reaches

Grant and Sarah are planning on retiring within the next two years. Paul and Linda, already retired, are thinking about making a move. Whether you are about to retire or