Should You Move in Retirement?
March 11, 2019
Many people look forward to retiring, and going to live beside a golf course, on the coast, or somewhere else where they have always dreamt of. It’s enticing to think
Many people look forward to retiring, and going to live beside a golf course, on the coast, or somewhere else where they have always dreamt of. It’s enticing to think
Introduced in 1957, the Registered Retirement Savings Plan (RRSP) is an incentive program to entice the Canadian population to save for retirement. In order to get the most from this
A few years ago, when the federal government restored the OAS eligibility age back to 65, many Canadians breathed a sigh of relief. When eligibility changes were originally implemented they
Statistics Canada recently reported the ratio of household credit market debt to disposable income reached the highest level since the agency began tracking this figure. In 1990 it was 50%,
I am continually amazed at the number of people, who have high incomes and savings, that fail to take full advantage of the preferential tax treatment of RRSPs versus other
You have probably heard about the old 70 percent rule that suggests retirees will need the equivalent of about 70 percent of their current income level to maintain their lifestyle
The conversation with clients about retirement income planning is much different from those conversations that occur over the years while they are building retirement assets using vehicles such as pensions,
Canadian couples rely upon Government pensions, CPP and Old Age Security (OAS) for a significant portion of their total retirement income planning, which can equal 20% to 50% or more,
Being such a new program, many Canadians do not fully understand the long-term power of the TFSA tax savings opportunities. It is much more than just an opportunity for saving
As Joe Farnsworth* from Toronto discovered, published return percentages do not necessarily tell the whole story of an investment portfolio performance. Joe retired 9 years ago from the Toronto Police
With the lifetime contribution room of a TFSA now at $52,000 for most people, TFSAs are now a serious portfolio and investment planning alternative to making RRSP contributions. So which
Since its inception several decades ago, the Registered Retirement Savings Plan (RRSP) has become the most widely used retirement savings vehicle in Canada. In order to get the most from
Choosing a retirement location can be a stressful experience, especially when you combine your own questions with the pressures you might be receiving from loved ones to live near them.
Let us discuss a scenario that faces a high number of retirees and soon-to-be-retirees all over the country. You have spent years saving for your retirement and you have made
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
One of the top retirement goals for many is travel. As many as 1.5 million so called “snowbirds” travel to the Southern United States during the winter. With summer just
Since their introduction in 1957 as an incentive to save for retirement, Registered Retirement Savings Plans (RRSPs) have evolved into the most popular savings vehicles in Canada. All too often,
Maureen, age 20, figures she can save $400 each month; or she can keep frittering it away at the mall. She lives with her parents and they think she should
Convert RRSPs to income – Roger and Sarah, retired for several years, have delayed taking income from their RRSPs so they could enjoy the tax deferred growth as long as
For years, you have been anticipating that last day at work. When it finally arrives, will it live up to your expectations? Retirement looks different in everyone’s imagination. For
Retirement used to mean a gold watch, a pension and spending time on hobbies or new pastimes. For some this may still be true, but times have changed and there
Most people list tax elimination or minimization as a top priority in their estate plans. For most, Registered Savings Plans (RSPs), which includes RRSPs and RRIFs, are one of their
Gordon and Anne lived in the same house for over 30 years. Now that their children are grown and it was becoming more difficult for them to manage the house,
With the RRSP contribution deadline of March 2nd fast approaching many people will reflexively make a deposit to their RRSP. Many will use online banking to throw money into the
In this, the final installment of the series, Financial Strategies Simplified, we take a look at how to stretch your retirement income no matter how modest the starting balance.
The so-called RRSP Season is on its way. TV, newspapers and magazines will soon be full of advertising to get you to make your last-minute RRSP deposits. And then RRSPs
It is that time of year again when attention turns to RRSPs and tax planning. This year’s contribution deadline is March 3rd, 2014 if you want to deduct the contribution
Tax Free Savings Accounts (TFSAs) were introduced in 2009 and they seem to be struggling to catch on. Registered Retirement Savings Plans (RRSPs), however, have been around for over fifty
With so many doom & gloom news headlines, it is refreshing to know Canadians can still get very low fixed rate mortgages. A recent Financial Post article (March 9, 2012)
On May 25, 2009 Finance Canada announced some proposed changes to how Canada Pension Plan will work. If approved, the changes will take effect over a period of time
