All posts for Personal Finance

Top 5: 2020 Year-End Tips

While the deadline for filing your taxes is still months away, the 2020 year-end is only weeks away, and most strategies discussed in this post would have to be implemented before December 31st in order to effective for the 2020 tax year. Let’s take a look at our top 5 tax saving tips and strategies.   Make your RESP contributions. […]

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DC Pension Options: Your Retirement

Question. I’m planning to retire next year and wondering about my pension. I have been with the same employer for about 25 years, and have a defined contribution (DC) pension plan. What are my options when I retire?   Answer. That’s a great question, and a very important decision regarding your retirement. While retirement with a defined benefit (DB) pension […]

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CERB and Taxes

Question. Like many other Canadians, I have been affected by COVID-19 and the corresponding economic shutdown. I have been receiving Canada Emergency Response Benefit (CERB) payments for the last few months, and wondering if there are any tax implications?   Answer. As we know, the Canada Emergency Response Benefit (CERB) is designed to provide financial support to both employed and […]

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Annuities – Top 3 Advantages and Disadvantages

In our previous article, An Annuity: Should You Consider One?, we explored such items as: Basics of annuities Different types of annuities Key retirement risks Annuities for retirement income In this post, we continue our discussion of annuities. In particular, we explore the key advantages and disadvantages of annuities, to help you decide whether or not an annuity is suitable for […]

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Mortgage Deferral Options During Coronavirus

Question. Our family has been financially impacted by the shutdown due to COVID-19, and we are really having trouble making ends meet. I noticed recently that banks are offering people the option to defer their mortgage payments for a while. Is this something I should do? Are there any negative consequences? Answer. These are definitely challenging and unprecedented times. Many […]

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