Guiding you along your financial journey
In our previous blog post, we discussed several roadblocks to retirement. In far too many instances, those roadblocks prevent Canadians from achieving the comfortable retirement they desire. In this post, we shift our attention to what happens after we retire, and some of the more common pitfalls that plague Canadian investors in retirement. Let’s explore ModernAdvisor’s “Top 3 Retirement Traps”. […]
A spousal RRSP is not just for retirement planning – it can also be a great tax planning tool. Given the high level of taxation in Canada, tax savings should always be a priority for Canadian investors. Proper tax planning involves making the most of any potential tax savings strategies available to you. First and foremost, although the official terminology […]
Many Canadians approaching retirement wonder if they should share their CPP retirement pensions. While this may be advantageous for some, it’s not always the best choice for all. First and foremost, in order to be eligible to share your CPP pensions, you must currently be married or in a common law relationship. Single individuals, as well as those who were […]
There are many issues to consider when contemplating the decision to become self-employed. Your access to government programs, including Canada Pension Plan (CPP) and Employment Insurance (EI), are important considerations for anyone moving to a self-employment structure. Let’s take a quick look at both CPP and EI, and highlight the key differences for employees and self-employed individuals. Canada Pension Plan […]
In our last post, we discussed in-kind contributions. Many investors, who are otherwise unable to make a TFSA and RRSP contributions, may be able to contribute existing non-registered investments to their RRSP accounts, thereby getting a tax deduction in the process. However, it’s important to be careful of a couple of potential tax traps when making in-kind contributions – superficial […]
While many investors have good intentions of making TFSA and RRSP contributions, the unfortunate reality is that the cash required to make a meaningful contribution isn’t always available. What can you do? If you want to make a contribution to your TFSA and RRSP this year, but don’t have the cash available, you can use some of the investments in […]
Welcome to 2021! We all know how challenging it can be to stay on top of ever-changing facts and figures in the field of personal finance. To help kick-off the New Year, we have compiled a short list of key 2021 facts and figures to keep in mind for the new year. TFSA Limit The 2021 TFSA limit remains at $6,000, […]
Question. Hi, I keep hearing about RRSPs in the news lately, and I know the contribution deadline is getting close. I’m wondering if should contribute to my RRSP this year, and if so, how can I figure out how much to contribute? Do you have any advice or suggestions for me? Answer. Indeed, it’s that time of year again, […]
