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”. […]
Enjoying a comfortable retirement is common goal for most all Canadians. As such, a retirement savings strategy is a key element of most any comprehensive financial and retirement plan. To assist us, there are countless financial advisors, retirement planners, and online tools and resources available to help us determine how much we should save in order to reach our retirement […]
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 […]
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 […]
Question. I have been diligent in investing my TFSA and RRSP accounts over the years. I would like to retire in the next 10 years or so, but I’m not sure if I will have enough saved by then. Can you tell me, how much savings I should have in order to retire? Answer. That’s a great question, but nearly […]
Question. I’ve heard that the CPP is changing. Is it? To be honest, I don’t really understand the CPP, or the change. But I hear some people saying it’s good, and others saying it’s bad. Can you tell me more about the changes and how they might affect me? Answer. Yes, as of January 2019, the Canada Pension Plan (CPP) […]
Question. I’ve been working with the same employer for about 7 years, and I’m a member of the company pension plan. A few weeks ago I applied for a position at another firm, and was just recently offered the new job. It’s a significant increase in pay and seems like a great position, so I intend to move forward with […]
