Question. I’ve been fairly diligent about saving, and have contributed to my RRSP every year. I’m not ready to retire just yet, but I do plan to retire within the next few years. I guess after all these years of saving, I hadn’t really thought much about it, but now I’m wondering, what happens to my RRSP after I retire? […]
Question. Hi, I guess it’s that time of year again because I keep hearing about RRSPs these days. I know it’s important, and I know I should contribute to mine. And I want to, but I just don’t have the cash available. I feel like I’m neglecting my RRSP and want to be more responsible, but it always seems to […]
‘Tis the season! RRSP season, that is. Time to get ready for the media’s annual dose of advertisements about saving for retirement. While we all need to be smart about planning for retirement, the reality is that there are a lot of myths and misconceptions about the RRSP – Canada’s most popular retirement savings plan. Rather than focus on a […]
1. What is a RRIF? So you’ve been contributing to your RRSP for many years and are now ready to retire. What do you do with your RRSP now? That is where RRIFs come in. RRIFs (Registered Retirement Income Funds) are basically the successor to RRSPs. You can convert some or all of an RRSP to a RRIF at any time, […]
Most people know the biggest advantage of using an RRSP is the tax savings. But do you know how to maximize that refund? Or choose when a TFSA might be better? We break it down so you can make those decisions in minutes. Below is a table of the income tax brackets (applicable to BC). Since ModernAdvisor is based in […]
