The Magic Number!
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, RRSPs, LIRA’s, TFSAs and so on. Often, their focus is on being “conservative” because their understanding from public sources suggest that this is the appropriate […]
Government Pensions and Retirement Planning
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, of their actual or projected total retirement incomes. Corporate and personal pensions (such as RRSPs and TFSAs and other savings) are other sources of retirement […]
Making the Most of Your TFSA
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 — it can be a powerful and incredibly effective tool for an overall investment strategy. Here are some ways that you can use the TFSA […]
Investment Risk in Retirement Years
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 Service from which he collects a serviceable pension each month. When Joe retired he decided to try investing his life savings ($300,000) on his […]
RRSP Vs. TFSA: Which is Better?
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 is better you ask? Well, it depends… If you are a Canadian with significant assets and savings then maximizing your TFSA makes sense as […]
Getting the Most from your RRSP
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 an RRSP, it is essential to plan ahead for future investments to avoid panicked deadline decisions or taking action without fully understanding the long-term impact. […]
Selecting the Right Retirement Destination
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. Here are ten tips to help ensure that your retired life is as wonderful as it can be. Questions about the perfect […]
RRSP Income Options
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 smart decisions about using the power of RRSPs to accumulate a significant nest egg. But now you’re unsure about how best to get income […]
Retirement Savings Late Starter?
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 a house much larger than they truly needed. To accomplish this lifestyle, they put off retirement savings. Now in their forties, Harry and Sally are […]
Traveling in Retirement
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 around the corner, thoughts turn to travel within our borders, too. The Canada Safety Council states that a few simple precautions can help ensure a […]