Stewardship is a Luxury For many Canadians earning minimum wage, stewardship feels like a luxury word. It belongs to the vocabulary of the wealthy, people with disposable income, not those just trying to get through the month. Imagine a single parent working multiple part-time jobs without benefits,...
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When Life Hits Harder Than Expected At age 25, I was diagnosed with chronic kidney disease. Three decades later, I started peritoneal dialysis, followed by a kidney transplant from a living donor at age 57. In between, I underwent surgeries for my gall bladder (2007) and...
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The Unexpected Problem The RRSP (Registered Retirement Savings Plan) has long been considered a cornerstone of Canadian retirement savings. It offers tax deductions now, tax-deferred growth, and (presumably) lower taxes in retirement. It's often described as a “no-brainer” for Canadians who want to retire comfortably. On the...
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The Problem of No Pension Benefits Hannah’s Exciting Start At 24, Hannah has just graduated with a master’s degree, specializing in Information Systems and Design. She’s landed a job in the tech sector in Toronto, earning a solid salary of $85,000 per year. The Missing Piece While the job...
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Tax Planning is Important Taxes may not be the first thing on a young person’s mind, but neglecting tax planning early in life can lead to missed savings opportunities and financial inefficiencies. Many Generation Zed* (hereafter GenZ) individuals: Overpay taxes by not taking advantage of available credits...
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The Problem Nobody Sees Nearly 200,000 pension plan members in Ontario alone are “missing,” leaving $3.6 billion in unclaimed assets, according to a report from the National Institute on Ageing.* Who are these “missing pension plan members”? They are individuals entitled to pension benefits but disconnected from...
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The Income and Wealth Gap The Context An unattached Canadian is a person not in an “economic family,” that is, a person living either alone or with others to whom he or she is unrelated, such as roommates or a lodger. Unattached Canadians are a growing demographic...
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The Canada Pension Plan (CPP) is often debated, with some Canadians feeling that it unfairly penalizes those who die before they can fully collect its benefits. Critics of CPP argue that mandatory contributions, when considering the possibility of early death, result in a system where...
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Meet John and Jane Jane and John are a couple in their early thirties. They own a townhouse in a suburb outside of Toronto. Although the commute is a bit of a burden, their jobs as an architect and software developer, respectively, allow them to work...
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The Canadian Retirement Dilemma As a matter of public policy, Canada has built several safety nets to help mitigate poverty for retirees. Among the most well-known are the Canada Pension Plan (CPP) and Old Age Security (OAS). Lesser known, but available to lower-income Canadians is the...
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