In years gone by, many people sought a job that would provide the proverbial “gold-plated” pension plan, by which was meant a defined benefit pension, what one might refer to as a “true” pension. That is, once you retired, you would get guaranteed, possibly inflation-protected,...
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As sure as the snow will inevitably melt away in the spring, so will a portion of our income as it is paid to the Canada Revenue Agency. Many employed people will have overpaid their income taxes in the course of the year and are...
Read MoreIt’s “RRSP season” and once again there is a scramble among a substantial proportion of Canadians to put a 2021 contribution together by the March 1, 2022 deadline. If the cash is not available, the classic option has been to get an RRSP loan from...
Read MoreYou are a Canadian who has just returned to Canada after working for many years in the United States. In that time, you have accumulated assets in a 401(k), a traditional IRA, and a Roth IRA. In addition, you have children who were born in...
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Canada welcomes significant numbers of immigrants each year. However, many people choose to leave Canada for other countries, too. I have relatives and friends who live in the United States, Japan, and Australia, to name just three countries. I lived in Japan myself for a...
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As I wrote on my website, one of the major reasons I began to work in financial planning is because I saw multiple DIY portfolios that were not founded on any rational approach to investment planning. Many seemed to view investing as a variation on...
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You have been diligently saving for your retirement in your Registered Retirement Savings Plan (RRSP). However, after surveying your finances, needs, and opportunities, you decide that you need to withdraw some money from your RRSP. The RRSP is, as the name indicates, a savings plan. You...
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After a working career of three or four decades or more, you hope you have put away an adequate amount of money in your employer pension plan and/or your RRSP so that you can live an adequate lifestyle in retirement. You are concerned, however. Living...
Read MoreI have written before about retiring on a low income, in this blog post. Much of that post relied on the writing of John Stapleton, an expert on benefit programs for low-income earners, and a retired Ontario civil servant. Periodically, Stapleton makes live presentations via programs...
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Do you mean asset allocation? If you have read anything about setting up an investment portfolio, you have probably come across the term asset allocation. This term has to do with how you mix the various investment options at your disposal. For example, if you scan...
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