My first full-time job did not have any benefits. I am aware that in certain careers, a lack of an employer-sponsored retirement saving benefit is the norm, whether a Defined Benefit pension, plan, Defined Contribution pension plan, Group RRSP, or Deferred Profit-Sharing Plan. Nevertheless, for...
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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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It should be understood that investing can be challenging. In this case, I’m not talking about the process of investing, the purchase of a mutual fund or Exchange-Traded Fund (ETF). Rather, I am referring to the uncertainty, the inevitable fluctuations in the prices of the...
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The image above, posted on Flickr, is of a Hina Matsuri display, the Doll Festival, held in Japan on March 3 every year. On this day, families with girls wish their daughters a successful and happy life. March 3, 2025 also happens to be the...
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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: Sequence Risk Meets Longevity Risk David and Marie are a 65-year-old married couple preparing for retirement. With $1 million spread across Defined Contribution (DC) pensions, RRSPs, TFSAs, and non-registered accounts, they feel a quiet contentment about reaching this financial milestone. However, recent events have...
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In the YouTube video A Day in the Life of a Financial Advisor – Funny or Truth, a woman sits down with a financial advisor, unknowingly burdened with misconceptions and a dose of naïveté about personal finance. Her questions and concerns provide a helpful reflection...
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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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Matthew and Nicole, both 35, are eager to start a family next year. They’re financially comfortable, with a combined gross income averaging $240,000—but there’s a twist. Matthew’s income fluctuates based on bonuses and sales revenue, leaving them with somewhat unpredictable income. On top of that,...
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