You may have heard about a young woman from Montreal who won a million-dollar lottery recently. Instead of selecting the lump sum, she elected the annuity option of $1,000 per week for life. From the little bit I read, most people were shocked at her choice:...
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Reform Is Not Just Technical; It Is Moral This blog post is inspired by an article in Canadian Affairs (December 2025) by John Stapleton and Peter Hicks. Stapleton is a recognized expert on low-income retirement, so his perspectives are worth attention. Retirement income reform is often framed...
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I. Introduction A. The RRIF transition milestone The conversion of your Registered Retirement Savings Plan (RRSP) to a Registered Retirement Income Fund (RRIF), which must occur not later than the year you turn 71, but can take place earlier, is a major retirement milestone. One of the notable...
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I came across a recent CTV News Consumer Alert article/video clip about taxes on the estate when the bulk of the deceased’s assets were held in a Registered Retirement Savings Plan (RRSP) and a principal residence that had been owned as a secondary property for...
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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 Canadians think about retirement, one recurring complaint is that “RRSPs aren’t fair.” The argument goes like this: you get a tax deduction when you contribute, and your savings grow tax-deferred, but then you’re forced to pay full tax when you take money out of...
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As summer winds down, many Canadian families are preparing their children for post-secondary education. For parents like Lisa and Jason, both 50 years old and living in Red Deer, Alberta, this means more than just shopping for residence supplies. It also means figuring out how...
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Over 25 years ago, I first learned about options trading. I never got around to implementing any such strategies for my accounts, but unexpectedly, I found myself in the investment industry, initially serving U.S. investors at a discount brokerage that had a contact centre here...
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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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