These accounts are designed for pension income When you leave an employer where you had a pension plan, the funds in the plan are transferred to a Locked-In Retirement Account. At times they may also be transferred into a locked-in RRSP. Essentially, these are a...
Making the pension decision is not so cut-and-dried The big question most retirees ask is whether they’ll outlive their money. As you age, healthcare costs rise, and the question of long-term care can become a problem. Will you be able to afford to stay in your...
Start planning now so you don’t outlive your nest egg The retirement planning conundrum never seems to change. It just gets more complicated. Ensuring sufficient income for retirement is now on the radar for every so-called Gen-Xer, and increasingly for Millennials...
Provincial regulations vary across Canada When you leave an employer, any pension money in a registered plan will be transferred to a Locked-In Retirement Account (LIRA), or Locked-In Retirement Savings Plan (LRSP). Those funds are “locked in” and not available for...
Where’s your retirement income hiding? Where will my retirement income come from? A worryingly large number of higher-tax-bracket individuals I talk to these days ask me that same question. After looking at their Canada Pension Plan payment, perhaps some employer...
Annuities are just one tool in your arsenal One of the first questions many of my high net worth clients ask me is whether they’ll outlive their money. Now, if someone comes to you with $500,000 to $1 million to manage, you’d think they’d be feeling pretty...
Locked-in retirement plans can hold a mortgage…but should they? If you roll over your pension into a self-directed locked-in retirement savings plan, you can invest the funds in pretty much the same qualified investments as in an RRSP. In some provinces, the list...