Robyn Thompson is regularly featured in The Toronto Star’s “Money Makeover” series by Deanne Gage. This month, Money Makeover takes a look at Charlotte, a single public relations professional in her mid-forties who is planning on retiring in 20 years. She says she...
Robyn Thompson is regularly featured in The Toronto Star’s “Money Makeover” series by Deanne Gage. Money Makeover takes a look at Mary Lou, a 65-year-old widow with a portfolio valued at more than $1 million. She is uncertain about how much income to withdraw...
You must act by Dec. 31! If you turned 71 this year, and you still have an RRSP, you have until Dec. 31 this year to convert it into another type of tax-sheltered plan. If you don’t, the Canada Revenue Agency can take away up to half of whatever is in your RRSP....
Five key money questions to ask before you retire The Baby-Boom generation is getting ready to retire. It’s a big concern and a big issue, simply because that generation has been the dominant demographic since the late ’60s. And now they’re starting to feel the...
Ideal for professionals, executives, business owners Looking for ways to enhance your retirement savings beyond a Registered Retirement Savings Plan (RRSP)? If you don’t already have a pension plan through your employer, and you’re a business owner or executive, or...
Robyn Thompson is regularly featured in The Toronto Star’s “Money Makeover” series by Deanne Gage. Money Makeover takes a look at Joanne, divorced with 4 children. Joanne has limited savings and some leftover debt, but with her children leaving the nest, she can...
Here’s what you can contribute to get a tax deduction We’ve heard much about the Trudeau Liberal government’s rollback of Tax-Free Savings Account contribution limits. We’ve haven’t heard so much about Registered Retirement Savings Plans (RRSPs). And that’s a good...
Robyn Thompson is regularly featured in The Toronto Star’s “Money Makeover” series by Deanne Gage. Money Makeover takes a look at Zachary and Diana, both 50; and five years ago, Diana was diagnosed with multiple sclerosis. The couple worries about their future once...
Time’s running out for these 4 financial strategies It’s already getting rather late in the year to set up financial strategies that will have a tax-saving or other impact for 2015. However, there are a number of items you can attend to before the year is out,...
Robyn Thompson is regularly featured in The Toronto Star’s “Money Makeover” series by Deanne Gage. Money Makeover takes a look at how Mike and Constance can juggle their dreams for a home, a family and the...
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...
“Pensionize” your retirement income Will you outlive your money? That’s the big question a lot of pre-retirees are asking. I am a firm believer in “pensioning your retirement income,” which means creating a secure stream of income from a variety of sources that...