What you must do before Dec. 31 Registered Retirement Savings Plans do not last indefinitely. In fact, they must be closed down by the end of the year in which you turn 71. So if you are in that age group this year, you have until Dec. 31 to convert your RRSP into...
Coping with withdrawal risks and benefiting from RRIF rule changes The onset of the COVID-19 pandemic has thrown many retirement plans into disarray. The collapse of the stock market in March, volatility in bond prices, the crash of energy markets, and the shutdown...
Robyn Thompson is featured in BNN’s “The Open” with host John Erlichman, discussing how retirement planning is affected by the COVID-19 pandemic and what retirees (and those ready to retire) can do to protect their nest-egg and secure their income streams into the...
Three basic RRSP maturity options Unlike a Tax-Free Savings Account (TFSA), a Registered Retirement Savings Plan (RRSP) does not last forever. In fact, it has a specific date by which you must collapse the plan and choose one of three main options for what to do...
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....
Three ways to use your funds – and how they work Gen-Xers, Gen-Yers, and Millennials should all have RRSPs. Sadly, most do not. The smart ones do, and are taking advantage of the powerful long-term compounding and tax-sheltering benefits of this wonderful...