First-time home buyers can use RRSP funds to top up their down payment Now that the Bank of Canada has cut its benchmark interest rate to 0.5%, it looks like mortgage rates will also fall. But the government may try to head off a real estate market bubble by...
How to make your nestegg last through retirement How much should I withdraw every year from my investment portfolio so it will last through my retirement? This is a problem all Baby Boomers are wrestling with. Many high net-worth investors wish to maintain a...
It’s not too late, provided you follow five basic rules Q – My husband and I are in our mid-40s, with two teenage children. We now own our home free and clear. Because we’ve been diligent about paying off our mortgage, with bi-weekly payments and annual...
To contribute or not to contribute? That’s the question Registered Retirement Savings Plans (RRSPs) are effective investment vehicles for deferring tax. But should you contribute to a Tax-Free Savings Account (TFSA) instead because of the completely tax-free growth...
Yes, there’s still time to make an RRSP contribution Every year around this time, I’m asked what the deadline for RRSP contributions is and what would be the best investment for that contribution by people who have left their RRSP contribution to the last minute or...
Or should you be even more cautious? Canadian bonds have been on a tear these past few weeks. Yes, bond prices climb as yields fall, and the Bank of Canada’s surprise interest rate cut on Jan. 14 helped goose Canadian bond prices. In fact, a good proxy for the...
What you need to know for RRSP success Should you contribute to a Registered Retirement Savings Plans (RRSPs)? With Tax-Free Savings Accounts (TFSAs) becoming more popular, there’s a fierce debate among the experts on the relative merits of each type of account....
Don’t set impossible financial goals The New Year is a great time for making resolutions and for taking control of your finances. Easy to say, but not so easy to do! When you resolve something vague like, “I promise to spend less in 2015,” that’s a resolution that...
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...
…And why a refund isn’t a good thing in the first place If you filed a tax return in April, by now, you’ll have received a Notice of Assessment from the Canada Revenue Agency. Sometimes it’s accompanied by a tax refund cheque. If it’s substantial, it might even...
Not the pristine, risk-free investments you thought they were As RRSP season rapidly draws to a close (the deadline for contributions eligible for a 2013 tax deduction is March 3), I’ve been fielding plenty of questions about investments for an RRSP. One that...
You may have more than you think “I don’t have any money!” Sound familiar? That’s the reason most often cited for not contributing to a Registered Retirement Savings Plan. And it does seem like a problem, especially if you’re living paycheque to paycheque (and...