Posts by Jason Heath
Planning For Retirement With Little Or No Savings To Draw On
The article “Planning for retirement with little or no savings to draw on” was originally published in MoneySense on October 26, 2022, reposted March 20, 2024. Photo by by RomoloTavani from Getty Images. Financial planning advice is often catered to wealthier Canadians. What can retirement look like for those without healthy RRSPs or other savings?…
Read MoreWhat will your income be in retirement? The answer goes well beyond investment returns
The article “What will your income be in retirement?” The answer goes well beyond investment returns” was originally published in Financial Post on March 11, 2024. Photo by by Creativa Images. You may have more money coming in than you think. Jason Heath lists the potential sources. The financial industry sometimes overlooks the significant differences…
Read MoreRRIF and LIF withdrawal rates: Everything you need to know
The article “RRIF and LIF withdrawal rates: Everything you need to know” was originally published in MoneySense on March 6, 2024. Photo by by fizkes from Getty Images. Most registered retirement savings plans are eventually converted to registered retirement income funds. Here’s what to know about RRIF withdrawals. At some point, a registered retirement savings plan…
Read MoreHow to qualify for EI benefits in retirement in Canada
The article “How to qualify for EI benefits in retirement in Canada” was originally published in MoneySense on February 19, 2024. Photo by designer491 from Getty Images Just because you paid loads into a program doesn’t mean you’ll get EI benefits when you retire Ask MoneySense I’m a 75-year-old male, working part-time and contributing to EI…
Read MoreRetirement math you need to know, from how long you’ll live to deferring CPP
The article “Retirement math you need to know, from how long you’ll live to deferring CPP” was originally published in Financial Post February 5, 2024, by Jason Heath. Photo by Junior Bastos of Pexels. Jason Heath: Go beyond how much you need to save with this surprising math. It is important to know your numbers…
Read More6 retirement strategies that don’t get talked about enough
The article “6 retirement strategies that don’t get talked about enough” was originally published in Financial Post November 15, 2023, by Jason Heath. Photo by AndreyPopov from Getty Images. Jason Heath: These alternative strategies can help you achieve the best retirement possible. Retirement is the pinnacle of most Canadians’ financial plans. But the financial industry’s emphasis…
Read MoreThese tips can help you avoid financial pain amid the emotions of losing a spouse
The article “These tips can help you avoid financial pain amid the emotions of losing a spouse” was originally published in Financial Post October 11, 2023, by Jason Heath. Photo by T Leish from Pexels. Advance planning and avoiding major decisions until after the mourning period are among the keys to navigating hard times. The…
Read MoreShould You Use Home Equity To Buy A House For Your Kids?
The article “Should you use home equity to buy a house for your kids?” was originally published in MoneySense on October 6, 2023. Photo by najkhetsamtip. Some parents want to help their kids move out by borrowing against their home. Here’s how interest rates and estate planning might impact that idea. “My husband and I…
Read MoreHow To Report U.S. Employment Income In Canada
The article “How to report U.S. employment income in Canada” was originally published in MoneySense on September 25, 2023. Photo by gerenme from Getty Images Signature. Canadian citizens who work in the U.S. have to meet Canadian and U.S. tax filing requirements. Here’s what to know about the rules, including getting a foreign tax credit.…
Read MoreDo You Need Mortgage Life Insurance?
The article “Do you need mortgage life insurance?” was originally published in MoneySense on September 22, 2023. Photo by Mikhail Nilov from Pexels. Mortgage protection can be a good idea, if for instance you have a condition or illness that might make it difficult to get insurance otherwise. “I am a single, 70-year-old with a…
Read MoreWho Should Canadians Consult For Debt Advice?
The article “Who should Canadians consult for debt advice?” was originally published in MoneySense on September 18, 2023. Photo by vaeenma from Getty Images. With debt servicing costs up significantly over the past year, many Canadians are struggling and need help. Who can they trust? Canadians who need help with debt management can seek out…
Read MoreWhat To Know About Withholding Tax In Retirement
The article “What to know about withholding tax in retirement” was originally published in MoneySense on September 11, 2023. Photo by Andrii Dodonov from Getty Images. Most retirees have taxes owing at the end of the year. Should you adjust the withholding tax on your pension as to not owe too much nor have to…
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