Posts by Jason Heath
Meet The Budget’s New RRSP Strategy That Every Retiree Should Know About
The article “Meet The Budget’s New RRSP Strategy That Every Retiree Should Know About” was originally published in Financial Post on March 22, 2019. Called an ALDA, it and other annuities act as an insurance policy outliving your money As life expectancies have risen and interest rates have fallen, Canadians have become increasingly worried about outliving…
Read MoreHow To Avoid A Pension Clawback From A One-Time Event
The article “How To Avoid A Pension Clawback From A One-Time Event” was originally published on March 19, 2019. Mike wants to know what can be done to avoid a reduction in government pension income due to a one-time event. Q: Are you aware of the “one-time event” in the CPP and CRA regulation that avoids…
Read MoreThe Best Way To Transfer Investments To Your Spouse
The article “The Best Way To Transfer Investments To Your Spouse” was originally published on MoneySense on March 12, 2019. Dean has investments that he wants to transfer to his spouse. There are tax implications depending upon how the transfer occurs Q: Is there a way for me to transfer my mutual funds to my spouse…
Read MoreAfter Inheriting A RRIF Account, How To Know What You Owe The Taxman
The article “After Inheriting A RRIF Account, How To Know What You Owe The Taxman” was originally published on MoneySense on March 5, 2019. Randy’s wife is the beneficiary of her late mother’s RRIF, and she wants to avoid penalties and interest on the tax owing. Q: I’m wondering if there is a simple way to…
Read MoreShould Retirees Pay Off Their Mortgages With Investments?
The article “Should Retirees Pay Off Their Mortgages With Investments?” was originally published on MoneySense on February 25, 2019. Liz has just retired and wonders if she should use her investments to pay off her mortgage, despite her advisor’s advice to the contrary. Q: I retired this year and my mortgage is coming due soon. My…
Read MoreHow Does A LIRA Work After A Pension Transfer?
The article “How Does A LIRA Work After A Pension Transfer?” was originally published on MoneySense on February 20, 2019. Ted is confused about his investment options after leaving a DC pension, and whether his pension money would be better off in a regular RRSP. Q: I recently transferred my pension from Bombardier to Sun Life. I…
Read MoreWhat To Do When Banks Give Questionable Financial Advice To Seniors
The article “What To Do When Banks Give Questionable Financial Advice To Seniors” was originally published on MoneySense on February 12, 2019. Mel can’t get a straight answer from his bank about his investment fees and is looking for some input on investing late in retirement. Q: Do you have any advice for an 80-year old?…
Read MoreWhat It Takes To Retire At 45
The article “What It Takes To Retire At 45” was originally publishes on MoneySense on February 6, 2019. Konstantino is 27 and hopes to retire by 45. He wants to know how that impacts his RRSP versus TFSA savings strategy. Q: I’m 27 years old with a relatively healthy income of around $125,000. I’m aiming to…
Read MoreHow Early RRSP Withdrawals Can Help Some Retirees Come Out Ahead
The article “How Early RRSP Withdrawals Can Help Some Retirees Come Out Ahead” was originally published on Financial Post on January 29, 2019. Who knew? Too much tax deferral and saving too long can be bad things. Registered Retirement Savings Plans are the primary retirement savings tool for Canadians and at this time of year,…
Read MoreHow To Calculate Capital Gains Tax For An Employee Share Purchase Plan
The article “How To Calculate Capital Gains Tax For An Employee Share Purchase Plan” was originally published on MoneySense on January 29, 2019. Kelly is confused about how to calculate the capital gains tax on her company savings plan shares. Q: I have a large Employee Share Purchase Plan that I have participated in for a…
Read MoreHow Early RRSP Withdrawals Can Help Some Retirees Come Out Ahead
The article “How Early RRSP Withdrawals Can Help Some Retirees Come Out Ahead” was originally published on Financial Post on January 29, 2019. Who knew? Too much tax deferral and saving too long can be bad things. Registered Retirement Savings Plans are the primary retirement savings tool for Canadians and at this time of year,…
Read MoreGetting The Most Out Of Retirement Income Planning With An Older Spouse
The article “Getting The Most Out Of Retirement Income Planning With An Older Spouse” was originally published on MoneySense on January 22, 2019. Ellen is curious how pension income splitting works when there is a big age difference between spouses. There are several considerations. Q: When one spouse is older by 11 years, can this person…
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