Posts by Jason Heath
How To Choose A Retirement Date
The article “How To Choose A Retirement Date” was originally published on MoneySense on May 19, 2015. Don and his wife are worried that they will pay too much tax if they keep working and accumulating retirement savings Q: With $560,000 in RRSPs between my wife and I, $37,500 in TFSAs and another $120,000 in savings,…
Read MoreWhy Living Off Your Dividends In Retirement May Be A Mistake
The article “Why Living Off Your Dividends In Retirement May Be A Mistake” was originally published on The Financial Post on May 14, 2015. Many Canadians dream of amassing a retirement fortune that can carry them effortlessly through their golden years. It’s one thing to dream about it, but how do you actually do it? I warn…
Read MoreCapital Gains Tax: Selling Non-Registered Investments
The article “Capital Gains Tax: Selling Non-Registered Investments” was originally published on MoneySense on May 12, 2015. Sara’s fiancé is paying lots of tax on his non-registered investment income. And as time goes on, the tax to sell the investments continues to grow. What should he do? Q: My fiancé, 38, is a really good saver and…
Read MoreHow To Drain A RRIF
The article “How To Drain A RRIF” was originally published on MoneySense on May 5, 2015. Q: If one does not care to leave any RRIF capital for their heirs, one could spend and enjoy the RRIF returns and some capital every year until the capital is almost depleted by the expected age of 90. Is there anything…
Read MoreHow to Build a Simple Do-It-Yourself Investment Portfolio
The article “How to Build a Simple Do-It-Yourself Investment Portfolio” was originally published on The Financial Post on May 4, 2015. More and more investors are managing their own investments or considering doing so. A J.D. Power survey found an increase of more than 50-per-cent in do-it-yourself investors from 2012 to 2013 in Canada. The first step…
Read MoreScared to Spend Your Retirement Savings?
The article “Scared to Spend Your Retirement Savings?” was originally published on MoneySense on April 28, 2015. David is sitting pretty going into retirement but he’s reluctant to draw on his savings at all Q: I’m 56, have no debt, make about $78,000 a year and own my townhouse. I will have a small defined benefit pension…
Read MoreJoint Tenancy: How it Affects Capital Gains and Probate Fees
The article “Joint Tenancy: How it Affects Capital Gains and Probate Fees” was originally published on MoneySense on April 21, 2015. Kim did some estate planning with her mother to avoid capital gains tax and probate fees. But it only half-worked. Q: I have joint tenancy with my mother on two properties—a condo in Toronto and…
Read MoreFinancial Planner Without a Plan
The article “Financial Planner Without a Plan” was originally published on MoneySense on April 14, 2015. Despite having worked with several bank reps, George still doesn’t have a plan and it’s costing him dearly Q: I am a consultant and I am 62 years old. My wife is retired and is 60. I am intending on retiring…
Read MoreYou Spring-Clean Your House — Why Not Your Finances?
The article “You Spring-Clean Your House – Why Not Your Finances? Here’s How to Buff Up Your Budget” was originally published on The Financial Post on April 10, 2015. Here’s How to Buff Up Your Budget Many Canadians engage in regular spring cleaning rituals like checking fire alarms, rotating mattresses and planting gardens. They’re tedious and time-consuming…
Read MoreHow to Maximize Government Pensions
The article “How to Maximize Government Pensions” was originally published on MoneySense on April 7, 2015. The timing of when to begin CPP can be more art than science Q: I am 65 in November and have applied for my CPP. I am considering applying for OAS, but know a huge clawback will occur. My wife is…
Read MoreWhen Your Adviser Stops Caring
The article “When Your Adviser Stops Caring” was originally published on MoneySense on March 31, 2015. John had his adviser’s attention at first. Now it’s started to wane. What should he do now that he seems to have lost his adviser’s attention? Q: I have had the same investment adviser since 2009 after I received an…
Read MorePension Withdrawals: Lump-Sum vs. Deferred Payment
The article “Pension Withdrawals: Lump-Sum vs. Deferred Payment” was originally published on MoneySense on March 24, 2015. Bill is trying to make a choice between taking a lump-sum commuted value from his defined benefit pension or simply taking a monthly payment Q: I am about to make a decision on whether to take a lump-sum on…
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