Here is a collection of articles we have published so you can stay informed!
Moving To The U.S.? Here’s What To Do With Your Canadian Investments
The article "Moving To The U.S.? Here’s What To Do With Your Canadian Investments" was originally published on MoneySense on June 26, 2019. Set to start a new job south of the border, Justin will need to consider that registered and non-registered accounts are treated...
When It Comes To Your Financial Plan, Think Process, Not Product
The article "When It Comes To Your Financial Plan, Think Process, Not Product" was originally published on Financial Post on June 19, 2019. Jason Heath: A financial plan is more than a one-time event, and it certainly shouldn't exist solely in your head The “financial...
The Bank Of Grandma And Grandpa
The article "The Bank Of Grandma And Grandpa" was originally published on MoneySense on June 12, 2019. Sol wants to contribute to his grandkids’ future with annual gifts he’ll start now. What’s the best way to manage the money outside of RESPs? Q. I’d like to start...
“Will My Hard-Working Teen Have To Pay Tax On Withdrawals From Our Family RESP?”
The article “Will My Hard-Working Teen Have To Pay Tax On Withdrawals From Our Family RESP?” was originally published on MoneySense on June 5, 2019. Scott is wondering how to split Registered Education Savings Plan funds between his children to minimize the tax...
What To Do With A Monetary Advance On Your Inheritance
The article "What To Do With A Monetary Advance On Your Inheritance" was originally published on MoneySense on May 28, 2019. Maureen’s husband wants to put a $200,000 gift from her parents toward their mortgage, but she isn’t convinced. Q. My amazing parents are...
Why Saving Too Much For Retirement Is Just As Risky As Saving Too Little
The article "Why Saving Too Much For Retirement Is Just As Risky As Saving Too Little" was originally published on Financial Post on May 22, 2019. Only 20 per cent of 65-year old Canadians will live for 30 years — and that means their money will far outlive them...
Can Canadian Seniors Collect Government Benefits While Still Working?
The article "Can Canadian Seniors Collect Government Benefits While Still Working?" was originally published on MoneySense on May 21, 2019. Rose is transitioning to semi-retirement at 65, and wonders about the tax and clawback implications of receiving CPP and OAS....
Advice On Making Your First Home More Affordable
The article "Advice On Making Your First Home More Affordable" was originally published on MoneySense on May 14, 2019. Irene and her partner want to buy a house with savings, some help from her dad and a mortgage from an alternative lender. What are the implications?...
Avoiding Future Interest Is One Way To Look At Your Return On Investment
The article "Avoiding Future Interest Is One Way To Look At Your Return On Investment" was originally posted on MoneySense on May 7, 2019. Should Vince cash out his medical pension to pay down his mortgage, or keep it as an indexed $400 per month for life? Q. I’m 47...
Tax Implications Of Making Transfers Between Registered Accounts
The article "Tax Implications Of Making Transfers Between Registered Accounts" was originally published on MoneySense on April 30, 2019. Suzanne transferred money from her LIRA to a LIF and her RRSP. Now she worries she’ll be taxed twice. Q. I had a locked-in pension,...
How To Handle Death Inside A Joint Investment Account
The article "How To Handle Death Inside A Joint Investment Account" was originally published on MoneySense on April 23, 2019. After Vee’s father passed away, her advisor made some transactions that she’s now questioning. Q. My father had two investment accounts open...
For Common-Law Couples, Estate Planning Is Full Of Pitfalls. Here’s How To Avoid Some Of Them.
The article "For Common-Law Couples, Estate Planning Is Full Of Pitfalls. Here's How To Avoid Some Of Them" was originally published on Financial Post on April 16, 2019. Couples who are common-law can have a unique set of financial planning challenges that differ from...
How To Calculate Capital Gains And Losses On Rental Property
The article "How To Calculate Capital Gains And Losses On Rental Property" was originally published on MoneySense on April 16, 2019. Chris’s rental property used to be his principal residence. After enduring some bad tenants, he’s looking to sell. Q. I am selling my...
An Easy Guide To Income Splitting For Seniors
The article "An Easy Guide To Income Splitting For Seniors" was originally published on MoneySense on April 10, 2019. Cindy and her husband are looking for strategies to help them save on taxes in retirement. Q. My husband and I are both retired. He still has income...
The Ins And Outs Of Tax And Estate Planning For A RRIF
The article "The Ins And Outs Of Tax And Estate Planning For A RRIF" was originally published on MoneySense on April 3, 2019. 81-year old Lydia wants to minimize tax and maximize the estate value of her RRIF on death. Q: I’m 81, single, female, with around $265,000 in...
Can I Have A Multi-Generational RESP?
The article "Can I Have A Multi-Generational RESP?" was originally published on MoneySense on March 26, 2019. If money is left over in your child's RESP you can in theory use it for your future grandkid's education, with some big caveats Q: I have an existing RESP for...
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...
How 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 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...
After 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....
Should 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...
How 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....
What 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...
What 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...
How 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...
How 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...
How 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...
Getting 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...
The Real Reason People Fail To Save Enough For Retirement — And What You Can Do To Limit The Damage
The article "The Real Reason People Fail To Save Enough For Retirement — And What You Can Do To Limit The Damage" was originally published on Financial Post on January 16, 2019. Procrastination may not be the biggest impediment to saving enough While there are...
Disability, Income Splitting and Tax Reduction
The article "Disability, Income Splitting and Tax Reduction" was originally published on MoneySense on January 15, 2019. Rob’s wife is unable to work due to a chronic illness. He’s trying to plan for tax reduction in retirement on their registered accounts. Q: My wife...
Why It’s Still Worth It For High-Income Seniors To Apply For OAS
The article "Why It’s Still Worth It For High-Income Seniors To Apply For OAS" was originally published on MoneySense on January 8, 2019. Eileen is worried about the adverse impact on her taxes if she applies for OAS, and wonders if she should still apply. Q: I am 70...
The Limits of Old Age Security Survivor Benefits
The article "The Limits of Old Age Security Survivor Benefits" was originally published on MoneySense on January 2, 2019. Lillian lost her husband and wants to know what happens to his Old Age Security pension. Q: My husband died in 2015 at the age of 56. He would...
What’s The Best Time To Transfer A TFSA Between Institutions?
The article "What’s The Best Time To Transfer A TFSA Between Institutions?" was originally published on MoneySense on December 27, 2018. Sandie wants to get the timing of her TFSA transfer right If you decide to change institutions for your TFSA, when is the best...
Why Retirement Planning Needs To Be A Major Political Issue In 2019 And Beyond
The article "Why Retirement Planning Needs To Be A Major Political Issue In 2019 And Beyond" was originally published on Financial Post on December 20, 2018. Jason Heath: Baby boomers are causing a shift in demographics; retirement policies need to reflect this...
The Downside Of Naming Children As RRIF Beneficiaries
The article "The Downside Of Naming Children As RRIF Beneficiaries" was originally published on MoneySense on December 18, 2018. Kerry is doing some estate planning with his RRIF and wants to make sure it goes to his wife and kids in the best possible manner....
Can You Transfer Your Full Pension Into An RRSP?
The article "Can You Transfer Your Full Pension Into An RRSP?" was originally published on MoneySense on December 11, 2018. Margaret wants to know how to avoid losing some of her pension if she transfers it into an RRSP at retirement. Q: I would like to know if you...
RRIFs And Income Splitting In The Year Of Death
The article "RRIFs And Income Splitting In The Year Of Death" was originally published on MoneySense on December 4, 2018. Gloria’s husband died recently. She’s looking for clarification on what happens with his RRIF and if and how she can split income with him in his...
RESPs and Canadian Non-Residency
The article "RESPs and Canadian Non-Residency" was originally published on MoneySense on November 27, 2018. Cara and her family are becoming non-residents of Canada. They want to know what this means for their RESP account. Q: We are moving overseas to New Zealand....
Why You Need To Understand Risk And Uncertainty When Planning For Retirement
The article "Why You Need To Understand Risk And Uncertainty When Planning For Retirement" was originally published on FinancialPost on November 20, 2018. The longer the forecast period, the less reliable a financial plan will be. Just one reason not to create a...
Selling Your Home To Your Kids – For $1
The article "Selling Your Home To Your Kids - For $1" was originally published on MoneySense on November 20, 2018. You need to consider if the savings for your child are worth the risk to you Q: I want to pass my principal residence where my son and I live to my son...
Bleeding Your RRSP Dry To Save On Tax When You’re Dead
The article "Bleeding Your RRSP Dry To Save On Tax When You’re Dead" was originally published on MoneySense on November 13, 2018. Chris is retiring and living on CPP, OAS and her RRSP. She wonders if she should take more than the minimum withdrawal from her RRSP to...
Leaving An Inheritance For Your Grandchildren
The article "Leaving An Inheritance For Your Grandchildren" was originally published on MoneySense on November 7, 2018. Dan’s mother wants to use some of the proceeds from her home sale to help her young grandchildren save for their future Q: My mother has just sold...
How Low-Income, Single Seniors Can Plan For Retirement
The article "How Low-Income, Single Seniors Can Plan For Retirement" was originally published on MoneySense on October 31, 2018. Diane is worried about the prospect of retiring on her own especially given her limited ability to save Q: I am a 52-year old divorced lady...
Should You Incorporate A Business To Save On Taxes?
The article "Should You Incorporate A Business To Save On Taxes?" was originally published on MoneySense on October 23, 2018. Only if you can justify the initial and ongoing costs Q: I was recently let go from my job and am planning on starting a handyman business. I...
Drawing Down Retirement Savings As A Single Senior
The article "Drawing Down Retirement Savings As A Single Senior" was originally published on MoneySense on October 16, 2018. What to do with pensions, RRSPs, TFSAs, CPP and OAS as a solo retiree Q: As I approach the early days of my retirement, I am considering...
How To Decide When To Convert RRSPs To RIFFs
The article "How To Decide When To Convert RRSPs To RIFFs" was originally published in MoneySense on October 9, 2018. Bart has three RRSP accounts and wants to know how his RRIF withdrawals are calculated Q: I have several (three) RRSPs, partially resulting from...
TFSA vs RRSP: How To Decide Between The Two
The article "TFSA vs RRSP: How To Decide Between The Two" was originally published on MoneySense on October 2, 2018. Here are five factors to consider when making your choice Q: I have a question about RRSPs and TFSAs. My average income is $100,000. Which account I...
How To Help A Parent Invest In Their 80s
The article "How To Help A Parent Invest In Their 80s" was originally published on MoneySense on September 25, 2018. Beth is trying to help her mother decide what to do with the sale proceeds of her house Q: My elderly mother, 83, just sold the family home for...
For Baby Boomer Couples, Synchronize Or Stagger Is The New Retirement Dilemma
The article "For Baby Boomer Couples, Synchronize Or Stagger Is The New Retirement Dilemma" was originally published on Financial Post on September 24, 2018. The first generation where two careers are the norm also sees a spike in grey divorce Dual-income households...
Tax Withholding On RRIF Withdrawals
The article "Tax Withholding On RRIF Withdrawals" was originally published on MoneySense on September 18, 2018. Bob is concerned about the tax withholding on his RRIF withdrawals. He’s not sure he’s drawing down his investments properly. Q: I am a widower, 80 years...
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