The article “How to Get Money Out of Locked-In Retirement Accounts” was originally published on MoneySense on March 17, 2015. Pete has a LIRA and wants to understand the rules on making withdrawals Q: I have a LIRA and have been told that each province has strict laws on when I…

The article “What To Do With An Inheritance” was originally published on MoneySense on March 10, 2015. Should Rich use his $200,000 inheritance to reduce his debt and increase his cash flow? Q: I recently inherited some farm land and it is worth $200,000. I have a relatively large mortgage of…

The article “Are You Ready to Retire?” was originally published on MoneySense on March 3, 2015. 9 questions to help you determine if you can afford to quit working Q: I am a 57-year-old widowed medical secretary earning $43,000 annually plus survivor pension of $560 monthly. I do not have a mortgage…

The article “How Pension Income Splitting Really Works” was originally published on MoneySense on February 26, 2015. Ken is trying to get some answers so he can plan a tax efficient retirement income for he and his wife Q: As I understand it, RRSPs have tax withheld at 30% and then…

The article “Optimize Your Retirement Income” was originally published on MoneySense on February 17, 2015. Jackie is approaching retirement and her husband is retired. She’s looking to optimize her retirement income and minimize her income taxes. Q: My husband is 63 and I am 58 years-old. We have defined benefit pension…

The article “Juggling Personal and Workplace RRSPs” was originally published on MoneySense on February 12, 2015. Make workplace RRSPs your primary focus Q: My husband and I participate in workplace RRSP top-up programs, and we have an RRSP loan to maximize my husband’s RRSP contribution. We’re not sure if this is…

The article “Using More Than One Financial Adviser” was originally published on MoneySense on February 10, 2015. At key times in your life, it makes sense to use more than one financial adviser. Does it make sense for Donna? Q: What are the benefits and/or drawbacks to using more than one…

The article “How Spousal RRSP Withdrawals Work” was originally published on MoneySense on February 9, 2015. Avoid unexpected tax consequences by knowing how attribution works Q: My wife and I are planning to retire within five years. I heard about a rule that requires you to stop contributing to your RRSP…

The article “Timing RRSP Withdrawals” was originally published on MoneySense on February 3, 2015. Kate has a home repair that she wants to fund with an RRSP withdrawal. Should she? And if she does, can she mitigate the tax? Q: I am retired and I am 68 years old. I have about…