Objective Financial Partners Blog
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 has been diagnosed with a chronic condition…
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 years old…
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 have been 65…
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 time? 1. Before the end…
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 evolution and adjust to our aging population In…
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. Q: Should your spouse be listed…
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 can transfer all your…
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 year of death. Q: My…
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. I’m wondering what the implications are for our…
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 set-and-forget scenario. The mathematics of retirement planning…
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…
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 save tax…
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