Objective Financial Partners Blog
When To Watch Out For OAS Clawbacks
The article “When To Watch Out For OAS Clawbacks” was originally published on MoneySense on March 14, 2018. Working in retirement? Beware clawbacks. Q: I have been trying to find out how much extra income a person can earn without having to report the income while drawing OAS and CPP. I…
RRSP Top-Ups In Retirement Could Cost You
The article “RRSP Top-Ups In Retirement Could Cost You” was originally published on MoneySense on March 7, 2018. Remember: It’s not worth saving $5,000 of tax today to pay $10,000 of tax tomorrow Q: I retired in May 2009 and was under the impression that I could no longer contribute…
When Income Drops, Should We Tap The RRSP And Feed The TFSA?
The article “When Income Drops, Should We Tap The RRSP And Feed The TFSA?” was originally published on MoneySense on February 27, 2018. If one partner is home with the kids, it sometimes makes sense to withdraw from an RRSP I’ve been contributing to a spousal RRSP while my wife…
Giving Money To Your Grandchildren
The article “Giving Money To Your Grandchildren” was originally published on MoneySense on February 20, 2018. Consider a formal trust, among other options Q: A senior couple would like to transfer shares in individual companies to five different grandchildren. All are under ten years old. Some are held through an advisor…
How Safe Are My Retirement Savings If The Bank Fails?
The article “How Safe Are My Retirement Savings If The Bank Fails?” was originally published on MoneySense on February 19, 2018. What to do to make sure your savings are protected Q: I am considering retiring early (at 55) and based on advice from my financial planner, I can rather easily…
How To Start Investing Late In Life
The article “How To Start Investing Late In Life” was originally published on MoneySense on February 11, 2018. It’s never too late to start playing catch-up Q: I am a late bloomer. I finally have an empty nest, but I had low income employment and always lived with my nose 1…
Financial Planning And Mental Illness
The article “Financial Planning And Mental Illness” was originally published on MoneySense on February 7, 2018. Advice for a reader who’s been unable to save due to her chronic mental illness Q: I am 43 with no children or spouse. I have a mental illness that is chronic and has prevented…
Take Back Control Of Your RRSP With These Three Easy Steps
The article “Take Back Control Of Your RRSP With These Three Easy Steps” was originally published on Financial Post on January 31, 2018. Make sure you know what you own, what you pay and what your returns are in order to work toward your retirement goals If you’re like most…
Become A Millionaire By Investing The Wage Hike?
The article “Become A Millionaire By Investing The Wage Hike?” was originally published on MoneySense on January 23, 2018. It’s hard to invest money when you’re making minimum wage. But you can make the boost add up. Ontario Premier Kathleen Wynne increased the minimum wage from $11.60 per hour to…
Pension Income Splitting Explained
The article “Pension Income Splitting Explained” was originally published on MoneySense on January 16, 2018. The kind of pension that qualifies, when it makes sense to defer and the tax consequences to watch out for Q: I am 62 years old and I receive a pension from my work. At the…
What Happens To Your Spouse’s TFSA If They Die
The article “What Happens To Your Spouse’s TFSA If They Die” was originally published on MoneySense on January 9, 2018. It depends on whether you’re their beneficiary, a successor holder or neither —Updated Jan. 16, 2018 to clarify TFSA rules for those who live in Quebec— Q: My brother recently died…
Here’s What To Do When You Take Over A Parent’s Finances
The article “Here’s What To Do When You Take Over A Parent’s Finances” was originally published on Financial Post on January 2, 2018. Here are some of the key areas to address in anticipation of or in response to taking over a parent’s finances. According to the 2016 census from…
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