Ontario Retirement Pension Plan (ORPP) : Will Those Over 50 Benefit? If you plan to retire in the next 15 years, I wouldn’t get too excited about how the Ontario Retirement Pension Plan (ORPP) will supplement your retirement income! While I have many issues with the ORPP, I realize there is relatively little I can do […]
Financial Planning Binder In step four of the financial planning process, the client’s financial plan is presented in a personalized financial planning binder. It includes all engagement documents, client data, goals, recommendations plus action plans for each each of the following six areas (or specific modules you selected ) as follows. Cash Management Planning Investment Management Planning Retirement Income Planning […]
Tax Freedom Day – June 10, 2015 Today is Tax Freedom Day. Every year the Fraser Institute calculates the total tax burden imposed on the average Canadian family by Canada’s three levels of government. If families were required to pay their total tax bill in advance, they would give every dollar they earn to government […]
What Does the RRSP Deadline Mean? Quite simply, the “RRSP Deadline” is the last day this year that you can make a contribution to your Registered Retirement Savings Plan (RRSP) but claim the tax credit on the previous year’s taxes. The RRSP deadline for the 2014 tax year is March 2, 2015. But do you have unused RRSP contribution room? […]
How Long Should Snowbirds REALLY Stay Out of Canada? Snowbirds and Travelers to the US A lot of retirees travel south each winter to escape the cold. They are probably well aware how their medical coverage through OHIP works (up to 212 days which is effectively 7 months) and hopefully purchase adequate “travel insurance“, so they don’t find themselves in a financial mess should […]