As I review client portfolios past performance over the last several years, I think we are at a point whereby an overview of the relationships between inflation, interest rates, bonds and GICs are due. Much of the analysis will be based upon the following article, “UPDATED: A timeline of Bank of Canada rate hikes.” Beginning […]
The Registered Retirement Savings Plan (RRSP) is an investment plan used by Canadians to save for retirement. Contributions are tax deductible for tax purposes, however there is a limit. The contribution rate is 18% of earned income up to a $31,560 which equates to an earned income of 175,333.33. This amount is reduced if you […]
Tax Free Saving Account (TFSA) Updates for 2025 Canadians can earn tax-free investment returns using the plan referred to as the Tax-Free Savings Account (TFSA). Often I am asked, “should I contribute to an RRSP or a TFSA”. The two plans are very different. You get a tax deduction for contributions to an RRSP but […]
As rising interest rates continue, annuity payouts have increased too. Below I have a table showing how annuity payout rates have increased substantially since the when I started this blog, September 2020, almost three years ago. Methodology I update the default annuity quote (using the Cannex system). The default client is as follows. 65 year […]
Canadians Travelling Outside of Canada Whether it’s an overnight trip to the USA or a longer vacation, travel insurance is highly recommended. Please see the attached real life story for the cost encountered by a Canadian on a trip to Florida. You can purchase travel insurance up to six (6) months ahead, so if you need a […]