The New Kid on the Block…the Variable Annuity! The variable annuity of commonly referred to as a GMWB is on the horizon. In June 2006, I attended the Morningstar Investment Conference, which focused on “Retirement Income Planning”. One well-known speaker, Moshe Milevsky, introduced the concept in retirement planning of not just how to generate retirement […]
I had a great question from a client who recently asked “When I convert my RRSP to a RRIF, how much money must I withdraw each year?”. That’s a great question, so I thought I would explain RRSP and RRIF withdrawals and the basic rules. You can make a withdrawal for any amount, up to […]
Service Canada – Canadian Retirement Income Calculator With RRSP season having just ended and tax season ramping up, the last thing on most people’s minds right now is planning for their retirement. Whether you do your own investing on-line, use your local bank, broker, or a financial planner do you know your “Number”? Experience shows […]
Why Business Owners Choose an Individual Pension Plan (IPP) over an RRSP If you are concerned about the growth of your RRSP to fund your retirement, the Individual Pension Plan (IPP) could be as much as 65% larger than an RRSP. If you are an incorporated business owner over age 40 and have T4 income above $132,334 […]
Variable Annuity (GMWB) and Your Income Retirement Plan In 2006, I attended an advisor conference and a specific presentation about a new retirement product coming down the pipeline aimed at both retirees and those within 15 years of retirement. Technically it’s called a variable annuity but is more commonly referred as a GMWB or Guaranteed Minimum Withdrawal Benefit. The product was developed because […]
Keep Tabs on Your Canada Pension Plan (CPP Benefit) Estimate When I do a retirement income plan for a new client or update an existing client’s plan for their annual review, it’s always best to get accurate information. I have found many clients don’t know the following. how much their personal CPP benefit will be, […]
Is Your Retirement Plan On Track? Is your retirement plan on track? Do you have a written copy to refer to? Do you review it with your financial planner during your annual review? What are the common questions clients want to know about their plan? Do I have enough money to retire? How long will […]
What If You Die Without A Will If you do a search for “what percentage of people don’t have a will”, you’ll find it’s well over 50%. As a certified financial planner (CFP), I remind my clients to get this important document in place and make sure to update it whenever there is a significant […]