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 […]
RRSP Deadline for Your 2018 Tax Return 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 2018 tax year is March 1, 2019. But do you have unused RRSP contribution […]
Most people generally understand what a doctor, lawyer or engineer is and when they might likely need one. When a consumer needs financial advice, should they go to a “financial adviser” or “financial planner”? My industry is still working on that issue after 20 years. I started in financial services in the year 2000 with […]
In September 2020, I began a quarterly report on “Annuities”. The original article can be found by clicking on this link. Methodology Every three months, I update the default annuity quote (using the Cannex system). The default client is as follows. 65 year old male invests in a “life annuity” using $100,000 from an RRSP […]
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 […]
While COVID-19 cases are increasing, travel insurance companies will soon offer COVID-19 coverage outside Canada beginning sometime in October. I’ve attached a link from CTV news about Manulife’s announcement, click here. Other travel insurance companies have made similar announcements of their upcoming coverages which seem to be $200,000 in coverage. While you can’t drive across […]
2020 has been quite a roller coaster for investors so far, to say the least. COVID-19 was the primary reason for the market’s decline in March 2020 and thankfully the outlook is slowly improving. While younger investors may take advantage of low prices for securities due to a longer term time horizon, those in the […]