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 […]
Consider Sun Life Income Series for Guaranteed Lifetime Income in Retirement It may be worth considering Sun Life Income Series for Guaranteed Lifetime Income in Retirement. This product may be suitable for both pre-retirees as well as those already retired. If you want more guaranteed income than Canada Pension Plan (CPP), or Old Age Security (OAS) and private […]
Consider Empire Life Class Plus 3.0 for Guaranteed Lifetime Income in Retirement It may be worth considering Empire Life Class Plus 3.0 for Guaranteed Lifetime Income in Retirement. This product may be suitable for both pre-retirees who plan to retire within the next 20 years as well as those already retired. If you want more guaranteed income than […]
RRSP Deadline for 2017 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 2017 tax year is March 1, 2018. But do you have unused RRSP contribution room? […]
Dying in Ontario is Now More Complicated Ontario enacted new regulations to the estate settlement process on January 1, 2015. What this means is that now there’s more red tape and delays settling an estate. It’s also more work and responsibility for the executor who implements the wishes of the testator. What Major Changes Have Been Implemented Enhanced compliance […]
Good Estate Planning Articles Below is a collection of what I consider good educational articles about estate planning. Estate Planning: When There Isn’t a Will… What is the Way? Creating a will can be an emotional experience, however not having one can cause greater emotional turmoil for those left behind…but according to a recent study, half […]