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Life Insurance and the Principle of Decreasing Responsibility
The “principle of decreasing responsibility” is a financial planning concept that states that an individual who has dependents such as a spouse and/or children has financial responsibilities that life insurance can help meet in the event of death.
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Transferring RRSPs to RRIFs at age 71
Understanding transferring RRSPs to RRIFs RRSP Maturity Strategies: You are allowed to contribute to your RRSP up until December 31 of the year that you turn 71, at which point your RRSP must be closed. Instead, you can select any …
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Avoid the Old Age Security (OAS) Clawback
The Old Age Security (OAS) clawback, officially known as the OAS recovery tax, reduces the amount of OAS pension you receive if your income exceeds a certain threshold. To avoid or minimize the OAS (Old Age Security) clawback in 2025, …
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7 ways life insurance protects your financial foundation
Life insurance has been called the foundation of your net worth. If you have a spouse or children, the initial stages of your financial strategy should include adequate life insurance coverage.
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To retire well, maximize your income strategies
We invest in what people buy. When an equity investment fund or stock is purchased, you indirectly invest in businesses relating to what consumers buy.
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If you are an investor who remembers the mortgage debt crisis of 2008-9, you know that the stock market lost significant value. From an investment standpoint, the real downside occurred when some investors sold off their equity holdings due to …
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RESP: Saving for children’s and grandchildren’s education
Canadian legislation enables Registered Education Savings Plans (RESPs) to support education savings for children and grandchildren through specific provisions outlined in the Canada Education Savings Act and related regulations. Facts about an RESP A Registered Education Savings Plan (RESP) is a …
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Understanding transferring RRSPs to RRIFs.
RRSP Maturity Strategies: You are allowed to contribute to your RRSP up until December 31 of the year that you turn 71, at which point your RRSP must be closed. Instead, you can select any or a combination of: transferring …
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When Permanent Insurance makes sense
As the children get older and move out on their own, and your mortgage and other debts are nearly paid off, the need for life insurance capital designed to replace income for dependents decreases.
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RRSP and TFSA REVIEW 2025
What are some differences between a Tax-Free Savings Account (TFSA) and a Registered Retirement Savings Plan (RRSP)? The tax benefits of the Tax-Free Savings Account (TFSA) The TFSA is a registered savings account that makes it easy for Canadian taxpayers …
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Is your money safe in a mutual fund?
One day your retirement income will flow from the capital you have been saving for years during thirty to forty of your working years.
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What is taxable in an estate?
After the death of an individual, every estate must file a final (or ‘terminal’) tax return. All assets are deemed to be disposed of at time of passing, and this can trigger probate fees and other expenses.
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