Retirement Planning

Can you have too much in your RRSP?

“Occasionally somebody will ask me if it is possible to have too much money in their Registered Retirement Savings Plan. The concern is that at some point they will have to take the money out, and they could see excessive taxation, and/or the clawback of government benefits. So, can you have too much money in…

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What’s the big deal about inflation?

“There has been a lot of talk about inflation recently. Generally, this is the type of bland subject matter that only intrigues economists, but lately more and more people are paying attention. So, what is inflation, and why should you care?” Smart Money Whats the big deal about inflation

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These good times are here to stay, right?

“Some people will look at past performance and extrapolate what has happened out into the future. They think the recent trend of good performance will continue without interruption, and they jump in because they want a piece of the action too. But trends don’t last forever. Just because an investment has already appreciated is no…

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What happens to your money in retirement

“In the world of financial planning there is no shortage of things that are the source of confusion and concern. One of the things on that list is what happens to your money in retirement. Clawbacks, eligibility for benefits, taxes; there are all sorts of questions.” Smart Money_ What happens to your money in retirement…

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Do you have enough to retire?

“A recent study by Aon found that the average Canadian needs to accumulate 10.9 times their final pay to maintain their income in retirement. In other words, if you are making $100,000 when you retire, you are going to need $1,090,000 in savings going into retirement or you risk running out of money in your lifetime….

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Preparing for good health and success

“How are your finances positioned to sustain a multi-decade retirement? With medical advances plus better nutrition and health habits, there is a well-documented upward trend in longevity. It’s one thing to live a long time, its another to make sure that your money lasts as long as you do.” Smart Money_ Preparing for good health…

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Retirement not just about money

“For many people, retirement is going to last for a long time. A long retirement is great, but that is assuming you are healthy and happy. Connectivity will do wonders for your happiness, and exercise will do miracles for your health. And if you want some motivation, consider how dreary a lengthy retirement would be…

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Using the right tool for the job

“Sometimes people say to me, “I hate RRSPs.” Honestly, that statement does not make a lot of sense. A Registered Retirement Savings Plan is just a tool to get a job done. It would be like someone saying, “I hate hammers,” or “I hate needle nose pliers.” Usually when people tell me that they hate…

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Millennials, time to start thinking about your future

“How many Baby Boomers would you expect were thinking of retirement way back in the 1960s and 1970s? But now their time is here. How many Gen-Xers were thinking about life after work in the 1980s and 1990s? But now their time is quickly approaching. The point is, the calendar shows no mercy. You are…

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