The Canadian Financial Summit kicks off this week. Kyle at the Summit puts it this way – This Virtual Summit will cut through the fog of confusing financial jargon and build the confidence needed to seize control of your personal finances. Each speaker will pull back the curtain on their unique area of expertise. With their actionable […]
Six ways to lower your taxes in retirement.
This post was inspired by Rhys Martell the founder of Well Built Wealth. Rhys does a wonderful job of educating Canadians on all things retirement. I’ve learned a bunch from Rhys and several other advice-only planners. Rhys offered a video (shown below) offering six ways we can lower our taxes in retirement. While it’s a […]
Yes, you can create your own retirement cash flow plan.
All retirees and near retirees need to run the numbers. They need to create an optimized retirement cash flow plan. A cash flow plan will show you the optimal time to take CPP and OAS, and then how to create income from your RRSP/ RRIF/LIFs, TFSAs, Taxable accounts, pensions and other sources of income. You’ll […]
Contributing to your working spouse’s RRSP while you’re already retired?
The post discusses tax strategies for retirement, particularly how a low-taxed early retiree can contribute to a higher-taxed spouse’s RRSP, generating tax benefits. It outlines the advantages of RRSPs and TFSAs, the importance of tax credits at age 65, and encourages employing retirement calculators for optimal cash flow planning.
Matching your investment portfolios to your retirement cash flow plan.
It appears to be an overlooked part of retirement planning. While we should always invest within our risk tolerance level we should also match our investment portfolios to the retirement cash flow plan. The plan gives the marching orders for each account. If you create a portfolio-to-plan mismatch, you could increase the risk of depleting […]
The 101, how to create a retirement cash flow plan using MayRetire.
It’s imperative that retirees embrace an optimized retirement cash flow plan. Over decades, these plans can often “find” tens to hundreds of thousands of dollars of income. And out of the gate, a retirement cash flow plan addresses a retiree’s number one concern – the fear of running out of money. The cash flow plan […]