Registered Education Savings Plans (RESPs) are the best way to save for your children’s education. That’s because the government provides at least a 20% match of your contributions*, and who doesn’t love free money?
Whether you keep your tax records in a fireproof safe on the second floor, stacked up beside the microwave, or in five coloured folders in your home office…
First – why do you think you’ve over-contributed? Is it because your account value exceeds the accrued contribution limit?
As I write, in 2018, the Tax-Free Savings Account (TFSA) program is ten years old. And what a fine ten-year-old it is! Who doesn’t love being able to set money aside tax-free, for a lifetime?
At some point, you wisely purchased insurance to protect you and/or your dependents from the financial risk of premature death, disability, critical illness, or the need for long-term care.
It’s a little-known fact that insurance companies charge more to policy holders who pay monthly than those who pay annually. In general, monthly payors pay 7% to 9% more.
Back in late 2008 a client of mine shared an article with me about a new mutual fund company called EdgePoint. I did the research, and as a result, discovered one of Canada’s premiere investment management firms.
Recently a client sent me an interesting note ending with two excellent questions about how our investment managers keep their feet on the ground. I enjoyed his note, and decided to share both the note and my answers with you.
Time flies when you’re saving money. Lo and behold, you are turning 71 which is the deadline for converting your Registered Retirement Savings Plan (RRSP) into a Registered Retirement Income Fund (RRIF).