The following are relatively common mistakes that Canadians make annually when contributing to their Registered Retirement Savings Plans. 1. Reporting RRSP contributions based on a calendar year. While your taxes are based on a calendar year, the reporting
A survey conducted by a big bank some years ago* revealed that over 30% of Canadians were hoping for a lottery win to help fund their retirement. This raises the question, “If you were to paint a picture of your
After spending likely 15 – 30 years focused on building an investment portfolio, it can be quite a challenge to switch gears when it comes time to withdrawing income from a retirement portfolio. This change leads to new ways of
There is a legend about a successful financial advisor in Warren Buffett’s stomping grounds of Omaha, Nebraska. It is reported that this advisor has learned the art of communicating the basics of wealth building with the local farmers. The advisor,
Almost everyone agrees that it’s a good idea to have a will. However, it is estimated that about half of Canadians do not have one, and it is likely that many wills are out of date, perhaps even invalid.
This seems to be an increasingly topsy-turvy world with wacky politics and trade wars between the US and just about everyone else. And in Canada we have all just witnessed another hard-fought federal election that ended with a minority government.