Alberta Seniors Benefit Explained
Seniors in Alberta have access to several financial assistance programs including the: Alberta Seniors BenefitSpecial Needs Assistance for SeniorsDental and Optical Assistance for SeniorsCoverage...
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Retirement Planning
TFSA vs. RRSP: When You Should Prioritize TFSA Over RRSP
We are lucky as Canadians to have access to a variety of tax-sheltered accounts (including RRSP and TFSA) that we can use to grow our retirement pots and/or save in general. Deciding between a TFSA...
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What is a LIRA and How It Works in Retirement
A locked-in retirement account (LIRA) is designed to hold pension funds that you have accumulated in a company pension (defined benefit or defined contribution) when you no longer work for the...
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CPP Disability Benefits and Payments Explained
The CPP disability benefit is a monthly benefit available to eligible CPP contributors who are unable to work at any job on a regular basis because of a severe and prolonged disability. At age 65, a...
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Is CPP Taxable?
The Canada Pension Plan (CPP) is a monthly benefit paid to retirees who have contributed to the plan during their working years. CPP payments were initially designed to replace about 25% of your...
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RRSP and TFSA Bank Transfer Fees in Canada
Canadians can transfer their RRSP or TFSA accounts from one financial institution to another without penalty or tax consequences. Of course…so long as you do it the right way. Your reason for...
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5 Reasons To Delay Taking CPP Until Age 70
I have previously written about reasons to take CPP early at age 60. In this post, I cover some reasons why you may actually want to delay taking CPP until age 70 instead of the standard 65 years....
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Should I Take CPP Early at Age 60?
Should I take CPP early at age 60, wait until the standard 65 years, or defer CPP benefits until I’m 70 years old? I get these questions a lot from my readers and while I certainly do not...
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CPP Survivor and Death Benefits Explained
When a CPP contributor dies, their surviving spouse and children may be eligible to collect the following benefits: CPP death benefit CPP survivor’s pension CPP children’s benefit...
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How to Save on Taxes By Maximizing Your RRSP Contribution
Updated for 2020 Tax season is again upon us and you can save on your tax bill and get a nice refund by maximizing your Registered Retirement Savings Plan (RRSP) contribution for the 2019 tax year....
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Freebies and Deals
