by Enoch Omololu, MSc (Econ)
There are several federal and provincial programs and benefits that complement other sources of income seniors have in retirement. There is no easy answer when it comes to how much …
by Enoch Omololu, MSc (Econ)
Your Registered Retirement Savings Plan (RRSP) account is an excellent tool for saving toward retirement. Whether you choose to retire early or plan to work until you are 65 years …
by Enoch Omololu, MSc (Econ)
Depending on how your registered accounts are set up, they may be treated differently when you, the owner or annuitant, die. Ensuring you set up your savings or retirement accounts …
by Enoch Omololu, MSc (Econ)
If you are confused by what the acronyms – LIRA, LRSP, LIF, LRIF, RLIF, PRIF, and their many other combinations mean, you are not alone. These terms can easily be …
by Enoch Omololu, MSc (Econ)
The pension income tax credit (PITC) is a non-refundable tax credit that can be claimed on eligible pension income. The tax credit allows seniors to save on taxes payable by …
by Enoch Omololu, MSc (Econ)
Are you considering moving your RRSP, TFSA, RESP, or RRIF from one bank to another? There are many reasons why you may want to transfer your registered investment accounts from …
by Enoch Omololu, MSc (Econ)
The Registered Disability Savings Plan (RDSP) is a savings program designed by the Canadian government to assist people with disabilities. The RDSP was implemented in 2008 and was the first …
by Enoch Omololu, MSc (Econ)
What retirement benefits are available to survivors after the death of a spouse, common-law partner, or parent? If the deceased contributed to the Canada Pension Plan (CPP), survivors may qualify …
by Enoch Omololu, MSc (Econ)
When your income passes a threshold the government sets annually, your Old Age Security (OAS) benefits may be clawed back. Read on to learn about strategies for minimizing the OAS …
by Enoch Omololu, MSc (Econ)
Key Takeaways The Tax-Free Savings Account (TFSA) is a great tool for saving and investing tax-free. As the name implies, any capital gains, dividends, or interest generated on your TFSA …
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