by Enoch Omololu, MSc (Econ)
What happens to your pension benefits if you relocate or retire outside Canada? The reality is that an increasing number of Canadians are choosing warmer climates and destinations with a …
by Enoch Omololu, MSc (Econ)
The TFSA is a useful investment tool to avoid paying taxes on investment returns. However, depending on how the estate of the account holder is set up, there may be …
by Enoch Omololu, MSc (Econ)
Can you avoid paying taxes on RRSP withdrawals? Generally, when you withdraw money from your RRSP, you pay taxes upfront (withholding taxes) and may owe even more taxes when you …
by Enoch Omololu, MSc (Econ)
Seniors in Canada received a small boost in their OAS pension in the summer of 2022 when they were paid a one-time $500 payment. This increase was part of changes …
by Enoch Omololu, MSc (Econ)
We are lucky as Canadians to have access to various tax-sheltered accounts (including RRSP and TFSA) that we can use to grow our retirement savings. Deciding between a TFSA and …
by Enoch Omololu, MSc (Econ)
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 …
by Enoch Omololu, MSc (Econ)
The Old Age Security (OAS) pension is one of the three main pillars of Canada’s retirement income system. The two other pillars are the Canada Pension Plan (CPP) and Employment …
by Enoch Omololu, MSc (Econ)
The Registered Retirement Savings Plan (RRSP) provides Canadians a practical way to save for retirement. RRSPs have various rules that govern how they are administered. Generally, you can withdraw from …
by Enoch Omololu, MSc (Econ)
There are several scenarios where you may need to move your RRSP assets around. For example, this could be because you want to move your RRSP to another bank and …
by Enoch Omololu, MSc (Econ)
Key Takeaways How much money do you need to save in your 20s, 30s, 40s, or 50s if you want to retire comfortably? While a ‘magic’ number for each stage …
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