Differences between CPP and OAS
A lot of Canadians made a lot of noise last year when Federal Finance Minister Jim Flaherty announced that those younger than 54 would need to wait another two years before they received any government assistance as they got older. The Old Age Security (OAS) benefit was being pulled back from 65 to 67, and…
Read moreThink Boomers are Going to Scoop Up all Those Condos? Think Again!
There are quite a few people who would be very happy if the aging Baby Boomers came in and scooped up all the excess condos in cities such as Toronto or Vancouver, where there’s a gross overstock on the market. Now, a new survey from Royal LePage says that we shouldn’t be holding our breath…
Read moreThe Difference Between Your RRSP Deduction Limit, and Your Contribution Limit
When it comes to saving for your retirement, everyone knows that the more you can, the better. But everyone also knows that while you’re trying to stow away as much cash as possible, when it comes to your RRSPs, there are limits. You can only contribute a certain amount every year, and you will be…
Read moreCanadians on the Road of Good Intentions when it Comes to Retirement Planning
‘Tis the season to get all caught up in retirement planning and socking away as much as you can. And when it comes to wanting to contribute to our future retirement during our working years, the good news is that most Canadians want to. The bad news though, is that not many of us follow up those…
Read moreTerritories Contribute Most to Retirement, Alberta Close Behind
Statistics Canada released a report this morning showing the different levels of RRSP contributions around the country, and seeing how certain provinces and territories stacked up against each other. Turns out, individuals in the territories contribute the most to their retirement through RRSPs and TFSAs, while Alberta is the leading province in the same category….
Read moreWhy We May not Be So Bad Off in Retirement After All
There’s been a lot of concern – especially among those just a generation or so younger than Baby Boomers – about retirement. With new Old Age Security requirements, we’ll be working longer; and speaking of those Boomers, the government may not have enough left after their retirement years to support those younger generations. Never mind…
Read moreShould You Borrow to Make RRSP Contributions?
It’s RRSP season and just the other day we brought you a list of the most commonly asked RRSP FAQs. But there’s one question that’s so common, and so complex to answer, that we thought we’d dedicate an entire post to it. That question is: should you borrow to make RRSP contributions? Sometimes the answer is…
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