Retirement Planning

Excess Withdrawals from Your RRSP or RRIF – Part 2

There are situations to only withdraw the required minimum amounts and there are situations to make excess withdrawals from a RRIF. Plus, there are other considerations.

Spousal beneficiary designations

“The investment firm told me that I must leave my RRIF to my spouse.”

That is common guidance, but it misses the bigger picture. There are situations to leave your RRIF to your spouse and there are situations to NOT leave your RRIF to your sp…

Excess Withdrawals from Your RRSP or RRIF – Part 1

“Should I listen to the advice that I only withdraw the required minimum amounts from my RRIF?”

That is common guidance, but it misses the bigger picture. There are situations to only withdraw the required minimum amounts and there are situations to make excess withdrawals from a RRIF.

{Assets remaining at year of the last death} are the assets remaining after income tax upon the last death of an individual or a couple, the remaining assets a…

Maximize Your Assets Remaining at Death

Subscribers to The Canadian Retirement Planner's Software tell us that their major objective is to minimize their income tax during retirement. However, the Canadian Income Tax and Retirement System is not that simple. My spouse and I will pay more income tax if it increases the {Assets remaining at the year of the last death}.

{Assets remaining at year of the last death} are the assets remaining after tax upon the last death of an individual or a couple…

“Does the Software make sure that I pay the absolutely minimum amount of income tax during retirement?”

Subscribers to The Canadian Retirement Planner's Software tell us that their major objective is to minimize their income tax during retirement. The following paragraphs explain why this is considered to be critical.

As you transition into a phase of life where regular earned income ceases, managing your financial resources becomes paramount. One critical aspect of this management is minimizi…

The brokerage firms and money management firms have developed or purchased Retirement Planning Software to serve their clients for whom they provide full-service, investment management with a fee structure based upon the amount of funds invested. This Software is quite sophisticated.

They do not make this Software available to Do-It-Yourself (DIY) investors. If you find a website that offers to prepare a retirement plan for you, it is phishing, looking to take over the management of your assets…