All items tagged with: retirement income
Posted in: Strategic Thinking, Current Issue , Retirement, TFSA, Essential Tax Facts, retirement planning, rrsp, retirement income, wealth management, tax calculators
It’s tax filing season but smart taxpayers will turn this into tax planning season, too. The key question for couples working with tax specialists: how do we maximize our retirement income potential? There are three specific goals to consider.
Posted in: Strategic Thinking , Real Wealth Management, retirement planning, elements of real wealth management, retirement income, wealth management, gig economy
Canadians are struggling to meet their retirement savings goals, and this is an issue impacting the traditionally employed and self-employed, alike. A recent survey by TD identified that it’s a special challenge for gig workers in particular. But for many, it’s a dilemma that can be solved by changing priorities.
Posted in: Strategic Thinking , Tax, Wealth planning, investment, TFSA, Evelyn Jacks, rrsp, retirement income, wealth management, income splitting
Is it better to invest your money into your TFSA or RRSP? The answer here isn’t black and white, so we decided to crunch some numbers and shed some light on the grey areas, for those who need to make the choice in anticipation of the March 1 RRSP contribution deadline.
Posted in: Strategic Thinking , Evelyn Jacks, RRSP calculator, rrsp, retirement savings, retirement income, retirement income planning
The CRA officially began accepting electronically filed tax returns this week, but you may want to slow down and observe an important tax savings opportunity before you rush to file. Contributions to your Registered Retirement Savings Plan (RRSP) for the 2018 tax year ends on March 1, 2019. Besides reducing your tax bill, you could score even bigger returns: increased refundable and non-refundable tax credits.
Posted in: Strategic Thinking , Retirement, Wealth planning, TFSA, rrsp, retirement income, maximum contributions
When generating tax-efficient wealth is your goal, consider investing in your TFSA. Despite enduring some political controversy over the years*, the TFSA has gained a broad-based acceptance by over 13 million Canadians. This is especially true for two demographics - the Boomers and the millennials as reported by Statistics Canada**. Read on for five compelling reasons.
Posted in: Strategic Thinking , OAS, Evelyn Jacks, guaranteed income supplement, old age security, retirement income, GIS, Walter Harder, retirees, benefits for seniors, senior income, seniors in poverty, low-income seniors
According to Statistics Canada*in 2016, 4.9% or 289,000 of 4.9 million seniors in Canada were living in poverty. Yet, more than one in ten seniors who are eligible for the Guaranteed Income Supplement (GIS) didn't receive it in 2016-17. This is a big concern because, in fact, the number of seniors living in poverty is on the rise. So what’s the problem?