When deciding what to do with newfound funds, whether from a business sale, inheritance, or bonus, Canadians have several options: spend, save, reduce debts, or donate. This article, however, will focus on the choice between investing and paying down mortgage debt, particularly in the context of the current high-interest-rate environment.
Estimating the Canada Pension Plan (CPP) benefits you might receive upon retirement can seem complex. However, leveraging the right resources can simplify this process, whether your retirement is imminent or a few years down the line. Learn more here: #retirementplanning #financialplanning #CPP #pensionplan #sbw
The Canada Pension Plan (CPP) is a central part of the retirement planning process for many Canadians. But how does it work, and when should you begin taking benefits?
Daily, we constantly seek ways to streamline and simplify tasks. From one-click online purchases to one-stop shops, we crave the ease of a straightforward approach. This same mindset should be
Over the past decade, affording a home has become a challenging task. To address this, the federal government launched the First Home Savings Account (FHSA) to assist first-time homebuyers. Let’s
We will now delve into understanding the tax implications of the Registered Retirement Income Fund (RRIF) upon the death of its holder.
Embarking on retirement is a significant phase of life. To prepare effectively, one must be equipped with the right resources.
When it comes to estate planning, a will is undoubtedly a crucial document. However, there are downsides to distributing assets through a will, such as a probate tax that varies by province. Additionally, once your will is probated, it becomes public record, meaning anyone can look up how your assets were distributed.
The prospect of retirement conjures visions of leisure and relaxation. Still, for many, it's a journey into the uncharted – a phase without the well-defined structures of work and daily routines.
While designed to achieve certain goals, Canada's progressive tax system can lead to inefficiencies for couples with significantly different incomes. As retirees, it's essential to explore tax-reduction strategies to maximize your family's financial efficiency.
