Retirement Planning
Lower RRIF Withdrawal Minimums—More Flexibility for Seniors
The annual federal budget revealed in April 2015 brought along changes that have a profound impact on the financial industry. Along with the decision to raise the contribution limits of TFSAs, it was also announced that the government has proposed new rules for Registered Retirement Income Funds (RRIF) and lowered the mandatory withdrawal minimum for…
Four Mistakes to Avoid When Creating a Retirement Income Plan
Today, I want to talk about the four common mistakes that retirees should avoid making when creating a retirement income plan. These are: Not factoring in inflation Not factoring in income taxes Poor structure of investment management fees Believing in the myth that your fixed income exposure needs to match your age First, let’s begin…
The Richest Person In The Nursing Home
Featured in the July 2014 Newsletter of HAHN Investment Stewards. Republished with permission. By: Scott E. Plaskett, CFP Senior Financial Planner & CEO, IRONSHIELD Financial Planning, www.ironshield.ca Is your financial planning putting you on track to be the richest person in the nursing home? I bet it IS. How do I know? For the majority…
9 Things You Need To Know Before You Can Retire Comfortably
For many people, long gone are the days when you can retire from your job with the pension that your employer provides. Today it is important to have your own plan. It is all about taking control of your financial future and there a few steps you should take to help you achieve your retirement…
TFSA VS RRSP – Where’s The Best Place for Your Money
A recent online survey conducted in November by Ipsos Reid showed that of over 1200 Canadians, 36% aren’t even contributing to an RRSP (Registered Retirement Savings Plan). If that many people aren’t taking advantage of this age-old investment vehicle, imagine how many are not using the much newer TFSA (Tax Free Savings Account). Add to…
Three Pillars To Successful RRIF Investing
When building an investment portfolio for retirees, there are three criteria that when met, will provide you with the highest probability of success. Now, most articles being written today about investing for income are all focusing on the income distributions, yield and consistency of both. The problem is that if you don’t apply these three…
5 RRIF Strategies For Retirees
Like many Canadians approaching retirement, you probably have an RRSP that you have been contributing to and managing for years. However, that magical date where you turn 71 and have to convert your RRSP to a RRIF is quickly approaching. Now you need to know more about Registered Retirement Income Fund (RRIF) strategies as…
The Key To A Successful Canadian Retirement
I have recognized that there is one single problem facing Canadians today (really, it’s not just Canadians but for this post, I’ll only discuss issues that relate to Canadians) and this problem, is erratic, irrational and unpredictable. Government decisions to keep interest rates low – they are artificially low to keep the economy moving but…