Our hypothetical couple, Johnny and Janey, were ready to retire, but they had some opportunities to improve their retirement income plan. In this video I walk through 3 enhancements that took their retirement confidence to a 10 out of 10.
Getting income taxes right in retirement can be stressful. While we are working, our employers generally do a good job of making sure our tax withholding matches our tax liability. But it is trickier in retirement. We have multiple income sources coming in, all with varying levels of income taxes withheld, and often times we have a negative surprise at tax time. In this video, I walk through a sample retiree's tax return and show how they ended up with a surprise tax bill at tax time. Then I talk about steps they can take if they want to get their tax withholding right, specifically for CPP and OAS.
In this video, I walk through how much you may need to have saved up for retirement based on different retirement spending needs. Then, I walk through some of the variables that may cause your retirement number to change - both up and down.
In this video I walk through some estate planning considerations for Tax-Free Savings Accounts. I am going to explain how beneficiary designations work for TFSA’s when you pass away and explain a useful approach to passing your TFSA along to your spouse when you pass away that will save you time and frustration.
In this video, I am going to talk about the most happy and fulfilled working retirees that I know are doing and give you some strategies to find this situation for yourself in retirement.
Are you wondering how you should construct a portfolio for retirement income? The fact is that retiree portfolios should be designed for the individual circumstances of each retiree. The building blocks may be similar, but how we arrange them will vary quite a bit from person to person.
As you approach retirement, should you be putting money into your TFSA or into your RRSP? Many people preparing for retirement consider this question. The short answer is: it depends. In this video I am going to describe the TFSA and RRSP accounts and walk through different scenarios that compare the two accounts side by side, and at the end of the video I am going to give you some key takeaways as you consider this question for your own retirement savings.
Are you nearing retirement and concerned about how much of your hard-earned savings will go towards taxes? The bad news is that you will almost certainly be paying income taxes throughout your retirement. In fact, it may be one of your largest household bills. The great news is that, with a bit of smart planning, you can manage that tax bill downward based on how and when you make withdrawals from your retirement accounts. In this video, I am going to walk you through an example of how you can strategically time the withdrawals from your investment accounts to lower your tax bill.
The Minister of Finance tabled the 2023 Federal Budget this week in the House of Commons. The budget introduced a wide range of programs and changes that will affect Canadians. In this video, I want to focus on the changes that will specifically impact Canadian retirees and soon-to be retirees. We will talk about what the changes are, their impact, and planning opportunities to make sure that you are able to take advantage of any opportunities that they present.
According to a recent survey by Edward Jones, Only 24% of Canadians surveyed feel very confident about their financial readiness for retirement. In this video, I share 6 strategies to help you catch up on your retirement savings plan.