Insights

By far, the biggest worry that retirees have is running out of money in retirement. But what if I told you that there is a financial product out there that is structured to pay you guaranteed income throughout your retirement, regardless of how long you live? In this video I am going to talk about the role of annuities in a retirement income plan. I will demonstrate how a hypothetical retiree couple can introduce an income annuity into their retirement plan, boost their guaranteed retirement income, and reduce their stress of running out of money in retirement.

What types of returns should we assume for our retirement projections? This is a question that has come across my desk a few times over the past several weeks. Making reasonable assumptions about what our investment performance could be in the future is a critically important part of good financial planning. If we assume too little, it may cause us to pursue investments that aren’t suitable for our plan. If we assume too much, it could cause us to over-spend and potentially run out of money down the road.

How do I pay less taxes in retirement? This is a question that is on the mind of many retirees. After all, income taxes may very well be one of our largest expenses in retirement. In this video I am going to explain income splitting and its effect on averaging down your retirement tax bill and leaving more money in your pocket so you can enjoy your retirement.

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.