RRSP/RIF

Back to Basics: A Reminder of RRSP Musts

To play any game, it is important to know the rules and how they may affect the outcome or result of the game. Not to suggest that planning for retirement is a game, but knowing how RRSP rules can affect your retirement planning is very important. Read more about “must knows” for your RRSP planning.

Borrowing to Contribute to Your RRSP…Does it make sense?
If you have not yet made the maximum contribution to your RRSP for 2007, or have unused contribution room from previous years, now is the time to consider an RRSP loan. Should you borrow to invest in your RRSP? Read more about this topic.

You and your taxes: Establishing a year round process.

Does most of your tax planning take place during the last few months of the year? If so, you are not alone. However, to effectively reduce your current and future tax liabilities, tax planning should be a year round endeavor. Read more about this topic.

The Home Buyer’s Plan – Is It Right For Me?

If you are considering purchasing (or building) your first home, the Federal Government’s Home Buyer’s Plan is an option you may want to consider. This plan was first introduced in the 1992 Federal Budget to assist first time home buyers. Read more on this topic.

Advanced Age RRSP Planning

There are specific rules regarding RRSPs that require an individual to convert to a RRIF or used to purchase an annuity by December 31st in the year they attain age 71. This is also the last year in which you may contribute to an RRSP, or is it?

Age 71 does doesn’t necessarily mean that you will not continue to have “earned income.” If you do have ongoing earned income there are still a couple of RRSP planning opportunities.

Read more about this topic.

Spousal RRSPs - Understanding How They Work

RRSP time brings a number of questions including many on spousal RRSPs. This article will examine the use of spousal accounts and whether they are right for you. Read more about this topic.

The Estate Reallocation Strategy

The key to effective estate planning is to minimize estate tax and maximize the amount of wealth that is transferred to the next generation. But how? Life insurance offers a unique strategy. Read more about this topic.

What Happens to My RRSP When I Pass Away?

For most of us, RRSPs are one of our single largest assets. What happens to these on death is worth paying careful attention to. This article outlines some of the important considerations. Read more about this topic.