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Getting the most out of your registered retirement savings plan (RRSP) isn’t just about maxing out your contribution limit every year. It’s also about carefully planning when to withdraw your savings. As a rule of thumb, the longer you can leave your money in the account, the better, allowing your savings to continue growing. When…

The holiday season is a popular time to reflect on the past year and donate to the causes you care about. These types of donations don’t just help people and organizations in need; they confer a potential tax benefit on the giver.  Here’s a look at the tax benefits of charitable giving and how to…

As part of your compensation package, your company might offer you stock options to supplement your salary. While they can be a valuable form of compensation, they also leave you with plenty of decisions to make about how and when to use them. It’s important to understand the ins and outs of stock options to…

The Unique Advantages of Health Care Spending Accounts  These accounts can pay you back for qualified health care expenses A health care spending account (HCSA), also known as a health spending account (HSA), is an employee benefit that offers reimbursement for eligible health care expenses. These accounts can help supplement existing coverage and fill in…

A Quick Look at the Canada Child Benefit If you’re raising children younger than 18, you may be entitled to monthly support Of all the challenges that come with parenting, the financial challenge can be the hardest to overcome. Fortunately, if you’re raising children in Canada, the government may offer you monetary assistance in the…

You’ve spent years planning and saving for your retirement. And then, out of the blue, your employer hands you an early retirement offer that could change everything. An early retirement, or “voluntary severance,” offer is a financial incentive to resign that an employer may offer to senior employees when they need to reduce payroll costs.…

Even with careful planning and diligent saving, some parts of retirement planning are out of your control. Factors like longevity, rising medical costs and the ups and downs of the market can have an impact on your savings. But while you can’t plan for the unexpected per se, there are ways you can manage these…

Climbing commodity prices, ambitious government spending packages due to the COVID-19 pandemic and the subsequent economic crash have resurrected a long-dormant fear: runaway inflation. But what is inflation, and is it something to worry about? A lot of the thinking surrounding inflation has changed over the years, and economists disagree on what causes it and…

Alternatives are investment options beyond the typical stocks, bonds and cash found in most portfolios. They can be tangible assets like precious metals, or they could be financial assets like private equity or hedge funds. Alternatives tend to be riskier than traditional assets, which means investors usually have to meet certain criteria to access them.…

Registered retirement savings plans (RRSPs) and tax-free savings accounts (TFSAs) are tax-advantaged accounts that can help you boost your retirement savings. Both accounts are designed for long-term growth, but they differ in how your contributions are taxed and when you can withdraw funds. Here is a breakdown of the differences between an RRSP and a…