My first RRIF withdrawal pushed up my taxes more than I expected and I’ve now been hit with quarterly instalment payments from the Canada Revenue Agency (CRA). I’m still working past age 71, like a lot of people these days, either by choice or necessity, on top of the mandatory withdrawal. I am not sure […]
Three types of payments are going out soon, and eligible Canadians should keep an eye on their bank account this week. Payments under the Canada Pension Plan (CPP) and Old Age Security (OAS), including the Guaranteed Income Supplement (GIS), both go out on the same day: Thursday, August 27. The CPP is followed by the […]
At the end of this year, The Wealthy Barber himself, David Chilton, is planning to retire. Ironically, he will do so at the traditional retirement age of 65, which he’ll reach late in October. He revealed this on his popular The Wealthy Barber podcast on June 10, 2026, which you can find here. Later that month, Globe Advisor reporter Deanne Gage […]
In the minds of investors young and old, artificial intelligence (AI) is an investing theme or trend that seems to be right up there with the birth of the internet and the dot-com craze, or indeed the long-ago Industrial Revolution. But over the last 12 months, according to a recent webinar on the topic, market reaction […]
If you’re someone near or at retirement, has a column like the one you’re now reading ever “finfluenced” any of your financial decisions? Increasingly, many Canadian investors are turning to a new generation of voices online, a trend that regulators are starting to watch more closely. A finfluencer is simply a financial influencer, a contraction […]
An unincorporated sole proprietor must contribute to the Canada Pension Plan (CPP) when they file their personal tax return. These contributions can be up to $9,292.90 for 2026. Some taxpayers may not even notice this, but line 42100 on a T1 tax return is CPP Contributions Payable on Self-Employment Income and Other Earnings. Contributions are […]
Not sure if you’re with the right online broker? Or perhaps you’re taking your first steps into self-directed investing and trying to make sense of an increasingly crowded marketplace? With more firms competing for your attention, more commission-free trading options and more marketing promises than ever before, finding the right brokerage can be challenging. That’s […]
Ask a Planner I attended a financial planning seminar and the presenter said you’re taxed so high on RRSPs when you die that your kids are only going to get half of it, which I already kind of knew. So, if you put it into these segregated funds, then you don’t pay tax. Should I be […]
If you’re close to retirement or are a pensioner trying to manage your monthly budget, it helps to know when your Old Age Security (OAS) benefits are paid out. The government publishes the payment dates and provides a wealth of information about the program, but you may still have questions. We’ll review eligibility, income limits, […]
In the increasingly specialized world of financial blogging, there’s a subgenre of so-called “FIRE” experts, who expound on the acronym FIRE. FIRE stands for Financial Independence Retire Early. Some proponents are in their 40s or 50s and practising what they preach, having either reached financial independence or are almost there. We describe some of them […]