Would you like to access more tax-free cash flow in retirement? The largest asset that you have in retirement is your home, it represents a large chunk of dormant equity. It's like you have this piggy bank, but the money is trapped inside. . . .
Here are the 5 scenarios where you can withdraw money from a LIRA (Locked-In Retirement Account). The normal process for accessing the money inside a LIRA or LRSP to convert it to a LIF, which is a lifetime income fund, and start withdrawing. . .
Well, It's beginning to look a lot like Christmas. . . . and Christmas is the season of giving! I want to provide you with some valuable information on the advantages of charitable giving. The first advantage is that it is good for your health. . . .
Every dollar you save in taxes is not only an extra dollar that you have available to enjoy your lifestyle, but it is also a dollar you do not have to take from your retirement savings and it can be another dollar you can use to grow your. . .
A mutual fund is simply a basket of individual stocks managed by either a manager or a team of managers. The team will select various investments to hold inside of the fund in order to create a return for their investors. Typically the mutual fund. . .
There's one often overlooked way to grow your wealth and create more guaranteed returns - Reducing taxes. Way too many Canadians needlessly pay too much in income taxes. Mostly due to a lack of understanding of how our system works and a lack of. . .
One of the challenges for creating retirement income is that interest rate yields have dropped so much over the past 30 years and now taxes are increasing - it's what we call adding 'insult to injury'. If you are over the age of 60 this. . .
You would be crazy not to! If you retire and plan to live in your primary family dwelling, and it's completely paid for, then you should definitely consider setting up a home equity line of credit on it before you retire. One reason to do. . .
The truth is, most Canadians still do not understand what a TFSA is, never mind, what to do with it. A Tax Free Savings Account (TFSA) is an account that you can set up through most financial institutions in Canada. The government allows you to. . .