In the April 2011 issue of “Money Sense” a strategy for taking cash out of one’s RRSP at either a very low tax rate or even tax free was illustrated. The concept although not new, has merit and I thought I would share it with you this month. Essentially the strategy involves taking money out of your RRSP, transfer it….
The Guaranteed Lifetime Withdrawal Benefit product (GLWB) has received a considerable amount of attention with Baby Boomers lately as they begin the transition from savings accumulation to income generating products for retirement. The product, while not new, is actually an enhancement to existing segregated fund products. As retirement approaches one faces new financial planning issues and risks. A key concern….
Staying on course in one’s financial planning program is essential to ensuring your goals are attained within the time frame you have established. Many individuals don’t maximize the total potential of their portfolio or even worse have their plans come to a complete stop because they fail to monitor the progress of the program. If you know where you are….
Most taxpayers plan on making contributions to their RRSP at least once a year. But, how many individuals know when and how to begin withdrawing these funds? The reality of the situation is that at some point we are going to die and many people will pass still having large amounts of cash in these plans when they do so…..
For many investors the extreme volatility of the equity markets between 2007 and 2009 (and even until today-although on a lesser degree) continues to dominate their minds and many are now looking at alternatives to either eliminate this volatility or to mitigate risk totally. This sentiment of avoiding risk at all cost has led to a major shift from equity….