Tax-free savings accounts are a relatively recent addition to Canadians’ financial tool kit. They may be not as well known – or understood – as other investment tools, but TFSAs offer an easy way for Canadians to accumulate wealth and plan for their financial goals.
Saving for a happy, comfortable retirement is one of the most common goals of personal financial planning for Canadians. A clear understanding of how RRSPs works, tips for picking the savings plan that works for you, and some common terms will help relieve the strain and set you up for success.
This is how a TFSA gets distributed in the event of a death, plus, info on making sure it is not subject to probate.
Money is on the move from one generation to the next with almost $700-billion in financial assets set to transfer by 2026, according to J.D. Power’s 2021 Canada Full-Service Investor Satisfaction Study. Without appropriate planning, just imagine the tax bill.
Charles wants to know if he should consider buying wealth insurance in order to maximize the after-tax value of his estate. The short answer is: It depends.
Despite concerns about premature death, most Canadians live longer than they think they will.
A MoneySense reader writes: I’m writing to ask about beneficiaries, successor holders and successor annuitants for TFSAs and RRIFs. What is the difference between these, and how do you choose the right one for each account?
Here are five factors to consider when making your choice.
What are the rules about RRSP carry forwards? Should you ever contribute the full amount?
If you have more money than you’ll need in retirement, consider putting these strategies to use.
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