Monthly Archives: July 2014

Should you buy life insurance for your kid?

“Life insurance on children should be discussed as part of a comprehensive tax and estate planning discussion with parents, especially if there is a family medical history of things like cancer, heart problems, colitis, diabetes, etc.,” says Mark Halpern, president

Posted in Life Insurance

How to be rich (in happiness) in retirement

Two other factors have a bigger effect on happiness in retirement: the reason for retirement (voluntarily retiring, for example leads to happier people) and health, says Keith Bender, an economics professor at the University of Aberdeen. Melissa Leong What is the

Posted in Retirement Planning

The good news about the 4% withdrawal rule is that it might be too low

  Fred Vettese | July 22, 2014 If you plan to rely heavily on your savings in retirement, nothing is as important as determining how much you can safely withdraw each year. You don’t want to outlive your savings but

Posted in Retirement Planning

Majority say health will be biggest retirement expense: BMO poll

The Canadian Press – In this July 11, 2014 photo, primary care doctor John Guerreiro checks on the records of a patient at a clinic run by the Virginia Garcia Memorial Health Center in Beaverton, Ore. The center comprised of

Posted in Health Insurance

Canada’s RRIF withdrawal rules forces seniors to outlive their savings, C.D. Howe study finds

Jason Heath | June 3, 2014 | The federal government may have inadvertently been doling out some bad retirement planning advice in recent years. By age 71 at the latest, Canadians must begin withdrawals from their tax deferred retirement accounts

Posted in RRSP

Make sure you’re getting the maximum pension tax credit

By Jamie Golombek | June 25, 2014 If you receive pension income, you’re likely aware of $2,000 federal pension income credit which, when combined with its corresponding provincial/territorial credit, can be worth anywhere from $350 (B.C.) to nearly $700 (Quebec), depending

Posted in Retirement Planning, Taxes