Some members might not be sure about how Individual and Group RRSPs work. Here's a quick refresher sourced from the Canada.ca website: The Registered Retirement Savings Plan helps you save for retirement during your working years You can contribute 18% of your previous year’s income (total limit for 2020 is $27,230). The amount that [...]
We can all agree that this school year has been challenging and unpredictable. With so much uncertainty, it may seem ridiculous to even make plans for the next school year. But, things are looking up and September will be here soon enough, so it may be safe to start thinking ahead. And when it [...]
We all know that we need to have a strategy if we expect to reach our goals. The same can be said for saving for retirement. The idea is to define your retirement objectives and decide how you’ll achieve your savings plan. To get started, ask yourself: How do you picture life in retirement? [...]
As life slowly gets back to normal, we’re all looking forward to reasons to celebrate. In the coming months, an increase in weddings might be included in that list. So if you and your partner have been dreaming of when to have your big day, here are some financial conversations to consider before you [...]
On the surface, estate planning isn’t very exciting. But, it’s actually an important part of your financial plan. It ensures that your assets are protected and that your final wishes are carried out correctly. Here are five essential pieces that you should include in your plan: Consult with a financial advisor and other experts: [...]
Knowing the signs of identity theft is the best way to arming yourself against becoming a victim. So, what exactly is identity theft? It happens when somebody takes and/or uses your personal information, like your credit card number, driver's license, SIN, birthdate, to commit a crime like fraud. Luckily, there are things you can do [...]
When it comes to creating a robust retirement plan, a lot of us tend to put it off. One reason may be because it’s difficult to imagine what life will be like in five, 10, 20 years from now. Another possible reason is that we may become overwhelmed by the amount of information available about [...]
Outside of your RRSP, the TFSA is a great savings tool to help you achieve your short- and long-term goals. For example, let’s say you wanted to travel around Italy for three-weeks sometime in the near future — say, in five years. If you started with an investment of $25 and then added another $25 [...]
Most financial institutions have now updated their bill payee list to include Canada Life Group RRSP and Canada Life Group TFSA. This means you can make direct contributions to your RRSP and/or TFSA by setting it up as a bill through your online banking. Just search for “Canada Life” in the bill payments section of your bank’s [...]
We can all agree that it’s good that 2020 is finally over. It was a year of unprecedented volatility across all areas of life. And it shone a painful light on how carrying too much debt and too little savings can make everything even more difficult. The good news is that things are starting to [...]
