Posts by Ted Rechtshaffen
The maximum OAS a couple can get is $25,600 in 2024. Here’s how to collect all of it
Old Age Security (OAS) is a funny part of Canadian retirement planning. Many Canadians assume they won’t receive it, or even if they do, they believe it won’t last many more years. The truth of the matter is that for a couple, it can generate as little as $0 or as much as $25,600 a…
Read MoreHere’s what it costs to live in a retirement home — and the bottom line is less than you might think
As my clients age, one of the key financial planning questions they ask is, “Can I afford to live in a retirement residence?” and the follow-up, “How much extra in expenses do I need to plan for?” Usually the answer to the first question is yes, and the answer to the second one is…
Read MoreTrudeau is right: 40% of Canadians don’t pay income taxes, which means someone else is picking up the bill
Many people were upset with Prime Minister Justin Trudeau this week for saying “low-income families don’t benefit from tax breaks because they don’t pay taxes.” Of course, some were upset because they felt it was untrue. But Trudeau was speaking the complete truth when it comes to income taxes (HST, realty taxes and other consumption…
Read MoreThese are the eight sources of retirement income you need to know about
In RRSP season there is a lot of focus on your RRSP — surprise, surprise. As most of you know, the RRSP will ultimately turn into a RRIF and be a key source of your income in retirement. What many people don’t always think about is other potential sources of retirement income. In our work…
Read MoreWhat investors should buy now if they like high yields and low prices
Timing the market is a tricky business. To do it really well you have to get three things right. You need to buy in at the right time, sell at the right time, and then reinvest your funds at a good time. Our view has always been that given that markets go up pretty…
Read MoreWhat a couple of kids at the CNE can teach the government about budgeting
In September everything is back in swing. Kids are back in school. Governments are back in session. Money will be spent on juice boxes and money will be spent on pipelines. Before the juice boxes get packed for school though, I had the pleasure of being at the CNE in Toronto with my son and…
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