Deferring public retirement benefits could add tens of thousands of dollars to retirement incomes| The Globe and Mail
Are you curious about how investing taxes are calculated on capital gains, dividends, and interest in Canada? I’m not a tax expert, but with tax loss harvesting season coming out, I figured it might be a good time to review some of the basics between how Canadian investment returns are taxed in your RRSP, TFSA, and non-registered accounts. Investing Taxes in an RRSP Let’s start with RRSPs. As you probably know, RRSP contributions and investment growth are taxable only upon withdrawal. A...| Million Dollar Journey
Canadians have fantastic options when it comes to registered accounts. Registered accounts are beneficial for many reasons, the main reason being that they are tax advantaged. Tax advantage accounts are those that allow you to grow your money tax-free or allow you to defer paying taxes until later. However, all registered accounts are not created equal, and before you invest, you want to read our detailed TFSA vs RRSP guide to better understand what these two registered accounts can do for yo...| Million Dollar Journey
Want to get paid a tax-free salary while working in a place where you don’t need to own a jacket or winter boots? Here’s the nuts-and-bolts behind how my wife and I are enjoying deduction-free salaries, and watching our tax-free investment portfolios grow, while living in a world-class city. If you’re a longtime reader of MDJ, then you might have been following along as two teachers decided to completely uproot their life in the middle of a pandemic. Since I began writing about our Qa...| Million Dollar Journey
The concept of a safe withdrawal rate (and the 4% rule) is a key planning tool for Canadians of all ages. After all, if you don’t have a general withdrawal plan, how can you know how much you need to save in the first place? If you have been reading MDJ for years, you already have an idea of how to use a Canadian online broker account to DIY-invest your way to a solid nest egg. Now you’re planning for retirement (whether it’s 20+ years away or next year) and you’re wondering how to ...| Million Dollar Journey
By postponing your CPP pension, you are essentially transferring some of the investment and longevity risk back to the government, Vettese writes| The Globe and Mail