Tag Archives: rrsp

A common retirement planning mistake

Retirement accounts are generally lauded for being tax friendly. But what if you’re a high income earner? 🤔 Can contributing to a tax advantaged retirement account hurt you instead of help you? Yes. I’ll demonstrate how in today’s post. A lot of readers here make over $100,000 a year. So let’s approach retirement planning from a taxation and… Read More »

Tax Freedom Day is Almost Here

By | 06/01/2018

Next week is Tax Freedom Day! This is the first day of the year in which Canada has earned enough income to pay its taxes. Every payment to the government of all levels that is officially considered a tax is counted. The purpose of having a tax free day is to provide tax paying citizens with a metric with which… Read More »

2017 Financial Goals

What’s 6 inches long and gets Kim Kardashian excited? That’s right. It’s money. 😀 Especially the one with Benjamin’s face on it. There is certainly no shortage of liquidity in the world today thanks to central banks. As investors, our priority is to increase our expected returns while reducing our anticipated risks. A good way to go about doing this is by… Read More »

Mar 2016 Fiscal Update – Net Worth Increased $21,700

Market Bounce Woohoo! Investors can rejoice as March 2016 was one of the best months for the stock market in recent memory. The S&P 500 and Dow Jones gained 6.9% and 7.1% respectively. Even the commodities-heavy S&P/TSX Composite in Canada managed to end the month 4.9% higher than it started. What do all these numbers mean? Well let’s pretend to be… Read More »

The Truth About Retirement Accounts

Retirement Account – Taxation Many folks should use tax deferred programs such as the RRSP or 401(k). Contributions made into a retirement account is tax-deductible and can grow tax-free in the account. When it is eventually withdrawn and taxed the plan holder will likely be in a lower income tax bracket. I would personally try to keep investments that produce mostly capital… Read More »