Retirement
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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…
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I recently received an email from a reader with a bright financial future. They have a maxed out TFSA and has recently maxed out her…
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When I initially wrote this article about building RRSP wealth in your 30s, 40s, and 50s, my goal was to create an easy visual that…
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After writing a deep dive article on whether the 4% safe withdrawal rate still works for retirement at various ages, I received a lot of…
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This popular article was originally written in 2017, but since then, a couple of the calculators have gone offline. I have updated this article with…
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RRSP vs RRIF: Conversion, Ages, Penalties, Withdrawal Minimums
One of the main decisions that every Canadian retiree has to make is in regards to at what age they want to convert their RRSP…
Withdrawing From RRSP and TFSA For Retired Canadians in 2025
After writing a deep dive article on whether the 4% safe withdrawal rate still works for retirement at various ages, I received a lot of…
How To Retire Early in Canada
Have you ever thought about early retirement? Stopping work in your 50s (or earlier) and being able to relax and do the things you’ve always…
Buying a House in Canada – Why I Can’t Wait To NOT Be a Homeowner
By the end of the summer I will no longer be a homeowner. In many countries that statement would be a simple matter of personal…
Canada’s Purpose Longevity Pension Fund: Is It a Guaranteed 6.15% Pension for Life?
For many years Canadians had some excellent options when it came to determining where they were going to get money from in retirement. You had…
Have I Given Up on the Smith Manoeuvre?
Out of many investing topics written about on Million Dollar Journey, the Smith Manoeuvre was one of the first and among the most popular investment…
Snag Your Free Canadian Expat eBook
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…
Can You Have Too Much RRSP?
Since I’ve written about how much you need to save to reach $1M in your RRSP starting in your 30’s, 40’s, and 50’s, I’ve been…
Retirement Calculators – How Much Do You Need to Retire?
This popular article was originally written in 2017, but since then, a couple of the calculators have gone offline. I have updated this article with…
RRSP Deadline & Contribution Limit 2018/2019
RRSP Deadline/Contribution Limit For those of you coming here through Google search looking for the RRSP deadline for tax year 2018, the deadline is: March 1,…
How Much Do You Need to Retire in Canada? Not as Much as You Think!
For the traditional “retire at age 60 or 65” situation, the popular advice pushed by the financial industry is to save enough to replace 70%…
Cashing Out Your Pension: The Small Benefit Rule
Last time we discussed the Maximum Transfer Value (MTV). As you may know, we are in the midst of a pension crisis in Canada –…
How to Calculate Pension Maximum Transfer Value (MTV)
If you have a defined benefit pension plan, it’s important to understand what the Maximum Transfer Value (MTV) is and how it can affect you.…
7 Steps to Determine Your Optimal RRSP/TFSA Contribution Strategy
In the last article, we have looked individually at each of the six key factors for determining your optimum RRSP/TFSA contribution. In this article, we…
The Optimal RRSP/TFSA Contribution
Now that we are in RRSP season, you may be wondering “How much should I contribute to my RRSP?” The proper way to figure this…
A Primer on the Pension Benefits Guarantee Fund
In pension administration this is a question I hear quite often from plan members and with good reason. Private sector defined benefit pension plans are…
Pension Basics: The Commuted Value
If your employer provides you with a defined benefit (DB) pension consider yourself lucky. According a 2009 study by Statistics Canada, fewer Canadian employees are…
Should University Students Contribute to an RRSP?
Linda, a University student, is on the financial ball and considering starting her RRSP contributions but is wondering if it’s the best choice. Here is…
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