Canadian RRSP's – I want to cash some in, implications?
I want to cash in some RRSP's. Can I just transfer the money from my RRSP account to savings account or do I have to get it signed off or something.
Do I have to report on next years taxes? Will the bank send me a notification for that next year?
I also have to make Home Buyer Plan repayments into my RRSP account each year. How will this be affected? Can I just take out that much more and put it right back in to get the credit?
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I hope you’ve been enjoying my posts lately. I thought I might do something different today and rustle up a few bits of info from around the WWW. These are some of the news items and blog posts that have been popular over the last few weeks. Leave me your thoughts.
Mexico Real Estate: Right Choice For Baby Boomers | Global Resorts …
And since decline in the prices of Read the rest of this entry »
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Where can I find an online RRSP tax savings calculator?
Yahoo! Canada features a calculator from MoneySense.ca here:
http://ca.pfinance.yahoo.com/
Other sites for calculators:
http://finance.sympatico.msn.ca/retirement/tools/rrspcalc.asp
http://www.fiscalagents.com/toolbox/index.shtml#tb2
For really good general info on RRSP visit the Canada Revenue Agency: http://www.cra-arc.gc.ca/tax/individuals/topics/rrsp/rrsps-e.html Read the rest of this entry »
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I hope you’ve been enjoying my posts lately. I thought I might do something different today and rustle up a few bits of info from around the WWW. These are some of the news items and blog posts that have been popular over the last few weeks. Leave me your thoughts.
Retirement Home « Sara Arizona
Reading this I realize that as a child I likened visiting the retirement home to visiting the zoo. I would go with my family, there was a distinctive smell, and I would observe my great aunts, great grandmother, …
Fla. nursing home watchdogs see turmoil in agency
Fla. nursing home watchdogs see turmoil in agency. WEST PALM BEACH, Fla.
Feel Young All Over Again at Active Retirement Community in Long …
If your folks are thinking retirement, don't assume they will be moving into a nursing home. That particular notion of retirement belongs to another generation entirely. Most of today's seniors came of age during a time …
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Ok so 3 more posts today that I’ve dug up – I’m an information JUNKIE on this stuff lately. Give em a browse and let me know what ya reckon. They’re just from a few different sites I’ve been surfing lately that are generally good for information like this…
Mortgage Loan Rates | Investing For Retirement With Your Home
Even with the recent depressed housing market, the Read the rest of this entry »
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Back with more news for you today. It’s amazing how much good information there is on this stuff out there if you know where to look. Three in particular that I found really valuable were…
Test drive your retirement home :Your Desert Blog
Test drive your retirement home. Posted by Judy Horn. May 22. Saddled with vacant units, retirement communities across the country are tryingto lure new buyers by any means necessary – from adding cushy amenities andspecial move-in …
Time to buy retirement home? | The Bottom Line financial blog …
Even if you're not ready to move today, consider snapping up your retirement home while the pickings are good. Some families are even banding together to buy places. Make sure you know your partners! …
Tax Benefits of Home Ownership | Retirement Help– 800-900-5867 …
Tax Benefits of Home Ownership. In tax lingo, your principal residence is the place where you legally reside. It's typically the place where you spend most of your time, but several other factors are also relevant in …
Hope you enjoy the read as much as I did and please if you have something to say, use the comments form below to let everyone know your thoughts.
Have a great day!
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Back with more news for you today. It’s amazing how much good information there is on this stuff out there if you know where to look. Three in particular that I found really valuable were…
Test drive your retirement home :Your Desert Blog
Test drive your retirement home. Posted by Judy Horn. May 22. Saddled with vacant units, retirement communities across the country are tryingto lure new buyers by any means necessary – from adding cushy amenities andspecial move-in …
Time to buy retirement home? | The Bottom Line financial blog …
Even if you're not ready to move today, consider snapping up your retirement home while the pickings are good. Some families are even banding together to buy places. Make sure you know your partners! …
Tax Benefits of Home Ownership | Retirement Help– 800-900-5867 …
Tax Benefits of Home Ownership. In tax lingo, your principal residence is the place where you legally reside. It's typically the place where you spend most of your time, but several other factors are also relevant in …
Hope you enjoy the read as much as I did and please if you have something to say, use the comments form below to let everyone know your thoughts.
Have a great day!
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A retirement community is a perfect place for active adults who no longer work. Adults in retirement communities can choose to reside in differing styles of accommodation such as self catering apartments or villas. In terms of the number of village communities in Australia, NSW has the most, with around 550 retirement villages catering to more than 40,000 retirees. Read the rest of this entry »
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Many investors, look toward retirement with rose colored glasses and not much more. They tell themselves they are doing the best they can, but is this really enough?
In The 6 Pitfalls of Retirement Investing, we count the “lack of planning” as the number two pitfall of retirement success. Why? Because of the fact that we have witnessed countless individuals who think they have a retirement plan in place, but have never actually taken the time to fully understand or properly analyze their investment strategies for themselves.
More often than not, an individual will rely on the advice of an unscrupulous financial advisor or investment broker without having a full understanding for themselves. This rather blind way of thinking often leads to financial ruin.
You Can Start Now
So, what’s the answer here? Possibly you are new to the concept of financial investment strategies. Maybe you have a nest egg started, or maybe you are in your 50′s and are trying to scrimp and save in order to play catch-up. Whichever end of the spectrum you are coming from, the bottom line is this: You are starting to think about your retirement. You are wondering about the potential success or failure of your planning (or lack of planning). We’ve got good news. That’s a perfect place to start. You are already miles ahead of many, who are either fully relying on what they already have in place or are living in denial, hoping that somehow, things will magically fall into place for them.
Starting from the beginning, let’s take off the rose colored glasses. Here are 4 steps to get you on the right track to sound financial planning, regardless where you are right now.
• Step 1: Stop Blindly Relying on Your Broker – If you are currently using an investment broker or financial advisor, it’s time to “re-interview” them. You can start by downloading our Full Disclosure and Transparency Fee Chart. Understanding how your money is being handled and exactly what fees you are paying is the first step in this journey. Why? Because by presenting this disclosure to your brokerage firm you will instantly gain insight into the integrity of the company that is handling your finances. If your broker gladly complies, you can move on from there. If not, it may be time to find a new investment broker. Being actively involved in your finances and investments, and demanding a higher level of commitment and disclosure from your broker will start you on the right path to financial and retirement success.
• Step 2: Understand Where You Stand & How Reachable Your Current Goals Are – Statistics and psychological research have proven that vague goals, such as, “I want to retire comfortably when I am 65″ are doomed to fail, unless more specific goals are coupled with them. Again, with investing and financial planning, half the battle is fully understanding all the variables involved in your unique financial situation. Often, individuals don’t fully examine their retirement goals or assess how they are working so far simply out of fear of what they will find. Pushing past this mentality and having a solid plan for your future is well worth facing your fears. Isn’t it better to find out now, while things can be corrected?
• Step 3: Know What’s Important – Often, we get tossed around by the news, the current Dow Jones Averages, predictions surrounding the recession, and other factors that are subject to change. Don’t try to plan your financial goals or retirement success around circumstances that are subject to change. Instead, focus on savings, staying out of debt, maintain your insurance, and keep your estate planning in order. While it is true that you can’t control the economy or fluctuations in the market, you can control how prepared you are to face these challenges.
• Step 4: Assess and Reassess – The investment strategy you followed when you were in your 40′s should not be the same one you are following in your 50′s. Just as you would check the soundness of your home after a major storm and make plans for a new roof after a certain length of time, you must also keep up with the way you are seeing your investments. Make it a habit to meet with your financial advisor for periodic reviews. Age, changes in health, changes in assets, the economy or family crisis all have an impact on the way you look at your investments and your retirement plan. Review often and plan accordingly.
There is no time like the present to sit down with a qualified financial advisor and take a look an honest look at your financial future. We’ve said it before and we will say it again…Your future does not have to be uncertain.
Whether you are brand new to retirement planning or a seasoned investor, we’d love to hear from you. We are here to answer your questions and put you on the path to success.
More simple, step-by-step keys to financial success can be found by grabbing your free copy of 6 Pitfalls of Retirement Planning.
Coming from the industry as an Investment Advisor, Bryan explains investing and financial planning with a fresh, insider approach that allows individuals to take charge of their own future. His unique style cuts through industry jargon and provides clear, easy to follow steps.
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How would you react if Sam, your financial advisor, came to you with a strained smile stretched across his chubby cheeks and said, “Remember that money you asked me to invest?”-you had invested $100,000 with him to build your retirement-”Well, umm…I don’t have it anymore. I gave it to someone else to make good on a promise.”
You almost lunge for him but for his placating Read the rest of this entry »
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