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Canada Basic 101: Registered Retirement Savings Plan (RRSP) for Canadian...

Today, we are reviewing the Registered Retirement Savings Plan (RRSP) which is very terribly named because you should ABSOLUTELY not use it for savings, but for INVESTING. Who can contribute You have...

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Canada Basic 101: Tax-Free Savings Account (TFSA) for Canadian Investors and...

Today, we are reviewing the Tax-Free Savings Account (TFSA) which is very terribly named because you should ABSOLUTELY not use it for savings, but for INVESTING. Who can contribute You have to be 18 to...

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RRSP versus TFSA: Which one should you contribute to in Canada?

This is the age-old debated question: WHERE SHOULD YOU PUT YOUR MONEY?!!!! Well, here’s a quick guide: RRSP in 2020 18% of income Maximum of $27,230 You can be any age to contribute as long as you earn...

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Canadian PSA: If you’re an employee who worked from home, you can claim a...

Don’t forget to get your money (max: $400) for home office expenses if you’re an employee who worked from home for more than 50% of the year, for at least FOUR CONSECUTIVE WEEKS. Applicable ONLY to...

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Canada Levels of Wealth: Top 1% in Net Worth by Age & Income in Toronto,...

Canadian net worth is a little trickier to pin down because all the surveys and info are so U.S.-centric. That said, KA came up with a great way to triangulate how to figure out net worths in Canada....

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Overview of the Canadian Pension Plans and Retirement Benefits in Canada

Today we will de-mystify how much you get from Canada as a pension plan. This is NOT including your retirement pension plans from your employer, your RRSP or TFSA earnings or savings. This is simply...

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What is Old Age Security (OAS) and why would I have to pay it back?

Old Age Security (OAS) is money you may get from the Canadian government in retirement. There are 3 government pension plans in Canada: Canadian Pension Plan (CPP) Old Age Security (OAS) Guaranteed...

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Perspective: How much people have saved for retirement by age (informal)

Completely informal poll, a cumulative effort of a poll by Alyssa of Mixed Up Money‘s stories, a fellow Canadian and advocate for all things money & equality, I created a chart and a table with our...

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Investing Primer: How to get a dividend income or invest in dividend stocks...

So part of my investing strategy is to get income (passive) on the side from dividends: “But where do I buy dividends?” …is a very common question I get. I just want to clear up a few things before I...

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Average Net Worth by Age in Canada (& Growth between 2019 versus 2020)

Net worth benchmarking has always motivated me. Yes, I can feel jealous or “ugh why am I not here”, sometimes, but it helps me see that maybe, I could aim for the moon but land among the stars. So I...

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