Retirement Income Planning – 10 reasons to consolidate your investments and financial advisors as you approach retirement.
In a recent conversation, I was asked if there are any advantages to consolidate their investments and financial advisors as they approach retirement.
Smart Tax Strategies for Retirees: The Four Types of Income in Retirement
Planning for taxes in retirement is like putting together a puzzle that is specific to each retiree. The type of income determines how it is taxed. Each year in retirement this must be reviewed to determine what is the best strategy that balances your current year’s income, and your long-term legacy plan. It is a […]
Smart Tax Strategies for Retirees: Take Advantage of Key Tax Credits
As a retiree, there are a few tax credits you should be aware of which may reduce your tax bill. Every dollar you save in tax means either more spending and/or preserving your wealth for you.
Medical and Health Care Options for Retirees
While working many Canadians have medical and health insurance as an employee benefit. Their company often pays for a substantial portion of the coverage, and most often medical and health insurance expires when you retire.
Kicking up Life Lessons and Fun with Football
Assante advisors are part of the fabric of their communities across Canada and they contribute to their local quality of life in a variety of ways.
Key Points for Wills and Powers of Attorney’s
Families during COVID-19 have realized that they should focus on concerns such as planning the family’s future. One of the most difficult challenges a Certified Financial Planner® has is to encourage clients to update and/or review their estate plan and documents. Often families tend to put this off, as it is not seen as urgent. […]
Smart Tax Strategies for Retirees: Tax Efficient Income Withdrawals
One of the most important decisions a retiree must make is how to create an income and cash-flow strategy from the financial assets they have accumulated over their lifetime.
Smart Tax Strategies for Retirees: Avoid the OAS Recovery Tax
It’s smart tax planning for retirees to arrange their income to avoid this clawback if possible. Some strategies to review are: Income split with your spouse/CLP (Common Law Partner) Tax effective non-registered investments Review the start date of your RRIF Use the younger spouse/CLP’s age for RRIF payments Use TFSAs Trigger large capital gains prior […]
Smart Tax Strategies for Retirees: Keep Track of Health & Medical Expenses
A smart tax strategy during retirement is to keep track of your medical expenses and take advantage of any credits that may be available.
Smart Tax Strategies for Retirees: Income Splitting
Income tax is one of the largest expenses any retiree has. A smart tax strategy to reduce a family’s overall tax burden is to split the income. This means to shift income from a spouse or common law partner (CLP) who is in a higher tax bracket to one who is in a lower tax bracket.
