The household debt ratio rose in the second quarter of 2018. Canadians owed $1.69 in credit market debt per dollar of household disposable income.1 Demand for consumer credit increased while mortgage or non-mortgage loans decreased due to interest rate hikes. …
Millennials have time to activate a solid financial plan guided by a credentialed financial planner. They can reduce their student loans, begin to use credit cards wisely, and listen to educated financial mentors who hold the key to financial wisdom.
It is that time of year when you weigh your tax bill against the contributions to an RRSP which can be deducted from your taxable income. This allows you to pay less tax on the money you make, hence leaving more money to invest for retirement.
The Canada Pension Plan (CPP) provides contributors and their families with partial replacement of earnings in the case of retirement, disability or death. Almost all individuals who work in Canada outside Quebec contribute to the CPP. Calculating your CPP while …
A spousal RRSP account in your name belongs to you. By contributing to your account, a tax deduction can be claimed by the contributor minimising income tax payable currently.
Facts about an RESP A Registered Education Savings Plan (RESP) is a savings plan registered with the government that can help you save for your child’s post-secondary education. Money invested in an RESP grows tax-deferred. The government helps contribute to …
In Canada, the government allows a welcome tax break when you save for your child's education. As parents, we need to consider the effect that education will have on the future income and lifestyle of our children.
Every year we publish legislative and current updates to the Registered Retirement Savings Plan (RRSP) and Pooled Registered Pension Plan (PRPP) and Specified Pension Plan (SPP).
The widow population over the age of 65 is one of the fastest growing demographics facing poverty! Senior widows outnumber widowers four to one and represent about 45% of all women aged 65 and over.