Planning
Here is a simple example to help explain. Joe: Annual Salary: $50,000 Income Tax Paid: – $11,036 After-Tax Income: $38,964 An allowable RRSP contribution can be deducted From your income. In other words your income will be lower when calculating how much income tax you owe for the year. If your income is…
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By Brenda Spiering birghterlife.ca Can you imagine what would happen if you died and your beneficiaries didn’t know where to find your will? Or your money? It happens all the time according to Jim Yih, author of the personal finance blog, retirehappy.ca: “When someone dies, there are a whole bunch of questions that need answers…
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Everyone has that uncle, or best friend, who has a hot stock tip or who can get you in on the ground floor of the latest thing since the iPod. Are they right? Will they help make you financially secure? Maybe. But are you willing to risk your financial future on it? If you’re like…
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Recovering from a serious illness can come at a significant cost. If it happens to you, how will you pay for it? Imagine this: You’ve just been diagnosed with cancer. While your doctors say your chances of a cure are good, the weeks and months of treatment and recovery you’ll need can come at a…
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Let’s talk about…the importance of naming a beneficiary for your life insurance policy In Canada, after you pass away, the proceeds of your estate can take one of two routes. Proceeds can pass seamlessly from you to your loved ones or they can enter the probate system. The probate system can take a lot of…
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By Jo Coughlin brighterlife.ca Thanks to good nutrition and medical advances, Canadians are living longer than ever before. But will our savings last as long as we do? Today, many of us can expect to live into our 80s, 90s, and some us even into our 100s. . . When you add up today’s long…
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