The RRSP: Why Are We Falling Short? Debunking Two Myths
While many of us are unhappy about the high taxes we pay, one way to ease the burden is by fully using tax-advantaged accounts. Yet RRSP participation rates have declined over the past two decades, from 29.1 percent of taxpayers in 2000 to just 21.7 percent in 2022. The good news is that high-income earners […]
For 2026: Make Estate Planning a Priority
Happy 2026! If improving your financial well-being is on your list of New Year’s resolutions, a great place to start is with your estate plan. A comprehensive plan ensures your assets are distributed according to your wishes, while helping to maximize the legacy you leave behind. If you already have an estate plan in place, […]
Eight Tax-Smart Ways to Access Your RRIF Withdrawals
As the year draws to a close, many retirees turn their attention to mandatory Registered Retirement Income Fund (RRIF) withdrawals. This year, there is added anticipation about whether the federal government will follow through on its election promise to reduce 2025 RRIF minimum withdrawals by 25 percent. At the time of writing, no announcement has […]
Feel As Though You’re Paying More Tax?
Despite rising living costs, the share of income spent on necessities has declined. In 1976, households spent about 43 percent of their income on shelter, food and clothing. Today, this has fallen to around 35 percent. What has risen is the share we pay to taxes.1 In 2025, the average Canadian family paid 43.1 percent […]
The Rising Cost of Education
If you’ve eaten fast food recently, you may be surprised by the bill. Thirty years ago, a Big Mac hamburger cost around $2. Today, it is almost four times the price. Over the same period, average family income has risen by 162 percent, while the Consumer Price Index (CPI), the official measure of inflation, increased […]
Safeguard Your Finances Against Fraud
As we enter the summer, why not resolve to better protect your financial security? Financial fraud continues to be on the rise and scams have become increasingly sophisticated. Scammers continue to seek financial gain by stealing identities, accessing login details, acquiring personal financial information and obtaining funds through false pretenses. “Phishing” remains one of the […]
Advice for New Grads – And Old Grads Alike!
If you want to change the world, start off by making your bed.” – Admiral William H. McRaven In 2014, Admiral William McRaven delivered a commencement speech that quickly went viral, amassing over 10 million views. In it, he shared 10 principles he learned during his grueling Navy SEAL training – lessons that helped him […]
The New Canada Disability Benefit
What is the Canada Disability Benefit? Launched in June 2025, the Canada Disability Benefit (CDB) is a new federal program providing monthly financial support to working-age Canadians living with disabilities. The benefit aims to reduce poverty and provide greater financial security for those who may face additional living costs related to their disability. Who is […]
RRSP Contribution Time: Don’t Overlook the Spousal RRSP
It’s RRSP season once again! Over the decades, the federal government has eliminated many income-splitting opportunities available to taxpayers. However, if you have a spouse/common-law partner, don’t overlook the spousal Registered Retirement Savings Plan (RRSP) — a valuable opportunity to split income at retirement if your spouse will be in a lower tax bracket at […]
Higher Rates for Longer? Mortgage Debt & The Great Renewal
It has been termed “the great renewal”. A significant number of Canadian mortgages are coming up for renewal. By one account, around 2.2 million mortgages or 45 percent of all outstanding mortgages, are set to face higher interest rates this year and next.1 Even though the Bank of Canada cut interest rates in 2024 as inflation continues […]