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The following is a guest post by Frank Wiginton CFP, FMA, CIM, FCSI. I want to start off by saying that I am not advocating anything that could get you put away! What I am recommending is that you speak with your parents about saving them thousands in taxes throughout retirement. Those who are in retirement may be paying too much in taxes on money they [...] Continue reading Get Your Inheritance Early – And Other Ways Your Parents Can Save Thousands in Taxes in Retirement The following is a guest post by Jim Yih, a fee-only advisor, best-selling author, financial expert, and syndicated columnist. Currently, Jim specializes in putting financial education programs into the workplace. For more information you can visit his websites at Retire Happy or Wealth Web Gurus. Variable Returns Create Timing Risk One of the problems of return projections in the financial industry is that most of the [...] Continue reading Variable Returns Can Work Against You in Retirement Retirement: It’s nice to get out of the rat race, but you have to learn to get along with less cheese. ~ Gene Perret Update: This article is featured in the Money Hackers Carnival #108 – Dare or Truth! at Eliminate the Muda. Thanks. I love that theme! It’s also included in the Carnival of Financial Planning Edition #133 by The Skilled Investor. Thank you! I’ve had a [...] Continue reading Should You Take Money Out of RRSPs to Pay Off Debt? Today, there are three kinds of people: the haves, the have-nots, and the have-not-paid- for-what-they-haves. ~ Earl Wilson Update: This post was included in the 245th Carnival of Personal Finance at Budgets Are Sexy. Thanks! RRSPs work best for the haves. The have-nots might be better off starting with TFSAs, and the have-not-paid-for-what-they-haves should pay down debt first. That would pretty much sum up my general view of [...] Continue reading RRSP vs. Paying Down Debt Life is not long, and too much of it must not pass in idle deliberation how it shall be spent. ~ Samuel Johnson Our series on RRSP Basics continues today with some information on how and when to take money out of your RRSP. Withdrawing Money Before You Retire The idea behind RRSPs is that you won’t be taking any money out until you retire. But as we all [...] Continue reading RRSPs: Taking Money Out |
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