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Life Income Funds (LIF): Understanding Registered Retirement Income Funds
What is a LIFA Life Income Fund is a Registered Retirement Income Fund (RRIF) that was purchased with locked-in funds. If you worked for a company with an employer pension plan, terminated employment
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Your Complete Guide to Retirement Planning: A Step-by-Step Approach
Retirement may be something you’ve been fantasizing about ever since the day whatshisname in accounting swiped that leftover slice of pizza you were saving from the office fridge. You’ve probably alre
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CPP Retirement Dates & 2022 Payments: Calculate Your Pension
The Canada Pension Plan (CPP) is a government-led retirement program that launched in 1965 to help add a little more shine to your golden years. It was originally meant to provide you with 25% of your
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Registered Retirement Income Funds (RRIF): Your Guide to Retirement Income
So, what is it exactly? RRIF stands for Registered Retirement Income Fund. It’s essentially a basket of investments—you can choose from GICs, mutual funds, ETFs, or stocks and bonds—that earns money d
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Understanding LIRAs: Your Locked-In Retirement Account Explained
So, what is it exactly? Say you’re one of the lucky Canadians with a company pension. You’re about to get a new job, but you’re worried about what you’re going to do with your pension. Sounds like you
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RIF vs. RRIF: Understanding Retirement Income Fund Options
There sure are lots of short forms in finance and they can be confusing. Here’s the scoop on RIFs, RRIFs, LRIFs.What is a RIFRIF stands for Retirement Income Fund. In general terms, it refers to any r
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Effective Retirement Strategies: Planning for Your Financial Future
So you’ve been dreaming about the retired life ever since the day whatshisname in accounting swiped that leftover slice of pizza you were saving in the office fridge. You’ve probably already got retir
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Understanding RRIF Withdrawals: A Guide for Canadians
You’ve spent many years carefully putting money aside in your Registered Retirement Savings Plans (RRSPs). Now it’s time to start withdrawing those funds. Here’s what you need to know.RRSPs must be co
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Retirement Planning for Part-Time Workers: A Comprehensive Guide
Work. Even though we know we have to work until we are financially independent, many of us have a love-hate relationship with it. We love the money we earn, but we arent always thrilled with ou
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Prioritizing Your Savings: Which Goals Should Come First?
Youve been working hard to cut expenses and quit living paycheck to paycheck. You negotiated a raise or landed a higher-paying job. Your side gig is creating a buffer in your budget. No matter
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Strategic Investing: Lump Sum vs. Dollar-Cost Averaging
It’s the week your big bonus from work hits your bank account. Or you receive a sizeable cash gift or inheritance from a relative. Perhaps you have proceeds from the sale of your home or cash f
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Retirement Savings Strategies for Sandwich Generation
If you’ve asked yourself how you’ll save for retirement while also financially helping your kids and parents, you’re not alone. A few years ago, the Pew Research Center reported that almost hal
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AgeUp Review: Secure Your Retirement with Financial Planning
This post is sponsored by Haven Life. There’s a good chance you have family or friends who have lived into their 90’s. Or maybe even a few to age 100 or beyond! The Social Security Administr
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SEP IRA Eligibility: Who Can Open One in 2024?
A good part of the working population in the United States has some type of retirement plan investment account. Most individuals contribute to either an employer-sponsored retirement plan like
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Bank IRAs: Understanding the Differences & Considerations
Most people have some knowledge about the concept behind an Individual Retirement Account (IRA). What most people dont know is there are material differences between IRAs offered by banks and c
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Tax Strategies for Retirement Accounts: Maximize Your Savings
Some parts of this blog were updated on March 14, 2018 It’s that time of the year again – tax time! It’s rarely anyone’s favorite time of the year. But what if this time, you approached taxes di
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Annuities: Are They the Right Retirement Income Solution for You?
Some parts of this blog were updated on March 14, 2018 If you could purchase one product that promised to give you a steady income for life and take the worry out of outliving your assets, would you j
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Strategic Savings: College & Retirement Planning for Parents
College is expensive and today’s parents are learning they need to save early and often to cover the costs. As a result, many of them are faced with the challenge of saving for a comfortable retiremen
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College Savings & Retirement Planning: A Case Study
The Situation Sam and Bailey are married with three young children. The couple, who are both doctors in their mid-30s, live in Colorado which is one of the handful of states that offers a generous unl
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2018 401(k) Contribution Limits: Maximize Your Retirement Savings
It’s a new year, so it’s time to consider boosting contributions to your employer-sponsored retirement savings plan—and the federal government is willing to help (a little.) The maximum contribution h
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Common Money Drainers: Pets, Cars & Unexpected Expensesdiv.cust...
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Dollar-Cost Averaging (DCA): A Beginner's Guide to InvestingThe three videos scheduled for today were going to cover hedge funds. After watching them, however, I’ve decided they’re not necessary for basic financial literacy. Unless I’ve missed something, hedg...
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Top 7 Fidelity Retirement Funds for IRA InvestingFidelity is one of the most ubiquitous names in retirement planning. As I’m writing this, Fidelity boasts more than 52 million accounts dedicated toward retirement saving, including workplace plan...
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Diversify Your Income: 7 Proven Methods for Multiple StreamsDisclosure: This post may receive compensation from partners listed through affiliate partnerships, at no cost to you. This doesn’t influence our ratings, and the opinions are our own. Learn more here...