Turning Your LIRA Into Retirement Income

A reader suggested I expand on my post on converting RRSPs to RRIFs to include locked-in plans. So here it is. Thank you, Frank. What is a LIRA? First, let’s review. Employees enrolled in a registered pension plan who remain with their company until the...

What Hobbies Are On Your Retirement Bucket List?

Remember going to a craft and hobby show, or looking through a magazine, and seeing in your mind’s eye all those great projects you could make? Or watching the sports channel and dreaming about aces, holes-in-one, or the salmon you could catch? When most of us imagine...

Retirement Planning Advice For Singles

Retirement planning advice for singles is similar to that for couples – track your expenses, clear up debt, automate your savings, and keep investment costs low. However, being single, whether by choice, or as a result of being widowed or divorced, presents some...

How To Convert Your RRSP To A RRIF

When I worked in banking, on December 31 we usually closed the branch at 3 pm so us bankers could get a head start on our New Year’s Eve partying. One year, at about 2:55 pm, a fellow sat down in my office and told me he needed to convert his RRSP to a RRIF. He had...

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