Is CPP and OAS enough for Retirement?

If not planned well, retirement days can be difficult.

Every Canadians is aware that basic benefits are granted by Government supported programs including Canada Pension Plan (CPP) and Old Age Pension (OAS).

1. But is that sufficient?
2. How much will be required to sustain a reasonable standard of living?
3. How to determine when to retire?

To obtain answers for these questions it’s important to grasp understanding of few key concepts:

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Does your heart-beat go up when the stock market goes down?

Stay Invested

1. Long term investment time-frame reduces risk of instability.
2. Historical data proves that the market may crash every few years but eventually recovers and grows further. Recently observed again the same behaviour this year.
3. Don’t panic when major indexes tumbles down. Selling your funds would be the worst decision during the bear market.

So stick around and watch your money grow.

Registered plans

Registered plans are designed to treat the income tax differently and promote the habit of saving money to meet future needs of Canadian.

1. Registered Retirement Saving Plan (RRSP)
2. Tax Free Saving Accounts (TFSA)
3. Registered Education Savings Plan (RESP)

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Get a slice of the cake

Are you an ‘owner’ or ‘consumer’ ?

Do you know giant size companies make profit on every dollar you spend, as a ‘consumer’, on day-to-day needs like groceries, gas, fashion accessories and more. And these companies share their profit with people like you and me;

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What is Estate ? Why do you need to plan it?

You are working hard to build your wealth assuming your kids will be able to enjoy when they grow-up and you are gone from this planet. Think again! How will CRA react when the next-generation ‘inherits’ this fortune.

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How to Maximize RRSP, Minimize Tax Without Stretching Wallet

The moment we hit Dec 31st, other than exchanging new year wishes with friends and family, we make a balance of what was earned and putting stress on your savings to somehow save some tax.
Most people heard about the Registered Retirement Plan (RRSP) which suddenly turns......

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RESP = Free Money; Take it! Group Plans - What’s the real benefit?

To support higher education costs, the government chip-in 20% under RESP. Most Canadians take advantage of this government grant or ‘free-money” but usually fail to understand what’s offered by major companies under the umbrella of Group RESP aka Scholarship Funds. Here is a detailed comparison. ......

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