The Canadian's Guide to Retirement Planning
2nd Edition
Book
Hardback
192 pages
978-1-119-89264-9 (ISBN)
Description
Retire Well, The Canadian Way
Don't wait until retirement is just around the corner before you start planning for it. The sooner you start, the better shape you'll be in when the big day finally arrives! In this updated edition of The Canadian's Guide to Retirement Planning, a personal finance expert delivers an easy-to-follow handbook for managing your money at every age and stage. You'll learn all about RRSPs and TFSAs the twin foundations of any effective Canadian retirement blueprint. You'll also find out about other investment options and tax breaks you can lean on when the time comes.
- Optimize your RRSP contributions and withdrawals
- Match your retirement savings and investing strategies to your risk tolerance and goals
- Avoid over-or under-contributing to your retirement accounts
- Utilize foreign investments to expand your next egg even further
- Make good retirement decisions now and avoid being surprised late
Don't wait until retirement is just around the corner before you start planning for it. The sooner you start, the better shape you'll be in when the big day finally arrives! In this updated edition of The Canadian's Guide to Retirement Planning, a personal finance expert delivers an easy-to-follow handbook for managing your money at every age and stage. You'll learn all about RRSPs and TFSAs the twin foundations of any effective Canadian retirement blueprint. You'll also find out about other investment options and tax breaks you can lean on when the time comes.
- Optimize your RRSP contributions and withdrawals
- Match your retirement savings and investing strategies to your risk tolerance and goals
- Avoid over-or under-contributing to your retirement accounts
- Utilize foreign investments to expand your next egg even further
- Make good retirement decisions now and avoid being surprised late
More details
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Previous edition
The Experts at Dummies
The Canadian's Guide to Retirement Planning, Indigo Exclusive
Book
1st Edition
Wiley
€19.80
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Person
ANDREW DAGYS, CPA, CMA, is a professional accountant and the bestselling author of more than a dozen books on investing, financial planning, and technology.
Content
1 Getting Started with Your RRSP 1
Understand How RRSPs Work 2
How to Get Motivated to Make RRSP Contributions 6
How to Determine Your Contribution Amount 11
Monthly Contributions versus Lump-Sum Payments 19
When to Claim Your Deduction 26
2 What to Expect from Your RRSP 29
Increasing Your Returns 31
Don't Forget Inflation 32
How Much Will You Need? 34
The Importance of Paying Attention 37
Reducing Your Family's Tax Bill with a Spousal RRSP 40
Considering Government Benefits 43
A Pledge of Your RRSP as Collateral 44
If You Leave the Country 45
3 Your RRSP Strategy 47
Types of RRSPs 48
Allocating Your Money in Retirement Plans 50
How to Match Your Investment Mix to Your Goals 52
Finding Your RRSP Contribution Dollars 63
Overcontributions Can Pay Off 64
Reviewing Your Progress 65
Does It Make Sense to Invest in Your Employer? 66
4 Investing in TFSAs and Other Retirement Plans 69
How to Get Started 70
Tax-Free Savings Accounts 73
Registered Disability Savings Plans 78
Taxes on Your Investments 82
How to Fortify Your Emergency Reserves 83
Longer-Term Investing (Several Years or Decades) 91
5 Investing in a Retirement Property Abroad 99
Whether to Invest Abroad: It's Not All about the Numbers 100
Your Budget Considerations 102
Financing Your Purchase 104
Your Risk Profile 106
How You'll Manage Your Property 111
Where Should You Invest? 112
Focus on One or Two Key Markets 117
The Concept of Serviced Accommodation 118
The Pros and Cons of Serviced Accommodation 124
The Level of Service to Offer 132
How to Source Serviced Accommodation Properties 136
6 Help with Home Buying, School, and Emergencies 141
Why Your RRSP Shouldn't Be an Extra Bank Machine 142
Going Back to School? Your RRSP Can Help 146
The Home Buyers' Plan and Your RRSP 147
The Thought of Bowing Out Early 152
7 Life after RRSPs: Retirement Income Insights 155
Your Retirement Building Blocks 156
The End of Your RRSP as You Know It 163
Annuities 169
Unlocking Locked-In RRSPs and Retirement Accounts 173
Is a Reverse Mortgage a Good Idea? 174
Don't Neglect Non-Financial Preparations for Retirement 178
Understand How RRSPs Work 2
How to Get Motivated to Make RRSP Contributions 6
How to Determine Your Contribution Amount 11
Monthly Contributions versus Lump-Sum Payments 19
When to Claim Your Deduction 26
2 What to Expect from Your RRSP 29
Increasing Your Returns 31
Don't Forget Inflation 32
How Much Will You Need? 34
The Importance of Paying Attention 37
Reducing Your Family's Tax Bill with a Spousal RRSP 40
Considering Government Benefits 43
A Pledge of Your RRSP as Collateral 44
If You Leave the Country 45
3 Your RRSP Strategy 47
Types of RRSPs 48
Allocating Your Money in Retirement Plans 50
How to Match Your Investment Mix to Your Goals 52
Finding Your RRSP Contribution Dollars 63
Overcontributions Can Pay Off 64
Reviewing Your Progress 65
Does It Make Sense to Invest in Your Employer? 66
4 Investing in TFSAs and Other Retirement Plans 69
How to Get Started 70
Tax-Free Savings Accounts 73
Registered Disability Savings Plans 78
Taxes on Your Investments 82
How to Fortify Your Emergency Reserves 83
Longer-Term Investing (Several Years or Decades) 91
5 Investing in a Retirement Property Abroad 99
Whether to Invest Abroad: It's Not All about the Numbers 100
Your Budget Considerations 102
Financing Your Purchase 104
Your Risk Profile 106
How You'll Manage Your Property 111
Where Should You Invest? 112
Focus on One or Two Key Markets 117
The Concept of Serviced Accommodation 118
The Pros and Cons of Serviced Accommodation 124
The Level of Service to Offer 132
How to Source Serviced Accommodation Properties 136
6 Help with Home Buying, School, and Emergencies 141
Why Your RRSP Shouldn't Be an Extra Bank Machine 142
Going Back to School? Your RRSP Can Help 146
The Home Buyers' Plan and Your RRSP 147
The Thought of Bowing Out Early 152
7 Life after RRSPs: Retirement Income Insights 155
Your Retirement Building Blocks 156
The End of Your RRSP as You Know It 163
Annuities 169
Unlocking Locked-In RRSPs and Retirement Accounts 173
Is a Reverse Mortgage a Good Idea? 174
Don't Neglect Non-Financial Preparations for Retirement 178