Canada created the RRSP in the 1950s to give people without pensions another option to save money for the future. RRSPs started out less flexible than the current version but improved over the years.

The RRSP deadline is almost here, and the pressure to contribute is real. That sweet tax refund feels like a win but for retirees and near retirees, it can quietly trigger a pension clawback that ...

For most Canadians, saving money is an exercise in competing priorities. Every dollar can only be spent once. Mortgage payments or rent, groceries, an emergency fund, vacations, and everyday ...

Canadians are using their self-directed Registered Retirement Savings Plans (RRSPs) to build portfolios of investments that can provide retirement income along with company and government pensions.

The tax-free withdrawals of a TFSA offer more flexibility, but don’t offer a tax deduction like contributions to an RRSP. The type of account you choose will depend on your savings goals. Many or all ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of ...

Last Friday, I came home after work and Carolyn said to me, “Let’s go out tonight and have some fun.” “Sounds good to me,” I replied. “If you get back before me, just leave the light on.” Now, as it ...

A step-by-step guide to sequencing your withdrawals, minimizing your lifetime tax bill and protecting your government benefits ...

Many couples no longer use spousal registered retirement savings plans to even out their marginal tax rates, but some advisors say there’s still a place for them in specific client situations.

Lower-income Canadians often benefit more from prioritizing a TFSA, while higher-income earners may receive greater value from the RRSP tax deduction. RRSPs are generally better suited for U.S.