RRSPs are designed to help you save for retirement. According to Canada Revenue Agency rules, you must close your RRSP by the end of the year in which you turn 71, although you can certainly do so earlier if you're ready to begin generating income from those savings.
“You can’t take it with you.” That’s why it’s common practice for older generations to transfer their wealth to their families, friends, or charities upon their death.
"We are what we repeatedly do," said Aristotle. "Excellence comes not from our actions but from our habits." Good habits can help you be a better investor, and these five good habits can help you successfully invest for your retirement.
Most people look forward to the freedom of retirement, but it may seem unsettling at first. If you think about it, you spend many years working hard and saving for the future. When you retire, the future is now!
The concept of “safety in numbers” is well ingrained in human behaviour. For instance, if your town was being invaded by marauders, it helped if everyone banded together to fend off the attack.
Single women solely responsible for covering their own expenses could face more precarious financial conditions than those in a dual-income home.