Designing the Bomb Shelter Our last article described a "bomb shelter investing strategy" using an investment life insurance contract.Recapping this strategy, clients build a bomb shelter by investing into an investment life insurance (whole life) contract. These contracts cannot...
Read PostRetirement Mistake No.29: Not Buying Back Your Pensions
A common question among professionals, such as teachers or Provincial employees, is whether they should buy back their pensions or not.Take the case of Jason and Carol Anne. One is a teacher and the other works for the Federal Government. Both have strong pension plans but Carol Anne has...
Read PostRetirement Mistake No.28: Not Exploring Ways of Saving Thousands of Dollars through Tax Reduction
Do-it-yourself Tax Returns I have seen too many seniors try to cheap out on tax advice. If the cost of a professional is too high, stop complaining about high tax – because you are not even exploring the possibility of savings.Retiring Allowances Yesterday, Alex called from Nanaimo with...
Read PostRetirement Mistake No.26: The Ten Biggest RRSP Mistakes
I have seen the rise and fall of RRSP programming. I saw investors pour money into RRSPs trying to maximize every tax deduction and save for retirement. Today investors are wondering whether it is still a good idea. Remember, it is a tax deduction today, not at retirement. Here are some of the...
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