Retirement
It shouldn’t come as a shock that more and more Canadians from all generations are taking the time to look into online banking and high interest savings accounts these days. We’ve gotten over two-dozen emails in the last few weeks asking about our recommendations, as people look for an attractive place to park cash during…
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After becoming a client when they first launched over three years ago, I thought it was about time to pen the authoritative EQ Bank Review for Canadians to compare to their traditional branch banking services. I was even part of their early-access group before their popular EQ high interest EQ Bank Savings Plus Account was available…
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**Editor’s Note: With everyone obsessed over the tragedy enveloping our world and/or the stock market gyrations that it is causing, we decided to give readers a bit of a sunny break this week. If you want to read our personal finance/investing thoughts on the unprecedented current events, please see our thoughts about investing in the…
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After writing a deep dive article on whether the 4% safe withdrawal rate still works for retirement at various ages, I received a lot of questions basically asking: “Ok, so 4% is a good rule of thumb, but when I actually go to withdraw money from my various investment accounts, to put into my chequing…
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You’ve been reading MDJ for years, have used your Questrade DIY discount brokerage portfolio to accumulate a solid nest egg that includes your TFSA, RRSP, and perhaps even a non-registered account. Now comes the time to start your retirement drawdown or withdrawal strategy. Surprisingly, when it comes to discussing Canadian safe retirement withdrawal rates, and…
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A reader emailed me recently about being a low-income senior, but with some savings ability and was wondering if it makes sense to start an RRSP or a TFSA. The email did not include a lot of details, but for the most part, my answer would be the same – TFSA. The next question is…
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Since I’ve written about how much you need to save to reach $1M in your RRSP starting in your 30’s, 40’s, and 50’s, I’ve been getting questions from readers who have significant RRSP contributions. More specifically, can you have too much in an RRSP? I haven’t been able to find any good articles online that…
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I recently wrote about how you can build a comfortable retirement lifestyle even if you start a little late. The article included a couple of examples of an investor who starts in his/her 40’s and 50’s and still result in a comfortable middle-class retirement. But what if you want a little more during retirement? What…
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