Retirement
Everything you need to know on preparing for your retirement and retiring in Canada. Can you have too much RRSP? What are the contribution limits? How and when to withdraw from RRSPs and TFSAs? How to retire early, and what are the risks in that? How to use the Saskatchewan Pension Plan? Learn everything relating to pensions and retirement plans and read recommended bank reviews, on Million Dollar Journey, one of Canada’s oldest and most detailed Personal Finance blogs.
Most Popular
Safe Retirement Withdrawal Rate Strategies in Canada
The concept of a safe withdrawal rate (and the 4% rule) is a key planning tool for Canadians of all ages. After all, if you…
Maxed out RRSP and TFSA – Now What?
I recently received an email from a reader with a bright financial future. They have a maxed out TFSA and has recently maxed out her…
Withdrawing From RRSP and TFSA For Retired Canadians in 2024
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…
Building a $1,000,000 RRSP Starting in your 30’s, 40’s, and 50’s.
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…
Retirement Calculators – How Much Do You Need to Retire?
This popular article was originally written in 2017, but since then, a couple of the calculators have gone offline. I have updated this article with…
Most Recent
Home Equity in Retirement – Reverse Mortgages vs HELOCs vs Downsizing
Many retiring Canadians have a huge chunk of their net worth tied up in their housing equity. Deciding whether to tap into that housing equity through…
Best Financial Advisors in Canada
When looking for the best financial advisors in Canada (or best financial planners in Canada) you’re inevitably going to encounter a lot of confusion and…
EQ Bank Review 2024
EQ Bank Account Options and Interest Rates Account Type Interest Rate Best For Daily High Interest Account 2.50%* (Plus 1.50% if you direct deposit your…
Managing Money In Retirement – Investing with Cognitive Decline
Since writing Canada’s first online course that looked at how to create a DIY financial plan for your retirement, I’ve gotten a few inquiries about…
OAS in Canada: Clawbacks, Eligibility and Payment Dates
Old Age Security – better known as OAS – is one of the least understood aspects of Canadian retirement planning that I’ve come across. In…
How to Become a Millionaire in Canada
I am sure that most of us out there have wondered what’s the quickest way to get rich in Canada. While we don’t advise getting…
CPP Ultimate Guide – Eligibility, Payment Dates, Withdrawals & More
Most Canadians know the Canada Pension Plan as a government account they pay money into every month when they are working, and then when they…
Retirement Planning in Canada (RRSP Season)
With “RRSP season” and annual financial goal setting in full swing, Canadian retirement planners are out there in full force ready to “help”. Honestly, the…
Safe Retirement Withdrawal Rate Strategies in Canada
The concept of a safe withdrawal rate (and the 4% rule) is a key planning tool for Canadians of all ages. After all, if you…
"I've completed my million dollar journey...
Want some help with yours?”
Instantly download our free eBook on tips for how to organize your RRSP, TFSA, and other investments, in order to get the most out of your retirement at any age.