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

Ultimate Guide To Safe Withdrawal Rates In Canada

Safe Retirement Withdrawal Rate Strategies in Canada

By Kyle Prevost January 10, 2024

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 tfsa

Maxed out RRSP and TFSA – Now What?

By FT January 5, 2024

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…

Accounts For Retired Canadians

Withdrawing From RRSP and TFSA For Retired Canadians in 2024

By Kyle Prevost December 3, 2022

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

Building a $1,000,000 RRSP Starting in your 30’s, 40’s, and 50’s.

By FT July 8, 2019

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…

How Much Do You Need To Retire Calculator

Retirement Calculators – How Much Do You Need to Retire?

By FT June 2, 2019

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 retirement canada

Home Equity in Retirement – Reverse Mortgages vs HELOCs vs Downsizing

By Kyle Prevost March 16, 2024

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…

financial advisors canada

Best Financial Advisors in Canada

By Kyle Prevost March 2, 2024

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…

Eqbank Logo

EQ Bank Review 2024

By Kornel February 27, 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…

investing with cognitive decline

Managing Money In Retirement – Investing with Cognitive Decline

By Kyle Prevost February 17, 2024

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 canada

OAS in Canada: Clawbacks, Eligibility and Payment Dates

By Kyle Prevost February 10, 2024

Old Age Security – better known as OAS – is one of the least understood aspects of Canadian retirement planning that I’ve come across. In…

canadian millionaire money

How to Become a Millionaire in Canada

By FT February 10, 2024

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 guide

CPP Ultimate Guide – Eligibility, Payment Dates, Withdrawals & More

By Kyle Prevost February 3, 2024

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

Retirement Planning in Canada (RRSP Season)

By Kyle Prevost January 20, 2024

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…

Ultimate Guide To Safe Withdrawal Rates In Canada

Safe Retirement Withdrawal Rate Strategies in Canada

By Kyle Prevost January 10, 2024

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?

By FT January 5, 2024

Working After Retirement in Canada

By Kyle Prevost January 2, 2024

Investing in Annuities in Canada – Buying a Pension for Life

By Kyle Prevost December 16, 2023

Withdrawing From RRSP/TFSA to Fund Early Retirement

By FT November 18, 2023

Wealth Management Companies in Canada 2024

By Kyle Prevost November 8, 2023

Tangerine Bank Review 2024

By Kornel October 26, 2023

4 Steps for a Worry Free Retirement Course Review by Frugal Trader

By FT September 23, 2023

4 Steps to a Worry-Free Retirement in Canada

By Kyle Prevost September 17, 2023

Best Bank Account for Seniors in Canada 2024

By Yang July 6, 2023

Bond ETFs vs GICs vs High Interest Savings Accounts

By FT June 4, 2023

TFSA vs RRSP- Which One is Better?

By Marc April 20, 2023

13 Top Tax Breaks for Seniors in Canada

By Kyle Prevost April 9, 2023

The Best Countries for Canadians to Retire Abroad

By Kyle Prevost March 12, 2023

Best Online Banks in Canada 2024

By FT March 1, 2023

Life Insurance for Seniors in Canada

By Kyle Prevost February 19, 2023

Long-Term Care Insurance In Canada: Do I Need It?

By Kyle Prevost February 12, 2023

The Best Investments for Canadian Retirees: Stocks vs ETFs vs Robo Advisors

By FT January 28, 2023

RRSP vs RRIF: Conversion, Ages, Penalties, Withdrawal Minimums

By Kyle Prevost December 10, 2022

Withdrawing From RRSP and TFSA For Retired Canadians in 2024

By Kyle Prevost December 3, 2022

Canada Personal Pensions: Defined Benefit vs Defined Contribution Plans

By Kyle Prevost November 6, 2022

How Much Do Canadians Spend In Retirement?

By Kyle Prevost September 17, 2022

How To Retire Early in Canada

By Meg March 10, 2022

The Biggest Risk of Early Retirement (FIRE) – Sequence of Returns!

By FT November 5, 2021

Buying a House in Canada – Why I Can’t Wait To NOT Be a Homeowner

By Kyle Prevost July 10, 2021

Canada’s Purpose Longevity Pension Fund: Is It a Guaranteed 6.15% Pension for Life?

By Kyle Prevost June 19, 2021

Have I Given Up on the Smith Manoeuvre?

By FT June 12, 2021

Snag Your Free Canadian Expat eBook

By Kyle Prevost March 28, 2021

Can You Have Too Much RRSP?

By FT August 5, 2019

Building a $1,000,000 RRSP Starting in your 30’s, 40’s, and 50’s.

By FT July 8, 2019

Retirement Calculators – How Much Do You Need to Retire?

By FT June 2, 2019

RRSP Deadline & Contribution Limit 2018/2019

By FT September 1, 2017

How Much Do You Need to Retire in Canada? Not as Much as You Think!

By FT May 26, 2014

Cashing Out Your Pension: The Small Benefit Rule

By Sean Cooper April 3, 2013

How to Calculate Pension Maximum Transfer Value (MTV)

By Sean Cooper February 21, 2013

7 Steps to Determine Your Optimal RRSP/TFSA Contribution Strategy

By Ed Rempel February 4, 2013

The Optimal RRSP/TFSA Contribution

By Ed Rempel January 21, 2013

A Primer on the Pension Benefits Guarantee Fund

By Sean Cooper April 4, 2012

Pension Basics: The Commuted Value

By Sean Cooper September 9, 2011

Should University Students Contribute to an RRSP?

By FT July 27, 2010

Guaranteed Income Supplement (GIS) and GIS Clawback

By FT August 10, 2009

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