Reading time about 5 minutes “Freedom 55”. You’ve likely heard someone say that’s what they want at some point in your life. But how much money do I need to retire at 55 in Canada? Below we go over how much you need to save before retirement, what you’ll have on the day you retire, …
Reading time about 2 minutes You might be wondering what is the eligibility for Canada Pension Plan? Or what are the CPP payment dates for 2021 and 2022? Canada Pension Plan, or CPP, is a defined contribution state pension plan administered by the Federal government in Canada. It is paid monthly to the beneficiary. Note …
Reading time about 5 minutes You will find many, many articles on how to invest in real estate. What most articles don’t tell you, however, are some of the horrors of being a landlord. Read on for the first part of a series on how to invest in real estate in Canada. I was a …
Reading time about 5 minutes Ten tips on how to invest in Canadian real estate based on my experiences. 1) The 1% Rule I’ve used the 1% rule in the past. It’s one of my favourite rules. Can I make at least 1% gross rent annually based on the total cost of the property? This …
Reading time about 6 minutes I’m a dividend investor. I rely on the passive income stream to eat. Luckily, in Canada, personal dividend income receives special tax treatment. Depending on where you live, you could be earning up to nearly $50,000/year completely tax-free if dividends are your only income — a powerful passive income strategy. …
Reading time about 2 minutes Back in 2009, the Canadian government launched a new type of registered account called a Tax-Free Savings Account, or TFSA. Slightly confusingly, a TFSA can be a tax-sheltered regular old savings account or a self-directed investment account. What is a Tax Free Savings Account A TFSA allows for the growth of your money …
Reading time about 4 minutes So you’re a Canadian retiring abroad. The dream of many Canadians, especially given the harsh winters many of us endure. However, there are some pitfalls to doing this, and not planning accordingly can have significant consequences. Tax Residency Probably the biggest thing that anyone should do before retiring abroad is …
Reading time about < 1 minute I recently had the need to invest in a TSX/60 index ETF in my non-registered (i.e. cash) account. Sounds simple enough: there are lots of TSX/60 index ETFs that fit the bill. The problem, however, is that the TSX/60 is made up of plenty of dividend-paying stocks, and the entire index actually …
Reading time about 3 minutes So you might have heard of FIRE (“Financial Independence/Retire Early”). You might well have read a blog or two about it as they’re pretty ubiquitous. But how do you get started and are there any unique aspects of financial independence in Canada? What Is Financial Independence Really? I honestly don’t think FIRE …