Category Archives: Retirement

Taking money out of your RRSP before retirement

A Registered Retirement Savings Plan can be a powerful investment tool for your money. Canadians contributed over $36.8 billion to their RRSPs in 2014, according to Statistics Canada.

​​You can take money out of your RRSP before you retire. However, you will pay an immediate tax on the money you take out, and possibly more at tax time. Also, you’ll permanently lose the contribution room you originally used to make the contribution.
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Canadian retirees some of the happiest, pre-retirees amongst the most likely to expect property to fund retirement

While just over half of current Canadian retirees (53%) say a government pension is helping fund their retirement, only 35% of working-age Canadians say that’s likely to be the case for them. Instead, an increasing number of pre-retirees in Canada say they expect personal pension schemes, cash savings, as well as property will fund their retirement.

Continue reading Canadian retirees some of the happiest, pre-retirees amongst the most likely to expect property to fund retirement