Retirement

"What to look for when purchasing a Long Term Care Plan" an eBook

Recognizing that at some point in our lives we will need extra care.  If you are like many people, you have worked hard, saved all your life, and you want to have independent care when the time comes.  No one wants to outlive their RRSPs.  Currently in BC if you qualify at the lowest income you may be eligible for a government funded facility.  However, you must live in a facility and not all expenses may be covered even if you qualify based on income.   A nursing home is not a retirement home.  Currently, residential retirement homes cost between $4,500 t

2010 Tax Changes that May Affect You

Rollover of RRSP Proceeds to a Registered Disability Savings Plan

Budget 2010 proposes to extend the existing RRSP rollover rules to allow a rollover of a deceased individual’s RRSP proceeds to the Registered Disability Savings Plan of a financially dependent infirm child or grandchild.

Set up of Tax Free Savings Accounts (TFSA)

The Canadian government introduced Tax Free Savings Accounts (TFSA) as a new way of saving money without paying tax on the interest earned on the savings. The concept is that you can contribute up to $5,000 each year and not pay tax on the interest earned.