Marginal Tax Rates calculate the amount of combined federal and provincial taxes payable on the next dollar of income. These tables help to calculate the level of tax savings a taxpayer may receive from RRSP contributions.

One surprising aspect of our business is how much time and energy we spend advocating against certain unhelpful financial ideas. For example, we have been cautioning against a strategy called Insured Retirement Plan for years. Here’s an explanation and a warning.

Even the most seasoned investor may benefit from working with a financial advisor. Accumulating assets is only one step in a comprehensive financial plan. A financial professional can help you define your financial priorities, manage your cash flow and provide an articulated tax and estate plan to ensure more of your assets remain in the hands of your family. Regardless of your goals and level of knowledge, a good advisor is the one addition that can improve any investment portfolio.

A Registered Retirement Savings Plan is an account that helps you save money for the period after you stop working permanently. To encourage you to save, the plan has three advantages: You can reduce your taxable income immediately, ou can grow retirement savings tax-free within the plan, and you can pay tax later instead of now

When you apply for a mortgage, the lending institution will offer you what they call mortgage insurance. This insurance is bundled into your mortgage payments, and covers the repayment of your mortgage in case you die. This sounds like a good and convenient solution, but you can do better!

If you are nearing retirement or already there, you face a critical challenge: you have to rely on your pensions and savings to provide income. But you can’t know for sure how long you will need those assets to last. If they are not wisely invested or you spend too freely, you may outlive your savings.