Canada created the RRSP in the 1950s to give people without pensions another option to save money for the future. RRSPs started out less flexible than the current version but improved over the years.

Discover how a spousal RRSP can help you lower taxes now and balance retirement income later — ideal if one spouse earns much more than the other. Many or all of the products on this page are from ...

Last Friday, I came home after work and Carolyn said to me, “Let’s go out tonight and have some fun.” “Sounds good to me,” I replied. “If you get back before me, just leave the light on.” Now, as it ...

Income splitting is a useful tool that can minimize the taxes you and your spouse pay over your lifetime. The goal for any couple is to have equal incomes in retirement, and many steps can be taken ...

Canadians are using their self-directed Registered Retirement Savings Plans (RRSPs) to build portfolios of investments that can provide retirement income along with company and government pensions.

A spousal RRSP is an RRSP owned by the lower-earning spouse in a couple to which the higher-earning spouse makes contributions. Despite contributing to the low earner’s account, the high earner gets a ...

Miklos is a friend of mine who came to Canada from Hungary five years ago with his wife, Anna. The couple are in their sixties. Miklos has had some bad luck recently. Two weeks ago he was in a car ...

This article appears in the March 2022 issue of Advisor’s Edge magazine. Subscribe to the print edition, read the digital edition or read the articles online. Spousal RRSPs were designed to help ...

Planning for your retirement is a big deal for Canadians! Registered Retirement Savings Plans (RRSPs) are a popular way to save. But there are some things that can make the Canada Revenue Agency (CRA) ...