Essential tax numbers: updated for 2023 – Advisors Edge, November 18, 2022
https://www.advisor.ca/tax/tax-news/essential-tax-numbers-updated-for-2023/
The Advisor’s staff offer up a great list of important tax related numbers for 2023… e.g. TFSA contribution amount increased to $6,500, OAS recovery threshold significantly increased to $86,912 from $81,761 in 2023.
Seniors can take advantage of RRSPs even after age 71 – Globe and Mail, November 30, 2022
https://www.theglobeandmail.com/investing/personal-finance/taxes/article-seniors-can-take-advantage-of-rrsps-even-after-age-71/
Tim Cestnick discusses a tax strategy that involves over contributing to your RRSP in your last year of eligibility before rolling it into a RIF.
More Canadians are carrying their mortgages into old age, and it’s complicating retirement plans – Globe and Mail, November 28, 2022
https://www.theglobeandmail.com/investing/personal-finance/retirement/article-retiring-with-mortgage-canada-increase/
Salmaan Farooqui examines a growing trend, folks, who still have mortgages to pay as they’re heading into retirement. That is definitely something one should try and avoid at all costs.
‘I prefer to call it a reinvention or transformation,’ says this 70-year-old of retirement – Globe and Mail, November 18, 2022
https://www.theglobeandmail.com/investing/personal-finance/retirement/article-retirement-reinvention-transformation/
Brenda Bouw’s discussion with a recent retiree, who has chosen to reframe the retirement concept.
“My Favourite Weekly Reads” are articles I have read throughout the week because they were of interest to me … for good, or for bad reasons. 🙂 Sharing them does not mean that I endorse them, unless I explicitly state that. If concepts contained in the financial articles I share are of interest to you please remember that is always a good idea to ask your financial adviser’s advice when considering making changes to your financial portfolio or changing your spending habits.
