How much can I contribute to my RRSP?
With the RRSP deadline approaching, you may be wondering how much you can contribute to your my65+ plan. General contribution limits for RRSPs, TFSAs, and DPSPs are set by the government and can be found here. You can find out your contribution room online through the CRA’s My Account service. If you have not yet created an account, […]
What to do with your my65+ plan when you leave your job
Keep a great thing going! When you leave your job – whether it’s for an exciting new opportunity or into retirement, one thing that won’t change is your access to your my65+ plan. Your employer set up your plan as a benefit for you, and even if you’re moving on, it’s yours to keep for […]
4 smart ways to use your 2022 tax refund
Still deciding what to do with your tax refund? You’ve got options. Landing a bit of bonus cash can set off a battle of wills in most people. “Fun, Carefree You“ wants to finally check out the purchase that’s been sitting in your online cart for months, or plan a long-awaited vacation. But “Responsible Grown-up You“ knows […]
How to keep your retirement plan up to date
Life can bring many exciting changes! A salary raise, parental leave, a job change, an inheritance, or finally retirement – all of these events have an impact on your retirement plan. Your my65+ plan is yours for life and helps you track your retirement readiness throughout your working years and into retirement. That’s why it’s […]
Designating beneficiaries in my65+
A crucial part of retirement planning is designating one or more beneficiaries for your my65+ account. You’ll want to consider some factors when deciding the individual(s) who will receive the my65+ assets in the event of your death. After you enroll in my65+, click on the profile icon in the top-right corner of your account dashboard […]
Overcoming human nature for retirement success
A well-designed retirement savings plan is one that helps participants start saving and investing early, stay invested, have enough retirement income based on their retirement goals, and make smart decisions along the way. Behavioural finance, which is the study of psychology that explores how people make financial decisions, has become a driving force in retirement […]
How much do I need to save for retirement?
You’re ready to start saving for your retirement, but where do you even begin? First you need to determine how much to save, and it depends on a number of factors, including: This is made even more complex because each of these factors may change over time for you, so planning your savings for retirement […]
Finding the right target retirement income for you
When you’re planning for retirement, one tough question you have to answer is how much monthly income you will need in retirement: your “target retirement income.” If you were to tackle this on your own, there are several different ways to estimate what your target retirement income should be. You could develop a line-by-line budget […]