2014 Online RRSP Guide: Helping your with RRSPs

The 2014 RRSP season is here and here’s a list of my articles to help you make good decisions and plan for retirement.  I’ve been writing about this topic for a long time so I warn you, there is a lot of content here so you might want to bookmark and come back.  I’ve broken all the posts down into five main categories so it is easier to find what you are looking for.

Contribution information

ComputerHow much can I contribute to a RRSP? There are 4 ways to find out how much you can contribute to an Registered Retirement Savings Plan.  One harder way and one EASY way.  My preference is the easy way.

The proper use of RRSPs:  the one formula approach. There’s lots of debate over whether your should buy Registered Retirement Savings Plans or not.  Here’s my one formula approach to figuring out whether they make sense for you.

When should you NOT buy a RRSP. For the most part, I think RRSPs make sense and more people should buy them than not.  That being said, there are circumstances when they do not make sense.

Lesser Known Facts of the RRSP.  When it comes to Registered Retirement Savings Plans everyone talks abut the tax breaks and investing.  Here’s 7 other cool things to know about RRSPs.

The great RRSP debates.  There are three big debates when it comes to RRSPs:  are they better than paying down mortgage, are then better than investing outside the Registered Retirement Savings Plan and how do they compare to the new TFSA.  Here’s my thoughts on these great debates.

TFSA or RRSP:  Why not both.  One of the problems with the outcome of the debate is it seems like people have to make the choice between one or the other which really is not the case.  Both the TFSA and the RRSP have merits so which is better?

TFSA or RRSP:  A case study.  Here’s an interesting situation where someone is not sure how much to put towards RRSP vs TFSA vs RESP.  In the end, it made sense for him to use all three but moved some of his TFSA to RRSPs to get an immediate tax deduction.

RRSP Quick Facts 2014. Need to find some of the important facts fast.  It’s probably here in this little quick facts guide.

RRSP Contribution and RRSP Withdrawal.  Another great primer I wrote for Canadian Finance blog.

The difference between and accounts and investments. The difference is subtle but very important. Here’s a quick explanation to distinguish between an account and an investment.

Investment ideas

Stages of investing.  How you invest your Registered Retirement Savings will depend partly on what stage of investing you are at.  Someone starting out will probably want to keep it simple.  The more money you have, the more sophisticated you can get.

Advantages of Self-directed RRSPs.  This is one of my most popular articles.  I have a self-directed account myself and think that anyone with over $50,000 in their account should consider a Self-Directed Registered Retirement Savings Plan.

My EFT Investment Strategy.  Everywhere I go, I have people asking me how I invest my own money and what kinds of things I invest in. Here’s my ETF investment strategy.

Investing Your RRSP contribution.  There is no shortage of information on investing your RSPs.  The problem is there is too much information.  Here’s 5 timeless tips when it comes to investing.

Spouses should work together when investing RRSPs. The investment industry leads couples to manage their portfolios separately but there are times when couples are better off working together in developing an investment strategy for Registered Retirement Savings Plans.

RRSPs and Estate Planning

What happens to your RRSPs when you die? Here’s a topic we don’t like to talk about but it’s really important to know the answer to this question.

RRSP and RRIF Tax Trap.  By not paying attention to the beneficiary of your Registered Retirement Savings Plans, your beneficiaries might find themselves in a tax trap.

Don’t die with too much money in your RRSPs.  Most people don’t realize that tax deferral is great but only to a point.  Trust me when I say the last thing you want is to die with too much RSPs.  The tax hit is not what you want.

Designating Beneficiaries.  One of the decisions that needs to be made when you buy or open up a Registered Retirement Savings Plan is you need to pick a beneficiary.  Before you do, you should consider the tax implications.

RRSPs and retirement

Withdrawing money from your RRSPs in retirement. When you retire you need to make some decisions about your registered money.  Here’s 4 options to convert your retirement plans to income.

Converting RRSPs to Income.  This is one of the first articles I wrote on converting RRSPs to income and it’s still relevant.  Check it out for some great timeless tips on converting to RRIFs or annuities.

Everything you need to know about RRIFs. When people need to draw an income from their registered planss, they typically choose a RRIF.  Here’s what you need to know about RRIFs.

Everything you need to know about life annuities. The alternative to the RRIF is a life annuity.  Here’s some things you need to know about life annuities.

Other stuff

Making the decision to borrow for RRSPs.  It’s pretty easy to get a RSP loan if you don’t have the cash on hand to make the contribution but is that something you should do?  Let’s take a look at the math to see if it makes sense.

Three reasons to take money out of RRSPs early. Although the point of Registered Retirement Savings Plans it to take them out when you retire, there are sometimes circumstances where taking them out before retirement makes sense.

Straight Talk on RRSP loans.  Interest rates are low but use common sense when it comes to taking out a loan.

Do spousal plans still make sense? The new rules to pension splitting introduced in 2007 made Spousal plans less attractive but there are still circumstances where they still make sense.

Did you find what you were looking for?  If not, post a comment below or contact me and I would love to help you.

Written by Jim Yih

Jim Yih is a Fee Only Advisor, Best Selling Author, and Financial Speaker on wealth, retirement and personal finance. Currently, Jim specializes in putting Financial Education programs into the workplace.For more information you can follow him on Twitter @JimYih or visit his other websites Group Benefits Online and Advisor Think Box.

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