What is an RRSP? What is a TFSA? What can they be used for? A RRSP is a Registered Retirement Savings Plan and a TFSA is a Tax Free Savings Accounts. They are similar in some ways and quite different in others.

Part 3: What tools to use, how to start and a case study.

Part 2: How to calculate how much annual income you’ll need. Take a moment to review your estimated retirement expense budget. Have you included needs, wants and lifestyle expectations? Have you included large items such as vehicle replacement or home maintenance? Once you’ve included them, calculate the total annual amount. (Note that this is an […]

How much do you think you’ll need to retire? That depends on a couple things. What kind of lifestyle do you want? What will it cost?

This is a big question and whether you’ve started to save for your retirement or not, the mere thought of it can cause anxiety. Next week Dear Piggy Bank will explore this topic and provide some useful tips to make informed decisions and get started including how to calculate what you will need, determine what […]

It’s easy to say but how do you do it? Short term versus long term objectives, money for this but not enough for that too…these are common questions and challenges. The first step is to identify your goals. What do you want and what will it cost? When do you want it? It’s easiest if […]

The holiday season is fun and busy! Time flies and before you know it, it’s the new year. Start 2011 on the right foot. Here are 3 steps to take care of your financial business. 1) Set a simple plan – 1 to 3 goals 2) Make it easy on yourself – Set up auto-transfers/savings […]

Do you have a financial plan? Is it for 2010? Does it cover a few years? Once you decide on your priorities and goals and set them to a timeline, it can be an easy exercise to review the plan. It may need some small adjustments but if you’ve put some thought into it, the […]