Short answers to
real questions.
Every post starts with a question a Canadian actually asked — the kind Allan answers in his MoneySense and Financial Post columns. The short version here; the full column a click away.
- Retirement Planning· September 2026
Spousal RRSPs Before Retirement: A Planning Guide for Canadian Couples
Spousal RRSPs can still matter for Canadian couples approaching retirement. This guide explores why early contributions may be worth considering, the three calendar year attribution rule, contributions after age 71, RRIF minimums, CPP, and OAS recovery tax.
Read the post - Retirement Income· September 2026
What Is Upper Middle Class Retirement Income in Canada?
There is no official definition of upper middle class retirement income in Canada. A look at the Statistics Canada figures, the CPP and OAS numbers behind them, and why the right number for you depends on your own Enough, not a benchmark.
Read the post - Tax Planning· August 2026
Tax deductions vs. tax credits in Canada: what actually lowers your tax bill
A deduction lowers your taxable income; a credit lowers the tax you owe directly. Using the age amount as a worked example, here is how tax deductions and tax credits actually work for Canadian retirees, with a simple comparison table.
Read the post - Decumulation· August 2026
Your first RRIF withdrawal can trigger a tax chain reaction no one warned you about
Your first RRIF withdrawal can set off a chain of tax consequences many retirees never expected. Here is how the cascade works and what scenario-based planning can model before you start drawing.
Read the post - Retirement Income· August 2026
Average Monthly Retirement Income in Canada: What the Numbers Mean
Compare the 2024 average and median monthly after tax income of unattached seniors and senior families using Statistics Canada survey figures, then see why a household plan needs more than a national benchmark.
Read the post - CPP & OAS· August 2026
What Is the OAS Clawback? The 2026 Threshold and How the Recovery Tax Works
The OAS clawback, or recovery tax, reduces OAS once your net income passes a threshold that rises every year, $93,454 for 2025 and an estimated $95,323 for 2026. How the 15% recovery tax is calculated, what income counts, and how RRIF withdrawals and OAS timing can affect it.
Read the post - CPP & OAS· August 2026
Taking CPP at 60 vs. waiting: what the early retirement reduction actually costs
Taking CPP at 60 means a 0.6% monthly reduction (7.2% per year) for every month before 65. We model the trade-offs between taking CPP at 60, 65, and 70, including where the break-even age tends to fall.
Read the post - Decumulation· August 2026
How RRIF withdrawal tax withholding actually works
Withholding tax and your actual tax bill on a RRIF withdrawal are not the same thing. Here is how the CRA's 10%, 20%, and 30% withholding brackets work, and why the amount taken off at source can be more, or less, than what you actually owe.
Read the post - CPP & OAS· August 2026
Maximum CPP Benefit in 2026: Published Amount and Your Estimate
The published January 2026 maximum CPP benefit is not a personal estimate. Here is the government source, how contribution history matters, and where to check your own record.
Read the post - Decumulation· August 2026
What Happens to Your RRSP at Age 71? Three Options and the Trade-offs
Your RRSP cannot stay an RRSP past December 31 of the year you turn 71. Here are the three maturity options, RRIF, annuity, or cash, and how each may shape your income, tax, and estate.
Read the post - Decumulation· August 2026
RRIF withdrawal rates by age: the complete 2026 CRA table and what it means
The complete CRA RRIF minimum withdrawal table by age 55 to 95+, how the prescribed factor formula works, the younger-spouse election, and what escalating rates may mean for your retirement income planning.
Read the post - CPP & OAS· June 2026
Why waiting until 70 to start CPP can be the quiet winner
Starting CPP at 60 feels safe, but delaying to 70 buys you guaranteed, inflation-indexed income that lasts as long as you do. Here is how to think about it.
Read the post - Decumulation· May 2026
The RRIF minimum withdrawal rule can quietly cost you later
The RRIF minimum is the least you must withdraw, not the smartest amount. Pulling out a bit more in low-income years can save tax over your lifetime.
Read the post - Investing· April 2026
Annuity or GIC for guaranteed income? It is not all-or-nothing
Annuities and GICs both offer safety, but they solve different problems. Here is how to think about lifetime income versus flexibility — and why you can use both.
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