There’s more to retirement planning than RRSPs. If you’re a small business owner or an incorporated professional in Canada, you might want to explore
- IPPs (Individual Pension Plans)
- PPPs (Personal Pension Plans): a blend of defined benefit and defined contribution
- RCAs (Retirement Compensation Arrangements)
I worked at IA years ago but our paths didn’t cross because I was in the world of personal life and health insurance. He was in group savings and retirement. We got introduced through David Peck, the first guest on Tea At Taxevity.
Other ConsiderationsUniversal life insurance can provide tax-free retirement income later and protection today (see the overlooked advantages). Since disability could impair your ability to earn the money you’d save for retirement, consider income replacement insurance.
- The problem of “trapped” retained earnings
- The overlooked advantages of universal life insurance
- Why you need to reach The Moolala Guide to Rockin’ Your RRSP by Bruce Sellery
- Longevity over the last 100,000 years
- Will you have financial freedom at 35, 55 or 75?
- Are you saving too much for retirement?
- Prescription for Canada’s ailing pension system
- The original and overlooked Tax-Free Savings Account (TFSA)
- Losing ground: saving for retirement