Education

RRSPs and RRIFs are intended to provide retirement income. But the tactics are very different

by
RRSPs and RRIFs are intended to provide retirement income. But the tactics are very different

I’ve heard people say that a RRIF is just an extension of an RRSP. It’s not true! These two plans are linked in that they are both designed to save for retirement. But their goals are different, which means that the tactics involved must be the same. The purpose of an RRSP is to build … Read more

Cost of living report highlights severe strain on family finances – Here’s what you need to know | Citizen

by
Cost-of-living report paints grim and financial strain on households, this is what you need to know

Prices of essential utilities such as electricity and water have risen above the national inflation rate for the past six years. The Competition Commission has presented a shocking picture of the cost of living in South Africa, revealing that the prices of essential utilities such as electricity and water have risen more than the national … Read more

‘I never stopped living like a college student.’ I’m 37 years old, I usually only make $13K a year, but I have investments and a $1.2M house. I don’t want to sell it, but I want a lot of money. Now why?

by
'I never stopped living like a college student.' I'm 37 years old, I usually only make $13K a year, but I have investments and a $1.2M house. I don't want to sell it, but I want a lot of money. Now why?

Question: “I am 37 years old and together with my partner, we usually had a combined annual income of $10-13K a year. We did not stop living like college students. But thanks to a well-made agreement, I have my house, and it was worth $1.2 million in 2020. My plan was to take that money … Read more