Sun Life Financial Advisor, Expert
Shaun Goolcharan has been a Sun Life Financial Advisor since 2006 and sits as a member of the Million Dollar Round Table, he is also a past recipient of the National Quality Award. In addition to contributing to the Huffington Post, Shaun has appeared as a subject matter expert in guest spots on Global News and City TV.
For the average person, debt management seems like a simple strategy. But it is easy for debt to get out of control -- the sooner you make a plan and stick to it, the better it will be for you in the long run.
Do you have a budget? It is one of the most fundamental steps in making your money work for you. A personal budget is a basic estimation of the revenue and expenses over a specified period of time. Whether your goal is a down payment for a new house, saving for your child's education, a dream vacation or simply retirement, a budget is the answer to helping you reach your financial goals.
04/14/2014 05:18 EDT
Each year you are required to take out a portion of your savings from your RRIF, which is subject to tax, but there's no limit on how much you can withdraw. In addition you can name your spouse as a beneficiary, so RRIF assets can be transferred to your spouses' RRIF or RRSP on your death. You can't keep your savings in an RRSP forever.
02/14/2014 12:40 EST