Retirement Savings

How to Set and Achieve Dividend Retirement Goals

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This is a guest contribution by Ben Reynolds at Sure Dividend.  Sure Dividend uses The 8 Rules of Dividend Investing to find high-quality dividend growth stocks suitable for long-term holding. If you’d like to contribute a guest post to The Dividend Ninja, check out our Guest Posting Guidelines. The ‘holy grail’ of a dividend investing is when dividend income exceeds your monthly expenses.  At this point, you are completely financially free.  You can retire (if you choose) on your own terms knowing your expenses are taken care of by your investment portfolio. It sounds so simple.  ‘Just build a dividend …

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Better Late Than Never – How to Save for Retirement After 40

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The following is a guest post. If you’d like to guest post on the Dividend Ninja, be sure to check out our Guest Posting Guidelines. Once people reach their mid-fifties, they finally start seeing the light at the end of the tunnel. It’s around this time that they start to plan for what they’ll do once they retire, imagining lazy afternoons on the golf course or having lunch with friends. They often envision the trips they’ll take with spouses and all the wonderful extra time they’ll spend with their family. But what if you haven’t started saving yet? What if …

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Don’t Use Your TFSA as a Savings Account

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According to a recent post by Garth Turner, the gift, only 4 in 10 Canadians have a TFSA (Tax Free Savings Account). Of those only half actually do anything with it. In addition 80% of people with a TFSA have it sitting in high interest savings accounts. Garth writes: “Despite being able to shelter all this money from any kind of tax, most don’t. Only four in ten people have a TFSA, even five years after it was created. Of those only half actually contribute to them. And (are you sitting?) eighty per cent of people with a tax-free savings …

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RRSP and TFSA Strategies You Can Take to the Bank

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It’s that time of the year again – RRSP Season. Canadians will be lining up at the bank to either contribute to their RRSP (Registered Retirement Savings Plan), or borrowing for an RRSP loan. For most Canadians, that net benefit will be a tax-refund. What many Canadians don’t realize however, is the refund from contributing to their RRSP is not a gift. It has to be paid back later with taxes. That’s because any money withdrawn from your RRSP is considered income and is fully taxable. This makes the RRSP nothing more than a tax-deferral plan. Any money withdrawn from …

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