Crystal Mirkazemi

Don’t think that 50 percent pension splitting is enough to fully split retirement income for you and your spouse. Is your employment and future retirement income expected to be significantly higher than your spouse’s? Or vice-versa? That’s when contributions to a Spousal RRSP could be a good idea.

Whether whispered in kitchen conversations, splashed across social media, or cited by worried friends, this “magic number” has become something of a myth.

Building wealth doesn’t have to be overwhelming. Think simple. Many people assume the government, CPP, OAS, or their company pension will be “enough.” The belief that someone else will take care of us creates comfort, dependance, and an unrealistic future.