Summary RRSP must convert to RRIF when annuitant turns 71 Minimum annual withdrawals from RRIF start when annuitant turns 72 Younger spouse’s age may be used to determine withdrawal prescribed… Continue reading Retirement Tax Tip #3
Summary Most income sources in retirement are taxed By timing the withdrawals from your RRSP/RRIF and deferring your CPP benefits, you can maximize the Guaranteed Income Supplement (GIS) GIS is… Continue reading Tax-Free Income in Retirement
Here’s the scenario: • Andy turned 71 this year and has earned income of $125,000 in the current year; his spouse, Mariam, is 68 and is retired. • Andy will… Continue reading RRSP Contributions at age 71 (or older!)
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BA, BEd, MBA, RWM
A former high school teacher and college Economics lecturer, Scott Boassaly has always valued education. This is further illustrated by his formal education. He holds a BA in History from Carleton University, a Bachelor of Education from The University of Ottawa, and an MBA from The University of Ottawa. This focus on education reveals itself in his approach to financial advice and in his commitment to offering free financial seminars to both adults and children. Celebrating his 20th anniversary as a wealth manager, Scott started his career at a large national firm where he quickly transitioned into management. Further industry experience was gained working with a reputable brokerage, then managing his own brokerage, Balance Financial, since 2019. Scott is the only certified responsible investment advisor in Ottawa and also holds the Real Wealth Manager designation.
