Muhs Wealth Partners

In the latest Just Some Musings episode Justin and I talk about everything that could go wrong with RESPs. Six mistakes and misconceptions we encounter from time to time.

Just Some Musings 4.05 Six RESP mistakes Canadian parents make — from group scholarship plans and grandparent-owned accounts to the withdrawal errors that forfeit grant money.

When planning an estate, many assume a will has the final word. In reality, named beneficiary designations on your RRSP, TFSA, life insurance, or group pension may supersede what's written in a will.

If it's been years since you filled out those initial forms, major life milestones, marriage, divorce, or a growing family, can leave old designations out of step with your current wishes.

When life changes, these designations need to change with it. A routine review prevents unintended gaps and ensures your legacy intent remains clear, accurate, and most importantly, up to date.

A financial plan that isn't regularly reviewed is just a snapshot of the past.

The best plans evolve, with changes to income, family structure, tax legislation, and long-term goals. Strategy alignment isn't a one-time event. It's an ongoing conversation.

Which raises the question, when did you last review yours?

Every year a few more clients roll over their RRSPs to RRIFs, whether they're hitting the age 71 deadline or if our financial plan compels it. I find there's a lot of confusion around this mysterious "RRIF". From how the deadline works to what happens to the investments in the RRSP to how the minimum payments and withholding taxes work.

I wrote this RRIF wiki years back, mainly to have the annual minimum payment table available to refer back to or share with clients but over the years gradually answered more and more questions that come up in client conversations. Updated it again this week with some additional info in the "Other Considerations" section.

Even if RRIF conversion is still many years away for you, it's worth a read to help understand what happens to your RRSP.

Registered Retirement Income Fund RRIF rules explained: conversion deadlines, annual minimum payments, withholding tax, and why waiting until 71 can cost you. From an Edmonton CFP.

Most people have pieces of a financial plan, an investment account here, an insurance policy there, and a rough idea of what retirement might look like. But pieces aren't a plan.

We’re at a stage of this 15+ year bull market when people are quick to forget mean reversion, expecting the returns of the recent past are likely to continue. The Nasdaq index over the first quarter of the 21st century provides a wonderful lesson and reminder that we should all study and heed going forward.

What the Nasdaq teaches us about mean reversion The Nasdaq's history is a masterclass in mean reversion and realistic return expectations. An Edmonton portfolio manager on why chasing tech returns backfires.

Has the democratization of investing gone too far? is the question
Justin and I ask in the latest Just Some Musings podcast...

Just Some Musings 4.03 The democratization of investing gave Canadians cheap index funds and robo-advice. Now come private markets, options, and prediction markets. A look at where the line is.

Are you investing in a business, or renting a ticker?

The Discipline Dividend explores one of the most powerful, and most overlooked, advantages a long-term investor holds: the ability to simply wait.

The Discipline Dividend amazonaws.com

I mentioned in our last podcast that I'd write a post on this: a complement to the charts that show the markets going up over time despite all the crisis points along the way. Instead of reasons not to buy, here are reasons to keep buying...

The World Kept Building muhs.ca