“Welcome to the PlanEasy blog! We make personal finance easy.

Thanks for visiting.”

– Owen

What Is The Pension Income Tax Credit? Both The Amount And The Eligibility?

What Is The Pension Income Tax Credit? Both The Amount And The Eligibility?

After reaching age 65 there are a couple of tax credits that we become eligible for. These tax credits vary in the amount of tax they save, but in general they help decrease income tax payable for those over the age of 65, and they can be very helpful to lower taxes in retirement.

But with some of these tax credits, they only apply if you have certain types of retirement income, and the pension income tax credit is one of those tax credits.

The pension income tax credit is one of a couple of tax credits that become available to everyone after age 65 (there is also the Age Amount Credit) but some people can access the pension income tax credit earlier than age 65 if they have certain types of retirement income.

All of these tax credits add up to provide a significant amount of tax savings in retirement, so it pays to understand the various credits and how to qualify for them.

The pension income tax credit provides a tax credit of $2,000 federally and between $1,000 to $2,000 depending on the province.

read more
Why We Choose To Spend Our Money On Freedom

Why We Choose To Spend Our Money On Freedom

What do you prefer to spend your money on? Cars, houses, vacations? Everyone spends their money differently. Some people enjoy nice cars, large houses, the latest clothes or gadgets, luxurious vacations, food, wine, restaurants, the list is endless.

But for some of us, we like to spend our money a different way. Some of us like to slowly buy more and more freedom, flexibility, and time.

Like other ways to spend money, buying freedom is a personal choice, but it’s the right trade-off for us. We don’t value expensive cars, or large houses, or expensive clothes, but what we do value is freedom, flexibility, and time.

read more
Achievement Unlocked! 30 Personal Finance Achievements You Need To Unlock

Achievement Unlocked! 30 Personal Finance Achievements You Need To Unlock

When it comes to personal finance there are many different milestones, and each one is its own individual achievement. Personal finance is full of achievements you need to ‘unlock’ to be successful. The more achievements you unlock, the more success you’ll have at building wealth.

To ‘win’ the money game you need to hit certain milestones along the way. Some achievements are necessary before you can move forward in the game. Others enable you to accelerate your wealth even faster. And then there are some achievements that are just interesting check points along the way.

Here are 30 personal finance achievements you need to unlock!

How many have you unlocked already?

read more

Owen Winkelmolen

Fee-for-service financial planner and founder of PlanEasy.ca

“Welcome to the PlanEasy blog! We make personal finance easy.

Thanks for visiting.”

– Owen

New blog posts weekly!

Tax planning, benefit optimization, budgeting, family planning, retirement planning and more...

What Is The Pension Income Tax Credit? Both The Amount And The Eligibility?

What Is The Pension Income Tax Credit? Both The Amount And The Eligibility?

After reaching age 65 there are a couple of tax credits that we become eligible for. These tax credits vary in the amount of tax they save, but in general they help decrease income tax payable for those over the age of 65, and they can be very helpful to lower taxes in retirement.

But with some of these tax credits, they only apply if you have certain types of retirement income, and the pension income tax credit is one of those tax credits.

The pension income tax credit is one of a couple of tax credits that become available to everyone after age 65 (there is also the Age Amount Credit) but some people can access the pension income tax credit earlier than age 65 if they have certain types of retirement income.

All of these tax credits add up to provide a significant amount of tax savings in retirement, so it pays to understand the various credits and how to qualify for them.

The pension income tax credit provides a tax credit of $2,000 federally and between $1,000 to $2,000 depending on the province.

read more
Why We Choose To Spend Our Money On Freedom

Why We Choose To Spend Our Money On Freedom

What do you prefer to spend your money on? Cars, houses, vacations? Everyone spends their money differently. Some people enjoy nice cars, large houses, the latest clothes or gadgets, luxurious vacations, food, wine, restaurants, the list is endless.

But for some of us, we like to spend our money a different way. Some of us like to slowly buy more and more freedom, flexibility, and time.

Like other ways to spend money, buying freedom is a personal choice, but it’s the right trade-off for us. We don’t value expensive cars, or large houses, or expensive clothes, but what we do value is freedom, flexibility, and time.

read more
Achievement Unlocked! 30 Personal Finance Achievements You Need To Unlock

Achievement Unlocked! 30 Personal Finance Achievements You Need To Unlock

When it comes to personal finance there are many different milestones, and each one is its own individual achievement. Personal finance is full of achievements you need to ‘unlock’ to be successful. The more achievements you unlock, the more success you’ll have at building wealth.

To ‘win’ the money game you need to hit certain milestones along the way. Some achievements are necessary before you can move forward in the game. Others enable you to accelerate your wealth even faster. And then there are some achievements that are just interesting check points along the way.

Here are 30 personal finance achievements you need to unlock!

How many have you unlocked already?

read more

New blog posts weekly!

Tax planning, benefit optimization, budgeting, family planning, retirement planning and more...

New blog posts weekly!

Tax planning, benefit optimization, budgeting, family planning, retirement planning and more...

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