I was fortunate to be able to get a payout from my work that I was able to put into my RRSP as I had the contribution room. Currently I have it as 'Other Income' but I don't think that's correct is it? Like I think I should just go in and increase my RRSP investment amount as this isn't income.
Just doing some more review here and although I see on my latest projection that our avg tax's are fairly level (for a couple on the chart) when I dig a bit deeper in the #'s below I see my avg tax rate is 13/15/17% while my spouses' is all over from 10 to 6 to 0 for a few years so just wondering if that is easy to comment on or not without sharing more details? I'll assume due to her income being lower and I need to review the Meltdown options and I should be looking for a strategy to fill her Age Amount tax bracket for example? Like I'm also not sure if that is a real issue or not? Like should both partners avg tax rate be similar?
I did just look at the "Should You "Smooth" Your Taxes In Retirement?" video also.
My wife retired early and started taking CPP just under 6 months ago (just after she reached 60). Seemed like it would help pay some bills vs dipping into savings and now I'm starting to question that decision and would like to model that but not sure how exactly. I also think the clock is ticking if we wanted to stop collecting CPP and pay it back (like before her 6 month payment?). Is it just under Profile and uncheck CPP started? Create a New Projection first?
Then under expenses when I review I see mortgage payment still there under 'slow-go' but I won't have a mortgage then. The program surely knows when it will be paid off so do I override that entry or why it is still there?
Have a current PM plan. Decided to try and move over a different # from a different provider. I went through the Transfer process and it seemed like it worked but I seem to be only halfway done. Like in the app and online my Account shows the new # now but on my iPhone under Cellular, 'My Number' is still my original PM #. So what did I do wrong? I read earlier about porting out and porting in so maybe me just doing a transfer was not the right way? Do I take it into a kiosk or is chat support any good?