The 10 Year End Retirement Money Moves: Facts & Mechanics -

1. Take Stock of Your Finances

Calculating net worth involves listing all assets (cash, investments, real estate, pensions) and subtracting all liabilities (loans, mortgages, credit card debt).
The result is your net worth figure. Tracking it over time allows observation of financial progress or setbacks.

Reviewing investments includes measuring annual and multi-year performance against benchmarks or indices relevant to your holdings.
Investment management fees may include advisor compensation, fund MERs (management expense ratios), and trading costs, all of which can be found in official account reporting or fund documents.

Tax-loss harvesting refers to selling investments at a loss in non-registered accounts, which creates a capital loss.
This capital loss can be used to offset realized capital gains in the same tax year or carried back for up to three years, as defined by the CRA (Canada Revenue Agency).
A “superficial loss” rule applies if the sold investment (or an identical one) is repurchased by the same taxpayer or an affiliated entity within 30 days; in such cases, the loss is denied for tax purposes.

Group RRSPs and DPSPs (Deferred Profit Sharing Plans) may offer employer matching contributions, governed by plan documentation and payroll policies.
Health and dental benefit plans typically have annual maximums and many reset on January 1, causing unused benefit amounts to expire.

Withdrawals from a Tax-Free Savings Account (TFSA) create equivalent recontribution room in the immediately following calendar year, regardless of the withdrawal amount.
Withdrawing in December 2025, for example, enables recontribution starting January 1, 2026. Withdrawals made in early 2026 restore room only on January 1, 2027.

Academic and behavioral research shows that documenting goals, especially in writing, increases the likelihood of achieving those goals.
Some individuals track both financial (retirement target, savings goals) and non-financial (travel, personal achievements) objectives.

Donating eligible securities “in-kind” (i.e., direct transfer to a charity without liquidation) can result in the donor avoiding capital gains tax while receiving a tax receipt for the fair market value at the time of the donation.
Gifts of cash must be dated and receipted by December 31 to apply for the current tax year; in-kind transfer deadlines may vary by financial institution.

Conversion of a Registered Retirement Savings Plan (RRSP) or Locked-In Retirement Account (LIRA) to a Registered Retirement Income Fund (RRIF) or Life Income Fund (LIF) must occur by December 31 of the year the planholder turns 71, but can be done earlier.
Once converted, the account holder must take minimum annual withdrawals, which are set by government formulae and reset annually based on age and year-end account value.

A “cash wedge” is a portion of a portfolio allocated to cash, high-interest savings accounts, or short-term fixed-income products.
Its primary function is to provide liquidity for planned withdrawals so that long-term investments can remain untouched during market downturns.

Retirement planning involves integrating income sources—government pensions (e.g., CPP, OAS), workplace pensions, RRSPs, TFSAs, non-registered accounts, and annuities.
Withdrawal strategies (e.g., order of redemptions, pension splitting, OAS restoration) can affect net after-tax income and eligibility for credits or government benefits.