Remember Cryoptocurrency

[farmaholic]

I had a goal of not having to rely on the farm's income, or selling farmland, to fund my retirement.

Maybe I was expecting or asking for too much.

The power of compounding got lost along the way.

I guess Savers have been subsidizing Borrowers.

[Rareearth]

Think of it this way,
I’m going to invest in what I believe to be in my families best interests, farm business best interests, creating a work - life best interest.

Many investment bankers, financial advisors, bankers, life insurance companies etc all suggest diversification, financial and life insurance instruments to set up for retirement and estate planning to create fairness, equality and tax estate payments, etc

If there is any equity at all in the business or farm it should not be a burden for the successors to borrow on the equity to maintain and grow the business further.

[farmaholic]

Since the investments aren't performing up to my expectations I thought I'd cash them in for one of the world's cheapest currencies and use it to heat the house.

[Richard5]

Just wait till you start your rrsp withdrawals and conversion to a rrif. once the taxman gets his due your "investments" will be very disappointing. if you figure in oas clawbacks and the fact that you'll likely be in the highest tax bracket tax rate could well be north of 75%.
investing in fast cars, loose women and booze couldn't have been a whole lot worse;>)

The solution to this is managing it early. Don’t wait until you have to “convert to a RRIF”. For those in farm corporations, which is most, make sure you are reporting 100,000 or more personal income and not nothing or very low so that you get child tax benefits and all the gov’t hand outs you think you need to exist.

Not sure how you equate to 75% final tax rate but that seems a bit high. 48-52% is possible if you keep pushing off the inevitable