TSX getting you down? There are always sound investment alternatives.
Latest News
The First US Bird Flu Death Is a Stark Warning - WIRED + MORE Jan 7th
The First US Bird Flu Death Is a Stark Warning WIREDU.S. reports 1st bird flu death in human, Louisiana officials say Global News Toronto1st deadly case of H5N1 bird flu reported in US Livescience.comModerna Stock Jumps on Bird Flu Vaccine Hope After First U.S. Death.... More »
Ombudsman: federal tax relief program needs funding to improve response time + MORE Nov 17th
OTTAWA _ The federal government’s Taxpayers’ Ombudsman says the Canada Revenue Agency needs more permanent base funding for a program that provides financial relief to taxpayers who fall behind on payments because of a disaster or hardship.
The ombudsman says in a report that it’s .... More »
Why Oil Markets Reacted Negatively to the OPEC Announcement - OilPrice.com Jun 5th
Why Oil Markets Reacted Negatively to the OPEC Announcement OilPrice.comOil prices continue slide as OPEC+ boosts supply despite concerns about shaky demand CBC.caU.S. crude oil extends losses on OPEC+ increasing supply later this year CNBCOil near 4-mth low after OP.... More »
BoC held its rate on June 4—here’s why Jun 4th
The Bank of Canada (BoC) held its benchmark interest rate steady at 2.75% Wednesday, June 4, as policymakers keep waiting for more clarity on how tariffs will impact the economy.
“Uncertainty remains high,” Bank of Canada governor Tiff Macklem said in prepared remarks after the release of the.... More »
Innovation minister announces $5M investment in 2 auto technology firms in Windsor Jan 14th
A repayable investment of $4 million will help APAG Elektronik open up 138 skilled jobs, while Service Mold + Aerospace will add 21 jobs using an additional $1-million repayable investment..... More »
What to do with unused RESP money
– moneysense.ca
Q: My wife and I have a son aged 25 years old and a daughter age 27 years old who have both completed college and are both now living on their own and working full-time. We saved and used only a portion of the money that we had contributed to a family RESP to assist them with tuition and living expenses while they attended college.
We now realize our children will not be pursuing further education and we still have $54,000 in the RESP.
What are our options to reduce tax implications when we withdraw or transfer the money from the RESP to another investment account? Neither myself or my spouse has any available RRSP room. Further, is there anything we can do at this time to minimize the penalties or clawbacks the CRA will impose as a result of us not using all the RESP money for the original intended purpose?
—Kevin
A: It sounds like you and your wife have a good Registered Education Savings Plan (RESP) problem, Kevin. I’d rather have too much in my RESP than not enough. Most parents are in the latter situation…
How to add dividend ETFs to a Couch Potato portfolio
– moneysense.ca
(Photograph by Raina + Wilson)Q: I am a 63-year-old retired Couch Potato investor. I haven’t seen any unbiased information about dividend ETFs. Have you got any thoughts or recommendations on these?
— Mike
A: The traditional Couch Potato portfolios use plain-vanilla index funds and ETFs that cover the broad market, without specifically focusing on dividend-paying stocks. Many investors wonder about modifying this approach by using specialized ETFs that focus on yield. This is an especially common question for retired investors who rely on their portfolio to generate income.
Whether a dividend strategy can be expected to deliver higher returns than the traditional Couch Potato is debatable, but I recognize the intuitive appeal of investing for income. If you decide to modify the strategy to focus on dividends, I’ll make a couple of recommendations.
The first is to make sure you stay well diversified. The broad-market index funds in the Couch Potato lineup include hundreds, even thousands of stocks…
Eye on Shorts: What bearish investors are betting against
– theglobeandmail.com
Short position highlights are provided by TSX Datalinx.
RRSP season is here. Can you answer these 10 key questions?
– canadianbusiness.com
(Anthony Rosenberg/Getty)This article originally appeared at MoneySense.
It’s that time of year again. RRSP season is upon us and before that March 1 deadline approaches, plenty of Canadians have questions about contributions, withdrawals and do’s and don’ts. Luckily, our experts have answered a lot of RRSP queries over the years. Are they a total waste of time? What happens if you over-contribute? How much money should you have in your account? Here’s what you need to know…
Q: Are RRSPs ever a waste of time?
A: So, you have a Defined Benefit pension and don’t think RRSPs are worth your time? Depending on the situation (like if your spouse is out of work, or if they are in a lower tax bracket than you), contributing to an RRSP might be a great idea even if you have enough retirement savings. Here’s why.
Q: What are the differences between RRSPs and TFSAs?
A: The biggest differences are contribution limits, and how your money gets taxed upon withdrawal from the accounts…
Macy’s, the largest department store chain in the United States, says its earnings for the quarter that includes the holiday period dropped nearly 13 per cent as results were dragged down by store closures and other costs.
