The “Big Five” Canadian banks offer investment funds and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Let’s explore the best place for you to invest.
Latest News
Podcast 21: Larry Swedroe on Investing in Retirement Dec 20th
In my final podcast episode of 2018, I’m joined by Larry Swedroe, who has long been one of my favourite authors on investing and financial planning. Larry and I discuss his latest book, Your Complete Guide to a Successful & Secure Retirement, and we focus on the challenges investors face as th.... More »
China’s economy holds up in May but slowing investment points to cooling + MORE Jun 14th
Property investment, construction slow due to cooling measures
.... More »
Businesses and Pest Management + MORE Jun 26th
Paying off the mortgage is crucial for growing your wealth!
The Ins and Outs of Running a Business
No one ever said that running a business was a simple thing. It’s actually the opposite of simple. If you want to soar as an entrepreneur in this world, then you have to put a lot of thought into.... More »
Copper Ridge students from Baie Verte jam out at School Stock - The Western Star Apr 11th
The Western StarCopper Ridge students from Baie Verte jam out at School StockThe Western StarBaie Verte, NL – Fourteen students from Copper Ridge Academy in Baie Verte were among the 70 students, and approximately 40 acts, at SchoolStock 2018 at Jane Collins Academy in Hare Bay on March 29. Aiden .... More »
Are stock markets loaded for bear? + MORE Feb 8th
As 2018 progresses, business leaders and market participants should – and undoubtedly will – bear in mind that we are moving ever closer to the date when payment for today’s recovery will fall due
.... More »
What would a crash in real estate prices mean for Canadians and the country’s economy?
Ford plans job cuts to boost profits
– cbc.ca
Ford is reported to be planning substantial job cuts in order to boost profits and raise its stock price.
4 things to get right when tapping RESP savings
– moneysense.ca
When your kids are on the cusp of starting university and you’re eyeing a hefty tuition bill, you are no doubt thankful for a sizeable balance in your Registered Education Savings Plan (RESP). Sure, it’s a sweet program—but now you have to master the complexities of taking the money out.
Here are four key things you should do with your kids’ RESP when they approach university or college age: Stop contributions when it makes sense; adjust your asset allocation; structure withdrawals to minimize tax; and deplete your RESP at the right time.
By now you probably know the RESP basics. You can earn up to 20% in “core” grants (termed “Canada Education Savings Grants” or CESGs) on your contributions to a maximum lifetime CESG grant total of $7,200 per child. (There are additional grants for low-income families and in certain provinces.) The grants, contributions and investment income are all tax-sheltered until you take the money out.
If you withdraw the money while your kids (the “beneficiaries”) are in post-secondary education, then “grants” and “income” are taxable in your kids’ hands, which generally means little or no tax if you do it right…
Here are four key things you should do with your kids’ RESP when they approach university or college age: Stop contributions when it makes sense; adjust your asset allocation; structure withdrawals to minimize tax; and deplete your RESP at the right time.
By now you probably know the RESP basics. You can earn up to 20% in “core” grants (termed “Canada Education Savings Grants” or CESGs) on your contributions to a maximum lifetime CESG grant total of $7,200 per child. (There are additional grants for low-income families and in certain provinces.) The grants, contributions and investment income are all tax-sheltered until you take the money out.
If you withdraw the money while your kids (the “beneficiaries”) are in post-secondary education, then “grants” and “income” are taxable in your kids’ hands, which generally means little or no tax if you do it right…
Home Capital wakes Canadians to all kinds of investment risks
– theglobeandmail.com
Smart questions are being asked
Can you have RRSPs and RRIFs at the same time?
– moneysense.ca
Q: I have various RRSP accounts and am considering converting some (all) to RRIFs. Must I convert all my RRSP accounts to RRIF at the same time for the total amounts? I am 68.
—Jerry
A: By the end of the year that you turn 71, you need to either convert your RRSP to a RRIF or use your RRSP to purchase an annuity. A Registered Retirement Income Fund (RRIF) is like an RRSP in reverse – you take withdrawals instead of making deposits. Those withdrawals are based on age, with minimum mandatory withdrawal rates rising over time.
At 68, you can still have an RRSP account or even multiple RRSP accounts, Jerry. You can contribute to your own RRSP up to and including the year you turn 71, subject to your RRSP room. If you have a spouse under the age of 71, you can even contribute to a spousal RRSP after you’re age 71 to the extent that you still have RRSP room of your own.
When you convert an RRSP to a RRIF account, Jerry, it’s an election you make by account. In other words, you don’t have to convert all of your RRSP accounts to a RRIF…
