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Open up more than the books to your financial adviser + MORE May 7th
Almost everything about your life can influence your financial decisions..... More »
Air Miles expands offerings, including ways to earn and redeem + MORE Jul 6th
Air Miles has unveiled its new brand platform, complete with an aspirational tagline that aims straight at Canadians’ revenge-travelling hearts: “Collect more moments.”
As you might recall, BMO Financial Group bought Air Miles in March 2023, after the program’s owner, Loyalty Ventur.... More »
Here's why Robinhood is restricting users from buying surging stocks like GameStop - Yahoo Canada Finance Jan 28th
Here's why Robinhood is restricting users from buying surging stocks like GameStop Yahoo Canada FinanceWhy a Reddit group pumped GameStop shares up 1,000% on a lark to make short sellers lose their shirts CBC.ca'This is a drastic shift' — Reddit co-founder Alexis Ohanian on W.... More »
Capital gains tax when renting out your former principal residence Jul 25th
Ask MoneySense
If a person moves to find work, does not sell their home, and rents in the new location for several years, is the original home subject to capital gains if they sell it? It has been rented out in the interim.
—Hugh
Do you pay capital gains when you rent out a former principal.... More »
What to expect from Mark Carney’s fiscal update amid high deficits and rising risks - Toronto Star Apr 26th
What to expect from Mark Carney’s fiscal update amid high deficits and rising risks Toronto StarCarney faces pressure to show results in spring fiscal update: former PBO Global NewsLiberals must show results in spring economic update: former PBO Winnipeg SunCarney .... More »
An investment strategy for a six-figure inheritance
– moneysense.ca
The Problem
David, 31, is an engineer and lives in Toronto with his wife Alex and two-year-old son Leo. Both his father and grandfather were investors and he sees the six-figure estate that he inherited in January as a legacy that he really wants to continue. “My grandfather was a famous mining engineer in Canada and he worked worldwide during the 1930s, 40s and 50s building up a respectable mining business. He passed away in 1979 and my father managed the portfolio my grandfather left him for several years on his own.”
But in his the last couple of years his father’s ill health meant David had to take on more and more of the responsibility for managing his dad’s investments and he learned a lot. “I now realize that through active management we underperformed,” says David. “We would have done better with a passive strategy.” Apart from modest investments in RRSPs and TFSAs, David also owns a home in Toronto with a small mortgage left on it where he plans to live and grow his family…
