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How RRIF withdrawals work when you have multiple registered accounts Mar 4th
Ask MoneySense
If I convert, say, 50% of my RRSP to RIF, is the mandatory withdrawal calculation based on the converted 50% or the total (unconverted) RRSP and converted RIF? Does Canada Revenue Agency inform me how much I need to withdraw every year from my RIF?
—Jackie
Withdrawals from m.... More »
Can transferring ownership of a house help avoid probate tax? + MORE May 2nd
Ask MoneySense
I was having dinner with a friend and talking about inheritance tax regarding her parents’ house when they pass away. If they transferred ownership while the parents were still living, what would the impact of the inheritance tax be?
–Mary
Understanding inheritance tax in C.... More »
New active U.S. ETFs for Canadian investors—are these funds worth your money? May 1st
Despite U.S. President Donald Trump’s trade wars and tariffs on key partners, including Canada, the U.S. asset management industry continues to view Canadian investors as an attractive market for actively managed exchange-traded funds (ETFs).
In October 2024, Capital Group, best known for manag.... More »
U.S. set to lose $12.5 billion in international visitor spending as global tension escalates + MORE May 14th
The U.S.-led global trade war and protectionist policies are driving away international tourists and causing significant financial losses that could take years to recover from, World Travel & Tourism Council data shows..... More »
How real estate is taxed during a separation or divorce + MORE May 15th
Ask MoneySense
What happens if a married couple separates, and they own a family house and a cottage. The separation is amicable and the couple would like to split the assets, with the family house going to the wife and cottage going to the husband. Would that trigger any taxes?
—Peter
Sepa.... More »
Married with money: How to combine finances with your partner
– moneysense.ca
If you’re in a relationship, the topic of money will eventually come up. Since the pandemic started, couples have spent more time talking about money, according to a 2021 RBC poll. Almost half—47%—identified finances as one of the biggest stressors in their relationship. One U.S. study found that disagreements over money were a leading predictor of divorce.
Whether you’re planning to cohabitate or you’re already living together and are starting to plan financial goals, here are some tips on bringing your money together.
Talk about money with your partner early
Whether you’re married or not, it’s important to understand your partner’s financial situation, goals and values. Feelings about money formed during childhood often influence us as adults—for instance, fear of not having enough, discomfort with debt, or family taboos around talking about money. Even without these money hang-ups, everyday spending and saving can be stressful when you’re combining finances with another person…
