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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 »
Nintendo expects to sell 21 million Switch consoles this year - Al Jazeera English May 10th
Nintendo expects to sell 21 million Switch consoles this year Al Jazeera EnglishNintendo FY2022 results (Switch hits 107 million sold) GoNintendoNintendo Switch Has Now Sold Over 107 Million Units Nintendo LifeNintendo announces 10-1 stock split; sees Switch sales fa.... More »
Warren Buffett says U.S. shouldn’t use ‘trade as a weapon’ as Berkshire Hathaway holds meeting - The Globe and Mail May 3rd
Warren Buffett says U.S. shouldn’t use ‘trade as a weapon’ as Berkshire Hathaway holds meeting The Globe and MailWarren Buffett says ‘trade should not be a weapon’ at annual Berkshire meeting CNNLive: Berkshire Hathaway Earnings and Annual Meeting Bloomberg.... More »
Making sense of the markets this week: February 6 Feb 4th
Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.
The first modern-day pandemic—two years later
To my knowledge, I was the first financial writer in Canada to cover the pandemic or suggest it as a concern. It’.... More »
Judge slashes lawyers’ $510M contingency fee for $10B First Nations settlement. Legal team gets $23M instead Oct 29th
“A lawyer’s professional retainer is not a lottery ticket offering a bonus prize of generational wealth to the lawyers if the clients hit the jackpot and win a mega-award.”.... More »
The rise and likely demise of the trailer fee
– moneysense.ca
Regulators are seeking input on the best way to compensate advisors for their advice in the event of a ban on embedded trailer commissions for mutual funds. While many investors don’t even know these fees exist, they’ve become a $5-billion hot potato and their days look numbered as transparency increases and we see a boom in low-fee alternatives such as exchange-traded funds (ETFs).
What comes next?
Regulators have indicated they are exploring a ban but are at this point just asking for input on how an alternative fee-for-advice might work. Expect a noisy debate this fall.
The post The rise and likely demise of the trailer fee appeared first on MoneySense.
Survey: More first-timers than expected are now buying homes
– canadianbusiness.com
WASHINGTON – First-time buyers may be entering the U.S. home market in greater numbers than industry watchers had assumed.
Nearly half of sales in the past year went to people who were buying their first home, according to a survey released Tuesday by the real estate firm Zillow. That’s a much higher proportion of the market than some other industry estimates had indicated.
Zillow’s survey results suggest that this year’s growth in home sales has come largely from a wave of couples in their 30s, who are the most common first-time buyers. If that trend were to hold, it could raise hopes that today’s vast generation of 18-to-34-year-old millennials will help support the housing market as more of them move into their 30s.
That’s among the findings in a 168-page report by Seattle-based Zillow. Its survey also found that home ownership is increasingly the domain of the college-educated. And it indicated that older Americans who are seeking to downsize are paying premiums for smaller houses…
Nearly half of sales in the past year went to people who were buying their first home, according to a survey released Tuesday by the real estate firm Zillow. That’s a much higher proportion of the market than some other industry estimates had indicated.
Zillow’s survey results suggest that this year’s growth in home sales has come largely from a wave of couples in their 30s, who are the most common first-time buyers. If that trend were to hold, it could raise hopes that today’s vast generation of 18-to-34-year-old millennials will help support the housing market as more of them move into their 30s.
That’s among the findings in a 168-page report by Seattle-based Zillow. Its survey also found that home ownership is increasingly the domain of the college-educated. And it indicated that older Americans who are seeking to downsize are paying premiums for smaller houses…
Before the Bell: Stocks set to rise on strong earnings
– theglobeandmail.com
A look at overnight markets and what's ahead this trading day in North America
Trading gains drive Goldman Sachs’ profits sharply higher
– canadianbusiness.com
NEW YORK, N.Y. – Goldman Sachs’ earnings soared in the third quarter, driven largely by trading and investment gains. The results easily surpassed analysts’ estimates.
The New York-based company said Tuesday that it earned $2.1 billion, or $4.88 per share, up from $1.33 billion, or $2.90 per share, in the same period a year earlier. Wall Street analysts were expecting Goldman to earn $3.82 a share, according to FactSet.
While the firm’s investment banking division reported flat revenue, Goldman’s trading desks and the division where it invests its own money did exceptionally well.
Revenue in Goldman’s fixed income, currencies and commodities division jumped 34 per cent to $1.96 billion. Goldman benefited from similar forces that helped boost trading of other major Wall Street banks, including JPMorgan Chase, Citigroup and Bank of America.
Wall Street banks benefited from volatility in bond and currency markets in the third quarter as Britain voted to leave the European Union, sending the pound swinging wildly, and as investors tried to guess when the Federal Reserve will begin raising interest rates…
The New York-based company said Tuesday that it earned $2.1 billion, or $4.88 per share, up from $1.33 billion, or $2.90 per share, in the same period a year earlier. Wall Street analysts were expecting Goldman to earn $3.82 a share, according to FactSet.
While the firm’s investment banking division reported flat revenue, Goldman’s trading desks and the division where it invests its own money did exceptionally well.
Revenue in Goldman’s fixed income, currencies and commodities division jumped 34 per cent to $1.96 billion. Goldman benefited from similar forces that helped boost trading of other major Wall Street banks, including JPMorgan Chase, Citigroup and Bank of America.
Wall Street banks benefited from volatility in bond and currency markets in the third quarter as Britain voted to leave the European Union, sending the pound swinging wildly, and as investors tried to guess when the Federal Reserve will begin raising interest rates…
Markets Right Now: Stocks open higher on Wall Street
– canadianbusiness.com
NEW YORK, N.Y. – The latest on developments in global financial markets (all times local):
9:35 a.m.
Strong earnings reports from a number of companies are driving solid gains on Wall Street in early trading.
Netflix soared 19 per cent early Tuesday after reporting earnings late Monday that were far better than analysts were expecting. Goldman Sachs rose 2 per cent and Comerica gained 3 per cent after both banks also reported better-than-expected results.
Safe-play stocks lagged the market. Phone companies and utilities posted the smallest gains of the 11 sectors in the Standard & Poor’s 500 index.
The Dow Jones industrial average rose 113 points, or 0.6 per cent, to 18,200.
The S&P 500 index climbed 15 points, or 0.7 per cent, to 2,142. The Nasdaq composite increased 51 points, or 1 per cent, to 5,250.
Bond prices fell. The yield on the 10-year Treasury note rose to 1.78 per cent.
The post Markets Right Now: Stocks open higher on Wall Street appeared first on Canadian Business – Your Source For Business News.
9:35 a.m.
Strong earnings reports from a number of companies are driving solid gains on Wall Street in early trading.
Netflix soared 19 per cent early Tuesday after reporting earnings late Monday that were far better than analysts were expecting. Goldman Sachs rose 2 per cent and Comerica gained 3 per cent after both banks also reported better-than-expected results.
Safe-play stocks lagged the market. Phone companies and utilities posted the smallest gains of the 11 sectors in the Standard & Poor’s 500 index.
The Dow Jones industrial average rose 113 points, or 0.6 per cent, to 18,200.
The S&P 500 index climbed 15 points, or 0.7 per cent, to 2,142. The Nasdaq composite increased 51 points, or 1 per cent, to 5,250.
Bond prices fell. The yield on the 10-year Treasury note rose to 1.78 per cent.
The post Markets Right Now: Stocks open higher on Wall Street appeared first on Canadian Business – Your Source For Business News.
