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Nvidia shares up 13% on earnings and bullish outlook on A.I. - CNBC Feb 23rd
Nvidia shares up 13% on earnings and bullish outlook on A.I. CNBCNVIDIA beats on EPS, says A.I. is at an inflection point CNBC TelevisionAI Mania Propels Nvidia Value by Nearly $200 Billion This Year BNN BloombergA.I. application has 'been the story all along' for Nv.... More »
Making sense of the markets this week: January 8, 2023 + MORE Jan 6th
Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines of the week and offers context for Canadian investors.
Putting 2022 into context (it was pretty bad)
What caught my eye this week? This chart from Ben Carlson:
Source: A W.... More »
Should you use the RRSP Home Buyers’ Plan on a mixed-use property? + MORE Jul 18th
Ask MoneySense
I have a question regarding the RRSP Home Buyers’ Plan. I am a first-time home buyer. I need to use my RRSP, but the property I want to buy is a mixed-use property. We pay two kinds of taxes for this property: residential and commercial. I want to use the residential part of the pro.... More »
Playing with FIRE: Why financial independence looks different for young Canadians + MORE Mar 27th
Joe Dominguez and Vicki Robin first kindled the FIRE movement (Financial Independence, Retire Early) in their 1992 book Your Money or Your Life (Penguin Books), encouraging people to save aggressively, live frugally and challenge the bounds of a 9-to-5 work week.
The idea flared up again around.... More »
How to make the most of your compensation Jun 19th
How much money do you make? Many people zero in on their paycheques when considering their compensation. Yet experts say workers should regularly check that they’re taking advantage of vacation time and other benefits, lest they leave money on the table.
Employees often receive other cons.... More »
Financial planning in your 70s
– moneysense.ca
When most people think about financial planning, they think about saving and investing for retirement. That is a part of it, but financial planning is much more holistic.
Here are a few financial planning strategies for those approaching or into their 70s. If you’re not there yet, bookmark this for Future You, or share with older family members.
RRSPs
An account holder can only have a Registered Retirement Savings Plan (RRSP) until December 31 of the year they turn 71. By that time, they must either convert their RRSP to a registered retirement income fund (RRIF) or purchase an annuity that provides a regular payment for life from an insurance company.
The conversion age used to be 69, but was increased to the current age 71 in 2007. (I find in the course of my work as a Certified Financial Planner that some people still think it is 69.) It often makes sense to take RRSP withdrawals prior to age 72, and even convert your RRSP to a RRIF as early as age 65.
Minimum RRIF withdrawals at age 72 are 5…
Here are a few financial planning strategies for those approaching or into their 70s. If you’re not there yet, bookmark this for Future You, or share with older family members.
RRSPs
An account holder can only have a Registered Retirement Savings Plan (RRSP) until December 31 of the year they turn 71. By that time, they must either convert their RRSP to a registered retirement income fund (RRIF) or purchase an annuity that provides a regular payment for life from an insurance company.
The conversion age used to be 69, but was increased to the current age 71 in 2007. (I find in the course of my work as a Certified Financial Planner that some people still think it is 69.) It often makes sense to take RRSP withdrawals prior to age 72, and even convert your RRSP to a RRIF as early as age 65.
Minimum RRIF withdrawals at age 72 are 5…
