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MoneySense magazine: February/March 2015 + MORE Jan 29th
February/March 2015
Volume 16, Number 9
Download the MoneySense app to read this issue on your tablet or smartphone now.
The RRSP advantage
Canada’s best mutual funds
The Best ETFs to buy right now!
Editor’s Letter
By: Duncan Hood
Intelligence
Ask MoneySense
By: Bruce Sellery
Am I On .... More »
When are tax-deferred and tax-free accounts actually taxable? + MORE Feb 9th
Q. I saw your blog online; thank you so much for the wonderful job that you are doing—it was very informative! That motivated me to start investing too, but now I have a couple of questions. I understand that there is tax on US dividends in TFSA, do we pay tax as well when we sell:
U.S. stocks in.... More »
RESP vs RRSP and TFSA: What’s the best option for education savings? Aug 31st
Welcome to Education Money, a new column that covers the questions and concerns parents and investors have about funding their child’s education. Andrew Lo, CEO of Embark, shares his thoughts and insights on how to make the most of RESPs. To kick off the column, he explains the different options C.... More »
MoneySense magazine: September/October 2015 Aug 20th
MoneySense magazine: September/October 2015
Volume 17, Number 5
Download the MoneySense app to read this issue on your tablet or smartphone starting Aug. 19, it’s free for subscribers!
You can also find issues of MoneySense magazine along with 100+ other titles on the Next Issue app. Start y.... More »
A portfolio built to minimize taxes + MORE Oct 7th
Marie Lewis, 58, Toronto (Photo by Micah Bond)
The Problem
The 58-year-old business analyst from Toronto plans to retire in a couple of years, but needs to invest two recent windfalls. Last month, she transferred the six-figure commuted value of her company pension to a Locked-in Retirement Account .... More »
3 Retirement Strategies to Adopt Before Age 30
– walletpop.ca
Filed under: InvestingBy Nicole Seghetti
Motley Fool
As a young person, you exhibit the single most desirable component of the investing universe: time.
Time is the magic ingredient when it comes to making your money grow. If you haven’t yet hit the big 3-0, the financial world is your oyster. A little sacrifice now can reap you big rewards down the road.
Make the most of your time and money during this phase of your life with these three strategies. Your future self will be happy you did.Continue reading 3 Retirement Strategies to Adopt Before Age 303 Retirement Strategies to Adopt Before Age 30 originally appeared on Walletpop Canada on Mon, 08 Jul 2013 09:46:00 EST. Please see our terms for use of feeds.Permalink | Email this | Comments
Voluntary Deferral of Old Age Security Pension Starts – Would You Benefit?
– rhondasherwood.com
As of July 1, 2013, Canadians can choose to delay receiving their Old Age Security Pension (OAS) for up to five years. Would this make sense for your financial situation in retirement? You would have to review your personal situation and sources of income carefully. It’s a good idea to discuss your options with a financial advisor before making a decision.OAS Pension Basics
The OAS pension is a monthly benefit paid out to Canadians and legal residents aged 65 and older. If you have lived in Canada for at least 40 years after age 18 you would receive the full pension. However, if you have lived here for less time, you may qualify for a partial pension. OAS is indexed for inflation quarterly. The current maximum amount is $549.89.
Changes to OAS Age Eligibility
In the 2012 Federal Budget, measures to gradually change the eligibility age for the OAS over six years, starting in April 2023 were introduced. The eligibility age for the OAS pension and the Guaranteed Income Supplement (GIS) will increase from 65 to 67…
Norbert’s Gambit at CIBC: A case study
– moneysense.ca
Norbert’s gambit is an excellent way to reduce the cost of converting Canadian and US dollars, but not every brokerage makes it easy. Recently Justin Bender helped a client of our DIY Investor Service with a large currency conversion inside an RRSP at CIBC Investor’s Edge. It saved the client hundreds of dollars, but it was a complicated transaction and we thought other CIBC investors would benefit from learning the steps.
The difficulty stems from the fact that CIBC does not allow you hold US dollars in registered accounts. Whenever you buy or sell US-denominated securities, the brokerage forces you to convert the currency with the usual spread.
In the example below, the goal was to convert approximately $100,000 CAD to the equivalent in USD, and then use the proceeds to purchase a US-listed ETF. The prices and exchange rates were current at the time Justin made the transactions. For simplicity, we’ve rounded some numbers and ignored the $6.95 trading commission that applied to each trade…
The difficulty stems from the fact that CIBC does not allow you hold US dollars in registered accounts. Whenever you buy or sell US-denominated securities, the brokerage forces you to convert the currency with the usual spread.
In the example below, the goal was to convert approximately $100,000 CAD to the equivalent in USD, and then use the proceeds to purchase a US-listed ETF. The prices and exchange rates were current at the time Justin made the transactions. For simplicity, we’ve rounded some numbers and ignored the $6.95 trading commission that applied to each trade…
