Stock news for investors: Mixed Q4 results with big profit gains for Enbridge, Nutrien, and Cenovus + MORE Feb 21st

Here’s a round-up of news for Canadian investors this week.

Enbridge

Nutrien

Teck Resources

Canadian Tire

MTY Food Group

Cenovus Energy

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MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999…

I seldom think about retirement. I rarely, if ever, think about replacing my car tires either—two major Canadian preoccupations that, for most of my life, did not occupy much space in my mind. And yet, as I’ve come to realize, both forms of “re-tirement” are inevitable, expensive, and far easier to manage when you see them coming.

When my family and I moved to Canada seven years ago, we spent months driving through neighbourhoods trying to decide where we wanted to build our life. Every time I got excited about a quiet street, a peaceful cluster of homes, or a beautifully maintained community, my wife would gently remind me that I was admiring retirement communities. It happened so often that I began to joke that my ideal home would be across the street from one. As it turns out, that is exactly where we landed. We became friends with our elderly neighbors, admired the calm rhythm of their days, and began to understand something that had not been obvious to me before: retirement here was not an abstract concept, but rather something people had spent decades deliberately preparing for…

A US traditional individual retirement account (IRA) is a bit like a Canadian registered retirement savings plan (RRSP). A 401(k) is like a defined contribution (DC) pension plan. In both cases, tax-deductible contributions can be made by a retirement saver with future withdrawals generally subject to tax. 

Spousal beneficiary

When a spouse inherits an IRA or 401(k), they can take over the account as an inherited account or transfer the account into their own IRA or 401(k) on a tax-deferred basis. 

IRA and 401(k) accounts generally have required minimum distributions (RMDs) beginning at age 73. These are subject to US withholding tax for a Canadian resident, and Canada taxes the withdrawal with a credit for the US tax already withheld. 

A US citizen living in Canada must report their worldwide income on both a Canadian and US tax return. 

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