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U.S. withholding tax in an RRSP for Canadians + MORE Aug 3rd
I have EPD stock in my RRSP for their dividend payments (about 7%). What a surprise I had—even when in an RRSP—I had to pay about 30% tax on these dividends. EPD is registered in Louisiana. —Wanda
How much is withholding tax on U.S. dividends?
I am going to provide a brief summary of U..... More »
Most Canadians don’t understand the CPP + MORE Jan 27th
OTTAWA – Internal evaluations of the Canada Pension Plan show the retirement system is poorly understood by most of the public — a problem retiree Evan Brett avoided only through luck and meticulous record keeping.
The 76-year-old realtor and his wife Latifah dove into their files at their Langl.... More »
Are Canadian pension buybacks worth it? Jul 20th
Ask MoneySense
I am currently transferring my pension from a provincial to a federal government pension plan. I’m trying to determine if it is worth purchasing the balance of service and, if so, should I use my RRSP or TFSA funds. Here’s some relevant info:
Service Credited: 7 years, 140 days.... More »
Making sense of the markets: Looking at 2025 + MORE Jan 3rd
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
Can we make sense of the 2025 markets?
Stock market predictions rarely age well. (As you can read from our look at 2024..... More »
“What type of content am I reading?” + MORE Nov 23rd
You can always tell by how an article is labelled what type of content you’re reading. The label appears not only on the article itself, but anywhere it appears on the website.
No label. If the only label you see is a topic tag, such as Investing or Retirement, that means you’re reading a purely.... More »
The true price of financial advice
– moneysense.ca
(Freeimages.com / Rober Owen-Wahl)Many people worry about running out of money in retirement and some work longer than they would like to avoid such a possibility. Others take on part-time work after officially retiring to make ends meet.
It might be possible to avoid slaving away by learning how to manage money more efficiently. Those who do might save more than they’d earn by working a part-time—or even a full-time—job after retirement.
Unfortunately, many investors have no idea of how much they pay for financial advice. Now, due to new disclosure requirements, known as CRM2 as the latest iteration of the Client Relationship Model, Canadians will be confronted with the cost on their brokerage statements. Expressed clearly in dollars, it’ll come as a shock to many.
To be clear, good advice can be worth paying for and investors who are just starting out should always consult an advisor. But the prices vary and the value can decrease for experienced investors.
When thinking about fees, it’s useful to break the advice business down into two parts…
Why a prenup is a smart investment
– moneysense.ca
TORONTO – A romantic proposal or an invitation to move in with a partner may seem like an awkward time to start planning for a smooth divorce. But with nearly half of Canadian marriages ending before death does couples part, a pre-nup can help individuals emerge from breakups financially unscathed.Slightly more than 43 per cent of couples married in 2008 will divorce before reaching their 50th anniversary, according to Statistics Canada, which stopped providing information on the country’s divorce rate after that year.
“Why wouldn’t we do some advance planning?” asks Michael G. Cochrane, a partner at Brauti Thorning Zibarras in Toronto and author of “Surviving Your Divorce: A Guide to Canadian Family Law.”
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Marriage agreements are called pre-nuptials if signed before the legal marriage ceremony…
