Personal Savings getting you down? There are always smart ways to increase your savings.
Latest News
RESP guide: Making the shift from saving for your child’s post-secondary education, to funding it Jul 18th
A Registered Education Savings Plan is a government-sponsored investment account that’s designed to help adults save towards post-secondary education costs for the children in their lives.
Canadians contributed $5 billion to RESPs in 2019, bringing total assets to $63.7 billion, according to the.... More »
A tax guide for Canadians with disabilities + MORE May 6th
It is the understatement of the century to say that being disabled is expensive. Many advocates refer to the added financial burden as the “disability tax”—the extra, unavoidable costs of living with a disability. In Canada, where about 27% of people identify as disabled according to Statistic.... More »
From RRSP to RRIF—managing your investments in retirement + MORE Nov 19th
Retirement brings many changes in a person’s life and your investment portfolio is one of them. Tracy Andrade, a wealth adviser and certified financial planner at Marnoa Private Wealth Counsel, says it’s challenging for people to see their savings start to decline as they begin spending .... More »
When does it make sense to sell real estate in a larger city and buy in a smaller one? + MORE Jun 6th
Q. I am currently living in Saint John, NB, and renting ($1,450 a month + Internet—very expensive for this little town). I also own a condo in Burlington, Ont., worth about $500,000, which I have been renting out for the past two years. With income taxes factored in, the rent just covers carrying .... More »
Capital gains when selling property to family + MORE Mar 20th
Do I have to pay income tax if I inherited a property jointly with my sister and she bought me out for less than half the appraised value of the property?
—Johanna
Capital gains and transferring property between family
Asset sales between family members can be tricky to facilitate at a family leve.... More »
A TFSA plan to help fund retirement—without losing any sleep
– moneysense.ca
RANDALL BAKER
Age: 65
Location: Winnipeg
Occupation: Worked in manufacturing and safety deficiencies but now retired
TFSA total: $29,632
RANDALL’S TFSA HOLDINGS
iShares Canadian financial monthly ETF (FIE.TO) $29,632
TOTAL: $29,632
Randall Baker recently turned 65 and celebrated with much-deserved retirement party with family and friends. For years, he worked as a specialist in manufacturing and safety delinquencies in Winnipeg while steadily growing an investment portfolio that could give him the comfortable retirement he desired. “I spent years building up my TFSA piecemeal, putting in work bonuses and income tax refunds as they arrived because that was the only way I could find the cash,” says Randall. “I didn’t use systematic investing or dollar cost averaging because with my modest bi-weekly pay I just couldn’t afford it.”
After a few negative investment experiences with a mutual fund company, Randall decided to open a self-directed account…
Age: 65
Location: Winnipeg
Occupation: Worked in manufacturing and safety deficiencies but now retired
TFSA total: $29,632
RANDALL’S TFSA HOLDINGS
iShares Canadian financial monthly ETF (FIE.TO) $29,632
TOTAL: $29,632
Randall Baker recently turned 65 and celebrated with much-deserved retirement party with family and friends. For years, he worked as a specialist in manufacturing and safety delinquencies in Winnipeg while steadily growing an investment portfolio that could give him the comfortable retirement he desired. “I spent years building up my TFSA piecemeal, putting in work bonuses and income tax refunds as they arrived because that was the only way I could find the cash,” says Randall. “I didn’t use systematic investing or dollar cost averaging because with my modest bi-weekly pay I just couldn’t afford it.”
After a few negative investment experiences with a mutual fund company, Randall decided to open a self-directed account…
