After the cloudy days of preparing and filing your tax return, many Canadians look forward to the silver lining of a tax refund. Last year I wrote about The Problem with Tax Refunds, arguing that rather than a benefit, refunds represent an interest-free loan to...
Read More“Industry organizations are calling on the federal government to raise the age at which RRSPs must be converted to RRIFs and to reduce the annual RRIF minimum withdrawal rates.” “Industry groups call for changes to RRIF rules,” by Rudy Mezzetta, Advisor’s Edge, March 13, 2023 What is...
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On February 13, 2023, Statistics Canada released a report that found one in four Canadians was unable to cover an unexpected expense of $500. The report went on to compare age groups, racialized groups, and regions. If you are 35 to 44 years old, Black...
Read MoreWith the Registered Retirement Savings Plan (RRSP) contribution deadline for 2022 coming up soon and the personal income tax filing deadline close behind, most Canadian adults are focused on this annual task. I am a financial planner, not a Chartered Professional Accountant (CPA), so I do...
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Someone who is in or nearing retirement has many ways to invest a financial windfall. Here’s how to ensure the money serves you well. I wrote this article for the Qualified Advice column of MoneySense, the online Canadian personal finance magazine. Qualified Advice is written by...
Read MoreAre you looking for New Years Resolutions? If your ideas involve financial concerns, you have come to the right place. Below are nine different options to consider for 2023. All will require a bit of work to accomplish, but equally, all will leave you in...
Read MoreDisability supports at the federal level include the disability benefit available from the Canada Pension Plan, the Disability Tax Credit, and the opportunity to apply for the Registered Disability Savings Plan (RDSP). At the provincial and territorial level, supports for people with disabilities vary. All...
Read MoreDividends and Dates When I worked at a discount brokerage, I routinely fielded questions about dividends, in particular, the record date and the ex-dividend date (often abbreviated as “ex-date”). Investors would often get confused by these two dates and the impact they would have on their...
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Scenario Let’s imagine that you are 35 years old and you have just inherited $50,000. You wonder whether it makes sense to contribute to your RRSP, your TFSA, or whether you should open a non-registered account and invest the money there. You live in Ontario and your...
Read MoreMy dad’s birthday was September 2. He died a little over four years ago just short of age 89. Thanks to his thoughtful approach to financial matters and the careful executorship of my brother, Rob, we four siblings received our inheritances in a timely manner. What...
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