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Q. I am retired and looking for ways to save tax on assets transferred to my children after my death. My principal residence makes up the majority of my estate and my heirs will likely have to pay probate on my home at the time of my death before it is transferred to them . […]
Chris Davis writes for NerdWallet. Email: [email protected]. The article Calculator: How Long Until You Reach Trillionaire Status? originally appeared on NerdWallet. https://www.nerdwallet.com/finance/learn/am-i-a-trillionaire-yet #financialliteracy #financialfreedom #finance #financialindependence #personalfinance #money #financialeducation #investing #financialplanning #entrepreneur #debtfree #wealth #creditrepair #budgeting #investment #debtfreecommunity #credit #financialadvisor #creditscore #financetips #financialgoals #realestate #debtfreejourney #moneymanagement #creditrestoration #invest #wealthbuilding #creditrepairservices #moneytips #passiveincome #finances #generationalwealth
Calculator: How Long Until You Reach Trillionaire Status? Read More »
You’re looking for a financial adviser . In addition to the usual laundry list of attributes, let’s explore what to avoid. In investing, as in life, the phrase “winning by not losing” comes to mind. While there are certainly empirical markers one can look for and while empathy and bedside manner are often crucial, there
Looking for a financial adviser? Here’s what to seek out, and red flags to avoid Read More »
Tommy Tindall writes for NerdWallet. Email: [email protected]. The article How to Watch the World Cup for Cheap originally appeared on NerdWallet. https://www.nerdwallet.com/finance/news/world-cup-streaming #financialliteracy #financialfreedom #finance #financialindependence #personalfinance #money #financialeducation #investing #financialplanning #entrepreneur #debtfree #wealth #creditrepair #budgeting #investment #debtfreecommunity #credit #financialadvisor #creditscore #financetips #financialgoals #realestate #debtfreejourney #moneymanagement #creditrestoration #invest #wealthbuilding #creditrepairservices #moneytips #passiveincome #finances #generationalwealth
How to Watch the World Cup for Cheap Read More »
Q: I co-signed a loan for my cousin three years ago and never thought about it again since the payments were his responsibility. But I got a call from the lender the other day. The loan is a few months in arrears, and my cousin won’t return the lender’s calls. What are my options? —Darren
I co-signed a loan for my cousin three years ago and now the lender is after me Read More »
Q. My dad recently moved into assisted living and is about to sell his paid-off house. He has a long-term care plan and a generous company pension, so for now he will have about half a million dollars and growing at age 88. He’s in fairly good health, other than his body failing. I have
Should Peter put most of his 88-year-old dad’s money into a fixed-income fund? Read More »
Tell a 60-year-old Canadian with a $4,200 per month defined benefit pension that they are sitting on an asset worth close to $1 million, and they might shrug it off as an abstraction. Offer that same person that lump sum up front, and it’s a different story, says Jeremy Phillips, president and chief executive of
Garry Marr: The revenge of the defined contribution pension plan Read More »
If you filed your 2025 tax return late, or you have yet to file, you could face a late-filing penalty of five per cent of any balance owing, plus one per cent of the balance owing for each month your return is late, to a maximum of 12 months. (Self-employed taxpayers and their spouse or
CRA denied late filing taxpayer relief on penalties and interest Read More »
Courtney Neidel writes for NerdWallet. Email: [email protected]. Twitter: @CourtneyNerd. The article 8 Free (or Cheap) Doughnut Deals for June 5 originally appeared on NerdWallet. https://www.nerdwallet.com/finance/news/doughnut-day-freebies-2026 #financialliteracy #financialfreedom #finance #financialindependence #personalfinance #money #financialeducation #investing #financialplanning #entrepreneur #debtfree #wealth #creditrepair #budgeting #investment #debtfreecommunity #credit #financialadvisor #creditscore #financetips #financialgoals #realestate #debtfreejourney #moneymanagement #creditrestoration #invest #wealthbuilding #creditrepairservices #moneytips #passiveincome
8 Free (or Cheap) Doughnut Deals for June 5 Read More »
You might expect a tax professional like myself to defend the annual ritual of filing tax returns, but I don’t because it has become a necessary evil that serves almost no one well, especially with the shortage of accountants and increased complexity. Most would rather visit the dentist than complete their tax return. Adam Smith,
Automatic tax filing is coming, but the government’s plan still misses the mark Read More »
Q. We are thinking of retiring within one or two years and are curious what tips you have for us. I’m 61 years old and my wife is 58. We adopted two children late in life who are only 13 and 12½ years old, and we have net assets totaling $4.2 million and zero debt.
Can Greg, 61, with adopted younger kids, afford to retire on $4.2 million Read More »
Lauren Schwahn writes for NerdWallet. Email: [email protected]. Twitter: @lauren_schwahn. The article Calculator: How Much Are You Paying for Streaming Services? originally appeared on NerdWallet. https://www.nerdwallet.com/finance/learn/streaming-services-calculator #financialliteracy #financialfreedom #finance #financialindependence #personalfinance #money #financialeducation #investing #financialplanning #entrepreneur #debtfree #wealth #creditrepair #budgeting #investment #debtfreecommunity #credit #financialadvisor #creditscore #financetips #financialgoals #realestate #debtfreejourney #moneymanagement #creditrestoration #invest #wealthbuilding #creditrepairservices #moneytips #passiveincome
Calculator: How Much Are You Paying for Streaming Services? Read More »
I have a “used” house. At least that’s what a friend with an affinity for new properties calls my approximately 40-year-old home. For years, it was a running joke, referring to an existing home the way you would talk about pre-owned clothes or a car. It’s an odd choice of wording in a country where
Garry Marr: Why selling your ‘used’ home is harder than ever Read More »
New anti-flipping rules for residential real estate (including rental properties) that came into effect in 2023 were designed to “reduce speculative demand in the marketplace and help to cool excessive price growth.” The rules essentially prevent you from claiming the principal residence exemption (PRE) to shelter the capital gain realized on the sale of your
Quick home flips can lead to CRA challenge of principal residence exemption Read More »
Alberta-based married couple Andrew*, 55, and Amanda, 40, are parents to two children under the age of 10. With a net worth of about $7.2 million, Andrew wants to know if he can afford to retire. Ideally, he would like to retire this year from his full-time job so he can spend more time with
With $7 million, does Andrew still need to work part-time to afford to retire at 50? Read More »
Tax season officially ended on April 30, which was the general deadline for most Canadians to file their 2025 personal tax returns. (Those with self-employment income, and their spouse or partner, have until June 15 to file.) For the most part, it was smooth sailing, and the 2026 filing season didn’t pose any extraordinary hiccups
What to do if you made a mistake on your tax return or are filing late to the CRA Read More »
There is no obvious sign or particular look that reveals when people are struggling with debt . They show up for family dinners, cover their share of holiday gifts and smile through conversations about mortgage rates and renovation plans. Behind it all, credit card balances keep climbing and the thought of telling anyone can feel
Hidden debt could be costing you more than you think Read More »
Former Citicorp Inc. chief executive Walter Wriston once said “ capital goes where it’s welcome and stays where it’s well treated.” The line has become tax-policy wallpaper. It is, nevertheless, the most useful sentence for thinking about what is unfolding in some jurisdictions, including certain states south of the border. In late April, the SEIU
Wealthy Americans are leaving some U.S. states but they aren’t coming here Read More »
Kimberly Palmer writes for NerdWallet. Email: [email protected]. Twitter: @kimberlypalmer. The article Asked on Reddit: Should I Pay Off My Mortgage or Pad Savings? originally appeared on NerdWallet. https://www.nerdwallet.com/finance/learn/should-i-pay-off-my-mortgage-principal #financialliteracy #financialfreedom #finance #financialindependence #personalfinance #money #financialeducation #investing #financialplanning #entrepreneur #debtfree #wealth #creditrepair #budgeting #investment #debtfreecommunity #credit #financialadvisor #creditscore #financetips #financialgoals #realestate #debtfreejourney #moneymanagement #creditrestoration #invest #wealthbuilding
Asked on Reddit: Should I Pay Off My Mortgage or Pad Savings? Read More »
Kate Ashford, WMS™ writes for NerdWallet. Email: [email protected]. Twitter: @kateashford. The article How Redditors Save Money on Groceries originally appeared on NerdWallet. https://www.nerdwallet.com/finance/news/redditors-save-on-groceries #financialliteracy #financialfreedom #finance #financialindependence #personalfinance #money #financialeducation #investing #financialplanning #entrepreneur #debtfree #wealth #creditrepair #budgeting #investment #debtfreecommunity #credit #financialadvisor #creditscore #financetips #financialgoals #realestate #debtfreejourney #moneymanagement #creditrestoration #invest #wealthbuilding #creditrepairservices #moneytips #passiveincome #finances #generationalwealth
How Redditors Save Money on Groceries Read More »