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Q. I have recently been made redundant at age 59 and my wife and I need to preserve the capital in my registered retirement savings plan (RRSP) and tax-free savings account (TFSA) while at the same time trying to generate income of about $35,000 net per year for the three to five years until my […]
Laid off at 59, Louie asks how to preserve capital in his retirement savings Read More »
If you own a rental property , you likely bought it because of the monthly rental income the unit would provide, with the hope of ultimately being able to sell it for a profit in the future. Indeed, some landlords are okay with ongoing rental losses (as long as they are not too large) because
Taxpayer loses case to deduct costs and losses while renting to parents Read More »
It’s fair to say most partisan Canadians and their political parties were not thrilled by the results of Monday’s federal election . The surging Liberals did not get their majority (as of press time), even in light of presenting an agenda, from a new shiny face who was not Justin Trudeau, that stoked fear about
Canadians don’t see a unified economic way forward and that’s bad news Read More »
Q. I have a question regarding “ financial advisers ” offered by banks. As a client, I meet from time to time to review my financial plan but I am essentially a DIY investor. For instance, my tax-free savings account (TFSA) is self-directed via the bank’s online brokerage. I am not charged any fee or
How are bank advisers paid? Plus, will bonds help protect my retirement savings? Read More »
With the party leaders’ debates now behind us, and the federal election just days away , what better time to take a brief look at a few of the more interesting tax policies announced by three of the major parties. Lowest tax bracket Both the Liberal Party of Canada and the Conservative Party of Canada
Golombek: A look at four tax proposals floated for the federal election Read More »
Tommy Tindall writes for NerdWallet. Email: [email protected]. The article Empower Personal Dashboard Budget App Review originally appeared on NerdWallet. https://www.nerdwallet.com/article/finance/empower-personal-dashboard-budget-app-review #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
Empower Personal Dashboard Budget App Review Read More »
In his inaugural address in 1961, President John Kennedy famously said, “Ask not what your country can do for you, ask what you can do for your country.” How old-fashioned. What a strange concept. Imagine a country’s leader asking for sacrifice from citizens for the good of the country. Nobody does that today. In Canada,
When the going gets tough, the political parties get soft Read More »
Let’s pretend you want to buy a car for $50,000, but you only have savings of $20,000, so you will need to finance the other $30,000. Now, let’s assume the savings were accumulated from your previous after-tax earnings since your cumulative household expenses were less than your cumulative earnings, and that the interest-bearing financing can
Carney’s ‘spend less, invest more’ marketing catchphrase means more taxes are coming Read More »
Tax-filing season is in full swing, but many Canadians may be missing out on unused tax credits from the past decade because they’re too lazy to claim them. Sixty-five per cent of Canadians are unaware that they can amend old tax returns to claim any benefits they have missed in the previous 10 years, according
As warmer weather signals summer, it sparks ideas of planting a garden and reorganizing your yard or outdoor space. A thoughtfully designed garden not only boosts your home’s value, but it can also be a smart financial move. Growing your own produce can reduce grocery bills, while smart planning keeps outdoor decor costs reasonable, creating
How to save money planting your garden and growing your own food Read More »
Kimberly Palmer writes for NerdWallet. Email: [email protected]. Twitter: @kimberlypalmer. The article Asked on Reddit: How Should I Trim My Monthly Budget? originally appeared on NerdWallet. https://www.nerdwallet.com/article/finance/asked-on-reddit-how-should-i-trim-my-monthly-budget #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
Asked on Reddit: How Should I Trim My Monthly Budget? Read More »
In the lead-up to the federal election on April 28, we’ve heard many proposals from party leaders that will directly affect your pocketbook . The impact of tariffs — including the spectre of job losses and inflation, along with the resulting stock market volatility — has made personal finance policies especially important for voters. Here’s
Jason Heath: What the federal election platforms could mean for your pocketbook Read More »
Q. What is the best investment vehicle for me at this time? I am single, age 38 with a maxed out tax-free savings account (TFSA) . I am a nurse earning $70,000 a year and am a forever renter. I do not see myself buying a home for the foreseeable future. I save about $12,000
What are my best investment options as a ‘forever renter?’ Read More »
Canada’s April 30 tax-filing deadline is fast approaching, but many are planning to delay filing due to confusion over recent tax changes, according to a recent survey by H&R Block Inc. The survey said 29 per cent of Canadians are feeling confused about what they are supposed to claim and 28 per cent are planning
Many Canadians are delaying filing their taxes over confusion with recent changes Read More »
Alberta-based Corinne* has been happily retired for the last three years, but at 69, she wants to make sure her retirement savings will last and potentially fund a retirement home until her death. Over the past 10 years, Corinne has prioritized paying down debt and saving while also helping her young adult children pay for
Alberta-based Corinne, 69, wonders if her retirement savings will last Read More »
I love studying history. In my undergraduate studies, I made sure to load up on post-Confederation Canadian history courses and it’s truly fascinating to learn how this country was built. Similarly, I am always interested if proposed taxation policies were ever considered historically. More often than not, the answer is yes. There have also always
History shows Liberals’ new housing plan failed the last time it was implemented Read More »
Do you know why deductions are more valuable than tax credits? Here’s a rundown of basic tax issues to understand https://financialpost.com/personal-finance/taxes/jamie-golombeks-primer-on-tax-brackets-deductions-and-credits #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp
Jamie Golombek’s primer on tax brackets, deductions and credits Read More »
From credit card approvals to loan interest rates, your credit score’s consequences can help or hold you back from achieving your goals https://financialpost.com/personal-finance/debt/how-to-build-and-maintain-a-good-score #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp
How to build credit and maintain a good score Read More »
Tommy Tindall writes for NerdWallet. Email: [email protected]. The article Honeydue Review: A Budget App for Two originally appeared on NerdWallet. https://www.nerdwallet.com/article/finance/honeydue-app-review #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
Honeydue Review: A Budget App for Two Read More »
Kim Moody: Canada needs bold ideas right now, not increased spending that is fiscal laziness dressed up as leadership https://financialpost.com/personal-finance/capital-gains-tax-break-for-investing-in-canada-is-a-big-idea-that-makes-sense #financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp
Capital gains tax break for investing in Canada is a big idea that makes sense Read More »