However, there is one exemption to this rule—the exempt contribution. Say, you name your spouse or common-law partner as your TFSA account beneficiary. They may be able to use the assets in your TFSA...
How old they are can make a difference If your grandchildren are over the age of majority and are responsible enough to receive an inheritance directly, they can be named as beneficiaries on a...
In our 12-part video series, Money Matters, we interviewed the top voices in Canadian personal finance about money issues that affect all Canadians. For our twelfth video of the series, we asked: What do...
In our 12-part video series, Money Matters, we interviewed the top voices in Canadian personal finance about money issues that affect all Canadians. For our ninth video of the series, we asked: What’s a...
In our 12-part video series, Money Matters, we interviewed the top voices in Canadian personal finance about money issues that affect all Canadians. For our eighth video of the series, we asked: What’s one...
Sellers are letting the market decide their home’s value It’s also important to understand the sellers’ perspective: they don’t want to put a ceiling on their potential sale price. As we’re experiencing really heavy...
Option 3: Contribute the shares to a TFSA or RRSP Finally, instead of selling the shares and withdrawing the cash, your spouse can transfer the shares from his non-registered account to a tax-free savings...
I thought initially this new rule sounded familiar: Back in 1998, another actuary, Malcolm Hamilton wrote the foreword for my co-authored book, The Wealthy Boomer, which talked about the Rule of 40, as it...
In our 12-part video series, Money Matters, we interviewed the top voices in Canadian personal finance about money issues that affect all Canadians. For our seventh video of the series, we asked: What advice...
Locked-in RRSPs, defined contributions (DC) pensions, and deferred profit sharing plans (DPSPs) all have the same rule requiring conversion at age 71. The two big questions for a retiree prior to age 71 are:...
