Search found 219 matches
- 11 Jan 2024 10:33
- Forum: Retirement, Pensions and Peace of Mind
- Topic: Early retirement & decumulation of RRSP
- Replies: 6
- Views: 1086
Re: Early retirement & decumulation of RRSP
I retired at 40 and many years I took RRSP or capital gains to hit the lowest MTR and pay a few thousand in income tax. I probably should have taken more as last year I hit the highest MTR here in Ontario just on dividends and capital gains and ~$400 monthly CPP.
- 08 Jan 2024 12:34
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: TFSA 2024
- Replies: 68
- Views: 5327
Re: TFSA 2024
I didn't record well the contributions and withdrawals for TFSA in 2023. I checked CRA website, it only showed contributions and withdrawals until the end of 2022. To be conservative, I assume $7,000 contribution room for 2024, for now. Lesson learnt to make a good record keeping myself. Worst case, you should be able to figure that out by going through your TFSA monthly account statements for last year. The December statement is likely the only one not yet available. Look for your withdrawls and/or transfers under activity for each month (not transfers to another TFSA). I know TDDI also has an activity tab on the account - it would capture Dec but doesn't go back the full year. TDDI reports every TFSA statement the YTD deposits into and w...
- 29 Mar 2023 12:40
- Forum: Financial News, Policy and Economics
- Topic: Federal Budget 2023
- Replies: 63
- Views: 6089
Re: Federal Budget 2023
Yup, hopefully Studiotax 2024 initial release last week of 2024 . I think personally the exemption level increase will win the race against all the other tax raising tweaks, but who knows. All I know for sure is that T691 at its current ~ 8 "pages" or "screens" is going to substantially increase in size.
- 10 Feb 2023 10:28
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: What and why did you sell? What might you sell? (2023)
- Replies: 104
- Views: 15392
Re: What and why did you sell? What might you sell? (2023)
Looks like if I had stayed in BBD.B for ~3 more years after my 2 decades or so of "experience" I would have come out in the green. No matter, I went heavily into oil and gas about the same time I threw in the towel with BBD.B What matters is winning the war, not every individual battle. Pretty sure BBD.B is my lifetime most losing holding LOL.
- 24 Jan 2023 10:24
- Forum: Financial News, Policy and Economics
- Topic: Clippings 2023
- Replies: 343
- Views: 32755
Re: Clippings 2023
I've never thought emergency funds made any sense from an expected value point if view.
Consider a 10% probability of an emergency large enough that it could not be accommodated by borrowing and a half year of austerity and future savings, and also a 10% probability that you would get hammered by selling stocks low. So weigh a 1% chance of a bad outcome due to an emergency versus 40 years of compounding at 10% in stocks instead of 5% in cash. You can challenge my assumed numbers above, but any reasonable set of assumptions will almost certainly leave you hundreds of thousands of dollars ahead after 4 decades.
Consider a 10% probability of an emergency large enough that it could not be accommodated by borrowing and a half year of austerity and future savings, and also a 10% probability that you would get hammered by selling stocks low. So weigh a 1% chance of a bad outcome due to an emergency versus 40 years of compounding at 10% in stocks instead of 5% in cash. You can challenge my assumed numbers above, but any reasonable set of assumptions will almost certainly leave you hundreds of thousands of dollars ahead after 4 decades.
- 21 Dec 2022 11:32
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: Here are my 202x stock picks
- Replies: 574
- Views: 126892
Re: Here are my 202x stock picks
Your recent comments suggest that you don't understand how the TFSA limits work. Maybe I am wrong. The TFSA limit is the maximum you can contribute. It can grow to any number larger if invested well.
- 21 Dec 2022 11:27
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: Here are my 202x stock picks
- Replies: 574
- Views: 126892
Re: Here are my 202x stock picks
My TFSA is up 35% on zero transactions in 2022 YTD. How sure are you that trading will do better long term than sitting on your hands doing nothing most of the time?
- 15 Nov 2022 10:05
- Forum: Financial Planning and Building Portfolios
- Topic: Bloggers or Vloggers Acting as Financial Advisors
- Replies: 11
- Views: 1095
Re: Bloggers or Vloggers Acting as Financial Advisors
It is worth a lot for some people to avoid dealing with an old, wealthy, white, hetro male. Not necessarily for the FA but as an exercise in politics. Looks like an exercise in same sheep, different shepherds.
- 10 Nov 2022 09:10
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: Dividend and distribution hikes (2022)
- Replies: 261
- Views: 72509
Re: Dividend and distribution hikes (2022)
Peyto Exploration and Development PEY increases monthly dividend 120% from $0.05 to $0.11. See November 9 news release.
https://www.peyto.com/News.aspx
https://www.peyto.com/News.aspx
- 14 May 2022 09:23
- Forum: Taxing Situations
- Topic: Proposed Taxes - 2021 Federal Election Promises
- Replies: 86
- Views: 7198
Re: Proposed Taxes - 2021 Federal Election Promises
Well the income tax is temporary to finance the first world war so it is totally credible that a wealth tax would also be temporary.Bylo Selhi wrote: ↑13 May 2022 22:30 Trudeau requested briefing on one-time wealth tax weeks ahead of 2021 election campaign, documents showThe PBO report said a one-time tax of 3 per cent on net wealth over $10-million, and 5 per cent on net wealth over $20-million, would bring in net revenue of $44-billion over five years. Using different assumptions, the PBO estimated the five-year revenue could be as high as $60.7-billion...
- 11 Feb 2022 11:51
- Forum: Taxing Situations
- Topic: Sales of personal items and the CRA…
- Replies: 15
- Views: 2712
Re: Sales of personal items and the CRA…
I second this given how long it takes the government to collect HST on pleasure craft transactions, where these are transactions that are registered with other arms of the same governments. They are actually in possession of the transaction details and it takes them years to get around to asking for the money.SQRT wrote: ↑11 Feb 2022 11:12 I would expect that reporting cap gains to CRA for personal use property, although required in many cases, is very rare. Many people are unaware of the rules and many more have no intention of paying tax on these transactions. I also expect that the chance of getting “caught” by CRA is very small, probably insignificant.
- 07 Feb 2022 07:25
- Forum: Retirement, Pensions and Peace of Mind
- Topic: Estate question: Is it ok to leave deceased spouse's name on title of property?
- Replies: 11
- Views: 3791
Re: Estate question: Is it ok to leave deceased spouse's name on title of property?
I have a friend whose father passed and left the kids a house. Problem was, title was still in the deceased grandfather's name. Took about a year to sort out the title legalities, which happened to work in their favor as price just increased 30% during the delay. You may not be as lucky when a similar situation lands in your lap. I'd maybe get it sorted out now.
- 31 Jan 2022 12:51
- Forum: Taxing Situations
- Topic: Parking Cash in a Margin Account - Any RevCan considerations?
- Replies: 28
- Views: 3271
Re: Parking Cash in a Margin Account - Any RevCan considerations?
I'd say your interpretation is correct. The moment you put cash into the margin account, you have paid back a deductible loan. A later withdrawal that does not buy an investment will not be a deductible loan. Inconvenient and inefficient, but no way around it.
- 30 Dec 2021 11:08
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: Frothy Equity Markets
- Replies: 1395
- Views: 155882
Re: Frothy Equity Markets
Has been a good two years here too. The problem is that while all us oldsters are making out like bandits, the youth are getting screwed. If they have any sense, as the voting block turns over in the next decade or so, they will vote in policies that turn my estimated 30% taxation on my windfall into something like 50%.
- 30 Dec 2021 10:52
- Forum: Retirement, Pensions and Peace of Mind
- Topic: RRSP, RRIF, early withdrawal
- Replies: 17
- Views: 2685
Re: RRSP, RRIF, early withdrawal
I pull money out of my RRSP in years where it has low tax cost. Yes there is a fee, but only $30 IIRC, certainly nowhere near enough to justify my and a bank employee's time in putzing with setting up a RRIF. At 65 when the pension credit appears, it might change the calculations.
- 30 Nov 2021 20:32
- Forum: Taxing Situations
- Topic: Alternative Minimum Tax (AMT) Strategies
- Replies: 77
- Views: 5967
Re: Alternative Minimum Tax (AMT) Strategies
I pay AMT most years. One has 7 years to recover an AMT amount.SQRT wrote: ↑30 Nov 2021 18:37
Surprised AMT was that large for you. Keep in mind you can also address AMT in future years. In fact if the circumstances that caused AMT in the first place, ameliorate or disappear, you will automatically get previous AMT back. I think there is a time limit though. Agree it’s good to be proactive though.
- 26 Nov 2021 10:01
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: Here are my 202x stock picks
- Replies: 574
- Views: 126892
Re: Here are my 202x stock picks
No I am telling you that by choosing an inappropriate analogy, you might have inadvertently foreshadowed the eventual net result. There are absolutely lesser fools who have made money.
- 25 Nov 2021 10:12
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: Here are my 202x stock picks
- Replies: 574
- Views: 126892
Re: Here are my 202x stock picks
I may or may not be a fool, but I am 100% for sure not going to be a "greater fool".
You realize that no real money was made by anyone in the Yukon gold rush, other than those selling transportation, tents, picks and shovels et al?
- 11 Nov 2021 22:35
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: Dividend and distribution hikes (2021)
- Replies: 241
- Views: 82389
Re: Dividend and distribution hikes (2021)
http://www.peyto.com/Files/News/2021/Q3 ... elease.pdf
The Board of Directors of Peyto is pleased to increase the dividend to $0.05/share on a monthly basis to shareholders of record as of November 30, , paid on December 15, 2021.
On annual basis $0.04 -> $0.60
The Board of Directors of Peyto is pleased to increase the dividend to $0.05/share on a monthly basis to shareholders of record as of November 30, , paid on December 15, 2021.
On annual basis $0.04 -> $0.60
- 08 Nov 2021 10:17
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: Here are my 202x stock picks
- Replies: 574
- Views: 126892
Re: Here are my 2020 stock picks
Why though? I just purchased twice, sat on my ass, and reaped high 5 figures 30-40% total return in ENB in under ~2 years.
I won't tell you what my ass sitting has done in oil and gas.
Are you familiar with how stocks are like soap? The more you handle them the smaller they become.
- 12 Jan 2021 11:26
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: Where are the bargains?
- Replies: 50
- Views: 4206
Re: Where are the bargains?
For me it is the idea of hysteresis. There is a buy number where to a great probability I am buying low, a sell number with a great probability I am selling high, and a wide gulf in between where I can't make a determination that the price justifies either buying or selling. I don't actually sit down and put real numbers to this, but it is a useful idea I think.
- 11 Dec 2020 11:27
- Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
- Topic: FOMO by not owning real estate? [Fear Of Missing Out]
- Replies: 47
- Views: 6712
Re: FOMO by not owning real estate? [Fear Of Missing Out]
I am at 5%, but the land here is about $1000/acre plus whatever it costs to sink a well. Plus all the POs were highly incompetent so all my buildings are one big cluster f. After sweat equity I am a loser in real estate after 35 years.
- 07 Dec 2020 12:18
- Forum: Financial Planning and Building Portfolios
- Topic: Warily considering growth investing
- Replies: 65
- Views: 3123
Re: Warily considering growth investing
brucecohen wrote: ↑05 Dec 2020 18:13
There's no capital gains tax if you donate shares with accrued gains, but check with the charity because not all want to deal with shares.
I believe that outfit called "Canada Shares" or some such is a wrapper around this problem. They scalp 2% or so but will forward on funds donated via securities donations to any other registered charity in the country. I have just casually run into this outfit and never deeply investigated, but the above is my impression of how it works.
- 07 Dec 2020 12:11
- Forum: Financial Planning and Building Portfolios
- Topic: Warily considering growth investing
- Replies: 65
- Views: 3123
Re: Warily considering growth investing
AR brings up a good point about using donations of shares to do good while saving on taxes. It's a pretty sweet deal really that you get the tax receipt for the market value, but the sale is booked at ACB for tax filing. I've done it myself a couple of times and will likely do more of this going forward as we have several local organizations that do good work and I can see my donations in action throughout my broader community from food banks to women's shelters to a halfway house for those trying to reintegrate into the community. Nothing more rewarding IMO than charity right here at home! :thumbsup: I have made two donations of securities. IIRC the cash cost of one of my gifts was 43% of the value of the gift and I am not at the top tax ...
- 29 Jul 2020 12:21
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: What did you Buy? What might you buy? (2020)
- Replies: 1015
- Views: 80772