Search found 5148 matches

by brucecohen
19 Jan 2018 09:33
Forum: Retirement, Pensions and Peace of Mind
Topic: Copycat Annuity
Replies: 1
Views: 171

Re: Copycat Annuity

A friend sent me that article a few days ago and it was new to me too. I wish Alexandra (an FWF member) had included numbers from a real case so we could see how much of a haircut the plan member took. In addition to covering the market and longevity risk it assumes, the insurer has to cover the cos...
by brucecohen
16 Jan 2018 09:10
Forum: Under the Mattress: Protecting Your Money
Topic: Important change to the Amazon.ca Rewards Visa Card program
Replies: 42
Views: 1055

Re: Important change to the Amazon.ca Rewards Visa Card program

gaspr wrote:
15 Jan 2018 21:31
Have not got my letter yet but expect to shortly.
Have not got mine yet, but did get a new card to replace the one that expires 2/18. New card expires 2/22. :roll:
by brucecohen
15 Jan 2018 09:43
Forum: Financial News, Policy and Economics
Topic: NAFTA is dead. So now what?
Replies: 44
Views: 2294

Re: NAFTA is dead. So now what?

From Axios, a political news service in Washington: The White House will never admit this publicly, but the president is developing a softer attitude towards the North American Free Trade Agreement (NAFTA). Five sources who've spoken privately with Trump about NAFTA say he's taking more seriously th...
by brucecohen
10 Jan 2018 13:31
Forum: Retirement, Pensions and Peace of Mind
Topic: Pension holdback amount that company won't release to me
Replies: 3
Views: 164

Re: Pension holdback amount that company won't release to me

Defined benefit pension plans in financial stress are allowed to delay commutation payments to departing members. The situation you describe seems especially dire and I'll guess that you were in a multi-employer pension plan. Such plans are common in industries like construction where union tradesme...
by brucecohen
30 Dec 2017 09:28
Forum: Retirement, Pensions and Peace of Mind
Topic: New Hampshire Move - 401K to Roth Conversion
Replies: 10
Views: 281

Re: New Hampshire Move - 401K to Roth Conversion

I am guessing the OP has little to no 'value' built up in Canada having left in 1983. Thirty-four years of absence pretty much means a lifetime. Likely means no OAS, no CPP, etc. I wouldn't dismiss CPP. I left the US more than 40 years ago with only 8 years of Social Security contributions -- 2 yea...
by brucecohen
29 Dec 2017 20:18
Forum: Retirement, Pensions and Peace of Mind
Topic: New Hampshire Move - 401K to Roth Conversion
Replies: 10
Views: 281

Re: New Hampshire Move - 401K to Roth Conversion

I can't comment on your plan but here is an on-point article. Well before returning to Canada confirm that the organization holding your retirement plan will let you trade in it once you become a full-time Canadian resident. If you made any contributions to CPP or QPP before moving to the US make su...
by brucecohen
28 Dec 2017 09:50
Forum: Financial News, Policy and Economics
Topic: Clippings 2017
Replies: 345
Views: 20268

Re: Clippings 2017

NYT has an interesting article on how Sweden is embracing, not just coping with, the introduction of industrial robots. That includes unions as well as management.
by brucecohen
28 Dec 2017 09:16
Forum: Taxing Situations
Topic: UFile 2017
Replies: 29
Views: 1157

Re: UFile 2017

Has anyone switched from TurboTax to Ufile in the past few years. I've always bought TT because I was used to it and it did a good job on pension splitting. Does Ufile properly and automatically import TT carry-forwards and calculate optimal pension split?
by brucecohen
17 Dec 2017 09:19
Forum: Financial News, Policy and Economics
Topic: Clippings 2017
Replies: 345
Views: 20268

Re: Clippings 2017

Money manager/markets writer Barry Ritholz in Bloomberg View: It is that time of year, when the financial industry engages in its annual ritual of making forecasts, which is usually little more than the prelude to looking foolish. Titles like “Outlook for 2018, “What to expect in the new year,” or s...
by brucecohen
15 Dec 2017 09:21
Forum: Retirement, Pensions and Peace of Mind
Topic: TFSA Contribution 2018
Replies: 72
Views: 3099

Re: TFSA Contribution 2018

Koogie wrote:
14 Dec 2017 16:55
Is it "FAIR" that they get to put so much away for retirement ? :wink:
Yes, because the RRSP limits are tied directly to funding limits for DB pension plans. (Actually, DB rules are still more generous but the 1990 RRSP-pension reform did close much of what was an incredibly large gap.)
by brucecohen
01 Dec 2017 09:12
Forum: Financial News, Policy and Economics
Topic: Clippings 2017
Replies: 345
Views: 20268

Re: Clippings 2017

And as for the arguments around fuel conservation To date, ethanol has been antithetical to fuel economy. According to the U.S. Department of Energy, vehicles typically go 3 to 4 percent fewer miles per gallon on E10 and 4 to 5 percent fewer miles per gallon on E15, because ethanol packs only about...
by brucecohen
20 Nov 2017 22:59
Forum: Under the Mattress: Protecting Your Money
Topic: Would you pay an annual fee to join a loyalty program?
Replies: 9
Views: 505

Re: Would you pay an annual fee to join a loyalty program?

I'd consider paying and don't mind the concept, but if the linked article has the complete list of benefits it's not worth it for me. I actually dislike that I have to 'load' offers on the PCF master card, but the value of the points and the prices of the local Superstore are a no-brainer otherwise...
by brucecohen
20 Nov 2017 09:15
Forum: Financial News, Policy and Economics
Topic: Clippings 2017
Replies: 345
Views: 20268

Re: Clippings 2017

While one could estimate a theoretical value for its residual payment stream, the actual price of a GIC does not fluctuate with this theoretical value. There is no actual price because there is no actual market. There is an actual market -- sort of. If the issuer has declared a GIC to be "transfera...
by brucecohen
20 Nov 2017 09:08
Forum: Retirement, Pensions and Peace of Mind
Topic: Property POA - Financial Directive?
Replies: 15
Views: 612

Re: Property POA - Financial Directive?

You can put conditions into a power of attorney, but understand that conditions create complexity and complexity creates risk that the PoA holder will not be able to meet unexpected needs that might develop. Is there no one you fully trust?
by brucecohen
20 Oct 2017 14:33
Forum: Financial Planning and Building Portfolios
Topic: Can i retire off $1Million annuity?
Replies: 11
Views: 899

Re: Can i retire off $1Million annuity?

A key consideration: is the money RRSP or non-RRSP? Payments from an annuity bought with RRSP money are fully taxed as income. Non-RRSP money can be used to buy a prescribed annuity which has favorable tax treatment. OP should check the impact on CPP of retiring so early, assuming he really does pla...
by brucecohen
18 Oct 2017 17:27
Forum: Financial News, Policy and Economics
Topic: NAFTA is dead. So now what?
Replies: 44
Views: 2294

Re: NAFTA is dead. So now what?

From Axios: Mexican President Enrique Peña Nieto told El Economista that Mexico and Canada will continue to participate in NAFTA under bilateral terms even if the U.S. pulls out of it. Trade with the U.S. will continue and be governed by the World Trade Organization's general guidelines, he said. Th...
by brucecohen
18 Oct 2017 08:37
Forum: Financial News, Policy and Economics
Topic: NAFTA is dead. So now what?
Replies: 44
Views: 2294

Re: NAFTA is dead. So now what?

From WaPo: If NAFTA crumbles, trade among Mexico, Canada and the United States would fall under World Trade Organization rules with modest average tariff rates and an established, if unwieldy, process for resolving disputes. But the tariff rates, although relatively low, would be higher on U.S. expo...
by brucecohen
16 Oct 2017 11:10
Forum: Retirement, Pensions and Peace of Mind
Topic: Annuities
Replies: 258
Views: 19478

Re: Annuities

Paywall problem alert. You can try this for any behind the paywall content. It may work.... click on the link just after the article appears, but before it finishes retrieval, click on stop refresh(eg 'X' on chrome browser) Again, it may or may not work depending on when refresh is halted and how r...
by brucecohen
14 Oct 2017 09:06
Forum: Under the Mattress: Protecting Your Money
Topic: Telephone scams
Replies: 51
Views: 3468

Re: Telephone scams

A new scam: Just got a long distance call from a guy with a Caribbean accent. Said he was with Bell Canada. Said they've just reviewed my billing for past 3 months and found total overcharges of $79 to be refunded on my Visa. Wanted to confirm my postal code. Then asked for my Visa number. At that p...
by brucecohen
11 Oct 2017 10:23
Forum: Taxing Situations
Topic: Moving back to Canada from the US
Replies: 6
Views: 339

Re: Moving back to Canada from the US

#2 - as noted... Yes. A US citizen is a US citzen whereever s/he is... forever, until renunciation can be declared. Other dual citizens on this forum can comment better. The US-Can tax treaty though can eliminate most dual taxation through 'foreign tax credits'. Get professional assistance, as othe...
by brucecohen
10 Oct 2017 20:18
Forum: Financial Planning and Building Portfolios
Topic: How far are you from retirement?
Replies: 28
Views: 1451

Re: How far are you from retirement?

I left my full-time job at age 49 and went freelance in order to get control of my time. That didn't work as I ended up with a handful of clients and found myself working more than when I was employed. I could have avoided that if I had first drawn up a business plan. I began gradually shedding clie...
by brucecohen
22 Sep 2017 10:22
Forum: Taxing Situations
Topic: Working as an EXPAT in the US
Replies: 18
Views: 564

Re: Working as an EXPAT in the US

These books are probably worth getting. They're written by financial/tax advisors in the business of helping Canadians and Americans move across the border both permanently and temporarily. The Border Guide The Canadian in America I don't know if either one has been updated in recent years, but most...
by brucecohen
21 Sep 2017 17:30
Forum: Taxing Situations
Topic: Working as an EXPAT in the US
Replies: 18
Views: 564

Re: Working as an EXPAT in the US

Close your TFSAs. Even if you and your wife are willing to pay the tax Uncle Sam will want, the required paperwork is absolutely horrendous. If/when you return to Canada you can open new TFSAs and replace the money you took out.
by brucecohen
11 Sep 2017 13:36
Forum: Retirement, Pensions and Peace of Mind
Topic: Does it make sense to rent in later retirment?
Replies: 43
Views: 2565

Re: Does it make sense to rent in later retirment?

Another financing thought occurred to me this morning. As a homeowner I pay about $8,000/yr in property tax. And that will rise over the next few years as Ontario's market value system phases in the higher valuation MPAC did last year. Tax on the bungalow I've been planning on purchasing some day mi...