Search found 1403 matches

by Spudd
28 Mar 2024 13:08
Forum: Retirement, Pensions and Peace of Mind
Topic: A-rated companies that offer long term care insurance?
Replies: 14
Views: 1332

Re: A-rated companies that offer long term care insurance?

...Once you are in a long term care facility, the care is provided and you are only responsible for a co-pay ... The public facilities in Quebec, called CHSLD, have often been in the news for the wrong reasons (before, during and after the pandemic). My impression -- based on reading the news, not personal experience -- is that things are not improving. There are staffing issues, building maintenance issues, etc. Plus there is a waiting list of up to two years (assuming one wants to go there). I'd like to have some options other than a CHSLD if I can afford it. According to this article, Quebec is planning to make all the private long-term care facilities in the province into public facilities. I don't know if this changes your thoughts. h...
by Spudd
25 Mar 2024 16:06
Forum: Retirement, Pensions and Peace of Mind
Topic: RRSP - how much can I contribute right now?
Replies: 4
Views: 183

Re: RRSP - how much can I contribute right now?

If I were you, I'd leave a significant buffer of safety and then top it up to the max once you get your notice of assessment.
by Spudd
21 Mar 2024 15:10
Forum: Taxing Situations
Topic: Final tax return
Replies: 3
Views: 228

Final tax return

My mom passed away at the end of September last year. I have started getting tax documents from TD for her investments, and they cover the entire year of 2023, not just up until the date of her death. My understanding is that when she died, her estate came into existence and it is a separate entity from her. I created a trust (GRE) for the estate recently. Do you pro-rate the T3/T5 documents from the investment co by the proportion of the year that she was alive, and assign part of it to her final tax return and the other part to the estate's T3 return? Or is there some other way to manage this? Or does it all go into her final tax return? Or something else I haven't thought of? I also understand that I have a year from the date of her deat...
by Spudd
21 Mar 2024 14:00
Forum: Community Centre
Topic: Printers
Replies: 21
Views: 488

Re: Printers

I'm a big fan of Brother laser printers. They just keep working. If she just wants a printer, Staples has a small Brother laser for $200.
https://www.staples.ca/products/2764645 ... er-printer

I personally would get an all-in-one as it provides scanning as well, which is frequently useful. This one is similar to mine which I love (I have an older model):
https://www.staples.ca/products/2764643 ... er-printer
by Spudd
20 Mar 2024 13:37
Forum: Taxing Situations
Topic: Capital Cost Allowance categories -- printer, external HDs, hub?
Replies: 9
Views: 371

Re: Capital Cost Allowance categories -- printer, external HDs, hub?

I don't know about TurboTax but there is a spot to put the percent used by business - here are the input fields on WealthSimple Tax:
Screenshot 2024-03-20 133618.png
Screenshot 2024-03-20 133618.png (9.65 KiB) Viewed 238 times
by Spudd
08 Feb 2024 16:46
Forum: Taxing Situations
Topic: Major tax mistakes. Could use some general advice.
Replies: 31
Views: 1938

Re: Major tax mistakes. Could use some general advice.

AltaRed raises a good point about the historical values. As a worst-case scenario you could pick the lowest value the stock traded at that year as your ACB - it couldn't have been lower than that! Or if you remember the month of transaction, you could do it at a more granular level.
by Spudd
08 Feb 2024 16:20
Forum: Taxing Situations
Topic: Major tax mistakes. Could use some general advice.
Replies: 31
Views: 1938

Re: Major tax mistakes. Could use some general advice.

I know that TD didn't fill in box 20 on the T5008 until just a few years ago so I would expect it to be empty on your forms for 2015. I looked at a T5008 I have from 2017 and all the box 20's were blank on it. It's unfortunate that the bank doesn't have any information. I don't think they submit the summary document to the CRA - I believe that's only for the bank customer to use to make filling out their tax forms easier. So I don't think you will receive it from CRA. Hopefully when you're talking about "a few trades" you're not talking about large dollar amounts. If they are smallish amounts, the worst case scenario is that you need to declare the ACB as zero, and take the entire proceeds as a capital gain. Did you maybe keep sta...
by Spudd
08 Feb 2024 16:05
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: How to value a rental Apartment
Replies: 8
Views: 639

Re: How to value a rental Apartment

I think you need to think about it based on the higher value. If you sold that apartment today and got 400k for it, then you could invest that 400k into a GIC and get the GIC level returns.

If the loan is fully paid off and you are making less than 5% profit per year on it, and you actually could get 400k for it, then personally I would consider selling it and moving to something that takes less work to manage.
by Spudd
08 Feb 2024 15:16
Forum: Under the Mattress: Protecting Your Money
Topic: Best Way to Send Money to the US
Replies: 34
Views: 1974

Re: Best Way to Send Money to the US

I recently discovered that I can send money from my EQ Bank USD account to my Wise USD account without fees. The way to do it is use the "international transfer" feature and select ACH. It says there will be a fee, but once it goes through, there is no fee. I'm pretty excited about this as it gives me a way to spend USD without any FX fees, and I can get rid of my TD USD account which charges me $1.49 every time I want to do a withdrawal.
by Spudd
11 Jan 2024 10:11
Forum: Taxing Situations
Topic: TSFA contribution in kind?
Replies: 20
Views: 1032

Re: TSFA contribution in kind?

formerpatriot wrote: 10 Jan 2024 13:57 I am obsessed with contributing exactly 7k (or whatever the annual new contribution room is), not a penny less, not a penny more.

If I were to do an in-kind contribution, how would I contribute exactly 7k?
I just contributed 140 shares of ENB the other day, it came to $6901 or thereabouts. I will contribute the remaining 10-ish bucks in cash.

As to why, a) no risk of losing on the bid/ask spread and possible price fluctuations of the stock, and b) saves the effort of doing the buys and sells.
by Spudd
30 Dec 2023 16:03
Forum: Community Centre
Topic: Home internet providers - 2024
Replies: 20
Views: 1815

Re: Home internet providers - 2024

I switched to Oxio on Bylo's recommendation and have been happy with them. I pay $49 plus tax for 120mbps service. Referral code: RV9TEJD gets you (and me) a free month.
by Spudd
22 Dec 2023 17:09
Forum: Financial Planning and Building Portfolios
Topic: RRSP Providers
Replies: 16
Views: 1181

Re: RRSP Providers

If the company is large enough, I guess they can negotiate for lower MERs/fees. I used to work for P&G and we used Sun Life as our provider for group RRSPs and DC pensions. Index funds were about 0.5% MER in my recollection. I quit about 9 years ago so my memory is fuzzy.
by Spudd
20 Dec 2023 15:20
Forum: Community Centre
Topic: Covid 19 - Vaccine shots
Replies: 66
Views: 4577

Re: Covid 19 - Vaccine shots

My husband and I got the latest booster on Nov 9. On Nov 26 we boarded a cruise, where I caught covid on or before Dec 2. Husband spent 2 nights sleeping in the same room with me and we drove home from the airport together unmasked (I masked in all public areas as did he, once I had gotten sick). He did not catch it. I can only presume the booster did its magic on him. I wasn't so lucky, got a full blown fever/bedridden case. It's now 2.5 weeks later and I still have residual congestion and lung congestion. Fun times.
by Spudd
16 Dec 2023 15:14
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Bank of Montreal (Symbol-BMO)
Replies: 455
Views: 102157

Re: Bank of Montreal (Symbol-BMO)

AltaRed wrote: 16 Dec 2023 11:35 This specific one appears to be a US domiciled thing, but it is kind of hard to imagine one relatively large bank having that much of a loan book on RVs. Are people really still buying (on a new sales basis) those things this decade?
Did you not hear about the pandemic RV boom? They sold like hotcakes. I would not be surprised if a lot of new loans originated in the past few years.
by Spudd
13 Dec 2023 14:29
Forum: Retirement, Pensions and Peace of Mind
Topic: Passive income
Replies: 71
Views: 3620

Re: Passive income

Past 12 months yield on VRIF is 4.46%. It will reset to a new level in January (not sure if higher or lower). This could be a good fit.
by Spudd
14 Nov 2023 15:07
Forum: Community Centre
Topic: Covid 19 - Vaccine shots
Replies: 66
Views: 4577

Re: Covid 19 - Vaccine shots

poedin wrote: 09 Nov 2023 16:47 We were hoping to get our vaccines sooner than later, but none of our local pharmacies (York Region) are stocked. All have said that the shipments should happened by the end of this month.
According to the PC Health app, the Fortinos in Woodbridge has plenty of appointments, as does the Bass Pro Mills Shoppers Drug Mart. I could go on, but I don't know where you live (I just put in Vaughan in the app as my location).
by Spudd
02 Nov 2023 20:25
Forum: Retirement, Pensions and Peace of Mind
Topic: Any questions about CPP?
Replies: 518
Views: 88168

Re: Any questions about CPP?

Dogger1953 wrote: 30 Oct 2023 01:45
Spudd wrote: 28 Oct 2023 14:58 On a related note, my parents were separated for over 10 years but never divorced. My mom died. Is my dad entitled to any survivor benefits, or to get "his half" of the CPP back?
As long as your mother wasn't living with someone else in a valid C/L relationship at the time of her death, than your father should be eligible for a CPP survivor's pension, but he is not entitled to a return of his former earnings.
Thanks!
by Spudd
29 Oct 2023 11:31
Forum: Retirement, Pensions and Peace of Mind
Topic: Any questions about CPP?
Replies: 518
Views: 88168

Re: Any questions about CPP?

It was legal, documented, and signed.
by Spudd
28 Oct 2023 14:58
Forum: Retirement, Pensions and Peace of Mind
Topic: Any questions about CPP?
Replies: 518
Views: 88168

Re: Any questions about CPP?

On a related note, my parents were separated for over 10 years but never divorced. My mom died. Is my dad entitled to any survivor benefits, or to get "his half" of the CPP back?
by Spudd
21 Oct 2023 09:12
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: TD Direct Investing (was Waterhouse) Service
Replies: 3927
Views: 433407

Re: TD Direct Investing (was Waterhouse) Service

BRIAN5000 wrote: 20 Oct 2023 17:33 So if you’re away from home and want to log into TDDI to make a trade how do do it?

2FI try’s to sends text that doesn’t cone. So there is the TD authenticate App that gives you a code but won’t accept it.

Is their a TDDI log-in page that takes you straight to the App to put in the code it generates or something similar.
For TD Authenticate, do you have it set up as an authentication method? If so, then when you try to log in there's a button that says "Use TD Authenticate" or something like that - you click that button and then it prompts you to enter the code. You can't enter the TD Authenticate code if it's expecting a text message code.
by Spudd
14 Oct 2023 16:27
Forum: Financial Planning and Building Portfolios
Topic: Currently low income with a maxed TFSA; RRSP or non-registered next?
Replies: 13
Views: 1345

Re: Currently low income with a maxed TFSA; RRSP or non-registered next?

If your income will be higher than you anticipate it to be in retirement sometime in the next few years, you could contribute to the RRSP now but only claim the deduction once your income is higher. Just be careful when doing your taxes because often the tax software will default to using your entire contribution in the year it's contributed - but this is not mandatory. You can carry it forward as long as you like, and the profits will not be taxed until you withdraw.
by Spudd
14 Oct 2023 10:51
Forum: Under the Mattress: Protecting Your Money
Topic: Cash bonus for opening/transferring investment accounts
Replies: 5
Views: 910

Re: Cash bonus for opening/transferring investment accounts

HardWorker wrote: 14 Oct 2023 10:49
AltaRed wrote: 13 Oct 2023 13:03 They are not of much value to switch unless one is 'done' with their existing brokerage and is looking for a change anyway. Think about BMOIL's $2k promotion for a minute. $2k for $1M is effectively a 0.2% uplift in account value. That is maybe worth 10 minutes of equity market change on a typical day.
I wonder about this as well. Even $5,000 to switch might end up costly if your entire portfolio is in transit and you miss a big market upswing, even for a day.
If you transfer in kind this shouldn't be an issue, right?
by Spudd
09 Oct 2023 14:26
Forum: Financial News, Policy and Economics
Topic: Recommended financial podcasts
Replies: 60
Views: 33916

Re: Recommended financial podcasts

So I tried one episode of "I Will Teach You To Be Rich". I picked episode 8 " My wife is spending too much money ". Let's not go into why I selected that specific episode. :shock: Good topic, reasonable advice overall, but unfortunately, sometimes Ramit sounds like he's got something to sell. His website has sentences like "Unlock your richest life with a personalized system that’s clear and easy to follow". Digging a bit more shows that he sells a range of courses, for example "Mental Mastery" for "12 Monthly Payments of $29". Add the word 'easy' to the last quote and you're into late night infomercial territory ("this piece of junk could be yours right now for 3 easy payments of $29....
by Spudd
07 Oct 2023 14:50
Forum: Retirement, Pensions and Peace of Mind
Topic: Power of Attorney and TFSA
Replies: 6
Views: 1158

Re: Power of Attorney and TFSA

With TD Wealth, I was able to open a TFSA for my mother as POA. The beneficiary had to be "estate", which makes total sense to me. My mom did not have to be involved (good thing, too, as she had full-fledged dementia by then).