Doing something different that brings joy but still challenges oneself and is more under your personal control is a form of retirement.skinnyinvestor wrote: ↑07 Mar 2024 08:43 In my own thread, some of the more seasoned posters suggested that retiring early would not be the panacea that I am seeking.
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- 07 Mar 2024 09:39
- Forum: Retirement, Pensions and Peace of Mind
- Topic: April 1st, 2025 [planned retirement date]
- Replies: 69
- Views: 12021
Re: April 1st, 2025 [planned retirement date]
- 07 Mar 2024 09:35
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: BMO Investorline
- Replies: 1268
- Views: 196546
- 06 Mar 2024 22:38
- Forum: Financial News, Policy and Economics
- Topic: Federal Budget 2024
- Replies: 20
- Views: 1174
Re: Federal Budget 2024
On X, Andrew posted that a preliminary number he calculated for 2023 had dropped to 70% that of the US, and if so, the number will look even worse by the time the current government is gone.
This is also a very big tanker that cannot be turned around on a dime even if a new government was to take radical action. There is a certain amount of momentum that would continue before the country at large would, or could, respond. It takes awhile to restore confidence. It is all rather discouraging.
This is also a very big tanker that cannot be turned around on a dime even if a new government was to take radical action. There is a certain amount of momentum that would continue before the country at large would, or could, respond. It takes awhile to restore confidence. It is all rather discouraging.
- 06 Mar 2024 22:32
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: TD Direct Investing (was Waterhouse) Service
- Replies: 3913
- Views: 431760
Re: TD Direct Investing (was Waterhouse) Service
The equity market and bond markets appear to have agreed on the protocols to channel tax reporting through the brokerages as compared to, as you mention, issue tax slips to every individual bond holder/equity share holder. That simply wouldn't make any sense given the number of individual owners of all these securities. So the data is given to the brokerages to generate the various tax slips and issue them to account holders. I suspect the brokerages are compensated for doing this. The mutual fund industry, in whole or in part, has apparently not agreed to do this and they thus generate their own tax slips to owners. This makes sense as well since not all mutual funds are sold through brokerages. This is obviously true for the mother ship b...
- 06 Mar 2024 22:04
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: TD Direct Investing (was Waterhouse) Service
- Replies: 3913
- Views: 431760
Re: TD Direct Investing (was Waterhouse) Service
If it is any consolation, neither BMO as the bank (as compared to BMOIL) nor BNS as the bank (as compared to Scotia iTrade) provide online PDF versions of their ISA tax slips either. The discount brokerages are simply the agents for these ISAs provided by other entities of the mother ship and there is no particular reason why the discount brokerages should actually have anything to do with those tax slips. I was actually surprised to learn a year or two ago that TDDI was in fact presenting T5s for the TD ISAs. As I also understand it, GIC T5s are provided by the actual issuers, not the discount brokerages, and mutual fund T3s are provided by the issuers, not the discount brokerages either. At one time, I owned a Bissett mutual fund in my br...
- 06 Mar 2024 19:56
- Forum: Financial News, Policy and Economics
- Topic: Federal Budget 2024
- Replies: 20
- Views: 1174
Re: Federal Budget 2024
I am disappointed this thread has devolved into 'housing'. We have many other crises occurring with our slumping economic performance relative to our OECD peers and it cannot get better without sound fiscal policy to re-kindle re-investment into productive sectors of our economy. I know I have posted this elsewhere but Andrew Coyne's opinion piece of Canada is no longer one of the richest nations has a lot of data on what has fallen into the abyss in recent years in particular. We need a government with a real vision for picking up this country by the bootstraps with far better deficit management before it hits crisis levels. Just take the charts in that link and project them out on a similar slope for another 10-15 years and you may not sl...
- 06 Mar 2024 18:54
- Forum: Financial News, Policy and Economics
- Topic: Bank of Canada [policy rates]
- Replies: 26
- Views: 3746
Re: Bank of Canada [policy rates]
Many of us here could easily draw the same conclusion looking at the CPI Index curve.....where an inflection point occurs around July 2023.
- 06 Mar 2024 15:45
- Forum: Taxing Situations
- Topic: Tax on RRB sale in cash account
- Replies: 2
- Views: 168
Re: Tax on RRB sale in cash account
The amount in Box 20 can effectively be ignored. Some brokerages do not enter any data for Box 20. Your calculation of Book Value is what matters for acquisition cost. I cannot comment on your specific situation since I do not have, nor do I understand, RRBs.
- 06 Mar 2024 15:14
- Forum: Under the Mattress: Protecting Your Money
- Topic: High interest savings, GICs and MMFs (2024)
- Replies: 179
- Views: 14425
- 06 Mar 2024 10:57
- Forum: Community Centre
- Topic: Nurse Practitioners / Physician Assistants
- Replies: 90
- Views: 2224
Re: Nurse Practitioners / Physician Assistants
Likewise phone appointments. I book via the online portal and doc calls me at the appointed time. We chat for a minute, e.g. no change in medical condition, and done.
- 06 Mar 2024 10:55
- Forum: Taxing Situations
- Topic: GIC Taxation
- Replies: 27
- Views: 1599
Re: GIC Taxation
Yes. 1.3497 is the annual forex rate for recurring (investment) income. Just like for other USD income.
- 05 Mar 2024 16:26
- Forum: Community Centre
- Topic: Nurse Practitioners / Physician Assistants
- Replies: 90
- Views: 2224
Re: Nurse Practitioners / Physician Assistants
There needs to be some checks and balances to ensure credentials are up to standard and some supervision to be sure Canadian protocols and standards are followed but surely that could come with a ~6 month orientation program (or longer in some cases) and exams to get to the quality standard we all should expect, but it should not take 'years' to accomplish this. The system seems designed to throttle rather than to expedite immigrant professionals.
- 05 Mar 2024 12:38
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: TD Direct Investing (was Waterhouse) Service
- Replies: 3913
- Views: 431760
Re: TD Direct Investing (was Waterhouse) Service
It is hard to imagine a brokerage the likes of TDDI screwing up like that. Some heads need to roll there.
- 05 Mar 2024 12:33
- Forum: Community Centre
- Topic: Nurse Practitioners / Physician Assistants
- Replies: 90
- Views: 2224
Re: Nurse Practitioners / Physician Assistants
Thank you for that perspective. It reinforces my view that new physicians in Canada are 'metered' by the system, be it training spots (medical schools and residencies) that I believe seek to protect their own inner circle, and budgets are throttled (rationed) by health ministers. FWIW, I do not blame doctors, and especially female doctors who often have the additional burden of home and child care, from not working full weeks. I have had a few conversations with doctors I have personal experiences with about the depressing revolving door clinic setting on a daily basis and why they cannot do that 40-50 hours per week on a continuous basis, never mind those that go above call of duty to be 'on call' after hours. I have also 'stunned' some ph...
- 05 Mar 2024 11:19
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: BCE (Symbol-BCE)
- Replies: 1857
- Views: 285350
Re: BCE (Symbol-BCE)
You know Pape has to say what he said to avoid the wrath of a phone call from senior management at BCE. It is like analysts which issue Holds rather than Sells.
FWIW, I agree BCE is not going to go into insolvency but they sure blew it raising the dividend when the financials did not support it. First lesson of Finance101 I would think, never mind the wrong message it sends to the political masters who are trying to squeeze them.
It also speaks to the lack of autonomy of the Board. The Board is supposed to act in shareholder interests but we also know that Boards are generally beholden to the CEO who has supported them being Directors to begin with.
FWIW, I agree BCE is not going to go into insolvency but they sure blew it raising the dividend when the financials did not support it. First lesson of Finance101 I would think, never mind the wrong message it sends to the political masters who are trying to squeeze them.
It also speaks to the lack of autonomy of the Board. The Board is supposed to act in shareholder interests but we also know that Boards are generally beholden to the CEO who has supported them being Directors to begin with.
- 05 Mar 2024 10:44
- Forum: Under the Mattress: Protecting Your Money
- Topic: High interest savings, GICs and MMFs (2024)
- Replies: 179
- Views: 14425
Re: High interest savings, GICs and MMFs (2024)
It seems all? many? of the big banks insist on doing this for certain, at least indirectly held, deposit accounts such as ISAs through brokerages, but will do online PDF T5s for directly held deposit accounts.
Even some (many?) of the digital online banks and CUs insist on mailing out T5s rather than online PDF versions which is even more perverse. The thread on this over at highinterstsavings.ca is entertaining, even hilarious, on this matter. Go figure!
- 05 Mar 2024 10:24
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: BCE (Symbol-BCE)
- Replies: 1857
- Views: 285350
Re: BCE (Symbol-BCE)
Financial media has finally woken up to my earlier view that Bell was absolutely stupid hiking their dividend when it is not covered by their earnings or free cash flow. They had no business doing so when all their metrics have been sliding and stock price has also been sliding from $73 two years ago. Telus also did a substantial hike recently as well with deteriorating metrics but at least their metrics were strong enough to support that hike....for now. Rogers has not hiked since 2019 and it has the strongest financials and stock price of the 3 telecoms at the current time. BCE management should be drawn and quartered, and Telus management should be sitting up and taking notes. I don't follow Gordon Pape but behind paywall in the G&M ...
- 05 Mar 2024 10:14
- Forum: Under the Mattress: Protecting Your Money
- Topic: High interest savings, GICs and MMFs (2024)
- Replies: 179
- Views: 14425
Re: High interest savings, GICs and MMFs (2024)
Has anyone here on Scotia iTrade received a T5 for their DYN6004 holding yet? I received a T5 from Scotia for my stock dividend distributions, but nothing for DYN6004 ISA holding. I called them and they said there is a flag for a T3 showing. As T3's are not due to end of March I guess it is not late, but I thought (In the past when I previously had sizable holding of DYN6000) DYN6004 was a ISA and issues T5 and not T3 for interest. That iTrade rep is wrong. I received my T5 late last week (Thurs or Fri) for DYN6004 and DYN6005. The rep on the phone likely thought the symbol meant a true mutual fund which would be a T3 tax slip. In fairness, Scotia iTrade wouldn't know anything about the DYN6004 tax slip anyway because it comes directly fro...
- 04 Mar 2024 21:46
- Forum: Stocks, Bonds, ETFs, Funds, REITS and More
- Topic: BMO Investorline
- Replies: 1268
- Views: 196546
Re: BMO Investorline
Not yet but I expect so in another 1-3 days. It takes about that long for snail mail to deliver something postmarked Feb 28-29.
Add: It will come from Bank of Montreal. Not BMOIL.
- 04 Mar 2024 20:21
- Forum: Financial Planning and Building Portfolios
- Topic: What's your home country bias?
- Replies: 95
- Views: 31847
Re: What's your home country bias?
I agree with George.
Andrew Coyne has a good opinion piece on Canada is no longer one of the richest nations and highlights the slide in GDP per capita. As long as Canada's economy keeps sliding down that slope (Andrew on X has made a preliminary assessment that Canada's 2023 GDP per capita has slid to 70% of the USA from 73% in 2022), it will get worse before it gets better. The slide in our loonie has marched down with our GDP per capita.
Andrew Coyne has a good opinion piece on Canada is no longer one of the richest nations and highlights the slide in GDP per capita. As long as Canada's economy keeps sliding down that slope (Andrew on X has made a preliminary assessment that Canada's 2023 GDP per capita has slid to 70% of the USA from 73% in 2022), it will get worse before it gets better. The slide in our loonie has marched down with our GDP per capita.
- 04 Mar 2024 17:57
- Forum: Under the Mattress: Protecting Your Money
- Topic: Good customer service
- Replies: 233
- Views: 48861
Re: Good customer service
I have not heard of such roaming charge issues wither. We just keep our phones on airplane mode and ensure WiFi is on.
- 04 Mar 2024 15:33
- Forum: Taxing Situations
- Topic: New T3 requirements for joint accounts [that might be bare trusts]
- Replies: 175
- Views: 35908
Re: New T3 requirements for joint accounts [that might be bare trusts]
My view is probate is not a waste to ascertain legitimacy of the Will (the latest) and the identity of the true Executor. The FIs are not going to hang their butts out to dry, i.e. disburse funds to the wrong people under instruction by a fraudulent individual. How else do they assure themselves from taking on liability? However, I do agree the process is too onerous and it shouldn't attract more than a simple Administrative fee for the courts to recover their time.
- 04 Mar 2024 14:36
- Forum: Taxing Situations
- Topic: New T3 requirements for joint accounts [that might be bare trusts]
- Replies: 175
- Views: 35908
Re: New T3 requirements for joint accounts [that might be bare trusts]
Example: 1.4% on $1M is $14000. I do not know of a single beneficiary who should be genuinely upset getting only $986,0000 vs $1M. The alternative could have been getting nothing at all.
Even if it was $10M, a $140k cut to $9,860,000 is hardly a hardship. It does not make it right, but I would still be cartwheeling down the street.
Even if it was $10M, a $140k cut to $9,860,000 is hardly a hardship. It does not make it right, but I would still be cartwheeling down the street.
- 04 Mar 2024 14:05
- Forum: Retirement, Pensions and Peace of Mind
- Topic: Retirement Countdown: Start of 2025
- Replies: 74
- Views: 3974
Re: Retirement Countdown: Start of 2025
In most cases, perhaps civil service and/or union DB plans aside, employees do not appreciate the value of contributions to DB pension plans when receipt of the benefits is so far away and/or they see media examples of DB plans disappearing in corporate bankruptcies. Employers thus cut back on 'benefits' not necessarily valued by at least the younger demographic of their work force. Employers also no longer like the size of their potential liability to service those plans should the returns on pension plan investments fall far short of obligations. There is a lot to conspire the erosion of the value and benefit of DB plans over the years. In my own personal experience, in 27 years of employment with one of my employers, the terms of my DB p...
- 04 Mar 2024 13:37
- Forum: Taxing Situations
- Topic: New T3 requirements for joint accounts [that might be bare trusts]
- Replies: 175
- Views: 35908
Re: New T3 requirements for joint accounts [that might be bare trusts]
Financial institutions need to make it a lot easier for someone like an adult child to manage a parent's account via the proper POA mechanism rather than through a joint account mechanism. The hoops to jump through to use a POA mechanism on financial accounts are too onerous.
The door also needs to be shut on the probate avoidance scheme firstly by provinces dropping their greedy taxation component and making it, or reverting it to, a pure Administrative fee like AB does with its $400 probate application fee. People do some of the damn-est things to avoid a 1.4% taxation type thing.
All that 'sensibility' is wishful thinking of course.
The door also needs to be shut on the probate avoidance scheme firstly by provinces dropping their greedy taxation component and making it, or reverting it to, a pure Administrative fee like AB does with its $400 probate application fee. People do some of the damn-est things to avoid a 1.4% taxation type thing.
All that 'sensibility' is wishful thinking of course.