Search found 7726 matches

by brucecohen
20 Oct 2023 21:47
Forum: Retirement, Pensions and Peace of Mind
Topic: Alberta to exit CPP?
Replies: 48
Views: 2885

Re: Alberta to exit CPP?

Shante wrote: 20 Oct 2023 21:11
Jason Yee wrote: 20 Oct 2023 16:51 It's also important to note that a change to the CPP Act requires support from:
1. 2/3 of the provinces, and
2. 2/3 of the population.

A change to the Canadian Constitution only requires a simple majority - it is far more difficult to change the CPP Act than it is the Canadian Constitution.
Pretty sure this is reversed.
The 2 x 2/3 requirement is for amending the Canada Pension Plan Investment Board Act, the legislation that created CPPIB which manages CPP's surplus funds.
by brucecohen
20 Oct 2023 10:14
Forum: Under the Mattress: Protecting Your Money
Topic: to buy new or used car?
Replies: 1590
Views: 126857

Re: to buy new or used car?

[pretty much OT]From Wapo: A guy who restores DeLoreans has bought a 1981 DMC-12 that's been sitting in a Wisconsin barn for decades. Was driven only 977 miles and all of the parts are original. McElhattan and Thomas met Dick, who directed them to the barn and the DeLorean inside it. The exterior was covered in dust, the interior in mouse poop. Aside from that, the car was in remarkably good condition for being more than 42-years-old and was “extremely original,” sporting the same parts it did when it came off the line in Belfast in April 1981. Looking at the VIN, McElhattan figured out it was the 571st DeLorean of the 9,080 that would ultimately be made. “This thing literally is a time capsule,” McElhattan said. <snip> McElhattan said that...
by brucecohen
20 Oct 2023 08:46
Forum: Retirement, Pensions and Peace of Mind
Topic: LIRA vs VPW
Replies: 22
Views: 1541

Re: LIRA vs VPW

Withdrawals from LIRAs are not allowed. The LIRA must be converted to a LIF or LRIF whose minimum withdrawal is the same as that for a RRIF and whose maximum withdrawal calculation varies a bit among jurisdictions. Find out the plan's governing jurisdiction and look up the max calculation via the relevant regulator here.
by brucecohen
18 Oct 2023 23:24
Forum: Retirement, Pensions and Peace of Mind
Topic: Alberta to exit CPP?
Replies: 48
Views: 2885

Re: Alberta to exit CPP?

While looking into Koogie's question about why Quebec is outside CPP I stumbled onto this article from two days ago. Aside from debating benefits and how to get mid-career and older people into the plan, one of Quebec's big drivers was a desire to use pension money to build its own economy. Economic development seemed to be the basis for Alberta's desire to leave CPP, but the finance minister apparently just ruled that out. He said there will be no mandate for APP investments to favour Alberta and that the strategy will centre on broad global investment. Those have been cornerstones of CPP's investment policy for 20+ years for which CPPIB has a pretty good record and status as one of the world's leading pension fund managers. So Alberta's g...
by brucecohen
18 Oct 2023 10:55
Forum: Retirement, Pensions and Peace of Mind
Topic: willful [online Will and POA service]
Replies: 58
Views: 3380

Re: willful [online Will and POA service]

I suspect for "simple wills", there is likely little need to spend $4000+ on a lawyer when there are several options with firms like willful without an actual lawyer on staff or axess with actual lawyers on staff which are able to template simple wills and provide opportunities to discuss simple issues with actual lawyers. A few months ago I called lawyers in my area to get prices for two straightforward wills. Cost for each will ranged from $825 to $1,340 each with one outlier quoting $1,175 for the two wills together. Getting lawyer-drawn wills has been on my to-do list for months and will hopefully get done by year's end. I wrote our current wills myself a few years ago as a challenge, being careful to check all the boxes. A r...
by brucecohen
13 Oct 2023 17:58
Forum: Under the Mattress: Protecting Your Money
Topic: Telephone scams
Replies: 302
Views: 48594

Re: Telephone scams

Do you get paper billing That was the first question the real Bell guy asked. 2nd question was how do I pay. I'm billed by email and there's a PAD to my credit card. The guy said that's good. Thieves do steal mailed bills and payments. I don't print my bills and shred any papers with account numbers. I suspect Bell's system got breached. Incredibly, the scammer called again this evening to ask if I had changed my mind about the discount he offered! :shock: Used the same phone number as last night. It's a landline in Toronto, but I suspect the number is spoofed and the operation is outside Canada. I stupidly told him I'd take the deal but won't provide any personal information. Later occurred to me that they might be gathering my voiceprint...
by brucecohen
13 Oct 2023 14:07
Forum: Under the Mattress: Protecting Your Money
Topic: Telephone scams
Replies: 302
Views: 48594

Re: Telephone scams

Got a call last night from a fellow who claimed he was with Bell and, in response to consumer complaints about high fees, was going to reduce the cost of my satellite TV service by 30% without any programming changes -- if I answered some "verification questions." I told him that was crazy and asked for his name and Bell employee number. He provided both. Also read off full details of my account: customer number, account number, address, email address, last month's billing amount. His first verification question was date of birth. I told him the whole premise of his call was too suspicious, there was no need for any personal info since he had already validated the account and that I would not provide it. He got very aggravated, sa...
by brucecohen
03 Oct 2023 19:21
Forum: Under the Mattress: Protecting Your Money
Topic: Highway tolls US
Replies: 10
Views: 1047

Re: Highway tolls US

In June I drove through NY, Massachusetts and Rhode Island. An internet search indicated that Mass and RI did not have license plate data sharing agreements with Ontario. I received a bill via snail mail for NY Thruway tolls about two months after the trip and paid it online. That gave them my email address so a bill for my return travel was emailed and I again paid online. I've not received bills from Mass and RI. I redid this trip last week and it'll be interesting to see if Mass and RI bill me. A number of years ago my brother, a RI resident, accidentally got onto the 407 and eight months later received a bill in the mail. 407 is privately owned and might have bought license plate data from commercial vendors. The last time I checked, NY...
by brucecohen
03 Oct 2023 13:34
Forum: Taxing Situations
Topic: US withholding tax on VT
Replies: 14
Views: 987

Re: US withholding tax on VT

2 phone calls and chats with 3 people. Hopefully my problem is now straightened out. My W8 expired and they failed to notify me by phone or email. I ultimately wound up with a tax compliance guy who sent me an affidavit like one I filed years ago. He said this affidavit will exempt me from having to worry about W8 renewals unless there's a material change like new address or phone number. Meanwhile he has messaged back office to refund the extra 15% tax they withheld this year.
by brucecohen
01 Oct 2023 16:36
Forum: Taxing Situations
Topic: US withholding tax on VT
Replies: 14
Views: 987

Re: US withholding tax on VT

Yup, that's it. Filed one after renouncing US citizenship and it expired last year. Thanks
by brucecohen
01 Oct 2023 14:51
Forum: Taxing Situations
Topic: US withholding tax on VT
Replies: 14
Views: 987

US withholding tax on VT

I just noticed that TDDI has applied a 30% US withholding tax rate to this year's distributions instead of the normal 15%. Has anyone else encountered this, especially those at other brokers? IIRC, the 15% rate is under the Canada-US tax treaty and I've found no report of it being changed this year.
by brucecohen
20 Sep 2023 13:41
Forum: Financial Planning and Building Portfolios
Topic: Trying to contact MPL Communications about delivery of newsletters stopping
Replies: 11
Views: 2469

Re: Trying to contact MPL Communications about delivery of newsletters stopping

Pmac wrote: 19 Sep 2023 22:22 Hi there,

First time user to the forum. I was wondering if anyone here had had success contracting MPL Communications. My name is Phil, I work for Contra the Heard Investment Newsletter, and I would be interested in speaking with MPL about acquiring their subscriber list. If anyone has had any luck getting in touch with them, I’d love to know how so I can do that myself. Thank you in advance!

Phil
Have you tried Pat McHugh at TSI Network?. He was probably still in touch with MPL's owners though not likely on good terms.
by brucecohen
19 Sep 2023 20:56
Forum: Community Centre
Topic: HDTV and OTA Reception
Replies: 138
Views: 6805

Re: HDTV and OTA Reception

...record programs on a -- gasp! -- VCR... I did gasp :) The options are endless... why don't you get digital recording device..? Also, you can get Elon's sat internet for a reasonable price now. Let me know if you need more detailed advice. Several months ago Bell forced us into replacing our standard satellite TV modem with a high-def one. The high-def one does not have the coax output required for the VCR and jerry rigging a connection would have been complicated, clunky and probably dicey. So we got Bell to upgrade our modem to a PVR. Bell's people did treat us fairly. They listened patiently to my whining and then rejigged our billing so we got more modern service at lower cost than the old modem. Elon's service has no openings for ou...
by brucecohen
13 Sep 2023 23:18
Forum: Community Centre
Topic: Covid 19 - Vaccine shots
Replies: 66
Views: 4577

Re: Covid 19 - Vaccine shots

I've had all shots. Most recent was last April so I'm now teed up for the new one in October. Hope to get flu and covid shots at same time.

BTW, as I mentioned in the other covid thread, BTNX has extended expiry dates for covid test kits distributed by Ontario and maybe other provinces last year. Details are here
by brucecohen
11 Sep 2023 23:11
Forum: Community Centre
Topic: Covid and the immunocompromised.
Replies: 74
Views: 6152

Re: Covid and the immunocompromised.

poedin wrote: 11 Sep 2023 19:54 Wonder how long will it be before it's available for Canadians?
I think Health Canada generally lags the FDA by about three weeks.

Meanwhile, I don't think it was publicized but Covid test manufacturers have extended expiry dates for their kits based on research accepted by the FDA. Here are new expiry dates for covid test kits distributed in Ontario under the provincial program.
by brucecohen
11 Sep 2023 22:57
Forum: Retirement, Pensions and Peace of Mind
Topic: Any questions about CPP?
Replies: 518
Views: 88133

Re: Any questions about CPP?

Dogger1953 wrote: 11 Sep 2023 20:44 Hi Bruce - Answers inserted above.
Thank you very much Doug
by brucecohen
10 Sep 2023 23:17
Forum: Retirement, Pensions and Peace of Mind
Topic: Any questions about CPP?
Replies: 518
Views: 88133

Re: Any questions about CPP?

Under the law and their divorce settlement, a friend of mine who's nearing 60 is entitled to CPP credit splitting with her ex-husband but, if possible, would like to avoid contacting him for a record of his contributions. 1. His earnings history is stronger than hers. She has quite a few no- and low-income years. Would the credit split affect calculation of the optimal age at which she should start receiving her benefit, or only the amount she'll get? 2. I have a very vague recollection that when one one person applies for benefits, CPP automatically sends a letter explaining credit splitting and, I think, an application. Is that right? If so, could my friend avoid contacting her ex and just leave it to CPP to pull his record? 3. Would cred...
by brucecohen
04 Sep 2023 14:31
Forum: Community Centre
Topic: Pet Care
Replies: 6
Views: 442

Re: Pet Care

This says Ontario requires rabies vaccination by a vet for all dogs, cats and ferrets over 3 months old. The current wording in Regulation 567 requires all dogs, cats and ferrets over three months of age (and certain horses, cattle and sheep) to be vaccinated for rabies by a veterinarian that’s licensed in Ontario and with a vaccine that’s approved in Canada (I think a lot of veterinarians in Ontario don’t actually realize this). It makes sense to require re-vaccination of many imported dogs, but not all, especially those vaccinated in the US where veterinary training, vaccines and documentation requirements are basically the same. After July 1, 2023 rabies vaccination will be considered adequate if performed by a veterinarian licensed any...
by brucecohen
26 Aug 2023 16:23
Forum: Financial Planning and Building Portfolios
Topic: Any advices for juvenile in financial world?
Replies: 5
Views: 674

Re: Any advices for juvenile in financial world?

So a couple days ago I watched a YouTube short (i hate social medias, but sometimes I sin) from a movie about 2008 mortgage crisis, and the guy there was spending millions of $ for mortgage swaps (correct me if wrong). So, he got that the market was going down and was betting for the decline... My greaaat humble questing: is it actually possible to make money like that? Sort of. You're talking about Michael Burry , a US hedge fund manager who makes very, very big -- but very, very considered -- bets. He was one of the few Wall Street guys who recognized -- and capitalized on -- the folly of a housing market that could seemingly only go up. It's important to understand that while Burry makes big bets, he does not casually take big risks. He...
by brucecohen
19 Aug 2023 12:09
Forum: Community Centre
Topic: Kelowna wildfire
Replies: 21
Views: 1492

Re: Kelowna wildfire

ghariton wrote: 19 Aug 2023 11:48
kcowan wrote: 19 Aug 2023 11:03 Good luck AR and keep the windows shut to keep the smoke out!
Good luck from me as well.

George
+1
by brucecohen
18 Aug 2023 16:39
Forum: Community Centre
Topic: Kelowna wildfire
Replies: 21
Views: 1492

Kelowna wildfire

Several FWF members live in the Kelowna area. Here's hoping their homes are -- and will continue to be -- safe.

CBC report
by brucecohen
18 Aug 2023 16:33
Forum: Community Centre
Topic: Globe and Mail [and other digital] subscription
Replies: 128
Views: 15064

Re: Globe and Mail [and other digital] subscription

Another option is getting a subscription to Apple News+ which includes Globe & Mail and a bunch of other papers/magazines. Regular price is $12.99+tax/month but costco.ca sells 1-year subscription for $119.99. Note that you can only access content through Apple News app so an Apple device is required. With Apple News+, do you get access to everything the Globe publishes? Or only to select articles? You do with the caveat that the front page view in the app does not match what you see in the online/print edition of the Globe. The search function is decent though and I have been able to find articles fairly easily. I think that article graphics occasionally don't make it into the digital version (e.g. the text might refer to a table/figu...
by brucecohen
17 Aug 2023 10:24
Forum: Community Centre
Topic: Globe and Mail [and other digital] subscription
Replies: 128
Views: 15064

Re: Globe and Mail [and other digital] subscription

My one-year $99 Globe subscription will end this coming Tuesday. I called and asked what deal they could offer me to renew. The CSR offered one year at $119. I asked if that included HST. He said no. I told him I wouldn't pay $135 but would renew for another year at $99 + HST. He immediately said OK. Unlike previous years I did not have to play the game of cancelling and then immediately signing on as a new subscriber. FWIW, the phone line quality was horrible. Sounded like the CSR was working from home on a cellphone. Or out of Canada. BTW, I like the auto repair shop owner who writes a regular column for them. Today he urges people to see now how to pull out the emergency key hidden in their key fobs. Warns that when the fob battery gets ...
by brucecohen
17 Aug 2023 09:32
Forum: Under the Mattress: Protecting Your Money
Topic: Telephone scams
Replies: 302
Views: 48594

Re: Telephone scams

Bylo Selhi wrote: 17 Aug 2023 08:04 It's not going to end well for you unless you just hang up.
Another reason to just hang up: scammers can now feed snippets of conversation into AI systems and generate phone calls in your voice and speaking manner. WaPo reports: Scammers are using artificial intelligence to sound more like family members in distress. People are falling for it and losing thousands of dollars.
by brucecohen
13 Aug 2023 20:25
Forum: Financial News, Policy and Economics
Topic: GDP per Capita
Replies: 42
Views: 3504

Re: GDP per Capita

In a Globe op-ed the author of a CD Howe report on Canada's productivity issues says a key cause of our lag is that Canadian companies are too small compared to those elsewhere and don't spend enough on marketing and sales. While innovation through research and development (R&D) is certainly important to productivity growth – and has preoccupied the federal government over the past half-century – there is also a connection between firm size and productivity. The larger the firm, the more productive it typically is. Logically, then – and the research supports this proposition – one way to increase our productivity is to increase the size of our companies from small and medium to large. Something we have failed to do. And one clear factor...