I work in Germany and my company offers me a pension plan. I have several options of contribution and I would like to know which is the most interesting.
My company contributes with 1% of my salary to the pension regardless of what I contribute. From my side, I can chose to contribute 0% of my salary, 1% or 2%; and my company will match my contribution:
• A: Me: 0% -> My company 1%: total 1%
• B: Me: 1% -> company 1 + 1%: total 3%
• C:...
I'm not sure if this is the right category.....but the Peace of Mind seemed to be the right place to bin this.
A married (4 years) couple I know are separating. They bought a home (Ontario) together 2 years ago....in both names. It was appraised (an official Matrimonial Appraisal ) on Date of Separation: $485,000
The question is: If one party wants to remain in the home, how does one determine the amount he/she must pay to the other party to...
Is anyone familiar with Purple Shields Final document service?
Apparently, it does most of the work for your executor.
The pitch is: “We assist in the accurate and timely processing of necessary documents, after the passing of a loved one, speeding your time to claim and closure, while maximizing government and corporate benefits.”
The cost is a one-time fees of around $1200. My guess is that it is probably less expensive than having a...
Having worked in Calgary and Edmonton for 7 years, I love the Canadian Rockies, Banff, Lake Louise, et al. Considering moving to Alberta on retirement. How would healthcare coverage work, can I buy travel insurance for 3 months while waiting for Alberta health to kick in? Anyone experience the quality of healthcare in Alberta vs Ontario, and which cities? Thinking of Red Deer as a small town sounds appealing ... or not? Thoughts and advice...
There has been a lot of talk lately, as there often is at this time of year, about rates of return. It is often pointed out that a single yearly return is of little importance in the long run and that it is the the long term return which matters.
Considering that we all should be concerned then with the total long term return in our portfolios it beggars the question; what has yours been ?
What proportion of your portfolio has been a result of...
In our RIFS we take a monthly minimum withdrawal and 2016 was such a good year, after withdrawals we are still up 27%...as are most of you on this website have had great returns. These banks rock.
I will be turning 65 in January, not in 2017 but in 2018 ( God willing and the creek don’t rise ). I plan to convert some of my BMOIL RSP to a RIF mainly to take advantage of the $2000 Pension Income Tax Credit. So as I understand it, if I transfer some holdings from my RSP to a RIF that I open in 2017, then I need a Year End Portfolio value of $50,000 for the minimum withdrawal of $2000 in 2018. How have others handled this? Transfer a GIC...
Split from TDWaterhouse - New Topic Content
ModeratorW
Posted here because we are with TDW
Checked our beneficiaries and Successors for our RRSP's and TFSA's at TDW both were non-existent so we had to do the paperwork to update them.
At the same time we tried to do POA's on their paperwork. I talked to a Rep and he said it was ok to put what we did but they came back saying we couldn't do that, any opinions?
SHEPP is the pension plan for most health workers in SK. I wonder how many in the plan even know that it is not indexed.
MEPP is the plan for municipal employees. Here is what their plan says re indexing.
Pension for service prior to 1999 indexed to the lesser of:
-Saskatchewan Consumer Price Index
-2% Maximum
-As long as funds are available to support indexing :shock: How reassuring is that?
I will be turning 71 in 2017 and will have to convert my RSP to RIF by the end of next year. My RSP is currently with TDDI. Portfolio is a mix of CAN and US REITs and Dividend stocks.
My objective is to withdraw minimum required under the legislation and to transfer the after tax proceeds to TFSA. Balance will go to my non- registered account. I have sufficient income to meet my normal spending needs, outside RSP.
I turned 41 this year and am just getting interested in investing. In the last few years I have been fortunate enough to excel in my career where I am finally making and saving good money. I have just been leaving my savings in a Tax Free Savings Account but I feel like I should be doing something more with it to make my money grow.
After doing some initial investigating, it seems like Index funds really match up with my goals around...
Working for big bank for many many years, always contributed to DCPP with Sunlife. What if bank is not too big to fail and goes belly up? Just wondering if my DCPP is safe with Sunlife, or if something happens to Sunlife, will my employer compensate? There's no way to get the DCPP out unless I resign and move it to a locked-in RSP, right? Advance apologies if this is a dumb question, but I can't seem to find this discussed anywhere ...
Based on this article, Ottawa still mopping up benefits boondoggle 18 months later - CBC News Thousands of low-income seniors are getting special compensation payments this month after federal bungling denied them their guaranteed income supplement (GIS) cheques for up to seven years.
Ottawa has already delivered retroactive GIS payments to 89,840 seniors, by the end of last month, at an average of $1,970 each — though several hundred got...
I have calculated that if we take ss and pension at 62, we will be ahead until age 77 without factoring in gains on those funds.
If we pay $5,340.61 a month we can get our house mortgage paid off in five years. ss and pension add $2,600, plus we already pay $2,925 on average monthly (we pay biweekly).
I am wondering if I could get some advice as to how to move my investment portfolio from Canada to Australia and what is involved.
I am 61 years of age and an Australian citizen who moved back to Australia last December. I was a permanent resident of Canada for 35 years and have RRSP'S AND RRIF. What penalties or taxes apply.
Has anyone worked for the big blue bank? I'm planning my retirement and want to take advantage of the retirement health insurance sometime in the future. What is the standard formula used for calculating pensionable service as this will determine my eligibility for this and potentially other benefits which I'm still to discover/explore. And unlike many on this forum, I'm an immigrant and won't get full OAS so I need every dime I can get (and as...
OK I admit this is a strange question but if I delay taking CPP until age 65 and die suddenly at 64 what exactly does my spouse get ? Is it easier for my spouse If I was getting CPP and die or does it matter ?
Statistics Canada has estimated different mortality rates by socioeconomic status and various demographic factors, for the first time I believe.
As expected, women live longer than men and non-Aboriginals live longer than Aboriginals. Interestingly, mortality rates are particularly high for Inuit, while Metis are somewhere between Indians and non-Aboriginals.
Surprisingly to me, immigrants have lower mortality rates than non-immigrants. As...
Should one contribute to their RRSP? I just thought up that rhyme now.
But in all seriousness, my goal in life is to retire early. After 10 years of working for somebody else, I do not foresee myself doing the same thing for the next 30 years. I want to own my time, and work on projects that are meaningful to me.
For the past several years, I have been contributing 10k per year to my RRSP. Is this a wise decision if I want to retire in the...
Aspects of this topic have been debated before but perhaps a separate thread is justified.
Roy MacGregor had an article on this theme in the Globe and Mail this week
Growing gap fuels pension envy
Some text .... A system where a few have a lot and the majority have - or will have - very little indeed.
The difference-maker in our futures, says Bill Tufts, is going to be our pension plans. Public or private. Gold-plated pensions versus pensions...
Just need to know the details.
Hypothetically...
If one were to move TFSA mutual funds - let's say Tangerine - to TFSA ETF with a major bank brokerage (I like BMO $10 trades, don't like their ETF, but ETF can be from anywhere).
Correct me if I'm wrong.
Mutual funds will be converted to cash and transferred to brokerage in another bank. Then I have to buy ETF and register them in TFSA, or how they call it sometimes - sell stocks to TFSA . While...
I'm 41 years old with 2 young kids (9 and 6). Wife doesn't work.
Through years of hard work and luck, I've been able to accumulate some money in my business that just sold its key assets. These funds are about 4 million in cash (USD and CAD 60/40 distribution).
My comfortable monthly expenses would be around $8500/month or so. I've a paid off house worth about 500k and another 300k or so in my personal accounts.
I've been good at my business...
I recently turned 62 and plan to take my retirement at 65 if all goes well; my wife is roughly 2 years younger than me. I recently asked my investment advisor and an independent financial advisor for advice to see if there were any possible net tax savings to be had on an early spousal RRSP withdrawal. The result being no real definitive answer either way, so I thought I would ask here.
I have only a limited knowledge here but I will try to...
We are now in our 70's . Looking at selling our home and renting from here on in.One suggestion is to invest the proceeds in Dividend Aristocrats- ETF s. Either one or both of CDZ-t or SDY.n. Would expect to get 6-7% returns.
With the crazy real estate prices our once modest bungalow could fetch nearly a million.
Any comments on this option.
I have been following annuity payout rates on the Globe & Mail website for a few years now. I am puzzled to see that rates for registered funds are always significantly higher than they are for non-registered.
Example, today's best non-registered rate for a single life age 70 male is $598/100k. For registered funds the rate is $627/100k. On the surface, this makes no sense to me. They should logically be the same.
I have two RESP accounts. One has a capital loss. Long story but I trusted it to an asset manager who melted down in 2008.
Need to start withdrawing funds as my oldest just started University. 3 Kids in family RESP.
RESP account (A) is a family RESP. $66K in assets, mostly in money market now. Contributions 50K. CESG $10K. Gain $6K.
RESP account (B) is a family RESP currently worth $10K. Contributions 19K. CESG $3K. Loss12K.
I copied this example from Mike Piper's book, Can I Retire but substituted my own numbers.
If I claim CPP at age 65, I will collect $10960 for the year. If I defer for one year, at age 66 I will collect $11881/yr. This is an increase of $921.
This is economically equivalent to spending $10960 (the amount I give up collecting by deferring for one year) to purchase an inflation adjusted lifetime annuity that will pay me $921/yr for as long as I...
Just reminded by RBCDI that I have not set a beneficiary for my accounts. Since I'm single and childless, the beneficiary is the estate. Should I bother to put something in their designation?
I am not yet retired so I am asking for real world experience from those of you who are retired on asset draw down (including government pensions). This could be the way you did it or in hindsight after your own experience or other retirees you have observed.
Two criteria that would guide your perspective:
1) Some pensions that cover basic requirements, and other assets for extras
2) No pension, personal assets and government pensions need to...
Is it wise to set a DRIP on long term hold U.S. dividend stocks in a Canadian RRSP. I have read that most discount brokerages charge foreign exchange on the initial dividend payment AND on the subsequent DRIP purchase, meaning that a U.S. denominated RRSP account would be best. (?)
I'm in my late 20s, and I'm looking to start my TFSA. I have over $10,000 to invest and I plan to contribute $500 monthly. I do not plan to begin withdrawing money from my retirement fund for another 35 years. I am interested in following the Canadian Couch Potato e-Series recommended funds (TDB909, TDB900, TDB902, TDB911) but I have a few questions.
How should I be allocating my funds? As I will be investing for another 35+ years and not...
Forgive me, I think this has been discussed before but I can't seem to locate it and forgot what the result/wisdom was.
Recent wisdom, especially touted in the financial media family finance profiles, has been to recommend melting down the RRSP. The reason for early withdrawal is to avoid the minimum withdrawal requirements of large amounts that could cause the recognition of the income to make the tax on the individual higher than it otherwise...
Hello all, I have been a lurker for a few years and have learned a great deal and I thank you for that. I was hoping to dip once again into the wealth of financial knowledge here. Quick background - over the past 5-6 years I have implemented the TD e-series Couch Potato type of investing for my wife and I. We accumulate within our TFSA via the e-series and then transfer lump sums into low cost ETFs into...
Still in my 50s and going to open a RRIF with iTrade but had a question.
Would I be able to transfer funds between my rrif and rrsp after they are open? I know I can put the rrif funds back into my rrsp until I'm 71 but is this an easy process like a simple transfer between accounts?
These three investing legends are warning of another market crash...possibly by 60% either late this year or before the end of 2017:
Usually, it's been said that regardless of how the market is doing, buy and hold investors (long term investors planning for retirement) should remain in the market at all times and simply buy more stock when the market dips/crashes....stay the course and stay invested. However, based upon these three investing...
I read this and it made me think about whether one could ever prepare financially for this situation. Has anyone here got the resources to last this long? Talk about a Black Swan Event ------!!
I guess an annuity would work but it would HAVE to be FULLY indexed!! Does such even exist? And even more importantly what are the chances the issuing company would be still around?
Hi, is anyone using Retireware for planning? I'm not a spreadsheet expert and am finding projections hard, especially the taxes. Was using RRIFmetic which was excellent, but now that I've upgraded to Windows 10, can't get any XP session to work.
I find the public domain tools just give me a superficial view but some level of customisation is desired as I'm an immigrant and can't use generic assumptions about OAS, CPP, etc.
I am in my early 20s and I want to begin investing in my retirement fund. I do not plan to withdraw any money until I am retired. I have $20,000 to invest, and I plan to deposit $1000 each month. I am looking for a simple hassle free retirement plan and the Canadian Couch Potato TD e-Series Aggressive model portfolio looks like what I am looking for. I do have a few questions before I go ahead and get my account set-up:
Former employer's pension termination package has arrived. It includes the expected forms for election and terms & conditions, plus a transfers-out form that replaces T2151 and T2033 and should be used when transferring locked-in funds from a Registered Group Plan with so-and-so financial institution.
Google tells me that CRA provides T2151 for transferring out RPP (among other things) to Locked-in RRSP (among other things). It also comes...
My parents are planning to retire in 3-5 years and they are not in the best of shape financially. They have no debt and no mortgage. They have approximately $240k from the sale of their home that they have already deposited into their RRSPs and TFSAs. They are currently renting a condo for $1300/month.
When they retire they should be about 70. They don't have much so I am conflicted on how to invest it. They need to be safe and yet...
CPP was started in 1966. Does anybody know when (what year) they allowed for taking it at age 60 ? Talking with a relative who retired 30 years ago he seems to think he was given the option to take it at age 60 but is not sure. Did the government really allow people to take CPP at age 60 back in 1986 ? Just curious if anybody really knows.
I'm a Canadian young professional looking to begin investing in my retirement fund. I have $15,000 and will be making monthly contributions of $500. I will begin withdrawing from my retirement fund in about 35 years, and I am looking for a simple portfolio that would require me to spend at most a few hours a month to maintain. My knowledge about the finance world is minimal but I am trying to determine how I can maximize my return with minimal...
Need some help here. Retired from my company in June 2014 with a defined benefit pension at 57 years of age. I will be 60 at the end of December 2016. Trying to decide whether to take CPP at age 60 or leave it until age 65. A few of my friends who retired in 2012 elected to take CPP at age 60 a few years ago. I guess there is a bigger penalty now if I take it at age 60. Others are telling me that since I don't need the money and I get penalized...
Lots of discussion on improving the rules for TFSA's. Let's assume they don't change for the foreseeable future for this thread. I've been thinking about what to do with our TFSA's as we age (I'm 65 spouse is 58, been retired about 10 years). For the foreseeable future my plan is to keep contributing the max allowed into the TFSA's and invest in CDN div paying equities.
What I haven't decided on is what to do with them as we get closer to the...
After 50 plus years of active stock picking with reasonable success I have decided to go passive. There is no way my wife could carry on with the his, hers and our portfolios. I have spent quite a time on this and would like to get some feedback on where I am at, after considering many options.
The proposed portfolio is:
Cash 5%
Preferred 20% via ZPR, laddered rate reset preferreds
Banks 10% via ZWB, Canadian banks writing call options
Common...
Lacking imagination I'm looking for some ideas for leaving my daughter an inheritance that she might like to get that we could all use now. In the past a Lake Front property that had been in the family for generations might be a typical idea, that's now gone, she didn't want it. A big pile of cash is kinda boring. She's 26 and we're in our late 50's total cost from zero or next to nothing to @ $250 something special with lots of current use...
A friend called me today about her retirement funds. She is 66 and retired in BC although she had worked in Quebec most of her life. In her retirement portfolio, she has a Cash account, a TSFA, and RRSP and a LIRA. She wanted to know about the latter. I know little if anything about these even though I tried Google. I get the impression that now that she is over 55 and retired, that the funds in the LIRA are as accessible as the ones in her...
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