TFSA Contribution Limit is Now $6,000 For 2019
2022-07-23
TFSA’s contribution limit has just moved up to $6,000 and if you haven’t taken advantage of its tax-free nature then you are leaving money on the table.Continue Reading
Relief May be on the Way — Tax on Both Sides of the Border
2022-07-17
U.S. citizens living in Canada not only have to file Canadian tax returns reporting their worldwide income, but they also have to file U.S. tax returns reporting the same income. That’s because the U.S. imposes taxes and filing requirements based on citizenship, not residency. To make matters worse, if theContinue Reading
Accelerating Mortgage Payments will Free up Cash for RESP, Retirement Savings
2022-07-15
A couple we’ll call Harry, 35, and Tina, 37, are thriving in their careers. Harry, a geologist with a large company, brings home $5,730 a month. Tina, a management consultant in the chemical industry, adds $3,880, for total monthly disposable income of $9,610 a month. They have a two-year-old child.Continue Reading
Move Over RRSP, TFSA – 7 Strategies For Maximizing Investment Returns
2022-07-11
Investors tend to focus first and foremost on gross returns. Since an investor only gets to keep their net return after-tax, tax should be an important factor when it comes to investment decisions. The most basic example of this is to make the most of available tax shelters. Most peopleContinue Reading
Five Things Investors Should Not Do in a Bear Market
2022-07-10
Most markets, and certainly most currencies and commodities, are now officially in a bear market. That’s the arbitrary term for anything that is down 20 per cent from its peak. Of course, many stocks are down 40 or 50 per cent or more, so we might need a new termContinue Reading
5 Stocks That Can Electrify Your TFSA in Late 2018
2018-10-07
The S&P/TSX Composite Index was down triple-digits as of mid-afternoon trading on October 4. Canadian stocks have not responded with as much momentum as their American counterparts in the aftermath of the new trilateral trade agreement between the United States, Mexico, and Canada. Investors who are looking for growth inContinue Reading
5 Steps To Take To Jump-Start Your Financial Success
2017-01-29
Lacey Hamilton hopes to attend the 2018 Winter Olympics in Pyeongchang, South Korea to cheer on the Canadian athletes. To save for the trip, the 22-year-old Mississauga resident drops spare change and $5 bills into a 0.9-litre mason jar that she empties into a savings account when it becomes full.Continue Reading
The TFSA Cap will Stay at $5,500 for 2017
2016-12-19
The annual TFSA dollar limit will remain frozen at $5,500 for 2017 and, in fact, may be stuck at that level until at least 2019, as a result of years of low inflation and the unusual rounding mechanism built into the TFSA limit. This week, the Canada Revenue Agency announcedContinue Reading
5 Things Investors Should Know But Probably Don’t
2016-05-15
Canadian investors love to think they are true masters of their financial kingdom when in practice most studies show many of us don’t realize small insights that could be very beneficial. We’ve uncovered some interesting things, shown below, that every investor should know. What are your thoughts? Have any more?Continue Reading
What Kind of Stocks Should You Hold in a TFSA?
2015-08-02
It seems the conversation of investing in a tax-free savings account (TFSA) becomes quieter and quieter as the months go by in a year, and the conversation is most vibrant at the start of the year. Saving and investing should be a consistent act, so I’m bringing it up again.Continue Reading