Financial News, Policy and Economics • Re: Clippings 2024
Financial Wisdom Forum
by robgizz
58m ago
And just to be clear… Nothing at all against BRK vs dividend paying companies. I just think that betting everything on a single company is a bad strategy. [/quote] On betting everything on a single company, I don’t think there’s anything wrong with that. In fact I’m betting my all on CYB.TO. It’s somewhat similar to BRK but Canadian. The part I’m enjoying most about this strategy is that I flip the whole of my equity holding to cash in one click of a mouse, when I judge it’s a good idea to lock in important gains. Statistics: Posted by robgizz — 04Mar2024 16:45 ..read more
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Financial Planning and Building Portfolios • Re: RDSP
Financial Wisdom Forum
by Koogie
58m ago
DTC also focuses on the longevity of the condition for which periodic updates are required. If their condition is "curable" or likely to improve the qualification for the DTC can be denied upon renewal. Statistics: Posted by Koogie — 04Mar2024 16:38 ..read more
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Retirement, Pensions and Peace of Mind • Re: Retirement Countdown: Start of 2025
Financial Wisdom Forum
by AltaRed
58m ago
I partially agree that it is not rational. But you have to admit that being bled a little periodically over a long span of time to help fund your pension is easier to handle, if only from an emotional perspective, than having a couple of litres sucked out in one sitting to buy an annuity. A slightly different angle. Are 18% annual contributions (some combination of employer and employee) to a DB Pension Plan much different than putting aside 18% (some combination of employer and employee) annually into a RRSP which is then converted into an annuity upon retirement? Employees in the OTTP like ..read more
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Taxing Situations • Re: How are you keeping corporate minute books?
Financial Wisdom Forum
by HardWorker
59m ago
The law firm does ours. I’m not sure what input you’re thinking would be needed from the accountants, though, do you mean for dividends? We do those ourselves. The dumb way the Tax Act is worded I think requires you to designate an eligible dividend as such in writing at the time you declare/pay it, so I have a template dividend resolution that we use for this purpose & fill in the blanks every time. I do know lots of people just do this once a year in arrears, but that’s not technically right, last time I checked. Though CRA in practice doesn’t seem to care from an audit perspective, for ..read more
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Financial News, Policy and Economics • Re: Clippings 2024
Financial Wisdom Forum
by Bylo Selhi
59m ago
I think your asset allocation is reasonable. The following states what has been said before many times. Ditto. Based on the studies cited in Felix's video there seems to be general consensus on 30% to 40%. Statistics: Posted by Bylo Selhi — 04Mar2024 16:01 ..read more
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Retirement, Pensions and Peace of Mind • Re: Single premium immediate annuity (SPIA)
Financial Wisdom Forum
by Jase
59m ago
Excerpt from an older Yahoo Finance article. "Most of the financial advisors I've discussed this issue with agree that you have to be careful with illustrations that seem too good to be true. And it's not always a dishonest advisor that misleads their clients; at times it's more of a miscommunication. "Annuity illustrations can be misleading because they can be very complex products," said Jamie Pomeroy, a financial advisor in Winona, Minnesota. "There are so many moving parts that often brokers have a difficult time fully understanding the product, let alone illustrating it properly." Whet ..read more
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Community Centre • Re: Nurse Practitioners / Physician Assistants
Financial Wisdom Forum
by AltaRed
59m ago
Until the gatekeeping (throttling) system allows for more MDs, there will always be a physician shortage. The 'suystem' controls the number of medical students in our universities, keeps International graduates out, including Canadians who received their training internationally, and the Health Ministers control funding. Until that system is fixed, we will need NPs and PAs to reduce 15 hour waiting times in ERs. The only reason we latched on to a GP locally some 12 years ago was by sheer luck, quickly signing up for an interview with a new immigrant from South Africa setting up a new practice ..read more
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Taxing Situations • Re: How are you keeping corporate minute books?
Financial Wisdom Forum
by Mudcrab
59m ago
The law firm does ours. I’m not sure what input you’re thinking would be needed from the accountants, though, do you mean for dividends? We do those ourselves. The dumb way the Tax Act is worded I think requires you to designate an eligible dividend as such in writing at the time you declare/pay it, so I have a template dividend resolution that we use for this purpose & fill in the blanks every time. I do know lots of people just do this once a year in arrears, but that’s not technically right, last time I checked. Though CRA in practice doesn’t seem to care from an audit perspective, for ..read more
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Retirement, Pensions and Peace of Mind • Re: Making contribution into SRRSP
Financial Wisdom Forum
by pmj
2h ago
The separate status of personal & spousal continues when RRSPs are transferred to RRIFs. So even if they're kept separate during accumulation, it would probably simplify RRIF management (EG minimum withdrawals) if they were combined before transfer. Statistics: Posted by pmj — 04Mar2024 15:29 ..read more
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Under the Mattress: Protecting Your Money • Re: How to transfer my private pool funds RRSP out of my investment company over to a DIY brokerage
Financial Wisdom Forum
by cardhu
2h ago
I was unaware that Qtrade had its own form so thanks for that. All financial institutions have their own forms … you (the investor) should never need to hunt down the form independently, and if you do, the institution could reject it in favour of using their own form anyway … this kind of transfer is always initiated by the receiving institution so if you want to transfer to Qtrade, then talk to Qtrade about transferring … they’ll have a routine process in place, they’ve done this thousands of times … just specify “transfer in cash” and your existing assets will be liquidated immediately pri ..read more
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