One thing I discovered is that I could put out home internet and TV on vacation disconnect. When I was with Shaw, the whole bundle had to stay untouched for the five years. Statistics: Posted by kcowan — 02Jun2024 20:51 ..read more

Sounds like a good plan to me as well, particularly if the reduced (deferred) taxes make it easier to contribute funds to the TFSAs. RRSPs/RRIFs are flexible in the sense that you could begin to take income at anytime, incl just ahead of your pension income if too-high retirement income became a concern due to future RRSP size, etc. We're with TDDI and I have trading authority on my spouse's RRSP and TFSA and have them available when I login to my account, including the ability to make a spousal contribution online. The only time spouse needs to login using their account login is to make the ..read more

Given the parameters and information supplied, I'd probably use the spousal RRSP route. And just to assuage my tendency to fret over if it was the better plan, I'd put the tax rebate into the TFSA just so's I can delusionally tell myself I covered both bases. We used the spousal RRSP in the early years (pre-TFSA), but then the spouse advanced her career and ended up with a larger income (thus pension) than me. No way to have known at the time. Will see how it works out when she RRIFs her plan in a couple of years. Statistics: Posted by LAJ — 02Jun2024 15:42 ..read more

We both have TFSA, but not anywhere near maxed out. They've been my main focus since we already have pensions. I'm just trying to think of strategies to reduce my tax burden since I gave the government an astronomical amount last year. No kids, no business deductions. Statistics: Posted by Dess1313 — 02Jun2024 15:11 ..read more

Yes, I think its a good idea. At 90K your marginal tax rate is 33%. His marginal tax rate is about 26%. Tax deferral and compounding will work well. Shifting some future pension income to spouse likely to work well too. If you want to use his RRSP room, you would need to open a standard, non-spousal RRSP in his name. You could manage it too. You would be using your room for SRRSP. Yes, you should be able to act as an authorized trader on his account. Most brokers allow this. WS does not seem to; you would have to use his credentials to trade, but in any case WS won’t work for you. Wealthsi ..read more

I don't see any mention of TFSAs? Statistics: Posted by LAJ — 02Jun2024 14:47 ..read more

Now that interest rate cut in Canada looks certain, interest paid by money market funds should drop. What to replace them with? What does your investment strategy as documented in your investment policy statement (IPS) suggest you should do? My IPS makes no mention of Bank of Canada rates nor any other economic indicators as a means to manage our investments. What actions did you take when the Bank of Canada started to raise interest rates? (back in 2022 in memory serves me correctly). And rate above 5%/year. From your perspective what is special about 5%/year? From my perspective the o ..read more

Software update has been completed. Statistics: Posted by Peculiar_Investor — 02Jun2024 13:03 ..read more

Longinvest, thank you for all your efforts and congratulations and best of luck going forward with real Real dollars. Thanks Heckler! I have both incorporated the VPW into my own annual plan spreadsheet, as well as set up to use yours for withdrawals. The past ten years I have spent more time on my spreadsheet than getting out in the world. It's literally my second job. Life is a journey, not a destination. I suggest aiming for a good enough plan instead of a perfect one. One thing I am debating is the withdrawal frequency. Monthly would be the best use of "dollar cost averaging", but ann ..read more

If you can share some light on some ways to approach Roger when it's time to renew the plan(s) 1. Find the cheapest plan you can at any carrier that meets your needs. That includes "flanker" brands like Fido, Public, Lucky, etc. https://www.planhub.ca/ is a good place to start. 2. Call Robbers about a month before a plan comes up for renewal. Tell them you want to schedule a cancellation on that future date. 3. When they ask "why" tell them what you found in 1. 4. They may pass you to Retentions who may/may not match that plan. If they do and you're happy, you're done, otherwise... 5. Wait f ..read more