What are private investments? “Private investments” is a catch-all term referring to financial assets that do not trade on public stock, bond or derivatives markets. They include private equity, private debt, private real estate pools, venture capital, infrastructure and alternative strategies (a.k.a. hedge...
Which generation has the easiest time with debt? According to the poll, 55.5% of Canadians think that Boomers (born 1946 to 1964) had an easier time with debt, and the Silent Generation (born 1925 to 1945) comes in next at 21.8%. Gen Z...
Retirement ...
If the trust is required to provide beneficial ownership information, the Schedule 15 form must list the name, date of birth, address and social insurance number of all trustees, settlors, beneficiaries and controlling persons to the CRA. Do bare trusts need to...
Prolong the mortgage amortization period Extending the amortization is a popular option these days, with 25-plus year mortgages becoming the norm. In 2023, RBC reported that 43% of its residential mortgages had amortization periods of more than 25 years. And, as first announced in the...
For example, for income year 2023, the threshold amount is $86,912. If your income in 2023 was $120,000, then your repayment would be 15% of $33,088 (the difference between $120,000 and $86,912). That comes out to $4,963.20. OAS clawbacks are paid off...
Working as a financial planner, I am often asked, “What is the most tax-efficient way to draw down on investments?” From the outset, I question if a decumulation plan based on tax efficiency is the best use of someone’s money. I wonder whether...
“If someone’s not lucky enough to have a company pension, it’s that much more crucial for them to be building up savings on their own,” says Millie Gormely, a Certified Financial Planner at IG Wealth Management in Thunder Bay, Ont. “But that’s...
Macklem says we could see a soft landing For the third straight month, the Bank of Canada (BoC) decided to cut interest rates. The quarter-point cut takes the Bank’s key interest rate down to 4.25%. The news that’s perhaps bigger than the widely anticipated...
Yet Crupi isn’t neglecting retirement. He’s maxing out his tax-free savings account (TFSA) and registered retirement savings plan (RRSP) contribution room to save for all of his long-term financial goals, including life in his golden years. In fact, Crupi’s been putting away...
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