Simple Tax Saving Tips for Anyone People who work for either the CRA or the IRS often feel stressed out because their jobs are so taxing. ? Everyone has to pay taxes of course, but here are a few easy tax saving tips that you can use to minimize your tax burden. Income-split with your trusting spouse. It’s easy… Read More »
Deciding which accounts to hold different assets in Should you put stocks in your RRSP or TFSA? What about fixed income like bonds? This post will answer these types of asset location questions. Readers should already be somewhat familiar with tax advantaged accounts such as the RRSP, and regular taxable accounts. The importance of asset location Asset allocation… Read More »
People retire for different reasons. A skier might retire because he’s going downhill, or an elderly chef could retire because his sage is showing. 😀 But no matter what the circumstances may be we all have to be financially repaired for retirement. This means preparing an adequately sized retirement fund. But what is retirement savings? Some believe it’s what you… Read More »
Finance Minister, Joe Oliver introduced the government’s 2015 Federal Budget yesterday. The big takeaway is that there will be tax breaks for everyone. Yay! 😀 The proposed budget is expected to get passed as the Tories hold a majority government. It’s nice to finally see some welcomed changes in fiscal policy to address the economy rather than rely on… Read More »
July was a decent month. So far in 2014 my wealth has grown by $100,000! Most of that came from investment gains. Awesome possum! 😀 My asset column is growing steadily. If I hypothetically buy a one bedroom, shoebox condo tomorrow for $200,000 then BOOM! I’d technically be a millionaire by gross assets! Just thinking about that gets me all kinds of excited 😀 But I have… Read More »
Last week I invested roughly $5K into two new companies: Timbercreek, and Atrium. Both are mortgage backed securities called MICs and trade publicly on the TSX. Timbercreek (TMC) is based out of Ontario, where it conducts most of it’s lending business. TMC recently lowered its interest payout to 7.8% a year, which is still pretty attractive 🙂 Its CEO… Read More »