All their ‘free’ products and apps we are given! A little too late for us. They last a long time if regularly maintained. Hello Loonie Doctor, are you there? I disagree. Don’t touch the contributed $. I also think that there will be major economic and mental health effects that are hard to measure and delayed in presentation. And just because the variants may be here doesn’t mean the game is up and we should allow a few thousand more sunbaked COVID breeders home to freely run amok. But, many folks don’t realize that kids may have considerable income throughout the school year. Paying Dividends vs Salary From A Canadian Controlled Private Corporation To Invest in RRSPs. “Stinky little eating machines that change your whole life and drain your bank accounts.”, ++++ Zero exercise, airless rooms & crappy food. Might even be possible to get a vaccine before leaving to avoid quarantine on return! The Robinhood crowd has targeted silver. * The worst natural disaster from an economic loss perspective happened in China, where seasonal floods wiped out $35B in property, only $2B of which was insured. We all make them. Watching the active case counts come down in Calgary from a high of 6349 on December 10th to the current number of 2527 it seems that while we have made great progress as January ends and the Thanksgiving/Christmas/New Years period recedes. It showed that an RRSP and TFSA will yield a larger after-tax lump of money when liquidated in the future compared to a corporation. Waste of money. For example, if your income is $246K/yr instead of $145K, your refund would be 14K/yr and you would have an after-tax retirement income of 78K/yr after 25yrs. The interface isn’t industry leading but I’m with RBC and the advantage is everything is available from 1 screen. Apparently they both had negative tests upon arrival but the tests were not accepted by officials. Now the yacht club membership, on the other hand, is not to be trifled with. The only thing this country (every country) needs to worry about now is GROWTH! “I should have written: “not the SHARPEST tool in the shed”. re: I have also made an RRSP Jedi Mind Tricks Calculator as an ectopic mind for you to use to see the numbers in action and for you to be able to tailor them to your own situation. Someone considering bringing a child into a world of rapidly depleting resources and exploding population should hardly be lecturing about personal responsibility and entitlement, hmm? #113 crowdedelevatorfartz on 02.01.21 at 8:43 am #21 Faron on 01.31.21 at 1:55 pm That was fine by me because I didn’t really want to sell her half the Jeep. It sells. Especially if looking for something clinically relevant like transmission rate, hospitalization rate, or severe disease. You’re torturing me Don Guillermo, although ‘mi equipo’ is not in the series this year. Damn, I do look forward to the end of these freaking school bills though…, #53 cuke and tomato picker on 01.31.21 at 4:44 pm This one pays less than the officer position but gives me great joy.”. The preferreds are great – just what I want. You can use the RESP money to purchase a car as your child will need to get to and from school. The Power. Now we have 3 million brother in laws that united and take advice from each other. ... Low ratio to common, low debt ratio to retained earnings. They rolled their eyes and walked away. Does it differ old vs new? But, I’m glad to help the feeble minded ’cause the lord is probably busy chuckling at your ilk. Is the cost of making CPP contributions and decreasing the retained earnings in your CCPC from paying yourself some salary offset the benefits of paying yourself a salary and contributing to an RRSP. If you would like to see how your money could grow inside a TFSA, use TDâs TFSA calculator. *********************************** Can I put 50 k in the RESP when I open it. Yes, you will have to pay tax on the 15K some day, but hopefully that is at a lower tax rate and in the interim it makes tax free gains. Was hired by another firm and they shut down a year later. I have actually been working on something similar aimed at my colleagues (doctors and other high income earners) with the new rules to stop income splitting within Professional Corporations coming into affect with the New Year. Essential?/non-essential? Insurance is too much. Our two kids are on easy street with their $180K family RESP and 5 years until the first one starts uni… however since it is tax-deferred, we are looking at holding the contributions in the plan as long as possible and only using the grant+income to be taxed in the kids’ hands. ... #25 Loonie Doctor on 04.05.19 at 5:44 pm . Looking at switching to Wealthsimple away from RBC as apparently they’re killing us with fees. Alternatively, when the form was data entered, the agent's mouse slipped and the TFSA box got ticked on the computer instead of the non-registered box. Red Seal Journeyman easily earning 100k + a year. And refused any other drivers besides her sister. RESPs and such – it’s all run by the Post_secondary Again, check out the government website and ask someone at your bank how people are currently doing this. In fact, it would likely be better without the expenses required to work. —————- Needless to say I got an email a couple weeks later agreeing to my terms so long as she didn’t have to pay me any money for the Jeep itself, just insurance and gas. #26 Dave on 01.31.21 at 2:11 pm I don’t see why they even bother waiting for 1 case, they might as well just permanantly lock down. But sometimes you need a car. My neices and nephews are growing up fast. Where were you a year ago when Dr. Tam gave us a lecture about racism because people called for a ban on international arrivals, especially from covid hot spots? WSB, GME and you are set for life. We aren't all nerdy - just you and me and a few others! “My personal observations: If you write “your” when you should have written “you’re”, it could be just a typo”. “In order to obtain an apprenticeship and work one’s way through a particular program within a skilled trade, the person involved actually has to have a): a brain, and b): some skill.”. Take it all from grant and gains up to the max untaxed income amount for the kids. All Rights Reserved. Again it appears that the regions with the strongest and most-homogeneous cultures, even testo maybe, are punished with the worst lockdowns: Australia, Italy and…Quebec. One questions. Too many questions that other countries have managed to answer, but are apparently beyond Canada’s leaders. I am much like my father, I like telling stories. Actually probably get him one as soon as he gets his license so he can do after school activities and I don’t have to make a 45 minute round trip to pick him up every time. Yup this is what it is. â Garth #6 TAX AND SPEND on 04.05.19 at 4:36 pm . Piece of cake. I laughed at a story where the safety patrol rolled up and demanded where his ear protection was. I don’t mind. He was a fast learner although he quit school at 13 to work farming in the dirty thirties – a tough bastard. And your ilk defends them. Your retirement income after tax would be about $74K. I thought I was going have to leave the car in a forest as a souvenir to the foolish. @ Trudeau’s quarantine crap and Soviet style confinement # 47, “Someone who flew to Cuba last Monday got a Covid nose and throat swap PCR test on arrival in Cuba, then had to get another PCR test 4 days later, then, gets another one on arrival in Canada this Monday, then has to spend $2000 being quarantined at the Canadian airport for 3 days, and then spends the next 11 days “self-quarantining”. Game today -Mexico versus Dominican Republic. Thank you for your response. The New System is a training and compliance script. AIDS is way worse, everybody who gets it dies early. FEB low and slow for vax deliveries, hope the Provinces prepare to administer J&J and Novavax quickly when they arrive EVERYWHERE, anywhere since no cryo or deep freezer storage/transport req’d. ************************************. She also referred to the two kids as mobile Petri dishes that managed to acquire, cultivate and bring every cold, flu, bug and strain of disease known to man….back home. dog”. It does not mathematically make sense to pay it down now due to the 0% interest, so Iâve stopped doing that, but the psychological itchiness is ever present. Ohhh CV Doomers you wont’ be liking this. #105 unbalanced on 02.01.21 at 6:45 am Yes the New System is run by the handful of global tech companies. Well, true, if the person is investing. She’s telling me that she will not have a profit! He waded into the water and threw a 20 pounder onto the bank. An individual or family RESP can stay open for 36 years so if your child doesn’t continue his/her education, you can keep the plan open in case they decide to resume studies later. Biden revokes Trump orders on financial regulation, immigration. I looked at setting up a RESP for our 3 grandkids, but I would be to old to finish contributions before the kids were 17. __________ If you happen to have $50K laying around or find it in the crack of your couch, you can choose to frontload an RESP and forego some grant. A lot depends on parental income (since the alternative is you having the money in a taxable account), the investment mix/return, and the assumption that the student has a low income and pays no tax. Chances of Trudeau’s Goal as of the end of Week 4 2021: Not looking good, for now. Physical work over the long haul can take its toll on the body so we lean to multiple Austria and Germany are helping out. I was offered a position and after some research realized that their product was much too costly for people. You need to pay yourself a salary to be able to make RRSP contributions and take advantage of this Jedi mind trick. The post TFSA Investors: How to Turn $10,000 Into $240,000 in 25 Years appeared first on The Motley Fool Canada. Learning experience. But I assume you’re able to vote in Canada, so what’s your excuse? That’s why they go to university. It’s just another Trudeau policy that ticks the usual boxes: reactionary, over-priced, and ineffectual. • By end of Week 4 this many people SHOULD HAVE been vax’d to achieve Trudeau’s Goal = 3,278,625 (= 819,656 x 4, rounding as 819,656 actually 819,656.2), • End of Week 4 ACTUAL vax’d per CTV Coronavirus vaccine tracker: Let’s say you have a salary of $145K and make the max contribution of $26010/yr to your RRSP. If you have more than one child or are planning to have more, open a family RESP which can be shared among your children. ($3500.00 owing at tax time) Yes they have deductions, but you’ll want to transfer those to the parent is possible. The kid gets an apprenticeship right out of High School. No tuition. Novavax in May? Trades are now an elite career for the gifted few. They are only ones to run a clean new truck in the back woods. How they can do it that fast, CRYO ELECTRON MICROSCOPE – guy in video a little goofy but delivers the goods and after, how they make mRNA vaccine: https://www.pbs.org/video/inside-the-lab-that-invented-the-covid-19-vaccine-jnt6jk/, https://en.wikipedia.org/wiki/Pfizer%E2%80%93BioNTech_COVID-19_vaccine#Manufacturing, Still the issue of 5% efficacy Moderna, Pfizer which means NO IMMUNITY after vax for this many Cdns ≥ 15 yrs old = 1,598,330. 4 years later University is ok as long as you graduate in medicine, law, engineering, pharmacology, and maybe (just maybe) accounting (which requires an apprenticeship of sorts regardless and a subsequent series of exams). So that’s another 82M doses to come enough for 46 million Canadians (J&J is single dose). What’s the social and economic cost of switching lives to there? Let me explain, for his entire carrier he has said never take advice from your brother in law. That is why I like positive cash flow and a strong balance sheet. Iâve admittedly been wrestling a bit for what to invest in, inside this account for the coming 2021 contribution year. Can I put 50 k in the RESP when I open it. First games started today and can be Livestreamed on Facebook.+++ If you are reading the blog this evening I would be interested to know if in your experience Ivermectin has been used to head off trouble or complications as we await widespread vaccination. Greater Fool – Authored by Garth Turner – The Troubled Future of Real Estate. No need to think or look trying. I keep forgetting because I’m usually in a rush. I know that I will lose out on the grant but at a modest return 6/7 % I will be way ahead. I’ll take it, and I thank Garth’s blog for this. As long as the money is used for educational purposes, just about anything goes. The coronavirus pandemic does not technically count as a true natural disaster. We all buy GME lol lol. You are also not likely to be physically and mentally more able to work harder when approaching the age that you are starting to eye retirement than you are now. As with all investments, contributing early and consistently will provide the best chance of growing the money. Itâs the gift that keeps on giving. A leader now… with the aggressiveness to forge the way to an economic revival…the kind akin to what you might get from a raging pitbull mad with rabies. A mouse nibbling on cheese isn’t likely going to re-start any economic engine. Restoring business and consumer confidence will be an epic uphill battle and requires the determination of quite a bit more than just moderate aggressive leadership. Many people seem to be on their last good nerve. @102 Don Guillermo on 01.31.21 at 11:20 pm However I saved the Jeep knowing my daughters were coming of age and that there was no way I was going to be willing to insure them on my $70,000 truck. Set up your own business for more tax savings. To avoid these challenges I generally recommend grandparents do not open an RESP for their grandchildren and instead gift the money to the parents and have them establish an RESP as subscribers. But PCR tests are notorious for FALSE positives. #74 stealth on 01.31.21 at 7:08 pm If the citizenry wasn’t such a toolbox, the feds wouldn’t have to be daddy. #21 Loonie Doctor on 10.26.19 at 5:54 pm . It’s easy to be generous with someone else’s money. Made some work commitments to stay occupied during the pandemic, but name and location duly noted. Will show her the post to keep for reference, should she decide to make us grand parents. With an RRSP, the T2 will be back for your taxes. If you get a fire nice and hot, Canadian money will burn. Thanks, and have a great day! @102 Don Guillermo on 01.31.21 at 11:20 pm Both require after-tax money and the TFSA is fully tax-free. It served me well for 20 years and I only parted with it because it was too banged up to fix, but in its final parting it made sure all the passengers walked away.). Hedgefund #2. Looking at switching to Wealthsimple away from RBC as apparently they’re killing us with fees. The question is: Do we really need master carpenters when all is needed is guys/girls who can wield a nail gun I admit assuming that, eventually, a small whisper of reason may worm itself through the ramparts of bureaucratic tar. Not the point, obviously. Come join the party at Kona Tiki. Dah moment. May be after reading she will change her opinion. For almost an entire year now, infected travellers have been entering Canada without adequate screening or monitored quarantine/followup. buick ~= $4/lbs and mercedes ~= $16/lbs). Anyone can open an RESP for a child – parents, guardians, grandparents, relatives or even friends. -2,380,956, worse since all have not received 2 doses. There are many considerations when opening, contributing and withdrawing from an RESP. If we do set-up a family RESP, does that mean we can double the contributions and get double the benefits? First games started today and can be Livestreamed on Facebook. The theory the government uses on both RESP’s and child support is that it all goes into the family budget so they don’t care to see receipts. ….. I’m genuinely curious. Tell that to the bank who will be your new landlord after they foreclose on your current landlord. ___, Heh, that’s the problem with correcting someone else’s grammar or spelling. I know that I will lose out on the grant but at a modest return 6/7 % I will be way ahead. @#16 Faron. I have zero real-life experience with this yet, and will direct you to the fantastic posts by The Loonie Doctor and Financially Free MD for more information. Also, my daughter wanted to take some time off to do some travel, but in order to get the full amount, she had to enrol pretty much right after high school. – Why wasn’t these measures taken a year ago, when they may have had real impact on controlling spread? On the way back, I noticed a wide path that seemed to lead to the road I wanted to be on. If you wanna hire a cheap, unlicensed schmoe …..go for it. The information contained in this blog was obtained from sources believed to be reliable, however, we cannot represent that it is accurate or complete. I heard about a railroad tunnel. I’ll indulge myself in a story I have told before. For five years here I’ve been posting that the 2nd and 3rd World Countries get b0mbed; while First World countries get Economically B0mbed.
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