Guiding you along your financial journey
Question. Like most everyone else I assume, I get emails from time to time with some scam or another. Some are easy to spot, but others really appear legitimate, and I came close to falling for a few recently. With so much personal info online, I’m increasingly nervous that I’ll eventually fall victim to an online scam or fraud. I’m […]
Question. I’ve been fairly diligent about saving, and have contributed to my RRSP every year. I’m not ready to retire just yet, but I do plan to retire within the next few years. I guess after all these years of saving, I hadn’t really thought much about it, but now I’m wondering, what happens to my RRSP after I retire? […]
Question. My investments are currently at one of the banks. I have been reviewing my portfolio and how it has performed over the last few years, and I am unhappy with the performance. I have done my homework and my due diligence, and I have decided that I am ready to transfer my investments over to ModernAdvisor and become a […]
Question. I have an RESP with another company. We signed up and opened the account when my daughter was born. Last week, I contacted the company to initiate a transfer, and I was told that I would be charged over $4,000 in fees! I feel like I’ve been totally misled and I’m furious. Why is this happening? Are all RESPs […]
Question. I’ve heard that the CPP is changing. Is it? To be honest, I don’t really understand the CPP, or the change. But I hear some people saying it’s good, and others saying it’s bad. Can you tell me more about the changes and how they might affect me? Answer. Yes, as of January 2019, the Canada Pension Plan (CPP) […]
Question: Using a software package, I file my own taxes each year without the help of an accountant or other tax professional. I’m wondering if you have any advice for me, and if you can give me any tips? I’d like to make sure I’m being smart about taxes and taking advantage of any year end tax-saving strategies available to […]
Question. Hi, I’ve heard that the TFSA limit has been increased. Does this mean I can put in $6,000 this year? And is the deadline the same as the RRSP deadline? Do you have any advice or suggestions to help me better understand how this works? Answer. You are correct – the Tax Free Savings Account (TFSA) limit for 2019 […]
Question. Hi, I have an RRSP and a TFSA, and have been working with the same financial advisor for about 10 years. To be honest, I don’t really feel like he’s doing much for me, so I’m wondering what my options are. I’m interested in ModernAdvisor, and your low-cost portfolios look great, but I also value a dedicated advisory relationship. […]
