RESP

How to use ETFs in your child’s RESP

Q. Several years ago, an advisor recommended I hold a Canadian dividend ETF in an RESP for my son. Would this still be a good approach for someone just starting an RESP for their baby, or is there a better alternative, given the increasing number of ETF options? – Pete in Halifax A. In many ways, ...

Millennial homebuyers and seniors among the winners of Budget 2019

The Liberals’ last budget of this mandate sets the stage for the October federal election and includes a sprinkling of money for voters across a wide spectrum. But there are also gaps in spending for some groups. Here’s what the budget does and doesn’t do, for five key voting groups: Veterans ...

Federal budget 2019: Likely some goodies for investors

There’s no budget quite like an election year budget. In 2015, the last election budget, then Prime Minister Stephen Harper tried to win over the common Canadian by introducing a host of budget day goodies. He boosted the tax-free savings account’s contribution limit from $5,000 to $10,000 (wh ...

What is an RESP?

Designed by Kstudio / Freepik With the sleepless nights that come with a newborn it can be hard to plan even one week in the future, let alone grappling with how to save up enough money for when that little bundle of joy heads off to college or university in 18 years. Fortunately Canadian parents ...

She’s 34 and wants to retire at 65 with $70,000 a year. Can she?

Q. I need some advice on saving for retirement. I’m 34 years old and hope to retire at age 65 with a gross annual income of $70,000. I currently earn $110,000 a year from my job at a law firm. I recently ran a quick, non-scientific calculation, and assuming I die at age 100 (I presume here that ...

How should a new Canadian invest his extra cash?

Q. I am a new Canadian (27 years old) and started working in Canada about 1.5 years ago. It took me a while to figure out how things work in this country and a few months ago, after ditching a financial advisor who was also a family friend, I started investing on my own. Currently, I have a TFSA ...

Financial Fitness Part 3. Staying healthy in your mid-30s, 40s, and 50s

In this edition of Financial Fitness, WealthBar speaks to up-and-comers who are in the prime of their earning years. Throughout your mid-30s to early-50s, it’s time to bulk up your bank account. You need to prepare for career zig-zags, take care of your family, and finally, get ready to enjoy yo ...

The pros and cons of Vanguard’s new sustainability ETFs

Imagine my great joy when I saw the announcement that Vanguard had launched two new ESG index ETFs. For those who don’t know, ESG—Environmental, Social and Governance—refers to the three central factors in measuring the sustainability and ethical impact of an investment in a company or busine ...

RESPs and Canadian non-residency

Q: We are moving overseas to New Zealand. I’m wondering what the implications are for our son’s RESP if we become non-residents? Can we continue to contribute? Will we lose what benefits are already in the account? —Cara A: A subscriber is the person who opens and manages a Registered Educat ...

Leaving an inheritance for your grandchildren

Q: My mother has just sold her home and is wanting to open an account for her grandchildren for the purpose of purchasing a home or higher education. My sons are 14 and 11 (her grandchildren). What would the best investment account be for her to put the money in and leave it until the boys are of ...