RRSP

What are tontines and why their time has come for financial planning

Author Moshe Milevsky makes his case to bring back a financial instrument from the past. SPEED READER Book: King William’s Tontine: Why the Retirement Annuity of the Future Should Resemble its Past Author: Moshe A. Milvesky Publisher: Cambridge University Press Price: $56.43 for 257 pages WHO I ...

When you break up a year after buying a condo together

Q: My son and his common-law partner bought a condo together in Vancouver last year—which has since gone up in value. The relationship did not last and she would like to buy him out as both their names are on title. Are you aware of the steps involved to legally proceed with a real estate buy o ...

8 ways to start the home-buying process

Real estate isn’t just a place to live anymore, it’s now an integral part of your financial plan. But that doesn’t mean you should get in at all cost. To make it work, you need to consider the purchase of a home as part of your overall financial plan. To help you stay on track, here are ...

How to write a will that’s actually fair

(Illustration by Sam Island) Presented by Assante Wealth Management Dividing assets fairly among loved ones may seem simple in theory but in practice, the attempt to introduce equality in wills and inheritances is fraught with cross currents that can tear families apart. In his book The Wills Law ...

How, when and why to save using RESPs

Presented by Assante Wealth Management Never say no to offers of free money from the government. That’s my motto, or at least one of them. And as far as free money goes, Ottawa’s Registered Education Savings Plan (RESP) is among the most lucrative offers currently available to Canadians with k ...

Owning Canadian stocks as a U.S. resident

Q: I live in the USA but still have some stocks in a Canada brokerage. If I should sell them what is the capital gains I pay since I have had no income in Canada for the past 30 years? Except of course the dividend which has been about $200 a quarter. I’ve had the SU stocks since 1998 – about ...

How Canadian homes became debt traps

(John Lund/Getty Images) In 1998, Ann bought a one-bedroom condo in the Kitsilano area of Vancouver. Gainfully employed at a printing company, she found the monthly mortgage payments were within her budget (Ann and others quoted in this story asked that Maclean’s not use their full names). Th ...

The best way to help your child buy a home

Q: I am in the process of helping my daughter buy a condo, here is what we have done so far: We signed the mortgage with her as primary and me as co-signer,  I will be giving her the down payment and she is going to be living there and she will be the one paying the mortgage and all expenses. My ...

Should couples hold duplicate investments?

As a couple, it’s great to have twins as kids. But you don’t always want your portfolios looking the same. (Flickr) Q. My wife and I have several duplicate holdings in our respective accounts: for example, we both hold some of the same stocks and ETFs directly, and our mutual funds may also in ...

Why you should sign up for your employee stock plan. Now

M A K I N G   B A N K How gleeful you’ll be once you see all that free money (Shutterstock) Say you’re shopping and when you’re at the counter the cashier says, “Thanks for paying $150 for those shoes. Would you like to take with you an extra $40 as a thank-you for buying them?” Would ...