Best Of
Re: Stock Market
I needed one 5/4x6x8 cedar for the treehouse - $20! I am glad I built it in the fall. I told my little guy that he better save up for insurance as I cannot afford to rebuild now!!
YYZRC
1 ·
Re: Stock Market
@halifax212 it is an odd way how they cold call, isn't it? One of the things I hated the most about the job, but some of my best clients came out of it. Don't do it on my account but by all means ask all the tough questions. After 3 years you probably have a feel for the broker and their style. No investment or broker is fool proof but my experience both during my time with the company and after has been good. Full disclosure, it was my brother who got me into the company and who now also looks after my stuff, but to be fair, brother or not he doesn't give me any preferential treatment. If he knew I had a small stake in Bitcoin that I'm playing with he'd give me a stern talking to for sure!
Willhound
2 ·
Re: Transom assemblies and engine room makeover
My hats is off to your Analnis Chris 😁
Handymans342
2 ·
Re: Pic Of The Day
"We're 106 miles to the mountain, we have a full tank of gas, half a pack of cigarettes, it's cold and we're wearing helmets."DanD2 said:Me and my boy....
"Hit it."
TonyG13
2 ·
Re: Joke of the Day
I'm Finn. I don't think there's much named after us, although my friends point out it's the closest thing to a fish's a$$!
Willhound
3 ·
Re: Stock Market
Certainly will take you up on that @Dream_Inn if I'm ever able. Your comment jumped out at me as a good starting point for my post as a practical example. Also happy for your daughter. I wish I had someone that lead me that way in my younger years. I'd be comfortably retired now. Most of my spare cash up until my 40's was invested in Molson's Brewery, and not in the stock. 
. Although I once had a high yield bond from Molson Coors that did me well before it hit maturity date, and then that money added to my JNJ.
In Canada we have similar investment tax shelters as a ROTH and a 401K.
Our ROTH is a TFSA (Tax Free Savings Account) with investing after tax dollars but no tax on returns or withdrawal. Our 401K is an RRSP (Registered Retirement Savings Plan) with the investment coming off the top of your taxable income but taxed on withdrawal. So many people think it's a "rip off by the government" but what they don't realize is that having the tax advantage in your high earnings years easily offsets the tax paid in retirement when your income is supposedly less. And if it isn't, then good for you, pay the tax! (I'd describe myself as a bit of a "free market small S socialist") Where people get whacked on an RRSP is when they get silly and withdraw for things like boats and other toys and get taxed at max.
When you hit age 71 your RRSP must be converted to a RRIF (Registered Retirement Income Fund) that has a prescribed schedule of increasing withdrawals designed so that all of your funds are withdrawn by around age 95, and of course the government gets their tax dollars. Or it can be converted to an Annuity. Any extra cash can then be invested into the TFSA so can continue to grow. Can also be transferred "in-kind" if yo have a good investment you want to keep. Tax is paid at the applicable rate depending on if Capital Gains, Dividends or Interest. This is where a good tax accountant can be worth the $$$.
OK, I gotta stop now, starting to slide back into my old career.....
. Although I once had a high yield bond from Molson Coors that did me well before it hit maturity date, and then that money added to my JNJ.In Canada we have similar investment tax shelters as a ROTH and a 401K.
Our ROTH is a TFSA (Tax Free Savings Account) with investing after tax dollars but no tax on returns or withdrawal. Our 401K is an RRSP (Registered Retirement Savings Plan) with the investment coming off the top of your taxable income but taxed on withdrawal. So many people think it's a "rip off by the government" but what they don't realize is that having the tax advantage in your high earnings years easily offsets the tax paid in retirement when your income is supposedly less. And if it isn't, then good for you, pay the tax! (I'd describe myself as a bit of a "free market small S socialist") Where people get whacked on an RRSP is when they get silly and withdraw for things like boats and other toys and get taxed at max.
When you hit age 71 your RRSP must be converted to a RRIF (Registered Retirement Income Fund) that has a prescribed schedule of increasing withdrawals designed so that all of your funds are withdrawn by around age 95, and of course the government gets their tax dollars. Or it can be converted to an Annuity. Any extra cash can then be invested into the TFSA so can continue to grow. Can also be transferred "in-kind" if yo have a good investment you want to keep. Tax is paid at the applicable rate depending on if Capital Gains, Dividends or Interest. This is where a good tax accountant can be worth the $$$.
OK, I gotta stop now, starting to slide back into my old career.....
Willhound
2 ·
Re: Off topic: Rinker owners who grill!
Wife has a cat. More like the cat has us. I like to tease my wife so as I was happily trying out the sealer on different items I innocently asked her where the cat was. She must want to go fishing because she called me a "Basshole". 😋
Willhound
1 ·
Re: Wire connectors kit.... Pause for a moment
I just keep a standing order from Russia for that exact reason 😊
Aqua_Aura
2 ·