Posts by Jason Heath
How To Figure Out Your Investment Fees
The article “How to figure out your investment fees” was originally published in MoneySense on September 28, 2021. Photo by Andrea Piacquadio from Pexels. John is unclear about what he’s paying his advisor, and cannot seem to get a straight answer. Q. I was wondering why there is no accounting in my statements for the money…
Read MoreFinancial Gifts: What You Need To Know Before Giving Money Or Investments
The article “Financial gifts: What you need to know before giving money or investments” was originally published in MoneySense on September 21, 2021. Photo by Marcus Aurelius from Pexels. We humans are wired for generosity: we feel joy and satisfaction when we give to others. What may not be as natural is to consider the potential…
Read MoreWhat To Expect (Financially) When You’re Expecting
The article “What to expect (financially) when you’re expecting” was originally published in Financial Post on September 20, 2021. Photo by Kristina Paukshtite from Pexels. New parents have a lot to learn and these financial considerations can help families feel a bit more prepared. I am a father of three from a family of three…
Read MoreHow To Avoid OAS Clawback When You’ve Had A Temporary Increase In Income
The article “How to avoid OAS clawback when you’ve had a temporary increase in income.” was originally published in MoneySense on September 14, 2021. A one-time bump in Sam’s income triggered an Old Age Security benefit clawback, and he wants to know if there is a remedy. Q. I liquidated a large mutual fund in 2020…
Read MoreIncorporated Business Owners: Should You Pay Yourself A Salary?
The article “Incorporated business owners: Should you pay yourself a salary?” was originally published in MoneySense on September 8, 2021. Photo by fauxels from Pexels. If you own an incorporated business, you can pay yourself a salary—but sometimes it’s the wrong choice. When it comes to their own compensation, a business owner with a corporation…
Read MoreHow To Minimize Tax And Maximize Impact When Passing Your Savings To The Next Generation
The article “How to minimize tax and maximize impact when passing your savings to the next generation” was originally published in Financial Post on August 30, 2021. Photo by N Voitkevich from Pexels. Jason Heath: If you have more money than you’ll need in retirement, consider putting these strategies to use A point may come…
Read MoreTransferring Employer Pensions To LIRAs, LIFs and RRSPs
The article “Transferring employer pensions to LIRAs, LIFs and RRSPs?” was originally published in MoneySense on August 30, 2021. Photo by Pavel Danilyuk from Pexels. Q. I have a new LIRA valued at $102,500 from leaving an old employer. Can I transfer this money to a LIF, then to an RRSP? –Andrew A. With the Great Resignation looming, many…
Read MoreHome Buyers: How Large Should Your Down Payment Be?
The article “Home buyers: How large should your down payment be?” was originally published in MoneySense on August 23, 2021. Photo by SHVETS production from Pexels. Is it best to maximize your down payment on a house or condo purchase, or keep some money to invest? When you buy a house or a condo, there…
Read MoreHow Much Should You Withdraw From Your RRIF?
The article “How much should you withdraw from your RRIF?” was originally published in MoneySense on August 16, 2021. Sandy wants to deplete a registered retirement income fund by age 90 and wonders how much to take out each year. Q. I am 78 and have $330,000 in my RRIF account. How much should I withdraw…
Read MoreAre Interest Payments Tax Deductible?
The article “Are interest payments tax deductible?” was originally published in MoneySense on August 9, 2021. Interest paid may be tax deductible under the right circumstances. Find out which scenario might apply to you. Taxpayers may be eligible to claim a tax deduction for interest paid on a loan or mortgage. According to Canada Revenue…
Read MoreCan You Change Your Mind About Taking CPP Early?
The article “Can you change your mind about taking CPP early?” was originally published in MoneySense on August 3, 2021. Photo by Anna Shvets from Pexels. Rena started receiving Canada Pension Plan benefits at age 60 and wants to know if she can now defer the pension, or if other options are available. Q. I am…
Read MoreDivorce Over 50: Managing Your Finances If You Find Yourself Single In The Run-up To Retirement
The article “Divorce over 50: managing your finances if you find yourself single in the run-up to retirement” was originally published in MoneySense on July 28, 2021. Photo by Pavel Danilyuk from Pexels. “Grey divorce” is on the rise—and it can have significant financial impacts, from daily cash flow to tax planning and retirement savings.…
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