Posts by Jason Heath
How To Start Investing Late In Life
The article “How To Start Investing Late In Life” was originally published on MoneySense on February 11, 2018. It’s never too late to start playing catch-up Q: I am a late bloomer. I finally have an empty nest, but I had low income employment and always lived with my nose 1 inch under the water. I…
Read MoreFinancial Planning And Mental Illness
The article “Financial Planning And Mental Illness” was originally published on MoneySense on February 7, 2018. Advice for a reader who’s been unable to save due to her chronic mental illness Q: I am 43 with no children or spouse. I have a mental illness that is chronic and has prevented me from working and saving…
Read MoreTake Back Control Of Your RRSP With These Three Easy Steps
The article “Take Back Control Of Your RRSP With These Three Easy Steps” was originally published on Financial Post on January 31, 2018. Make sure you know what you own, what you pay and what your returns are in order to work toward your retirement goals If you’re like most Canadians, you probably don’t have…
Read MoreBecome A Millionaire By Investing The Wage Hike?
The article “Become A Millionaire By Investing The Wage Hike?” was originally published on MoneySense on January 23, 2018. It’s hard to invest money when you’re making minimum wage. But you can make the boost add up. Ontario Premier Kathleen Wynne increased the minimum wage from $11.60 per hour to $14.00 per hour on January…
Read MorePension Income Splitting Explained
The article “Pension Income Splitting Explained” was originally published on MoneySense on January 16, 2018. The kind of pension that qualifies, when it makes sense to defer and the tax consequences to watch out for Q: I am 62 years old and I receive a pension from my work. At the same time, I am still…
Read MoreWhat Happens To Your Spouse’s TFSA If They Die
The article “What Happens To Your Spouse’s TFSA If They Die” was originally published on MoneySense on January 9, 2018. It depends on whether you’re their beneficiary, a successor holder or neither —Updated Jan. 16, 2018 to clarify TFSA rules for those who live in Quebec— Q: My brother recently died and my sister-in-law is his…
Read MoreHere’s What To Do When You Take Over A Parent’s Finances
The article “Here’s What To Do When You Take Over A Parent’s Finances” was originally published on Financial Post on January 2, 2018. Here are some of the key areas to address in anticipation of or in response to taking over a parent’s finances. According to the 2016 census from Statistics Canada, 17 per cent…
Read MoreThe Best Way To Transfer RESP Money To An RRSP
The article “The Best Way To Transfer RESP Money To An RRSP” was originally published on MoneySense on January 2, 2018. Transferring in-kind versus cashing out, plus keep in mind penalties due Q: When transferring my unused RESP accumulated income into my RRSP, am I able to do it as is, i.e. bank stocks, or do…
Read MoreWhen To Load Up On Defensive Stocks
The article “When To Load Up On Defensive Stocks” was originally published on MoneySense on December 28, 2017. Timing the market is difficult; instead, focus on your own asset allocation and risk tolerance Q: Is it reasonable or practical to shift to defensive stocks and mutual funds to prepare for a market recession? Financial people all…
Read MoreDo I Need To Retire My Debt, Before I Retire Myself?
The article “Do I Need To Retire My Debt, Before I Retire Myself?” was originally published in MoneySense on December 21, 2017. It might make more sense to pay off debt later Q: So, I’m retiring (single male 65) with $850,000 total in RRSPs and a DCP where I currently work. I have no debt. I…
Read MoreHow Can I Use My Extra RRSP Room When I Retire?
The article “How Can I Use My Extra RRSP Room When I Retire?” was originally published in MoneySense on December 13, 2017. You can’t use up next year’s room this year, but there are ways to put that room to work Q: In 2019, I will retire. I will contribute $26,000 to my RRSP in 2018,…
Read MoreHere Are The Six Biggest Mistakes Retirees Make With Their Investments
The article “Here Are The Six Biggest Mistakes Retirees Make With Their Investments” was originally published on Financial Post on December 7, 2017. Jason Heath: There are lots of mistakes that investors make, but there are six common ones I observe specifically with retirees The financial industry and media focus a lot on investing. People…
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