Posts by Jason Heath

The article “How To Gift An RESP To A Child” was originally published on MoneySense on January 12, 2016. Opening an education savings account for a grandkid, niece or nephew is possible – just make sure you do it right Q: Can an aunt, uncle or grandparent open an RESP or RRSP for a grandchild, niece, nephew or…

The article “Are RRSPs Ever a Waste of Time?” was originally published on MoneySense on January 5, 2016. Not everyone needs to max out their RRSPs at all costs Q: I am a 38 year old school teacher and currently contributing to a bank RRSP. I will have a pension and am being told I am wasting…

The article “Is a Rental Property a Good Investment?” was originally published on MoneySense on December 29, 2015. Harmony isn’t sure if renting out her condo is worth the cost in the long term Q:  I own a condo in my hometown of Duncan, BC, but my partner and I have just bought a house across town…

The article “Set Up Your Portfolio for Success in 2016” was originally published on MoneySense on December 22, 2015. How to prepare for the year ahead after one of the worst market showings in recent memory Q: With the minus performance of the stock market, what is your recommendation as we go into 2016 regarding the…

The article “Planning A Canadian Retirement On A U.S. Income” was originally published on MoneySense on December 15, 2015. What is the best way for Amy to convert her U.S. salary into Canadian dollars as she approaches retirement? Q: I have been working in the U.S. for almost two years now. Over the course of the last two…

The article “Calculating Capital Gains on U.S. Stocks” was originally published on MoneySense on December 8, 2015. Selling U.S. equities? Keep the exchange rate in mind. Q: I hold stocks in two non-registered accounts. One is holding Canadian equities and the other is holding U.S. stocks.  When I sell a U.S. stock, the cash remains in the U.S.…

The article “How to Invest Conservatively Without Bank GICs” was originally published on MoneySense on December 1, 2015. Jack has more than $100K to invest but his bank GICs aren’t cutting it Q: We are maxed out on our RRSPs and TFSAs and our remaining funds are in joint GICs (Guaranteed Investment Certificates). Due to…

The article “Money In Too Many Places” was originally published on MoneySense on November 24, 2015. In most cases, an overly complicated portfolio will work against you and your future heirs. Here’s why and how to fix it. Q: My finances are a mess! I have: -RRSPs with 2 different investment companies; -Non-registered accounts with 2…

The article “How To Gift Money To Your Children” was originally published on MoneySense on November 17, 2015. Carmen is considering an RRIF withdrawal to transfer money to her children. But is there a better way? Q: I would like to give some money to my children while I’m still alive. If I take it out of my RRIF, is there…

The article “Paying Capital Gains Tax On An Ex’s Property” was originally published on MoneySense on November 10, 2015. Do the taxes kick in when Mary moved out in 1994 or when her spouse died in 2013? Q: I am in a unique situation. I separated from my husband in late 1994. We never divorced and…