Hanna Herald

banner
Hanna Herald
hannaherald
hannaherald@www.hannaherald.com
0 Follower
|
44 Views
Share

Founded in 1912 the Hanna Herald is published every Wednesday rain or shine featuring local businesses, people and news.

Contact Info
hannaherald@www.hannaherald.com
+1 403-854-3366
Hanna Herald hasn't answered any questions yet. Follow them to see their activity in your feed!
92 Posts
B.C. couple's plan to cash in real estate riches to fund early tropical retirement 'awfully risky'
A few years ago, they made a big bet on property, improving their home to make it a showplace. The cost, if their move is permanent, will be curtailment of OAS benefits - one needs 40 years after age 18 for the maximum, and cessation of accumulation of CPP benefits, though what has accumulated in both plans will still be payable subject to withholding. Added to their RRSPs, from which they could conservatively withdraw $7,500 per year, they would have total pre-tax income of $69,690 per year. After splits of... more
B.C. couple's plan to cash in real estate riches to fund early tropical retirement 'awfully risky'
Canadians depending more on home equity lines of credit even as interest rates rise
A HELOC is a line of credit secured to your house. It's like a second mortgage that, once in place, costs you nothing if you don’t use it. A homeowner can borrow up to 80 per cent of their property’s value. Every $100,000 of HELOC debt owing results in an additional $500 of interest charged per year when interest rates increase. If interest rates rise by a further one to 1.5 percentage points this year this year. The result of this year, the result will be an annual increase. For Canadian households will... more
Canadians depending more on home equity lines of credit even as interest rates rise
How the CRA divvies up the Canada Child Benefit for parents who share custody
Parents who are separated or divorced and share custody of their kids should be aware that the amount of time the kids spend with each parent can be the determinative factor into how much, if any, of the Canada Child Benefit they may receive. For parents who are separated or divorced the rules that determine whether each parent can collect CCB payments depend on whether the parents have shared custody. New legislation introduced in 2021, but retroactive to 2011, expanded the definition of a shared-custody parent... more
How the CRA divvies up the Canada Child Benefit for parents who share custody
If you think child support doesn't apply to stepchildren, think again
Peter Bergen says the judge had to decide if the husband had stood in the place of a parent since, under the Federal Child Support Guidelines. He says the husband denied that he had any closeness or relationship with the children. Bergen and Bergen said the case was a case that should have been decided by a judge. The husband and his wife were in a long-term relationship, but the husband did not have an obligation. The husband was ordered to pay $135,000. The judge ordered the husband to pay the child support.... more
If you think child support doesn't apply to stepchildren, think again
How to navigate the financial strain of a divorce
... more
How to navigate the financial strain of a divorce
Here's how to accelerate your retirement timeline, without taking on too much risk

According to Statistics Canada, the average retirement age for Canadians in 2021 was 64.4 years old. Retirement has been delayed by almost three years since 2001, when the average was just 61.5 years of age. For some, those extra few years of work can seem like an eternity.

There are, however, strategies that those who are approaching retirement can consider to shave time off their financial independence date so they can afford to retire earlier.

For this exercise, we will

... more
Here's how to accelerate your retirement timeline, without taking on too much risk
Billionaire Michael Lee-Chin shares his secrets on wealth creation and where he’s investing next

In October 1998, the stock market was crashing, but the portfolio managers at Burlington, Ont.-based AIC Ltd. were on the road as planned, travelling across Canada to convince clients that the funds they offered remained good investments, even though some of them had lost half their value.

In the car, the managers clung to their briefcases, looking glum. It had been a remarkable run. They had ridden the wave of the booming wealth management industry so well that they had increased the value

... more
Billionaire Michael Lee-Chin shares his secrets on wealth creation and where he’s investing next
This Ontario woman wants to buy back into the housing market for retirement, but is renting the better way to go?

A woman we’ll call Margaret, 60, works in Ontario in high-tech manufacturing. She earns $169,716 per year and takes home $9,713 per month after tax. She wants to retire no later than age 65 if she can attain sufficient income and financial security.

Margaret sold her three-bedroom condo last year and got $310,000 net as a way of downsizing. She currently rents. She would like to get back to ownership with an 800-square-foot condo that, she figures, will cost her $750,000. But that purchase

... more
This Ontario woman wants to buy back into the housing market for retirement, but is renting the better way to go?
FP Answers: How should I invest the $260,000 my father left me in his will?

By Julie Cazzin with Brenda Hiscock

Q: I’m 52 years old, married and have a 12-year-old daughter. Our gross household income is $130,000, and I have a $220,000 mortgage at about four per cent. We have not contributed to our registered retirement savings plans (RRSPs) in 15 years and have not started tax-free savings accounts (TFSAs). We only have savings of about $40,000 for emergencies and it’s sitting in a bank savings account in cash, as well as a registered

... more
FP Answers: How should I invest the $260,000 my father left me in his will?
CRA rules on whether two workplace perks are taxable employee benefits or not

Employees are taxable on their salaries, bonuses and any other type of direct compensation they may receive, but they could also end up paying tax on various non-cash employment benefits or perquisites.

Under the Income Tax Act, employees must include in their income the value of any benefits of any kind received by the employee “in respect of, in the course of, or by virtue of his or her employment.” In determining whether an employee must include the value of a benefit

... more
CRA rules on whether two workplace perks are taxable employee benefits or not
Thinking of having kids? Get ready for some sticker shock when calculating the cost
... more
Thinking of having kids? Get ready for some sticker shock when calculating the cost
This couple wants to retire early in their home country. Can they take their Canadian benefits with them?

A couple we’ll call Peter, 41, and Charlotte, 39, live in Ontario with their two-year-old child, Morgan. They bring home $11,200 per month from their jobs, his in corporate development, hers in strategic planning. They have a $2.3 million house, $50,000 in raw land, $65,000 in RRSPs, $20,000 in TFSAs, $25,000 in taxable securities, $37,500 in gold and a $12,000 car. It adds up to $2,509,500. Take off their $820,000 home mortgage and their net worth is about $1.7 million — a very respectable sum.

... more
This couple wants to retire early in their home country. Can they take their Canadian benefits with them?
FP Answers: How do I get good financial advice so I don’t waste my money?

By Julie Cazzin with Allan Norman

Q: I paid a fee-based planner for some financial advice, but they didn’t tell me anything I didn’t already know. I feel like it was a waste of money. Am I missing something? — Caitlin in Penticton, B.C.

FP Answers: Caitlin, hopefully you said something to your planner — for both your sakes. Your question got me thinking. In future, what is the one thing you can do to feel like

... more
FP Answers: How do I get good financial advice so I don’t waste my money?
Cash may be king, but it can cause headaches if the taxman denies your claims

It’s often said that cash is king, but it may not always be the best method of payment when it comes to dealing with the taxman, who may ask you some tough questions to justify tax-deductible expenses or, on the flip side, demonstrate you earned a minimum amount of qualifying income to take advantage of various benefits or credits.

For example, there’s been a slew of recent cases dealing with taxpayers’ eligibility for COVID-19-related benefits, such as the Canada Emergency

... more
Cash may be king, but it can cause headaches if the taxman denies your claims
How to afford a vacation when money is tight and costs are rising
Taking small steps can add up to help you take a big step away from your day-to-day routine
How to afford a vacation when money is tight and costs are rising
This Ontario couple needs to ditch the real estate and boost cash flow to retire at 55
Retirement is going to take substantial reorganizing of assets, expert says
This Ontario couple needs to ditch the real estate and boost cash flow to retire at 55
FP Answers: What is a 'letter of wishes' and how does it help achieve my estate planning goals?
A letter of wishes is one way to deal with the lack of certainty regarding posthumous intent
FP Answers: What is a 'letter of wishes' and how does it help achieve my estate planning goals?
The case of the taxpayer who was dinged with a taxable benefit for taking a business trip
Jamie Golombek: A judge concluded no portion of the trip's cost should have been a taxable benefit
The case of the taxpayer who was dinged with a taxable benefit for taking a business trip
Three keys in developing the confidence to handle your personal finance needs
It can be difficult to know where to begin when taking on newfound financial responsibility, either by choice or consequence
Three keys in developing the confidence to handle your personal finance needs
Can this Alberta couple's six rental condos support their big travel plans in retirement?
Frank and Kerry have hung their retirements on delicate threads, expert says
Can this Alberta couple's six rental condos support their big travel plans in retirement?
If you thought the CRA wouldn't follow up on improperly claimed CERB and other benefits, think again
Jamie Golombek: Tax authority sending out 'notices of redetermination' as COVID-benefit-related disputes hit the courts
If you thought the CRA wouldn't follow up on improperly claimed CERB and other benefits, think again
Canadians are clinging to cash as a savings strategy during the pandemic: RBC
'Canadians appear to be driven by a desire to stash, not spend cash'
Canadians are clinging to cash as a savings strategy during the pandemic: RBC
Fly snowbird fly, but there are some things to know before you settle
Looking to invest in a vacation home outside Canada? Before planting roots abroad, experts advise doing some extra exploration
Fly snowbird fly, but there are some things to know before you settle
Studying the market pays off for savvy couple with 12% gains and 'bulletproof retirement strategy'
But there are risks in the optimistic projections
Studying the market pays off for savvy couple with 12% gains and 'bulletproof retirement strategy'
FP Answers: Am I on track to retire in 25 years if I have $350,000 saved now?
Expert says current trajectory exceeds Ava's retirement goals
FP Answers: Am I on track to retire in 25 years if I have $350,000 saved now?
These are the tax-sheltered savings options first-time homebuyers need to know about
Jamie Golombek: RRSP Home Buyers' Plan is so arcane, even the CRA can have trouble explaining it
These are the tax-sheltered savings options first-time homebuyers need to know about
Family law faces double-dipping dilemma when it comes to stock options, other deferred compensation
Laurie H. Pawlitza: Courts have drawn a distinction between whether the 'double dip' is for the purposes of paying child support or spousal support
Family law faces double-dipping dilemma when it comes to stock options, other deferred compensation
Jason Heath: There's an upside to higher interest rates, despite the pain to borrowers
One eventual benefit is that borrowers will have a more realistic monthly payment for their debts
Jason Heath: There's an upside to higher interest rates, despite the pain to borrowers
Couple in their 40s with $3 million in assets must diversify if they want early retirement
Because of bad experiences in stocks, they have put most of their savings into property
Couple in their 40s with $3 million in assets must diversify if they want early retirement
FP Answers: Am I paying too much in portfolio management fees?
Margarite pays $30,000 in fees for the management of her $2.5-million portfolio. Is that too much? If so, how can she lower those fees?
FP Answers: Am I paying too much in portfolio management fees?
Hanna Herald hasn't asked any questions yet. Follow them to see their activity in your feed!
Nobody has given a recommendation to this agent. Be the first to recommend them!
This agent hasn't recommended anybody yet.
+ Reivew
Nobody has written a review for this agent. Be the first to review them!
You have no bookmarks yet. You can bookmark contents on Ratesfeed to find them easier!
Hanna Herald hasn't reshared any content yet. Follow them to see their activity in your feed!