stopping payment of the QPP at 65 saves me about 4000.00 per year that i put into investments as well as collecting the qpp. My wife is retired so after income splitting I only pay tax on half the money.
@cynthiacoc64002 ай бұрын
Best explanation on youtube for QPP Thank you Mr Guay
@rudydjangirov75454 ай бұрын
You're great Peter, appreciate your explanation
@MadOldMan-ck5wq6 ай бұрын
We want the NICER 837PC SOP arbiter validation triple title security Goldberg Whoopi Bird Grantor Trust Crime interdiction administration to avoid this mess.
@MadOldMan-ck5wq6 ай бұрын
Is he telling us to give our kids our tax problem?
@psigo0487 ай бұрын
Hi Peter, when the fam. Trust distributes the common shares to the beneficiaries (in this case, the children) upon death of the surviving spouse, are those children eligible for the LTCG exemption? Thx.
@Grow_Your_Food9 ай бұрын
Do all securities (Canadian, US, international) grow tax free in an RESP, or only Canadian securities? I'd like to buy index funds in there but I'm concerned about taxes.
@PeterGuay9 ай бұрын
All securities grow tax free inside an RESP. I’m a big fan of asset allocation index ETFs inside RESP accounts. Vanguard, iShares and BMO all have good ones to choose from.
@Grow_Your_Food9 ай бұрын
@@PeterGuay I wasn't expecting a reply! Thank you so much!
@mariazzimelki Жыл бұрын
Is the private foundation trust the same ?
@venshinetesla6079 Жыл бұрын
Good video but super basic. Would love more, maybe a series on Americans in Canada. I am honestly considering just giving up US citizenship not worth it.
@sukhjitkaur5423 Жыл бұрын
U are saying that during work year we have to pay 25 percent of our income per year to government
@PeterGuay10 ай бұрын
No
@kellenswain2049 Жыл бұрын
You are more financially literate than I. But something doesn’t add up to me. Renting leaves you exposed to changing market conditions. Rent can go up. My mortgage stays the same, and is actually a great way, in my mind, to insulate from inflation. Additionally, paying interest reduces your taxable income. Which is huge value to me, since my biggest expense is tax. And finally, I can rent out a room in my home. Mitigating the cost of capital. So idk, it doesn’t seem that simple to me
@PeterGuay Жыл бұрын
Fair enough, but us Canucks can’t deduct our mortgage interest, and we can’t lock in a mortgage rate for 30 years either. Both huge advantages in the US vs Canada. I agree that rent can vary with market conditions, but so do mortgage costs in Canada, as well as the value of the property you own.
@NZelalem962 жыл бұрын
Awesome video:) ! You explained it so much better than my tax professor !
@rhythmandacoustics2 жыл бұрын
2:08 Not really, retail investors actually sell out during a downturn rather than holding and waiting for recovery, same with institutional investors because their clients will not be happy. Bad example.
@russellmitchell2 жыл бұрын
Great discussion
@joeyj72712 жыл бұрын
ya..who lives till 70+ years these days?
@nadiaedison13462 жыл бұрын
Hi Peter, If the person starts working in Canada at the age of 40. so what is the best time to retire?
@dodotori72342 жыл бұрын
Really insightful video! If I understood correctly, the last surviving spouse will be the one that will have to pay the 2million$ liability that was locked in(from our example) in the year of his or her death?
@PeterGuay2 жыл бұрын
That’s right. Glad it was helpful!
@russellmitchell2 жыл бұрын
Thanks for the info Peter.
@subramanyamgarapati95772 жыл бұрын
Hello sir my question is ,"parents normal death like Heart attack are accident "what life insurance i will take sir please tell me sir???
@dmitryd54522 жыл бұрын
Did Barb sell her company's stock (and hence realized large cap gains) to loan the money to the trust or is there some way to loan Barb's shares without realizing the gains?
@PeterGuay2 жыл бұрын
Not sure if you can loan the stock to the trust…will have to look that one up. In the case study, Barb sold her stock before lending the proceeds to the trust.
@dmitryd54522 жыл бұрын
Thank you for this succinct summary of family trusts.
@russellmitchell2 жыл бұрын
Good video Peter.
@PeterGuay2 жыл бұрын
Thanks Russell!
@denverconeybeare91872 жыл бұрын
I missed your videos! So glad you're back.
@CarlosPacheco2 жыл бұрын
Welcome back Angelica
@QualitativeInvestor2 жыл бұрын
3:00 How many "Best" years they will take as sample for "Best Contribution Years"?
@PeterGuay2 жыл бұрын
If you take the CPP/QPP at age 60, they consider 35.7 of your best contribution years (60 minus 18 times 85%). If you take it at 70, they consider 44.2 of your best contribution years. The later you retire, the more high contribution years you need to maximize the benefit. But as I said in the video, by waiting an extra year without contributing, the bonus for waiting more than offsets the extra year that you don’t contribute.
@PeterGuay2 жыл бұрын
Great question!
@QualitativeInvestor2 жыл бұрын
@@PeterGuay Thank you Peter for detailed explanation.
@James_482 жыл бұрын
@@PeterGuay is it correct, that if you stop working at 60 (or any year before age 70) the years between age 65 and 70 are excluded (and therefore don’t count as “zero earnings” years)?
@QualitativeInvestor2 жыл бұрын
Thank you for coming back. Please do more videos like this.
@Anglaide3 жыл бұрын
This title is misleading. The question is not even discussed. It's about what kind of insurance, not how much much to buy.
@TamunoOpuboCooksCookeyGam3 жыл бұрын
PWL really took up the KZfaq Canada algorithm by storm. The top 3 videos are from you guys.
@spencerlloyd54253 жыл бұрын
Hi Peter, as a dual Canada-US citizen living in Canada, what is the best way for me to get bond exposure in my portfolio? Is there a specific investment vehicle I should use to be tax-efficient?
@PeterGuay3 жыл бұрын
Hi Spencer, I don’t know of any particularly tax efficient ways of investing in bond ETFs that aren’t PFICs. I would stick to a combination of BND and BNDX to keep it simple. Recognize that you’re getting all USD exposure for your bonds though, so you’re exposed to the USD/CAD fluctuations along the way.
@jackbar24763 жыл бұрын
This is amazing, short but really helpful!!!
@PeterGuay3 жыл бұрын
@Jackbar Thanks!
@Spicy0073 жыл бұрын
Why wouldn't you want to leave your family with more money? If I die, I'm going to wish I had even more life insurance
@PeterGuay3 жыл бұрын
Because insurance isn’t free. The opportunity cost of the premiums you pay along the way has to be considered.
@TomAndZel4 жыл бұрын
Good day,I'm interested and looking for a job as a nanny... I'm from Philippines a Bachelor of Science in nursing graduate....I have 2 kids and already have 2years experienced of taking care newborn, toddlers....I can assure you that im a good nanny of your newborn or kiddos....looking forward to meet my future nanny job....tnx
@sharonwoods30214 жыл бұрын
Hi in q matter of month I've cancelled 2 life insurance policies how can I find the right one or is there such a thing
@PeterGuay4 жыл бұрын
sharon woods all depends on your needs. Insurance agents tend to want to sell Permanent policies (Whole life or universal life) because they get bigger commissions on them. If you’ve got young kids that would need support if you weren’t there, then term insurance likely makes sense until they’re old enough to take care of themselves. If you’re trying to mitigate a potential family disagreement on your passing, then permanent insurance is likely better (but much more expensive!)
@larryg.wilson11204 жыл бұрын
I have seen many videos about insurance and how it works in the states. Now I'm planning to take new insurance from WB insurance (www.wbwhite.com/). The information you shared helped me to understand the difference between the termed and the permanent insurances. I hope more videos about insurance and related topics. Thank You.
@anmoljaura19364 жыл бұрын
As i am international student i wanna to know what are things which we should think before taking insurance well i was thinking to buy term insurance for some 20 years may be i dont know exactly sir please help me to find solutions and onw more thing sir i am going to buy this insurance from ivari insurance company
@anmoljaura19364 жыл бұрын
Haloo sir i am student international from india i love your videos from last few days i was thinking about this and i find its true i should have insurance as my parents took loan to send me here in case if something happens with me they will pay that and moreover they could have enough money for their livelihoods
@monicap15164 жыл бұрын
In less than five minutes you have answer existential questions that I had for years. Big thank you!!!!
@bobfichuk53044 жыл бұрын
RESP, I the Canadian parent hold this account but the kids are dual does it have to be reported on the Kids FBAR and U.S. filing?
@bobfichuk53044 жыл бұрын
One more question, Would it be okay to use the TFSA if you can track the gains and report? thanks, good video
@dmitryd54522 жыл бұрын
Sounds like you still have to file extra forms and then pay US taxes on these gains. So you may win a little (versus not having TFSA at all) for lots of extra work.
@bobfichuk53042 жыл бұрын
@@dmitryd5452 too bad our government won’t solve this issue with the US government. I guess it is better for them when tax payers don’t use TFSA
@bobfichuk53044 жыл бұрын
So in a U.S. Citizen living in canada can hold canadian stocks rather than FUNDS, that is okay? Or could they buy them on the DOW?
@KyrstOak4 жыл бұрын
Why is there only sound coming in my left ear?
@dylanhaugan91184 жыл бұрын
Hi Peter, I've heard many negative things about permanent life insurance and how it works in the states. The main two things being that you can't access your cash value without taking a loan against it, and when you die the insurance company keeps the cash value account. Does this differ in Canada? I'm from Saskatchewan
@stephenrobertakuchurean63842 жыл бұрын
no, you can assume that the cash value is lost in Canada too.
@cleanliving26634 жыл бұрын
Fantastic video! I plan to do just that with all my children's RESP accounts, just give them the CESG and whatever the appreciation on that money is. But I have one question, given the fact that this is essentially money I will save towards my retirement, it obviously would influence my choice of investment I buy. Since my retirement is decades away, would it make sense to buy something like VEQT or VFV? I don't want any bonds for now, and to be honest, even if the investment would drop 30% right before their post-secondary education, it wouldn't make that much of a difference on a $7200 initial investment over this short of a time horizon, and I will get my kids to get a student loan anyways. I would really appreciate your insight, thanks!
@alexdempsey81244 жыл бұрын
Should you borrow to invest ? Noooooo
@Iridescentlif35 жыл бұрын
Hi Peter, I love your content! Keep up the good work on educating people on these important topics! I am a 25 year old woman with no children at the moment, but I have been contemplating on whether to get life insurance now or wait. Also, I have been doing my research on the best life insurance companies in Canada, should I decide to purchase one. Do you have any suggestions on insurance companies I should consider? I want life insurance for myself now, because I don’t want to be a liability to anyone (especially, my family), should anything happen to me.
@PeterGuay5 жыл бұрын
Iridescentlif3 so glad you enjoy the videos! I’m not partial to any particular insurance company. A good insurance broker should help you choose the best company and policy to fit your needs.
@adarcus40535 жыл бұрын
This is actually a fantastic video. As someone who did early childhood education and was offered a nanny job about 5 years ago you make a lot of key points. I ended up declining the job because the number of children was higher than I was originally told. They were wanting me to be pay under the table which I was not comfortable with and what they were describing as the set up for the children sounded far more like a child care center connected to a business in which case would have set in motion a Cascade of legal realities.
@PeterGuay5 жыл бұрын
Adarcus great comment! I appreciate your perspective on the issue and agree that you shouldn’t try to do this under the table!
@nster35 жыл бұрын
Pour les personnes qui cherche le lien pour la chaine YT en francais: kzfaq.info/love/VMwN8oGinX1B4S9r4DZy5g
@akiljames835 жыл бұрын
Hey peter, just found this channel! Would love more videos like this as a dual citizen, especially tips on investing since we should make use of TFSAs. Keep up the content!
@PeterGuay5 жыл бұрын
Akil Hamilton Hi Akil, glad you liked it and thanks for subscribing!
@PeterGuay5 жыл бұрын
Read more insights and investment strategies via our team page. www.pwlcapital.com/teams/layton-guay/?