This video is about some actions to help with #taxes, #financialgoal and #Budget for the #2024 and #2025 calendar years. With the #NewYear having come and gone, I thought I would share some things that I did on #January 1st of 2025, and what the state of my #finances is. I look at my #networth, budget, total #dividends, #taxbrackets, #compare my #investing prowess against the #benchmark, show my 2025 #TFSA purchase, #fees, creating #SMART #goals, #rebalancing a #portfolio and other #administrative things for 2025.
The #CanadianMoneyTalk channel concentrates on #Canadianinvesting and #personalfinance in Canada.
I get asked very often about how to start #investing. Make sure you #start #early and as soon as possible. Find an #investingthesis, get your #riskprofile so you know what to invest in, and then use #ETFs in a #TFSA or #RRSP #account in a #lowcost #brokerage to start making #monthly #contributions.
The #CanadianMoneyTalk channel concentrates on #Canadianinvesting and #personalfinance in Canada.
As a #dividend #investor, I look at #pros and #cons of #dividend #investing to see whether it is appropriate for you. I look at #taxes, #growth, #Value and the #psychology of dividends and staying invested.
The #CanadianMoneyTalk channel concentrates on #Canadianinvesting and #personalfinance in Canada.
We look at official, purposeful #financialplans, that identify your #financial #goals and #plan to achieve them. Plans also include a #budget, review of #income, #expenses, #planning for #retirement, retirement #withdrawals, #riskmanagement, keeping #taxes low, #estateplanning like #wills, and getting out of #debt.
The #CanadianMoneyTalk channel concentrates on #Canadianinvesting and #personalfinance in Canada.
I compare different investment types like #stocks, #bonds, #realestate, #privateequity, #startup, #business, #gold, and #crypto #, from the point of view of #risk, #appreciation, #leverage, #liquidity, #control, #cashflow, #dividends, #taxes, and #inflation.
The #CanadianMoneyTalk channel concentrates on #Canadianinvesting and #personalfinance in Canada.
The video is a Zoom call recording from January 23, 2024, presenting the information I compiled over a decade about #personalfinance and #investing.
Topics for this session 1: Recap of Parts 1 & 2 8: Insurance 9: Financial Independence 10: How to start Investing 11: Other types of investments 12: Financial Advisors & Other Information
The #CanadianMoneyTalk channel concentrates on #Canadianinvesting and #personalfinance in Canada.
If you are using a non-registered (cash) account for your investing for cash flow and dividends, you may want to invest in Canadian Eligible Dividend payers. The dividends they pay get taxed very leniently, especially in lower tax brackets – check www.taxtips.ca for your province’s tax treatment. In BC, if I have no other income, the first approximately $50,000 of the dividends is not taxed at all, for example – see below. The government is encouraging us to buy Canadian. And the money you keep, not the money you earn, is important.
I compiled a list of Canadian dividend payers, and classified what types of dividends they pay. I tried to find a list online previously, and mine appears to be the first one. Even the CRA tells you to check the company’s Press Releases or website (Investor section). You should confirm the taxes on the dividends before buying the stock, by looking for “eligible”, “eligible dividends”, “enhanced” and the phrase section 89(14) of the Income Tax Act on the company’s site or in the Press Releases.
You also have to be an individual (other than select trusts) and be a Canadian Resident to qualify for the great tax treatment.
Canadian Money Talk 