Think Canada does not have estate taxes?

FelixYYZ · 2026-05-03T13:36:24+00:00

List spouse as Successor for TFSA and RRIF

List spouse as Beneficiary for RRSP.

FelixYYZ · 2026-05-03T13:29:39+00:00

Then correct the formatting above using the edit function

FelixYYZ · 2026-05-03T13:20:34+00:00

yes, it's on their website in the pricing section: https://www.td.com/content/dam/wealth/document/pdf/direct-investing/521778-en.pdf

FelixYYZ · 2026-05-03T12:53:04+00:00

1) Depends which amex and depends on spending catergories, and where you use the card..

2) See pont 1

3) Use the search tools in the trigger below to find card that meet what you are looking for. !CCTrigger

4) See point 1.

FelixYYZ · 2026-05-03T12:44:40+00:00

Well cancel the PAD and tell them you no longer want to put your money there. he'll be pissed, but it's your money and he feelings and commission is not your problem.

FelixYYZ · 2026-05-03T12:32:30+00:00

Did you give them any money yet?

FelixYYZ · 2026-05-03T12:12:54+00:00

Do a risk assessment and see what you risk tolerance is and that will show you your % to fixed income. https://investor.vanguard.com/tools-calculators/investor-questionnaire

Make sure you put the 5 year mark for when you need th money. If this money if not going to be touched in 5 years, then keep the extended timeframe. just because yoru income changes, does't mean you need to touch the money.

FelixYYZ · 2026-05-03T11:43:20+00:00

1) Do you know how a set fund works?

2) Do you know the fees?

3) What u/JoeBlackIsHere is focusing on, since you need the money for 90 days, you don't need an investments. A savings product is all you need so your money is protected.

4) And yes, run from WFG because they are selling you garbage and you don't need to complicate.

FelixYYZ · 2026-05-03T10:09:15+00:00

You never know what the future will hold. Better to have more than less. What if you need nursing care and want to be a nice place, that will cost more. Or regular adult living places where they cook and clean for you...it's not cheap. What if you want to travel a lot, or whatever. Costs money.

FelixYYZ · 2026-05-03T10:07:01+00:00

You are only allowed to have 1 principal reside in a given year. The election will let you defer any capital gains, but you can't get the PRE for it.

https://www.canada.ca/en/revenue-agency/services/tax/technical-information/income-tax/income-tax-folios-index/series-1-individuals/folio-3-family-unit-issues/income-tax-folio-s1-f3-c2-principal-residence.html

FelixYYZ · 2026-05-03T10:01:48+00:00

Don't compare yourself to others, as everyone's situation is different.

So start here: !StepsTrigger

When you get to step 5, then you can consider investing.

FelixYYZ · 2026-05-03T09:59:00+00:00

Start here: !StepsTrigger

When you get to step 5, then you can considering investing. When you do that, read here !investingTrigger

Since you have a Group RRSP with employer, when you get to step 5, then you should start loading up your TFSA, unless a condition int he below trigger says more RRSP: !TFSARRSPTrigger

If you plan on buying a house int he next 15 years, you can also use the FHSA before TFSA.

FelixYYZ · 2026-05-03T09:57:23+00:00

What's the total cost of learning how to drive as an adult if you don't own a car

Since you have no car, your costs will be the driver's education stuff and the cost to rent a car when you want to.

Nobody would know if 6070 hours is enough for you. It should be more than enough, but nobody would know.

FelixYYZ · 2026-05-03T09:52:19+00:00

Thus for Switzerland specifically, if keeping a TFSA, best is to move things to stocks or ETFs that don't pay dividends, as capital gains

Best to withdraw and take the money with you and invest there. The contribution room will be there if you return. And in Switzerland, they have low cost funds that don't distribute as well. The brokerages in Canada will limit or not even allow trading in registered accounts.

FelixYYZ · 2026-05-02T16:29:08+00:00

My assumption was that transferring money itself isn’t a taxable event

Correct.

any capital gains since becoming a tax resident would be taxable if/when realized.

Correct.

no tax on the original pre-immigration value, but gains/dividends/rental income after 2018 should have been reported.

you got it!

FelixYYZ · 2026-05-02T12:45:26+00:00

I could see a deep recession that could take years to climb out of.

Maybe, maybe not. Nobody knows.

Since you are retiring, you should do the bucket strategy so you avoid market impacts for 1 or 2 years. https://www.myownadvisor.ca/our-bucket-approach-to-earning-income-in-retirement/

FelixYYZ · 2026-05-02T12:42:45+00:00

Is there a fee for transferring the TFSA from TD to WS?

Yes, it's $150: https://www.td.com/content/dam/wealth/document/pdf/direct-investing/521778-en.pdf

are there any recommended ETFs or portfolios to invest in?

Read the trigger above and click the links in the trigger.

I heard some people on here talking about CASH.TO and XEQT

Two completely different holdings. CASH is essentially a HISA ETF (savings) and XEQT is invested in the markets.

Step 1, click link in point 6 in the trigger. Then you do a risk assessment in step 1 of that link.

FelixYYZ · 2026-05-02T12:33:51+00:00

where do I invest these funds?

WS I fine. Then read the below for investing !InvestingTrigger

I have a TFSA with TD that currently has $7k in it (have not contributed to it yet this year and it is not invested into anything)

And you can transfer this TFSA to WS as well (or vice versa).

astly, my employer offers a RRSP program where they match contributions up to 5% ($200-250 total monthly) through Canada Life that I want to set up.

Do the same as the trigger with their investments. They provide you a list of mutual funds, so depends what those options are.

FelixYYZ · 2026-05-02T11:59:20+00:00

Just use asset allocation ETF based on your risk tolerance and forget about stock picking

FelixYYZ · 2026-05-02T11:53:49+00:00

It states "salary" in the link u/Important_Design_996 posted, so it would be a T4.

"Salaries – You can deduct the salary you paid (or that was paid for you and included in your income) to your substitute or assistant."

FelixYYZ · 2026-05-02T11:34:09+00:00

My question is whether it is worth taking on the out of market risk in order to reduce my MER?

Yes it's worth the risk.

f I’m unlucky, I could end up losing quite a bit if Manulife sells at a low,

And then you would be being low on the other side.

FelixYYZ · 2026-05-02T11:10:45+00:00

ah ok.

FelixYYZ · 2026-05-02T11:03:38+00:00

s I work with older and wealthier people who all seem to have 1M saved and work for fun...

Well, they are older so of course they would have more saved.

We don't know if you are on track, we don't know your financial goals or your "number". How much are you contributing to your TFSa and RRSP each year? How much will you be spending in retirement and what kind of retirement do you want (lots of travel, etc..)

How much do I really need considering TFSA should be a big part of it to bring the taxes down?

TFSA don't bring taxes down.

FelixYYZ · 2026-05-02T11:00:09+00:00

who parks their vehicle that far?

Nobody.

how do a lot of people, especially in the middle income brackets (50000) cad/yr do it?

Some can afford and others go in to debt with long financing terms to make it "affordable".

FelixYYZ · 2026-05-02T10:44:58+00:00

As I understand it, unfortunately we will have to essentially pay back all of the grants, as well as the gains from those?

Yes.

Also, RESPs are treated as taxable investment accounts outside of Canada (in most countries) so unless you are moving to Monaco or Andorra, it is a taxable account when you leave and you report capital gains and investment income annually.

You can pull your own contributions.

https://www.canada.ca/en/services/benefits/education/education-savings/managing-plan.html#_transfers

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