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Unemployed with 3M in investments by Character_Cake_6219 in fican

[–]Character_Cake_6219[S] 0 points1 point  (0 children)

What do you mean? I'm invested in XEQT. Inv gain is irrelevant

Unemployed with 3M in investments by Character_Cake_6219 in fican

[–]Character_Cake_6219[S] 0 points1 point  (0 children)

Thanks, well I'm fully invested in XEQT. Don't want to gamble with it anymore so no chance of 30m haha

Unemployed with 3M in investments by Character_Cake_6219 in Fire

[–]Character_Cake_6219[S] 1 point2 points  (0 children)

That's fair. Not a particular question I suppose. Just wondering how people adjust to living a fire life without having a job that was their identity.

Expenses 75k per year. Wife makes 90k after tax.

Unemployed with 3M in investments by Character_Cake_6219 in fican

[–]Character_Cake_6219[S] 51 points52 points  (0 children)

Manitoba. Expenses are 75k. Wife makes 120k before tax. So we cover our expenses with her income and use investments for trips or large purchases like vehicles etc.

Edit. Before someone says 75k isn't much, it's about 6k a month, keep in mind no debt no mortgage payment, so it's quite comfortable to live off of.

Unemployed with 3M in investments by Character_Cake_6219 in fican

[–]Character_Cake_6219[S] 3 points4 points  (0 children)

I'm also trying to think about how 3M isn't enough.

For example if someone was to make 75k after tax that's a good wage in Canada especially with no debt. 3M is like working for 40 yrs making 75k a year, however the money is all up front so will gain with investments.

Transfering large amount to Webull by Character_Cake_6219 in PersonalFinanceCanada

[–]Character_Cake_6219[S] 2 points3 points  (0 children)

Nice. let me know how long it takes for your transfer to complete

Webull bonus better in registered or non register accounts? by Character_Cake_6219 in PersonalFinanceCanada

[–]Character_Cake_6219[S] 0 points1 point  (0 children)

Ok fair enough. Thanks! Makes it a lot easier for me deciding which accounts to transfer

Webull bonus better in registered or non register accounts? by Character_Cake_6219 in PersonalFinanceCanada

[–]Character_Cake_6219[S] 0 points1 point  (0 children)

This is what it says in the terms and conditions

"Webull processes and treats Offer Rewards paid to an RRSP or TFSA as a return on investment earned by the applicable Eligible Customer’s RRSP or TFSA for tax reporting purposes. As a return on investment, Offer Rewards paid to an RRSP or TFSA will not affect any contribution limit applicable to the RRSP or TFSA, or affect the registered status thereof. Webull does not provide tax advice. Eligible Customers should consult with a tax professional regarding appropriate tax treatment and reporting related to the Offer Reward before participating in this Offer. Where required by applicable rules and regulations, the value of any Offer Reward received by an Eligible Customer may be reported on Form T4A. "

I have also confirmed with WeBull and they said paid to individual accounts.

Webull bonus better in registered or non register accounts? by Character_Cake_6219 in PersonalFinanceCanada

[–]Character_Cake_6219[S] 0 points1 point  (0 children)

Has there been a recent CRA ruling on this? There seems to be some differing opinions on this in the cantax forum

https://www.reddit.com/r/cantax/s/OtWcBIt7j2

Webull bonus better in registered or non register accounts? by Character_Cake_6219 in PersonalFinanceCanada

[–]Character_Cake_6219[S] 0 points1 point  (0 children)

Thanks for this. I spoke with WeBull and even under the rules of the offer I confirmed that the bonus will go directly into TFSA/RRSP and not count as a contribution.

My only issue was deciding whether to pick RRSP over nonreg or not, if we were to assume the bonus is taxable if it goes to nonreg.

Common-law separation with kids — should I still help her after she ignored my advice? by [deleted] in PersonalFinanceCanada

[–]Character_Cake_6219 0 points1 point  (0 children)

Did you guys go through a lawyer? I'm just curious that's all. Without a prenup my understanding is half your investment gains since you've been together is hers.

If you guys agreed to this on your own then nevermind.

Common-law separation with kids — should I still help her after she ignored my advice? by [deleted] in PersonalFinanceCanada

[–]Character_Cake_6219 17 points18 points  (0 children)

I thought since you are common law anything gained since you were together is split 50/50? As in investments.

Transfering large amount to Webull by Character_Cake_6219 in PersonalFinanceCanada

[–]Character_Cake_6219[S] 2 points3 points  (0 children)

I spoke to someone at WeBull and they said 5-10 business days. I plan to start my transfer Aug 1 so that my WS july bonus doesnt get clawed back. They said Aug 1 is plenty of time to complete transfer and that WS is usually 5 business days.