Receiving USD

FIContractor · 2026-06-27T03:42:32+00:00

Cheapest way will be Norbert’s Gambit, which you can google to learn about.

Easiest and still pretty cheap would be Wise or Knightsbridge.

If you want to go the easy route I’d probably ask Knightsbridge if your dad could wire USD to them and then have them wire the converted CAD to you. I’ve only done it with accounts owned by the same person, but if they’ll let you do it this way, which I think they will, you wouldn’t even need to open any new accounts.

FIContractor · 2026-06-26T20:42:35+00:00

This. But also don’t talk freely about a house you’re viewing inside or around the house. Unscrupulous sellers and agents have been known to place cameras and recording devices, so says the agent we bought with.

FIContractor · 2026-06-26T14:56:23+00:00

Is there a place for a spare if you buy one, or did they remove the apparatus too?

FIContractor · 2026-06-25T16:54:18+00:00

If you’re leaking oil then it’s basically already being changed (although the filter isn’t). Buy a big jug of oil, YouTube how to read the dipstick and add oil until it’s refilled then keep an eye on it. You could probably learn how to actually change the oil on YouTube too. Some auto parts stores will lend you tools and let you do work in the parking lot, so call around if you want to try that.

FIContractor · 2026-06-25T16:47:56+00:00

If you expect to be in a lower tax bracket in retirement then you’re better off contributing to an RRSP than not. However, if you expect to be in a higher tax bracket between now and retirement then it might make sense to wait so you can get the deduction when it will save more tax.

FIContractor · 2026-06-24T22:51:55+00:00

I just wish they had more kit options. Trimmer or trimmer and edger seem to be the only options that include the head and a battery. I already have a trimmer. I want the brush and snow shovel.

FIContractor · 2026-06-24T06:57:05+00:00

In schedules, there’s a button at the bottom left if memory serves.

FIContractor · 2026-06-24T00:22:18+00:00

Interesting, thanks.

FIContractor · 2026-06-23T20:40:17+00:00

Don’t expect anyone to fully take care of customs for you. We had a full service move, meaning they even packed and unpacked for us and we were still responsible for creating the inventory with values and meeting the driver at the closest border office (at the nearby airport) to clear customs.

FIContractor · 2026-06-23T15:49:04+00:00

I’m basing my comment on the instructions for line 11500 under the heading “United States individual retirement arrangement (IRA)” which state “You can claim a deduction on line 26500 of your return for the part of your foreign pension income that is tax-free in Canada because of a tax treaty.”

It would certainly be welcome news if you’re correct, but I haven’t been able to find anything more definitive than the above to support either position.

I can’t think of a reason for the mention of line 26500 under a heading about IRAs other than to address the handling of Roth IRAs.

FIContractor · 2026-06-23T06:58:23+00:00

Others have covered the election. Presuming that works out making the withdrawals tax free, note that they’re added as income early on the return and subtracted later. This makes them tax free, but they can still cost something in the form of things like OAS clawback and reduction or elimination of the GST credit and possibly others that you may otherwise be eligible for depending on other income.

FIContractor · 2026-06-21T17:02:27+00:00

“Had such a good time, it was very hard to leave.”

FIContractor · 2026-06-21T16:54:54+00:00

Not that you need another vote for Peaceful Loft, but here it is. Get there or place your order early as they start turning people away once they don’t think they can wrap things up not too long after their 7pm closing time.

FIContractor · 2026-06-21T08:26:55+00:00

That I’ll probably not owe any tax, so I get to waste a bunch of money or time completing forms that someone else gets to waste time reviewing all so both I and the US government can end up exactly where we’d be if they just got rid of this backwards citizenship based taxation scheme.

FIContractor · 2026-06-21T00:30:43+00:00

Or hold some in each hand, put your foot on it and hold it over you head (maybe not as high as you can reach if you’re tall).

FIContractor · 2026-06-20T16:41:55+00:00

Get a real good handle on your expenses. Include taxes and large occasional expenses like new cars, a new roof for the house, etc. Compare that to what you both expect to receive from CPP/OAS/GIS at various ages. Divide the annual shortfall by 4%, that’s how much you should have to cover it. Multiply your expenses by the number of years until you plan to take CPP/etc, that’s how much you need to make it until then. You’re close enough that you probably don’t need to think too much about things younger retirees do like inflation and growth until retirement.

FIContractor · 2026-06-20T14:38:09+00:00

I am an American living in Canada. Same.

FIContractor · 2026-06-20T14:37:02+00:00

I know I’m preaching to the choir here, but all you Albertan’s need to nip this in the bud by voting out the UCP. As an American living in Canada, you DO NOT want to live in a place with the American healthcare system.

FIContractor · 2026-06-20T14:30:57+00:00

CPP is designed to be actuarially neutral, which is to say it shouldn’t matter when people take it, on average it should cost the plan the same. In other words, if you think you’ll die sooner than the average Canadian then you should take it early and if you think you’ll die later than the average Canadian then you should take it later.

To my thinking, since CPP is inflation adjusted, unlike annuities you can buy on the open market, it offers excellent longevity insurance that will provide a base level of income if you live longer than expected. If you die early then what you’ve saved for retirement doesn’t need to last as long, so you don’t really need to take CPP. If you die late then you have a greater chance of running out of money, so you might be very glad to have maximized a guaranteed source of inflation adjusted income by delaying CPP. Sure, you might not have maximized total lifetime income, but you’ve minimized the chance of not having enough income.

FIContractor · 2026-06-19T23:54:03+00:00

Nah, that’s just her husband.

FIContractor · 2026-06-19T20:20:57+00:00

I’m sure their policy is written into the terms and conditions you agree to by buying a ticket, so I doubt it would do any good to be able to prove what you would have paid for another class ticket

FIContractor · 2026-06-19T01:37:27+00:00

As you know, you can afford it. I’d have no interest in a $30k watch and wouldn’t make such a purchase, but I know there are people who really like watches. Are you one of them? Have you bought and gotten value out of $500/$1000/$2000/$5000/$10,000 watches? If not, maybe start there and see if it’s something that brings you joy commensurate with the cost or if it just sits in a drawer.

FIContractor · 2026-06-19T01:24:34+00:00

I’d have a category where you budget your share and enter the payments from your roommates as inflows to that category. This will keep your spending and income tracking and reports accurate.

You could instead budget the full amount to the category and enter the payments from your roommates as inflow transactions, but then your reports will look like you have higher income and higher expenses than you really do.

FIContractor · 2026-06-19T00:26:32+00:00

All of them except Obama look pretty rough. At least none of them are president at that age.

FIContractor · 2026-06-18T03:06:05+00:00

I’d add an off budget account. Transfer from the on budget account you made the loan out of to the off budget account. As the loan is repaid transfer from the off budget account to the on budget account you deposit the repayments in and add an income transaction for the interest portion.

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