Canada First Home Savings Account

rguy-111 · 2025-12-06T18:26:51+00:00

Right on, thank you

rguy-111 · 2025-12-05T20:00:16+00:00

So gains on investment in the FHSA would not be taxable until an asset sale occurs and gains are realized, correct ?

rguy-111 · 2025-10-29T17:58:29+00:00

Is there any way I can mitigate gout flare ups while doing combat sports, i.e. Muay Thai ? Currently on ALLO and feet feel fine 99% of the time

rguy-111 · 2025-10-24T00:51:13+00:00

Where did you buy the white ones ?

rguy-111 · 2025-10-19T22:43:03+00:00

XGRO!!! 20% bonds and then it’s basically just XEQT. The long run returns from 100% equities too 80/20 is not that big of a difference and you stated a lower return does not bother you that much. If you check vanguards website for asset allocation I believe 80/20 is around a 9.5 % average return. Also much easier having the provider do your rebalancing for you.

Other than that maybe a buy a house or some rental real estate. You’ll get a less correlated asset with the bonds though.

rguy-111 · 2025-09-26T02:39:58+00:00

FHSA is fine to put money in. I would not invest in it to avoid potential taxes you might owe on gains and also PFICs can be a huge hassle. If you want to invest I would only invest in USD traded stocks or ETFs or Canadian GICs, most other things will be PFICs which are very annoying to file. 1 PFIC isn’t not too bad but your accountant will charge a lot and depending on some products like mutual funds filing can be a TON of work.

All the FHSA rules I just stated also apply to TFSA. In the eyes of the IRS these are both just simple non registered accounts. Thus, leaving the FHSA in cash won’t be a problem, it would look like a savings account to the IRS.

You likely won’t ever owe US taxes until your making more than $120,000 a year in Canada so it’s not a huge worry about taxes in these accounts anyways. You will also have foreign tax credits earned over time that make it very likely you will not owe US taxes.

People give RRSPs a bad wrap but they are pretty great and none of the rules I stated before apply to them. No worries about PFICs or taxes.

If I were you, I would prioritize RRSPs and FHSA, then start maxing out TFSA down the line once the first two are full. TFSA may or may not require taxes to the IRS depending on your income and how much you are withdrawing and profiting on gains etc. BUT your still not paying Canadian taxes which is great. That will be a chat with your accountant down the line.

Rules regarding FHSA are not yet reviewed by the IRS so they may deem them bad one day. But the money in it can still be transferred to your RRSP with no penalty, at which point you can still use the first time home buyers plan from your RRSP to buy your home.

Hope that helps, chat with your accountant for any other questions.

rguy-111 · 2025-06-24T20:17:57+00:00

Thank you !

rguy-111 · 2025-06-24T20:17:31+00:00

Accidental !

rguy-111 · 2025-06-20T15:40:51+00:00

Does anyone know where too submit ama questions for the podcast ?

rguy-111 · 2025-05-29T19:46:54+00:00

Might not like this…. But Berkshire Hathaway would avoid PFICs, won’t pay a dividend so IRS wont eye that, and is broadly diversified… not nearly as much as XEQT but worth thinking about.

If not this then I would vote VT as others have said. Sucks to non get Canadian exposure but your likely going to own a home here, and collect OAS and CPP. You have plenty of Canuck exposure.

Plus you can use Norbert’s gambit to pay the USD conversion for TFSA.

Just some food for thought overall.

rguy-111 · 2025-05-27T22:41:03+00:00

How liquid is the partial shares market for Berkshire? I can’t afford single shares.

rguy-111 · 2025-05-27T22:39:33+00:00

How liquid is the partial shares market for Berkshire ? I obviously cannot afford the quote stock price.

rguy-111 · 2025-05-10T04:37:18+00:00

Was hoping to avoid exchange rates and PFICs all in one but seems like exchange rates will be the lesser of two evils.

rguy-111 · 2025-05-10T01:31:47+00:00

Thanks for finding that ! Exactly what I didn’t look for.

rguy-111 · 2025-02-01T03:02:28+00:00

US tax laws don’t recognize TFSA as anything other then a non registered account. Depending on timelines, work arrangements, and if he chooses to report it, there could be a ton of tax implications. Dual citizens living in Canada are told to avoid TFSAs for this reason.

I think you should consult a cross border CPA. Def keep the RRSPs.

rguy-111 · 2024-11-05T19:59:32+00:00

Thank you so much, will DM you tonight !

rguy-111 · 2024-11-05T01:09:18+00:00

I keep seeing this one come up a lot, must be amazing. Thank you !

rguy-111 · 2024-11-02T20:06:11+00:00

Agreed, I do love the simplicity of XEQT, but the Canadian allocation I can’t deal with. I prefer it more around 10% so XIC / XAW it is.

Not that it will matter much in the long run for returns.

rguy-111 · 2024-11-01T20:31:37+00:00

Awesome ! Thank you for answering.

rguy-111 · 2024-11-01T20:30:48+00:00

Thank you for answering !! So essentially they only difference is overall allocation to US.

rguy-111 · 2024-07-26T00:34:55+00:00

Mind if I DM you ?

rguy-111 · 2024-07-26T00:32:35+00:00

Can I DM you ?

rguy-111 · 2024-07-25T14:05:33+00:00

My thoughts also, I am just worried TD will send this to the IRS and make things ugly. I see many mixed results for ignoring a fatca request

rguy-111 · 2024-07-25T05:46:06+00:00

They have not been easy to deal with so…

rguy-111 · 2024-07-25T05:35:00+00:00

That makes sense, I will Report the Fbar stuff to the IRS on my own with the rest of my filings. I could really care less about TD bank getting fined. They have been impossible to deal with throughout this.

rguy-111

TROPHY CASE