March 2010 Net Worth Update (+2.03)

Welcome to the Million Dollar Journey March 2010 Net Worth Update. Another month, fortunately another net worth gain.  Usually when it comes to personal finance, there are two main lines of thought.  The first, and perhaps the most common, is to spend less than you earn.  This train of thought leads to frugality and separating your needs and wants. The second line of…

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In-Kind Transfers of Non-Registered Stocks to an RRSP/TFSA

I’m a bit late getting to this reader question as the RRSP deadline was at the beginning of this month (March 1, 2010), however, this can apply to the current tax year.  The question relates to the tax implications of transferring stock in-kind to an RRSP or a TFSA. Say Mr. Investor has stock in…

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RESP Portfolio Update – March 2010

Resp Portfolio Update 2010

It’s been over year since my last RESP portfolio update and probably would have been longer if it wasn’t for a reader request for a quick update. Our RESP portfolio for our child is setup with TD e-Series mutual funds which provide a low cost way to index the market.  I chose to go with mutual funds…

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Capital Gains Tax Within a Corporation

As I have setup a corporation to hold my online business, I’m learning the ins and outs of how taxes work within a corporation.  More specifically, how to effectively extract money from a corporation in a tax efficient manner.  For example, the dividend sprinkling strategy allows effective income splitting for shareholders within the family. One thing…

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Feb 2010 Net Worth Update (+1.54)

Welcome to the Million Dollar Journey February 2010 Net Worth Update. There was a small market correction in late January/early February but the market is still as resilient as ever bouncing back above the 50 day moving average.  As a result, my portfolio numbers remained status quo. The biggest financial move this month was that…

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