If you will be retiring with an inflation-indexed defined-benefit pension plan that will cover most of your living expenses, for example, maintaining an aggressive asset mix may be appropriate. I know seniors who are comfortable investing most, if not all, of their portfolio in stocks. Typically, they are experienced, relatively affluent investors who would have no financial worries even if the market were to go into the tank for several years.
You should also keep in mind, however, that you could easily live for another decade – or two or three – after you retire. For someone who is 65 today, the average life expectancy for men is nearly 82 years, and for women it’s nearly 86, according to Statistics Canada. That’s a long time for the stocks in your portfolio to appreciate and for their dividends to grow, so playing it too safe could have negative consequences – not just for you, but also for your heirs.
No. If you transfer losing shares to a TFSA or other registered account, you are not permitted to claim the loss for tax purposes. I currently hold a family registered education savings plan account at a discount broker for my two daughters. My oldest daughter is in her second year of university and the youngest is starting university in the fall. I know there is a $5,000 withdrawal limit for the first 13 weeks of school. Does that limit apply to my second daughter as well or only once per RESP account?
No. Spend it.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: globeandmail - 🏆 5. / 92 Read more »