What to Do With RMDs and Taxes
Others know that RMD stands for required minimum distribution, but they don’t understand how the calculation and taxation work. Once you turn age 70 ½, the IRS requires you withdraw a percentage of your money in qualified accounts (401(k), IRA, 403(b), etc.) by December 31 each year. Many people don’t realize this money is also […]
Will shutdown trigger retirement tsunami?
Will the government shutdown of 2018-19 trigger the massive brain drain some experts have been predicting since the late 1990s? Will government service become less attractive to young people seeking interesting and steady careers? Or has it already happened, thanks to four shutdowns in a 12-month period, including the most recent wall-to-wall 24/7 news coverage […]
A carbon tax recession?
Premier Doug Ford ratcheted up his rhetoric on Ottawa’s climate change plan Monday, warning that the carbon tax will plunge the country into recession — a claim disputed by experts and the federal government. During a speech at the Economic Club of Canada, the Ontario premier said there were already warning signs of difficult economic […]
Urged to reconsider pipe
An environmental group wants the National Energy Board to reconsider the Trans Mountain expansion project’s impact on climate change, especially in relation to greenhouse gas emissions and the marine environment. Stand.earth filed a motion with the board asking it to apply the same standard to the project as it did with the Energy East pipeline, […]
46% live on financial edge
A new poll says the number of Canadians who are $200 or less away from financial insolvency at month-end has jumped to 46 per cent, up from 40 per cent in the previous quarter, as interest rates rise. A survey conducted for insolvency firm MNP Ltd. in December also found that 31 per cent of […]
IMF cuts forecast for 2019 growth in Canada, world
Trade tensions, higher rates drag on world economy as China becomes less likely to boost growth The International Monetary Fund has cut its forecast for world economic growth this year, citing heightened trade tensions and rising U.S. interest rates. The IMF said Monday that it expects global growth this year of 3.5 per cent, down […]