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Should Frank and Michelle pay off the mortgage on the house using some of the money from his purchase of a half share of the residence?

Should Frank and Michelle pay off the mortgage on the house using some of the money from his purchase of a half share of the residence?

Michelle, 72, and Frank, 75, plan to get married and merge their finances.CHAD HIPOLITO/The Globe and Mail Frank and Michelle plan to get married soon, merging their finances to some degree while keeping the best interests of their four children in mind. Frank is 75, Michelle 72. They each receive Canada Pension Plan and Old …

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Test your personal finance smarts with The Globe Money and Investing Quiz 2022

Test your personal finance smarts with The Globe Money and Investing Quiz 2022

1 Barring a major year-end rebound, the S&P/TSX Composite Index is poised to end 2022 in the red. Assuming this is the case, how many times over the past 20 years, including 2022, will Canada’s benchmark have posted an annual loss (excluding dividends)? a. Four b. Five vs. Six D. Seven 2 In 2022, the …

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Can Sadie afford to retire with an after-tax income of $60,000 a year?

Can Sadie afford to retire with an after-tax income of $60,000 a year?

Sadie receives a defined benefit pension plan of $15,816 per year.Jimmy Jeong/The Globe and Mail When a person dies, he is deemed to have disposed of his property at the time of his death. If they are married, their assets can pass to the surviving spouse on a tax-deferred basis. Naturally, questions arise about future …

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Should Irene melt down her RRSP to try to prevent some of her SV from being clawed back?

Should Irene melt down her RRSP to try to prevent some of her SV from being clawed back?

Shannon VanRaes/The Globe and Mail Within a year or two of her husband’s death, Irene took a crash course in financial planning, hired and fired a series of investment advisers, sold her stocks and then reinvested, and devised a strategy to keep as much his old age security. benefits as possible. “I now manage my …

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