The Canadian Money Roadmap Your Q's Answered: Portfolio Building, TFSAs, and Navigating Capital Gains Tax
In this iteration of listener Q&A, we'll kick things off by discussing the concept of selling winners and buying losers, and why maintaining a target allocation is crucial to avoid overexposure to a single risk. We also explore the unpredictability of country performance and the importance of diversification when building a portfolio of stocks.
Dive deeper into the benefits and risks of holding individual stocks within a Tax-Free Savings Account (TFSA). We reveal why it's best to have these stocks in a non-registered account and address the complexity of transferring investments between account types. As we unravel the confusion surrounding capital gains tax, you'll gain a greater understanding of how the Canada Revenue Agency (CRA) taxes capital gains, how capital losses can offset future gains, and even how donating these assets can become a valuable tax planning strategy.
📝Financial Foundations Scorecard - See how you score in the areas of cashflow & spending, saving & investing, debt & risk protection, and retirement readiness. Instant feedback and recommendations on how to improve your finances.
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