RE:RE:RE:RE:RE:RE:RE:RE:Terribly unhappy at uptickBarstoolSage wrote: Luck of the draw and demographic made home ownership a win for me but then again that makes me older than you and just about ready to RRIF out.
We flew by Saint John and headed east to St Stephen to put distance between ourselves and Fiona. Next day we drove up through McAdam to the main route up to Edmunston and back into PQ...Do like the city you live in. I was lead on auditing a mine up in Newcastle Chatham area in my early years too and it was run out of Saint John. Had a brand new downtown shopping mall back in those early eightees.
Saw a big huge cruise ship or three this time around as we cruised around the city. We'd come from Fredericton and had decided to stay and catch the early ferry, as I said, hightailed it back north with the weather warning.
cpeczek wrote: You might have seen me. I live in Saint John. All those reasons you described and the plague of strip malls were definitely motivating factors, but the strongest for me was the housing costs. In 2017 I already saw that I was boxed out and paying an astronomical amount of rent. I applied to jobs in every province except BC and Quebec (even Northern Ontario). Got an offer to move to PEI, took it. Found it a little too cliquey and isolated to live in long term. Got a job with a relocation offer on a Wednesday six months later. Took it, drove over, found a place to rent, went back packed all my stuff and drove it over and started the following Monday. Definitely not looking back. Life is more relaxing here. Can see a full sky of stars on a clear night, clean air, lots of wildlife. Not missing the gridlock.
Sage,
If you are one of those who don't need cash from your RRIF, there's a strategy to use your accumulated cash each year to pay the required "withholding tax" on your de-registrations.
Ballpark example:
$25,000 total Dereg
$20,000 value of chosen equities at time of Dereg, say 2,300 GH shares
$5,000 cash used as "withholding tax"
Here's a more formal discussion of strategy:
https://www.taxtips.ca/rrsp/withholding-tax-deducted-from-rrif-and-rrsp-withdrawals.htm Not many people are aware that they can wind down their RRIFs without selling a single share they own!
Respectfully,
The RRIF whisperer