#$PET Hi Folks!! Almost a year ago, i bought this stock and it's been in continuous downside, I don't know what to do this, all my stocks are doing great, I think I took a wrong bet on this one, what do you recommend should I sell it or keep it?? Comment if someone recommend to keep it, it's down 44% in my folioπ π
Understanding the Timing of a LIRA to LIF Conversion: Why You Canβt Withdraw Right Away Many Canadians approaching retirement are surprised to learn that converting a Locked-In Retirement Account (LIRA) to a Life Income Fund (LIF) doesnβt always mean immediate access to their money. While a LIF is designed to provide retirement income, the timing of your conversion can have a significant impact on when you can actually begin making withdrawals. What Is a LIRA? A LIRA is a retirement savings account that holds funds transferred from a pension plan when you leave an employer. Unlike an RRSP, the money remains βlocked in,β meaning it is intended to provide retirement income rather than be accessed at any time. When youβre eligible under your pension legislationβtypically beginning at age 55, though this varies by jurisdictionβyou can convert your LIRA into a LIF. So Why Canβt I Take Money Out Right Away? This is where many people are caught off guard. In several jurisdictions, if you convert your LIRA to a LIF late in the calendar year, you may not be able to make regular LIF withdrawals until the following year. Thatβs because the annual minimum and maximum withdrawal limits are calculated on a calendar-year basis. When a LIF is established, the financial institution must determine how much youβre allowed to withdraw for that calendar year. Depending on the governing pension legislation and the timing of the conversion, there may be little or no available withdrawal room remaining for that year. As a result, many retirees donβt receive their first LIF payment until January of the following year. For someone who was expecting immediate retirement income, this can create an unexpected cash flow gap. Planning Around the Calendar If youβre relying on your LIF to fund your retirement, timing matters. Before initiating a conversion, consider: * Whether youβll need income immediately after the conversion. * If it makes sense to convert earlier in the year rather than waiting until the fall or winter. * Whether you have other savings available to bridge the gap until LIF withdrawals begin. * The specific rules that apply to your provinceβs pension legislation, as these vary across Canada. A little planning can help ensure your retirement income starts when you expect it to. Donβt Assume Every Province Has the Same Rules LIRA and LIF rules are governed by pension legislation, not tax law, so they differ depending on whether your pension falls under federal or provincial jurisdiction. Minimum ages, withdrawal limits, unlocking options, and timing rules can all vary. Before converting your LIRA, itβs worth reviewing the rules that apply to your specific plan and discussing the timing with your financial advisor or institution. Converting a LIRA to a LIF is an important milestone in retirement planning, but itβs not always as simple as flipping a switch and accessing your savings immediately. Understanding the calendar-year rules and planning your conversion accordingly can help you avoid unexpected delays in receiving retirement income and make your transition into retirement much smoother. This is why you must have a cash wedge for any unforeseen issues like thisβ¦plan ahead. I went late summer and by the time everything was flipped over, I was able to start withdrawing in the following calendar year.
I am currently 47 years old. Unfortunately in that time frame I have lost a lot of family members. Some (most) were accidents, some to age, some to cancer, and one to suicide. Thatβs 11 deaths total. Only 1 person out of 11 had a will. When you are grieving the last thing you want to do is close an estate up. Itβs even harder if nothing has been prepared in advance. After the initial shock of the death settles (the phase where everyone is usually nice), greed comes through in a most alarming manner. Iβve watched people turn into monsters. Make sure you have a will!!!! or people will fight. οΏΌ I know most people hate thinking about their death or their spouses death but honestly itβs just a fact of life. Iβve personally been the executor of 2 estates now. This is my advice: 1. If your young get life insurance. If youβre retired itβs not worth it. 2. Make sure you have a will. 3. Make sure you have a personal directive. 4. Make sure you have a power of attorney set up. 5. If your married make your spouse the beneficiary of your TFSA and RRSP(has to be done through the account not the will), they will roll into the spouses account without taxation. 6. If youβre married, and you own a house, make sure both names are on the title, joint tenant, NOT tenant in common. This activates right of survivorship on property and doesnβt have to go through the estate. 7. If youβre married, both people should have their name on all the vehicles, joint, otherwise itβs a headache after death. 8. Buy a file folding system. I have a plastic one that has a clasp and handle. 9. Put EVERYTHING in this file folder that would be needed if you died tomorrow. a) all land titles B) information on house insurance so it can either be eventually canceled or name changed over. C) your οΏΌwill (or the location of your will), οΏΌ power of attorney, and personal directive D) the information for your car, car insurance, and registration on vehicles. E) information on life insurance. F) all current year papers needed for filing your taxes. Because the survivor will have to do it and will need that information. G) where your household bills are. ALL OF THEM, electricity, gas, Netflix, magazine, subscriptions everything you can think of that is in their name. Because you are going to have to cancel them. H) their credit card information where to contact to cancel the cards I) birth certificate, SIN numbers, marriage, license, etc. J) information on all your investments accounts, bank accounts, etc. K) anything else you can think of for your situation If youβre married, Iβd have one box per person. When you die, the funeral home will issue many death certificates. And your lawyer will give you copies of the will. These will be needed to change over any accounts. Everything else goes through the estate which is taxed and the lawyers take their fees so Iβd avoid this as much as possible especially if youβre married. This is why having property in both peopleβs names is so important because it doesnβt have to go through probate. I am widowed now and I have my black file folder and my two remaining children know if something happens to me, all they have to do is grab the folder. Everything they need to take care of my estate will be located in this folder. At the beginning of every year, I open this file up and go through everything to make sure itβs up-to-date. If you are young and do not own much or canβt afford a will, you can draft one up but it must be handwritten to be classified as a legal document. You cannot type it out!! If youβre not worth much, everything will most likely be sold to pay your bills and cover your funeral expenses. But you can state who your executor will be in your handwritten will. οΏΌ Disclaimer Iβm not a lawyer or an accountant and this is not legal advice. Talk to a lawyer and talk to an accountant. Make sure everything is set up for you and your situation. These are situations that I personally ran into. Good luck Also Iβll add in. IF you have a lot of assets make an appointment with your accountant first. They will tell you how to properly set things up. Then take that information to your lawyer.
I was thinking about this infinite money-making trick recently, but it looks like it's just not possible for regular investors like us due to strict regulations. The trick is called the Yen Carry Trade, and in an ideal world, it sounds like literal free money: You borrow money in Japan because interest rates there are incredibly low (around 1%). You convert that cash into US dollars. You invest those dollars into safe US assets paying around 3.5%.You pocket the 2.5% difference as pure profit. What do you guys think? Do you think regulators are right to lock retail investors out of these high-leverage currency trades, or should we be allowed to take the risk? Let's talk in the comments! π lol ππ
Last year, we handed out awards to some incredible people in the Blossom community like @williamwang23, @flipflopfinance, @perryf and @paulsantori. This time, we're switching it up and we want YOUR input π«΅ Our community has shared thousands of posts, sparked countless discussions, and helped investors of all experience levels become more confident. Now it's time to recognize the members who made the biggest impact. We're officially opening nominations for the 2026 Blossom Community Awards! Here are the award categories to which you can nominate someone: π Creator of the Year Awarded to the creator who has consistently delivered outstanding content, inspired the community, and made an exceptional overall impact on Blossom throughout the year. πΈ Community MVP Awarded to the community member who made the biggest positive impact on Blossom through their kindness, helpfulness, and consistent support of others. β¨ Rising Star Awarded to the creator who has had a breakout year on Blossom, rapidly growing their presence, engaging the community, and showing tremendous potential for the future. Know someone who deserves one of these awards? Nominate them here: https://docs.google.com/forms/d/e/1FAIpQLSfSlYHZBjj-F0lQ1ACtZYF_gqopbPBLV93Kka56vzrCYPWPGg/viewform?usp=dialog Nominations will be open until Friday, July 10. One submission per category per person. We can't wait to celebrate the incredible people who make Blossom such a special place. β€οΈ
The Pension Income Tax Credit: A Hidden Gem in Canadaβs Tax Code How a $2,000 tax creditβand the right pension planβcan save you hundreds, or even thousands, in retirement. βΈ» Most Canadians spend decades building their retirement savings, carefully choosing between RRSPs, TFSAs, and pension plans. But far fewer pay attention to what happens on the other side of retirementβhow that income is taxed, and how to legally reduce that tax bill. Enter the Pension Income Tax Credit (also called the Pension Income Amount): one of the most overlooked and misunderstood tax credits in Canadaβs tax system. Hereβs what every Canadian should know. βΈ» What Is the Pension Income Tax Credit? The Pension Income Tax Credit is a federal non-refundable tax credit available to Canadians who receive eligible pension income. It allows you to claim a credit on up to $2,000 of eligible pension income each year. At the federal rate of 15%, that translates into a tax reduction of up to $300 annually. Most provinces also offer their own pension income credit, increasing the total tax savings depending on where you live. While the credit alone may not seem substantial, it can provide valuable tax savings every year throughout retirement. When combined with pension income splitting, the overall savings for many couples can be significant. βΈ» Who Qualifies? Eligibility depends not only on how much pension income you receive, but also on what type of income it is and how old you are. Under Age 65 If youβre between ages 55 and 64, eligible pension income is generally limited to: * Lifetime pension payments from a Registered Pension Plan (RPP), including defined benefit and defined contribution workplace pensions * Certain qualifying annuity payments, including annuity payments from the Saskatchewan Pension Plan (SPP) Importantly, RRSP withdrawals and RRIF income generally do not qualify before age 65, even if you have retired. βΈ» Age 65 and Older Once you reach age 65, the list of eligible pension income expands considerably to include: * Registered Pension Plan (RPP) income * RRIF withdrawals * Eligible annuity payments purchased with RRSP or DPSP assets * Other qualifying pension and annuity income This is one reason why the timing of converting an RRSP into a RRIFβand when you begin drawing retirement incomeβcan have meaningful tax consequences. βΈ» The Saskatchewan Pension Plan Advantage One feature of the Saskatchewan Pension Plan (SPP) surprises many Canadians. SPP is Canadaβs only voluntary, government-backed defined contribution pension plan that is open to Canadians with available RRSP contribution room. Unlike RRIF income, SPP annuity payments qualify for the Pension Income Tax Credit beginning at age 55. That means Canadians who retire before age 65 may be able to access the pension income tax credit up to ten years earlier than if their retirement income came solely from an RRSP or RRIF. For Canadians considering early retirement, this feature can make the Saskatchewan Pension Plan an attractive complement to a traditional RRSPβnot necessarily a replacement. βΈ» Pension Income Splitting: Where the Real Savings Can Be The Pension Income Tax Credit becomes even more valuable when paired with pension income splitting. Canadian tax rules allow eligible couples to allocate up to 50% of eligible pension income to a spouse or common-law partner for tax purposes. If one spouse has significantly more retirement income than the other, splitting pension income can reduce the householdβs overall tax bill by shifting income into a lower tax bracket. Example Suppose you receive $40,000 of eligible pension income each year while your spouse has little retirement income. Without pension splitting, you report the full $40,000. With pension splitting, each spouse reports $20,000. Depending on your province and your other sources of income, this strategy can reduce your combined tax bill by hundreds or even thousands of dollars annually. Keep in mind that only eligible pension income can be split. Employer pension income often qualifies before age 65, while RRIF income generally becomes eligible at age 65 (subject to certain exceptions). βΈ» What This Means for Alberta Retirees If you live in Alberta, the federal Pension Income Tax Credit is complemented by a provincial pension income amount. Together, these credits can reduce your annual tax bill by several hundred dollars. For retired couples, combining the pension income amount with pension income splitting may produce meaningful tax savings over the course of retirement. βΈ» How to Claim the Credit Claiming the Pension Income Tax Credit is straightforward. 1. Report your eligible pension income on your annual T1 Income Tax Return. 2. Claim up to $2,000 on Line 31400 β Pension Income Amount. 3. The federal credit is calculated automatically at 15% of the eligible amount. 4. If you are splitting pension income with your spouse or common-law partner, complete Form T1032 β Joint Election to Split Pension Income. Depending on the source of your retirement income, youβll generally receive a tax slip such as a T4A, T4RIF, or another appropriate pension information slip to assist with filing your return. βΈ» Key Takeaways * The Pension Income Tax Credit provides a federal tax reduction of up to $300 annually, with additional savings available through provincial pension income credits. * Eligibility depends on both your age and the type of retirement income you receive. * Before age 65, eligible income is generally limited to employer pensions and certain qualifying annuities. * At age 65, RRIF withdrawals and many additional forms of retirement income become eligible. * The Saskatchewan Pension Plan is unique because its annuity payments can qualify for the credit beginning at age 55, potentially providing tax savings up to ten years earlier than RRIF income. * Eligible couples may also split up to 50% of qualifying pension income, potentially saving hundreds or even thousands of dollars in taxes each year. * Planning how you withdraw retirement income can be just as important as planning how you save it. βΈ» This article is intended for general informational purposes only and should not be considered financial, legal, or tax advice. Tax rules can change, and individual circumstances vary. Before making retirement income decisions, consult a qualified financial advisor or tax professional.
Curious to hear everyoneβs thoughts β are you looking for a pullback here, or do you think this dip is bullish from here? Would love to hear your perspectives and what signals youβre watching.
If youβre interested in being part of the biggest retail investor event in North America and help bring the Blossom community together IRL, weβd love to have you join us! Weβre looking for volunteers who are available for the full day on July 25 in Toronto. Volunteers will receive: π½οΈ Food + drinks provided π A BlossomCon shirt π A small thank-you gift π A behind-the-scenes experience with the Blossom team and community Apply here: https://docs.google.com/forms/d/e/1FAIpQLSehHzvurSoNLbOS6obk6ev89RAW9w3MoguAcZImL1stBQ_qYw/viewform If you're not interested in volunteering but want to come to BlossomCon Toronto, tickets are still available!!!! Get them before its too late here: https://admitone.com/events/toronto/community/conference/blossomcon-2026-toronto/SP8BHC and use code BLOSSOM for 15% off!! Can't wait to see you all in a few weeks!!!! It's gonna be a blast π₯
okay this might sound backwards coming from someone who won't shut up about investingβ¦ but if you've got high-interest debt, hear me out for a sec π when i started, i thought the goal was to get money INTO the market as fast as possible. but if you're carrying something like credit card debt at 20%+ interest, that debt is quietly growing faster than most investments realistically will π€·π»ββοΈ think about it this way: paying off a card charging 20% is basically a guaranteed 20% return. no ETF can promise you that. the market averages way less over time β and it's not even guaranteed π so before i threw everything at ETFs, i knocked out the expensive debt first. how i think about it now: - high-interest debt (credit cards, payday loans) β attack this FIRST - low-interest debt (some student loans, mortgages) β usually fine to invest alongside - once the pricey debt's gone, funnel that same payment straight into investing π the bonus? paying it off felt like lifting a weight i didn't realize i was carrying π way more freeing than watching a stock tick up. it's not the exciting answer. there's no chart going up. but it's the move that sets everything else up πΈ not financial advice, always do your own research π what are you tackling first β debt, or investing? π
Iβve caught so many 150%-200% plays on $SPY these last few weeks Iβve honestly lost track of how many , ππ all I know is weβre making a shit ton of money. $SPY
Hey space stock holders!! Next week, on July 15 at 1 p.m. ET, Iβm joining @maxstocks and Global X for an AMA live on YouTube! Weβll be discussing SpaceX ($SPCX), satellite communications, defense and space technology, public vs. private space companies, and the opportunities and risks investors should be watching. $ORBX$ORBX Ask us anything here: https://www.reddit.com/u/globalxca/s/9ptGGSVDVt
