Who Are You Voting For (2021 Edition)?

[Slava]

Originally Posted by gasman

The maximum monthly combined payment for OAS and GIS is reached if there is no other income other than OAS and GIS. Once you start earning income outside of these programs the amount is rolled back.

Income from a TFSA is not considered Income. So in theory if you had $1 Million in a TFSA you could fund your retirement while collecting GIS and OAS.

If you tried the same thing with an RRSP, the withdrawals are treated as income and your GIS and OAS are clawed back proportionally.

At this point, the cumulative limit for the TFSA is $75,500 though. While there are a few that are anywhere near $1m, I'd guess that we're talking the extreme minority of accounts at this point. So sure, it's tax-free, but for current retirees they likely aren't just living from their TFSA. Next generation of retirees? that might be a different story.

[Erick Estrada]

Originally Posted by Macman

The last few elections have been rather disappointing in as far as things actually changing and people's lives improving. There just seems to be a disconnect between politicians and regular people.

This is why I don't understand why anyone would vote Liberal. Let's just forget about the scandals for a moment and focus on what they have accomplished. They have largely accomplished nothing in two terms. The groups he's made promises to like environmentalists aren't happy, the indigenous people aren't happy, military aren't happy, nobody is happy about the deficit, etc. Electoral reform was one of his biggest promises in 2015 and they reneged on that. If legalizing marijuana is all you have to show for a couple of terms I would argue that's an extremely poor body of work. I don't think that O'Toole is a savior or anything but I would take any uptick in bettering the country over no improvement and nobody happy. Chances are very good the CPC will do far less long term damage to the country so even if they don't work out we can punt them after a term and possibly by then the Liberals would would find competent leadership as they need a swift kick in the ass here. Canada deserves a much, much better than Justin Trudeau's Liberal party.

[TheIronMaiden]

What are the odds the Macerick party wins a seat?

[Locke]

Originally Posted by TheIronMaiden

What are the odds the Macerick party wins a seat?

Pretty low. The Maverick party too.

[gasman]

Originally Posted by Slava

At this point, the cumulative limit for the TFSA is $75,500 though. While there are a few that are anywhere near $1m, I'd guess that we're talking the extreme minority of accounts at this point. So sure, it's tax-free, but for current retirees they likely aren't just living from their TFSA. Next generation of retirees? that might be a different story.

Oh, yeah, talking million dollar TFSA, I was thinking 20-30 years in the future, when I am gearing up for retirement.

Wouldn't it be awesome to have a million in a TFSA today?

[TorqueDog]

Originally Posted by TheIronMaiden

What are the odds the Macerick party wins a seat?

The riding the party leader lives in doesn't even have a candidate running, so I'm going to say "bugger all". At this point, they're competing for votes with the People's Party of Canada and the Christian Heritage Party.

Originally Posted by gasman

Oh, yeah, talking million dollar TFSA, I was thinking 20-30 years in the future, when I am gearing up for retirement.

Wouldn't it be awesome to have a million in a TFSA today?

Only way to get a million into a TFSA is to trade WallStreetBets style, and if you trade too much you can get in deep sh-te with CRA.

[Looch City]

I would instantly vote CPC if O'Toole came out and criticized UCP and Kenney. Or maybe just Kenney himself.

#### I'd even donate to them.

Would it ever happen??

[CaptainCrunch]

The list of registered fringe parties


https://www.elections.ca/content.asp...t=index&lang=e

[Table 5]

Originally Posted by TorqueDog

Only way to get a million into a TFSA is to trade WallStreetBets style, and if you trade too much you can get in deep sh-te with CRA.

I don't get why they have these nanny controls in regard to investing within the TFSA. It's not a retirement account, it's a general savings account that you can use for anything. We all have different levels of risk, let us manage our money how we see fit. If some people are talented enough to grow it faster, great.. more money for them to put back into the economy at some point.

Never mind that nobody even knows what the trading limit actually is. There's some magical invisible line, that the government won't give you any information on... but, boy you better not cross it!

[combustiblefuel]

Tough year to decide. I use to always vote NDP as it is my party . Since moving here its always been a 3 way fight between ndp,green and cpc. This year is no different. I could never vote CPC . This year it's a 30% cpc/28% Ndp/28% Green split so far. People 8n this riding don't care about federal or to an extent provincial party platforms they really only care about who will be best for this riding only. They'd vote for a full out Communist if he gave everybody what they wanted .

I will most likely vote NDP as years before but if the greens are closer to I may have to suck I up and vote green. I do like the greens for their environmental stuff . I just don't think the have any clue on the financial side of there agendas.

[Fire]

Originally Posted by TorqueDog

The riding the party leader lives in doesn't even have a candidate running, so I'm going to say "bugger all". At this point, they're competing for votes with the People's Party of Canada and the Christian Heritage Party.Only way to get a million into a TFSA is to trade WallStreetBets style, and if you trade too much you can get in deep sh-te with CRA.

If you are starting putting the max amount in your TFSA in your 20's you can reasonably get to a million dollars. https://financialpost.com/personal-f...or-millennials

[edslunch]

Originally Posted by CorsiHockeyLeague

Who are the people talking about Pierre Trudeau in a non-historical sense though? I haven't heard people talking about how the current LPC is going to enact similar policies or "take us back to the PET years" or whatever, which is what the LPC do with Harper all the time.

It may be ‘historical’ but for many people hatred for the Liberals starts and might as well end with the NEP.

[edslunch]

Originally Posted by Fire

If you are starting putting the max amount in your TFSA in your 20's you can reasonably get to a million dollars. https://financialpost.com/personal-f...or-millennials

But a million dollars in 40-year future dollars won’t make you rich. Even today being a millionaire isn’t that special.

[Weitz]

Originally Posted by edslunch

But a million dollars in 40-year future dollars won’t make you rich. Even today being a millionaire isn’t that special.

By some ridiculous metric I guess not?

For the average person though?

[combustiblefuel]

Originally Posted by Table 5

I don't get why they have these nanny controls in regard to investing within the TFSA. It's not a retirement account, it's a general savings account that you can use for anything. We all have different levels of risk, let us manage our money how we see fit. If some people are talented enough to grow it faster, great.. more money for them to put back into the economy at some point.

Never mind that nobody even knows what the trading limit actually is. There's some magical invisible line, that the government won't give you any information on... but, boy you better not cross it!

Well that's a myth. Most that money gets saved and never spent. You don't get rich by spending money.

[Table 5]

Originally Posted by combustiblefuel

Well that's a myth. Most that money gets saved and never spent. You don't get rich by spending money.

Well I don't know how things work in your household, but for us, the more cushion we have in our savings, the more likely we are to make discretionary purchases we wouldn't otherwise. Of course a big chunk stays in savings or gets re-invested, but in general, I don't spend money I don't have. Allowing me to grow my TFSA as I see fit increases the percentage of that discretionary spend.

Besides, even if you don't spend your earnings, that's the whole point of the program. It's there to grow Canadians savings, so they can be more comfortable and self reliant.

[undercoverbrother]

Originally Posted by Hemi-Cuda

Why anyone would vote for an MP that doesn't even live in the province let alone the country is beyond me,

sorry where does she live?

[Fuzz]

Originally Posted by undercoverbrother

sorry where does she live?

https://nationalpost.com/news/politi...anada-from-u-s


She spends a bunch of time in Oklahoma, where her husband lives. Probably easier to get on Fox news that way.

[undercoverbrother]

Originally Posted by Fuzz

https://nationalpost.com/news/politi...anada-from-u-s


She spends a bunch of time in Oklahoma, where her husband lives. Probably easier to get on Fox news that way.

Thank #### I am not in her riding.

I actually don't mind O'Toole, but Rempel and that ####stick Pierre Poilievre drive me crazy.

[undercoverbrother]

Originally Posted by TheIronMaiden

What are the odds the Macerick party wins a seat?

You mean The Bloc West.

#### I hope not.

I know two individuals running for them.

One I work with and #### me......