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Gold/Mining/Energy : TAXES, TAXATION, TAX and Canadian stocks
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To: Kayaker who wrote (246)11/2/2000 11:53:57 PM
From: Michael Dean  Read Replies (1) of 548
 
Yup .. it is a big hit so I have been spreading it out a bit each year .. but better to take the hit - say 45% or so next year and then pay only 23% (or maybe less in a year or two) on all future gains, than wait and pay 45% on it all.

I take it out in small chunks .. say $5k or at most $15K per month so withholding taxes aren't as bad. Would make a natural way to dollar cost average into some mutual funds (sector funds to delay capital gains would be a good idea if you are so inclined). I'm more of a stock picker.

Actually tax deferral benefit of RRSP really only starts to be significant after 20 or so years. Real benefit is that refund is at marginal rate when you put it in and taxed at average rate when withdrawn (if you have little other income) so I have decided try to build up portfolio outside so that I can buy all my toys with cash before I retire .. retirement home on the lake, boat, last new car, etc. then live on minimal amount.

Will continue to actively manage my money for as long as I need to or want to.

Everyone's situation is different .. goals, obligations, risk tolerance.

Best of luck to us, I figure we've got about 10 years .. then some of the boomers may start cashing in their investments and markets could start to go down. I could be wrong because of Globalization and other factors (Boomers are primarily a North American phenomenon - so many killed in Europe and Japan that I don't think the bulge is there like it is here.)
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