# Spousal RSP transfers



## marina628

My husband has $125,000 more than me in RSP .These funds have been there for many years.Should he transfer some of his in my plan so we have same amount when we retire?My Retirement plans combined is only $30,000 where he has $155,000.


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## OhGreatGuru

marina628 said:


> My husband has $125,000 more than me in RSP .These funds have been there for many years.Should he transfer some of his in my plan so we have same amount when we retire?My Retirement plans combined is only $30,000 where he has $155,000.


The question is moot. You can't do it. See http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/rrsp-reer/cntrbtng/spsl-eng.html

"_For example, you cannot transfer funds in your RRSP to a spousal or common-law partner RRSP._"

For future contributions he should consider contributing to a Spousal RRSP. But the need for doing so is less than it used to be since the government brought in Pension Splitting. RRIF payments after age 65 and RSP Annuity payments after age 65 qualify for pension splitting.


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## marina628

thanks this is the info that we needed?


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## Brian Weatherdon CFP

*Sharing spousal RRSP back to spouse*

Hi Marina, sorry you cannot move one person's RRSP (spousal or otherwise) to husband's or wife's RRSP. But at 65, spouses can plan their taxes to split the tax burden. As long as the federal govt continues to allow this, the after-tax result is what you wanted.


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## marina628

Yes thank you again.I find as I study more of this forum I have more questions lol.I did my first Gambit trade a couple days ago , I felt like i was robbing a bank lol.I felt stupid as I knew what i wanted to do but I am sure the guy at TDWH thought wtf is this lady doing .My husband says we will be rich or in Jail with me running our finances and tax things


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## Brian Weatherdon CFP

*your gambit*

Hi Marina, a study of DIY (do it yourself) investing in the 1990s showed in the U.S. that while raw markets paid 17%/yr that decade the average return for DIY was near 3.4%/yr. Further study in Taiwan showed 0.6% of DIY investors were able to add value - and others lost value. You might consider if the security of your life income could merit having a certified advisor. (DIY can still be for "fun money" and you increase your learning without putting nest egg at risk.

Cheers & best to you!
B


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## marina628

Brian ,
In 2008 my husband's financial advise managed to lose 42% of his portfolio.I managed my own and seen losses about 10%.Since I have been doing my husband's investing in last 17 months he has better returns,recovered his losses and in 2010 had 17% return from TD Canadian Equity Mutual funds ,TD Precious Metals and Real return bonds.My brother in law had similar experiences with a Investment Planing Counsel office.I am done paying fees to 'financial advisors' because of lack of success in past.
I am not a greedy person and happy to see a 5-8% return and know I can achieve this on my own or better.
At 9am this morning i was at the library getting some financial books ,I plan to read as much as I can and learn but also picked up a couple books for my husband to read


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## Brian Weatherdon CFP

*ready to learn *

Hi Marina,

Awesome, whether you use an advisor or do it on your own, I congratulate your willingness to learn. Many in 2008 had 11% to 35% losses in equity portfolios. _(I realize some fared worse, even >60% losses but I'm not talking of those because they had invested in things that no longer exist). _

2009 and 2010 have generally recouped and portfolios are healthy once again.

I admire your aim to learn. With or without an advisor...this helps you ensure more agreeable results in downward and up-bound markets. Cheers to you!

Brian


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## humble_pie

dear mister brian weatherdon cfp

i for one do not feel you should troll for clients on this forum.

i also question that old saw about the client playing with his "fun money" by investing on his own, meanwhile placing his serious investments in the hands of a paid advisor.

imho the situation should be reversed. Serious investments - large-cap stable companies with strong dividend histories, proven etfs, even certain bonds & debentures - are easy to find. They are easy to research. We see strong examples every day in this forum of newcomers who are buying books, reading articles & websites, contemplating very seriously and at depth how they intend to build their life savings & investment accounts. What i see is that most of these parties are moving steadily in the right direction.

on the other hand the paid advisor, in a proper structured splitting of assets, should be the one who is retained strictly to provide insight into specialty, foreign or small-cap situations. This is where his or her education & experience should be giving him a superior perspective. This is where it might be worthwhile to pay his fees.

but in reality what do we see ? We see the paid advisors going for the "serious" investments because these are going to be the quick, easy, profitable no-brainers to manage. Meanwhile, the poor client is turned loose to forage with his "fun money" by himself among speculative securities.

this is an exploitative arrangement that grossly favours the paid advisor with easy work while abandoning the client precisely where he, the client, could benefit from advice. I find it surprising that in the year 2011 any paid advisor would still try to promote this arrangement.


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## Brian Weatherdon CFP

*value of learning . . .*

Hi HP I appreciate what you're saying: many good points! Marina and others are learning how to be significantly self-managed (along with maybe 2% of population, but you already knew that). The more people learn, the better and safer they'll be (and then use an actual advisor, only as needed). I'm all for it, and that's why I contribute - and you too! Thanks truly,
B


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## marina628

Ironically I came here to learn and get advise so I never have to use an adviser again .My husband had no choice as he was 1/4 of a business and his partners wanted to use a 'financial planner'.
When they jointly moved nearly 1 million dollars in October they learned about 25% of it was practically being used as a slush fund for their IPC agent.They had to wait 45 days to get it out to TD Bank. 
When I got my $xxx,xxx settlement from my car accident in 2007 I spoke to an adviser and I had a feeling that I may as well throw a pile of money in the garbage can and set it on fire.I felt the guy was 'slippery' sales guy and I never bothered since then.
I deal with BMO and TD Bank for now and very comfortable with my decisions.I have noticed most here are DIY ,my parents have used Scotiabank all their life and they have an Adviser there and very happy with him but my parents also didn't own a computer until 2 years ago and not really investor savvy.


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## humble_pie

hey mister weatherdon i wouldn't mind so much if you would retire that overblown handle & maybe go by something working-class like brian or brian_weather.

then on your home page you could put your website & full name.
even the cpl.

we have one poster who does all this very gracefully. Like you, he's a knowledgeable expert so his posts are a real plus for the forum & a benefit for many. His member name is a simple lower-cased nickname with a couple of digits. He posts without links or advertising. On his home page, though, he indicates what products & services he is selling, and he provides contact information. Now that's class.


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