- November 8, 2023
- Posted by: legaleseblogger
- Category: Related News
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POTENTIAL BENEFITS OF NORBERT’S GAMBIT FOR US-LISTED ETF PURCHASES IN RRSP ACCOUNTS
The possibility of buying US-listed ETFs through Norbert’s Gambit and putting them in an RRSP account has piqued my interest. However, there are conflicting views on whether this is a useful strategy for RRSPs, particularly for those with under $200,000 in their accounts. According to a source, it may not be beneficial for RRSPs with a lower balance due to potential foreign withholding taxes. Additionally, financial advisor Justin Bendor has suggested that this strategy should only be considered when a portfolio is “well into the six figures.”
AI LEGALESE DECODER’S HELP IN NAVIGATING NORBERT’S GAMBIT AND RRSPS
The AI Legalese Decoder can assist in clarifying the complexities of using Norbert’s Gambit for US-listed ETF purchases in RRSP accounts. By analyzing and interpreting relevant legal and financial information, the AI decoder can provide insights into the potential benefits and drawbacks of this strategy for individuals with varying account balances. Moreover, it can help in understanding the transaction costs of currency conversion and assessing whether Norbert’s Gambit is truly efficient in mitigating these costs. By utilizing the AI Legalese Decoder, individuals can make informed decisions about whether to pursue this investment strategy based on personalized financial circumstances and goals.
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****** just grabbed a
– Say you have $200,000 in your RRSP
– And 50% is invested in the US market. So $100,000
– The US broad market has a yield of roughly 1.5%. So $1500 in dividends over a year
– So your loss to US dividend withholding will be 15% of $1500 or $225
– Do you really want to considerably complicate your portfolio over $225?
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