Gordon Pape’s mailbag: RESP suggestions, GAAP confusion, meme stock madness and other investing concerns

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Gordon Pape’s mailbag: RESP suggestions, GAAP confusion, meme stock madness and other investing concerns
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It’s time to answer more reader questions

) would all be suitable. You could also use equity mutual funds or ETFs, but I prefer direct stock ownership.

Non-GAAP refers to financial measures that are not prepared in accordance with GAAP. These are often used by companies to supplement their GAAP financial statements to provide additional information to investors and analysts. Non-GAAP measures can include metrics such as adjusted earnings, EBITDA , and free cash flow. Non-GAAP measures can exclude certain expenses or revenues that a company deems to be non-recurring or not representative of its ongoing operations.

The advisor may be compensated in one of several ways. These include salary and commissions. Or, if you have a fee-based account, a small percentage of your total assets is paid annually for the advisor’s services. Ask the advisor how he/she is compensated and what the cost would be to you. You need to look closely at your investment activities and decide which approach is most cost-effective in your case. – G.P.Q - My husband and I both have investment accounts in RRIFs and LIFs. We are wondering what happens when one of us dies. Do the accounts just get transferred to the living person? Or are they collapsed, with the proceeds taxed as income and then transferred to the surviving spouse? – Kathie S.

Avoid naming the estate as the beneficiary. That would trigger a collapse of the RRIF at death and the assets would be taxable. – G.P.Q - In a recent article, there were reference to meme stocks. I don’t have a clue what that term means. What is a meme stock? – Jane R.

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