3.3 C
Toronto
6.6 C
Vancouver
-2.1 C
Montreal
1.3 C
Calgary

Should you consider an RRSP loan?

Q. My bank is currently offering an RRSP loan for $15,000. According to their calculator, I would receive a rebate of $6,750 for that contribution. If I spread the loan over 5 years, I pay $275 a month and...

Is the coronavirus ravaging your investment portfolio? Here’s what you need to know

As the coronavirus continues its global spread, Canadians are worried not only about their health but also about their retirement plans. Many people's hard-earned investment portfolios have already taken a beating as stock markets plummeted this week over concerns of the virus's impact...

Financial Goals: Setting Short to Long-Term Goals

As singer/songwriter Joe Jackson succinctly put it: you can’t get what you want, till you know what you want. It’s the same with your personal finances. How can you accomplish your short-, medium- and long-term financial goals if you...

What’s my RRSP contribution limit? Here’s the max for this year

If you’re like many Canadians, you’re hoping you’ve paid enough tax in 2019 and may even be looking forward to a hefty tax refund. You can help ensure that happens by knowing the details of your Registered Retirement Savings...

Using life insurance to leave your kids an inheritance

Q. My wife and I are both 57 years old. I have a business in Ontario, from which I earn $260,000 a year, and my wife makes $40,000 at her job. We have maxed out our RRSP contributions and...

Saving vs Investing: Finding the Perfect Balance

There’s a big difference between saving money vs. investing money. When you squirrel away cash for an emergency fund or to fund a short-term goal like a vacation or a designer purse – that’s savings. Investing is about playing...

How to prepare for a recession

But part of the reason we’re all so on edge now is because of what’s often thought to be a harbinger of recession: the yield curve inverted last year, for the first time since 2007. What is an inverted yield...

Learn About Exchange Traded Funds (ETF)

Most Canadians are very familiar with mutual funds. In simple terms, a mutual fund is made up of a collection of individual stocks, bonds or other securities carefully chosen by a fund manager, with the goal of generating returns...

How Do I Maximize RESP Withdrawals?

With my oldest child turning 11 this year, my mindset and strategy for our family RESP is starting to shift from accumulation and growth to a more balanced portfolio. This has many similarities to retirement planning but on a smaller...

Canada’s Best Dividend Growth Stocks for 2020

I originally started looking at the best Canadian dividend growth stocks back in 2013.  As one of the most popular annual articles on the site, I’m proud to enlarge the list this year to include my top 25 Canadian...
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The Best Investments in Canada

You want to protect your money’s future purchasing power, and the best way to do this is to invest....
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Canada’s economy was slowing even before COVID-19 hit, January GDP numbers show

Canada's economy expanded by 0.1 per cent in January as manufacturing and the financial sector grew while transportation, mining, oil and gas and the...

Where to find and apply for COVID-19 financial relief

Alberta and Saskatchewan offer payments for anyone who is unable to receive federal aid. Quebec has a province-run temporary aid program for those who are...

Did coronavirus cancel your travel plans? Here’s how to get your money back 

Whether it’s a trip you booked months ago, or a last-minute deal you snagged when news coverage of the coronavirus was still just a...

Oil price falls below $20 US a barrel, its lowest since 2002

The benchmark price for a barrel of North American oil dipped below $20 US on Monday morning, the first time that's happened in 18...