Investing
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...
Money
Coronavirus is hurting small businesses. Here’s how to help – National
Small businesses are feeling the effects of the novel coronavirus outbreak. Half of small businesses reported a drop in sales due to COVID-19, a recent survey by the Canadian Federation of Independent Business (CFIB) found. What’s more, a quarter said...
Money
Coronavirus: Canada’s big banks to allow mortgage payment deferrals – National
Canada’s big six banks will allow mortgage payment deferrals for up to six months as part of extraordinary measures to help customers struggling with the financial impacts of the novel coronavirus pandemic. In a tweet on Wednesday morning, Neil Parmenter,...
Money
Is financial independence and retiring early really possible for most people?
Personal finance bloggers and writers have been getting all “fired up” in recent months about the FIRE acronym, which stands for Financial Independence Retire Early. We wrote about the similar concept of Work Optional earlier this year, here. Typically, FIRE...
Investing
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...
Investing
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...
Investing
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...
Investing
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...
Investing
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...
Investing
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...
Latest News
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....
Money
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...
Money
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...
Money
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...
Money
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...