Money

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...

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...

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,...

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...

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...

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...

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...

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...

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...

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...