COVID-19: Your Money Questions Answered
The spreading coronavirus has changed our daily lives as we know them. Grocery runs are meticulously planned events. We host family dinners on video calls. Those fortunate enough...
COVID-19 & Your Finances: What Canada’s Economic Relief Means for You
COVID-19 is having a significant and sudden impact on our economy, leaving many Canadians unable to work or struggling with lost income. In response, the government has enacted...
How Much Should I Contribute to My RRSP?
Figuring out how much to contribute to your RRSP is important. Do it right, and you maximize your tax savings now, while setting yourself up for a good...
RRSP vs. TFSA: Which is right for me?
Which is better—a TFSA, or an RRSP? That’s kind of like asking, “Which is better—a t-shirt, or a sweater?" Fundamentally, they do the same thing—t-shirts and sweaters both...
TFSA cheat sheet. 8 things you need to know
One of the simplest ways to save some money on the side is by opening a Tax-Free Savings Account (TFSA). To help you make sense of it, here...
What is an RRSP and how does it work?
Maybe you can’t drive stick shift. Maybe you don’t know the name of your local representative. Or maybe you’re still unclear on what, exactly, gluten actually is. We all...
When’s the RRSP Contribution Deadline? Key Dates you Need to Know
The 2020 RRSP deadline is fast approaching! This is the time of year when Canadians tend to rush and contribute a little extra in order to unlock a...
Financial Tools to Use for the Coming RRSP Contribution Season
You want to make more informed decisions this RRSP season. What if you could run some of the numbers with a financial calculator and inform yourself with a...
Should I borrow to invest in an RRSP? It’s not the smart-money thing to do
Every year around RRSP contribution season, this question seems to pop up: should you borrow to invest in an RRSP? The idea can look good on paper when...
Here’s what every couple should know about managing their money
Wedding season is here and as couples across the country celebrate their love with friends and family, we wanted to offer Canada’s newlyweds a gift of our own:...
Take Money Out of an RRSP? Sometimes it is the Smart Move
Is it ever a good idea to take money out of an RRSP before you retire? Most of the time, that’s a big no-no. It does happen, though,...
How to protect your money from the tax man when you die
Canada doesn’t have a “death tax” (estate tax). Still, there are taxes that can be triggered upon your death. The Canada Revenue Agency will want their cut of...
How are my investments taxed?
How can we pay less tax? Well, it matters whether we’re talking about interest, capital gains or dividends. When you get your annual tax forms from the bank,...
Financial Independence, Retire Early. How to Set Your Life Savings on FIRE
Wouldn’t it be nice to retire a lot earlier? For a growing number of us, Financial Independence, Retire Early (FIRE) is the name of the game. Retiring early...
How to use a TFSA to get better investing results
Interested in putting money into your Tax-Free Savings Account (TFSA)? The new limit for 2019 will be $6,000. What if you've never invested in a TFSA before? In...
Get an RESP or Pay Down Debt?
You already know about the ABCs of an RESP. It’s there to help fund your children’s education, even as tuition keeps rising. After all, the average tuition cost for a Canadian university...
Here are the Top RESP Grants and Benefits
Many of our readers know that an RESP is a great way to save for your kids’ schooling. You put money in, up to a limit of $50,000. Even better, so does...
CPP Benefits. Should you Take it Sooner or Later?
One question that often comes up about CPP benefits is whether to take it earlier or later. If you Google this, you'll get different answers: some say take...
Optimize Your RRSP. Short Term vs Long Term Investment Strategies
By taking a long term investment strategy approach, you can optimize your investments better and ultimately have more money when you want it for your golden years. Why...
Rate of Return Part 2. How are investment returns calculated?
What’s the actual rate of return on your investments? Ever scanned over a prospectus or batch of investment documents and wondered about that? You’re not alone. We recently...
4 Tips to Protect Yourself From Investment Fraud
Fraud happens to other people... right? We don’t believe it can happen to us. We also believe fraud involves only involves things like identity theft to access credit....