All about Canadian investments. Learn the ins and outs and get the latest news.
Latest News
Is a vacation home a good investment? Sep 20th
The benefits of owning a vacation property are obvious. A cottage, cabin, condo or trailer a short drive from your home can provide a quick weekend recharge. A property down south can serve as a regular vacation destination or a winter home for a snowbird.
Sometimes, emotions are the motivat.... More »
Visa vs. Mastercard: What are the differences (and do they really matter)? Jun 18th
A frequent question we hear at MoneySense is: Which is better—Visa or Mastercard? When looking for a credit card, there are all sorts of things to consider. What is the interest rate? Can you collect rewards points or get cash back for making purchases? Is there a bonus for signing up, and what ar.... More »
The best cash back credit cards in Canada for 2024 + MORE Sep 27th
Cash back credit cards are an extremely popular type of rewards card in Canada. Each cash back credit card has its own features and benefits, so you’ll want to compare the annual fee, earn rate and any additional benefits before you apply.
Credit card comparison tool
Compare your options wit.... More »
Dow leads stocks up after GDP data as banks rally: Stock market news today - Yahoo Canada Finance Jun 29th
Dow leads stocks up after GDP data as banks rally: Stock market news today Yahoo Canada FinanceStocks Climb Before the Open as Investors Await Key U.S. GDP Data, Nike Earnings on Tap BarchartNASDAQ 100, Dow Jones, S&P 500: Edging Lower as Investors Await Powell’s Insights.... More »
Nvidia by the numbers: $5 trillion market cap and soaring stock Nov 21st
Nvidia reported more eye-catching numbers for its fiscal third quarter Wednesday, with net income jumping 65% and revenue increasing 62% from a year earlier. Last month, Nvidia became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Vall.... More »
How to protect family RESPs from being raided
– moneysense.ca
Q. I am a grandparent providing funds for a family RESP. It is for twin grandsons—my son is the father. I have a bit of a concern their mother may decide to withdraw the funds I provided for her own purposes. Is there a mechanism whereby both parents have to sign off if the contributed funds were to be withdrawn and not used for the children’s education?
–Morley
A. Hi, Morley. Contributing to a RESP is a fantastic way to help both your grandsons and your son. Having just helped two children through university myself, I often suggest that you’re going to pay anyway, so why not start a RESP and collect some government grant money along the way?
Your concern about your grandchildren’s mother walking off with the money is, I hope, a very low risk, but one that I know is real. Fortunately, there are a couple of easy solutions that should put your mind at ease.
The key to the solution revolves around the subscriber. Is the subscriber of the family RESP:
–Morley
A. Hi, Morley. Contributing to a RESP is a fantastic way to help both your grandsons and your son. Having just helped two children through university myself, I often suggest that you’re going to pay anyway, so why not start a RESP and collect some government grant money along the way?
Your concern about your grandchildren’s mother walking off with the money is, I hope, a very low risk, but one that I know is real. Fortunately, there are a couple of easy solutions that should put your mind at ease.
The key to the solution revolves around the subscriber. Is the subscriber of the family RESP:
Your son and the boys’ mother;
Only your son; or
You?
Let’s do a quick review of the term “subscriber” and the implications of different subscriber relationships…
