Not sure how to make a savings plan? Read on…
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Video: How to find the best online account + MORE Feb 13th
The best online bank account for you is one that’s suited to your unique needs. Here’s how to determine what those personal banking are and how to find an account that’s the perfect fit.
Watch: How to find the best online bank account.
More on banking:
How fintech—and neobanks i.... More »
In Your Corner: Interest rates are near an all-time low — where can you get the best return on your savings? + MORE May 1st
These are the best high-interest (well, relatively high) savings accounts out there right now..... More »
The best high-interest savings accounts in Canada for 2025 Jul 9th
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Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.
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“My financial advisor overcontributed to my TFSA—now what?” Oct 24th
My financial advisor asked me for more money than the allowable contribution room of my TFSA, causing a CRA penalty. I did tell him that I could only contribute the $6,000, but he asked me for $28,500. I paid a fine of $2,000 to CRA.
What happens now? Do I ask him to repay the commissions he.... More »
The best high-interest savings accounts in Canada for 2024 Sep 17th
Savings comparison tool
Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.
Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate mo.... More »
With no debt, his goal now is to buy a home and put the rest of his savings into stocks for retirement. But with his girlfriend’s work in Toronto, where should he buy and what can he achieve?House rich: How to access the equity in your home
– moneysense.ca
With the national average home price up a record 18.5% in August 2020 compared to the same time last year, more Canadians than ever have a significant portion of their wealth tied up in their homes.
Who are these “house rich” homeowners? They range widely—from retirees on a fixed income, to baby boomers who’d like to help their adult kids financially, to young parents struggling to save due to the high cost of living and childcare.
Many are now looking at ways to access the equity in their homes. These include refinancing their traditional mortgage, obtaining a home equity line of credit (HELOC) or getting a reverse mortgage. But how can you determine which option is best for you? To help you decide, we’ve outlined four common scenarios of house-rich homeowners, and how—or if—they should go about tapping into the equity in their properties.
Scenario 1: Pensioners who need to increase cash flow
While lucky enough to have company pensions, these retirees underestimated their post-work cash-flow needs…
Who are these “house rich” homeowners? They range widely—from retirees on a fixed income, to baby boomers who’d like to help their adult kids financially, to young parents struggling to save due to the high cost of living and childcare.
Many are now looking at ways to access the equity in their homes. These include refinancing their traditional mortgage, obtaining a home equity line of credit (HELOC) or getting a reverse mortgage. But how can you determine which option is best for you? To help you decide, we’ve outlined four common scenarios of house-rich homeowners, and how—or if—they should go about tapping into the equity in their properties.
Scenario 1: Pensioners who need to increase cash flow
While lucky enough to have company pensions, these retirees underestimated their post-work cash-flow needs…
With no debt, his goal now is to buy a home and put the rest of his savings into stocks for retirement. But with his girlfriend’s work in Toronto, where should he buy and what can he achieve?The MoneySense Guide to Personal Income Tax
– moneysense.ca
The post The MoneySense Guide to Personal Income Tax appeared first on MoneySense.
