Is this frugal Toronto artist’s $70,000 in savings enough for her to buy a property in the U.S.? + MORE Jul 3rd

Ask MoneySense What is the implication of transferring money from my RRIF to TFSA on my income and taxes? Do I need to allow for a 30% deduction when I withdraw and it becomes income to be taxed at the end of the year? Or it doesn’t affect my income? —Soheir Transfers between registered a.... More »

Tax-free savings accounts (TFSAs) are more than a simple tax-sheltered savings account. TFSAs allow Canadians to hold cash, guaranteed investment certificates (GICs), stocks, bonds, exchange-traded funds (ETFs) or mutual funds within a structure backed by the government. Any interest made during you.... More »

It’s the financial news story that everyone is talking about: The Canadian-to-U.S.-dollar exchange rate has been very unfavourable for the loonie lately. How unfavourable? Since the beginning of the year, the Canadian dollar’s trading value has fluctuated between roughly USD$0.69 and $0.70—.... More »

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. Advertisement Why trust us MoneySense is an.... More »

If you’re approaching or planning for retirement, you may have questions about Old Age Security (OAS) benefits, like: Do I need to apply for OAS? How much will I receive in OAS? When do OAS payments go out? We cover these questions and more below. But first, here’s a quick overview of how OAS wo.... More »