The best high-interest savings accounts in Canada for 2024 + MORE Dec 10th
Should I use retirement savings to pay off credit card debt? + MORE Jun 11th
Scotiabank Gold American Express Card review + MORE Jan 14th
Stock news for investors: Iamgold expands, Teck advances merger talks, and Wealthsimple hits $100B milestone + MORE Oct 29th
Late filers: Get your back taxes sorted before year-end + MORE Dec 10th
What is a non-registered account and how does it work?
– moneysense.ca
You could consider opening a non-registered account if you’ve reached the contribution limits of your registered accounts, like your registered retirement savings plan (RRSP) and tax-free savings account (TFSA). Unlike a registered account, a non-registered account doesn’t offer tax benefits, but it allows you to invest with fewer limits. And there’s a non-registered savings or investment account to suit every need—from the humble savings account to the supercharged margin account. Here’s everything you need to know about registered versus non-registered accounts.
What is a non-registered account?
A non-registered account is a savings or investment account that allows you to invest as much money as you want but does not provide any of the tax advantages of a registered account. For example, with a non-registered account, you don’t get the tax-free growth of TFSAs, nor the tax deductions and tax-deferred growth of RRSPs. Still, non-registered accounts are flexible—you can save or invest as much as you want, whenever you want, in a wide range of financial instruments, depending on the type of account you open…
Making sense of the markets this week: March 3, 2024
– moneysense.ca
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors. And Stephanie Griffiths was an award-winning investor for almost 20 years before returning to her roots in journalism. She is a consulting editor and journalist for MoneySense.
Bank earnings strong despite hikes in provisions
This week, Canada’s Big Five banks (six with National Bank) reported earnings for the three months ending January 31, 2023. All six reported significant increases in provisions for credit losses (PCLs), as homeowners and other borrowers struggled with inflation and the impact of higher interest rates. (Provisions for credit losses represent a bank’s estimate of loans at risk of defaulting. PCLs reduce the bank’s earnings.)
Canadian bank earnings highlights
Here’s how Canadian banks performed in the three months ending January 31, 2024.
Bank of Montreal (BMO/TSX): Adjusted earnings per share of $2…
