The “Big Five” Canadian banks offer investment funds and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Let’s explore the best place for you to invest.
Latest News
TFSA confusion: The myths that just won’t die Jun 25th
After 15 years of conversations with blog readers and financial planning clients, I’m still amazed at how often the same myths about tax-free savings accounts (TFSAs) pop up.
I’ve had clients ask if a dividend paid inside their TFSA counts as a contribution. Others think they lose contribut.... More »
The best 5-year fixed mortgage rates in Canada May 22nd
Mortgage rate comparison tool
Customize the filters to compare rate types and terms.
powered by
Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance .... More »
Morning Bid: Nvidia vigil sees risk overcome safety - Reuters Nov 20th
Morning Bid: Nvidia vigil sees risk overcome safety ReutersNvidia Stock Earnings Preview: What To Know Before The Report ForbesDow Jones Futures Rise Ahead Of Nvidia Earnings, Jensen Huang; Target Plunges On Earnings Investor's Business DailyStocks Rise With Focus on.... More »
Adam Chapman financial advisor Aug 9th
Meet Adam Chapman
Adam Chapman jokes that he’s a financial planner who helps people spend money—not save it. And, thanks to his love for afternoon tea, Chapman has worked with people from generations older than him for nearly 20 years. No matter how much wealth his clients have achieved befor.... More »
Stock market news for investors: Metro profits rise, Groupe Dynamite to close some Canadian stores Apr 17th
Here’s a round-up of news for Canadian investors this week.
Metro Inc
Groupe Dynamite
Featured RRSP Accounts
featured
EQ Bank
Build your retirement savings with 2.00% interest, ta.... More »
6 things to consider before borrowing from the Bank of Mom and Dad for your first home
– moneysense.ca
As homes remain unaffordable to many Canadians, more and more young adults are turning to the Bank of Mom and Dad to help with a down payment or with mortgage payments. A recent CIBC survey showed that 31% of first-time home buyers in Canada received financial help from their parents or a relative, with the average gift being $115,000. While mom and dad’s money can certainly boost your down payment, borrowing from family does come with some financial and relationship considerations.
Before locking into a familial loan, both parties must assess whether they are on the same page and are in a position to take on this type of agreement—along with knowing the power and relationship dynamics that could come with it. Here are six key considerations when borrowing from the Bank of Mom and Dad for your first home.
The complete guide for first-time home buyers
Read now
1. Is it a gift or is it a loan?
Determine if the financial help you’re discussing with your family is a gift or a loan…
