What’s more important: your wealth or your legacy? + MORE Nov 12th

Here’s a round-up of news for Canadian investors this week.

Air Canada

Fortis

Thomson Reuters

Suncor

Cameco

Maple Leaf Foods

Sun Life Financial

Cineplex

Corus Entertainment

Xanadu Quantum Technologies

Featured RRSP Accounts

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EQ Bank

Build your retirement savings with 1.50% interest, tax-deferred contributions and zero fees.

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Registered GIC rate

Earn a guaranteed 2.75% in your RRSP when you lock in for 1 year.

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Best RRSP rates

See our ranking of the best RRSP accounts and rates available in Canada.

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MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999…

Ask MoneySense
My dad is 77 years old and we live together in a house worth $840,000, which we own together. Dad retired at age 70 and commuted his pension so he would have money to leave to me. He has about $580,000 divided between a LIF and a RRIF and his CPP is $17,000 and OAS $9,500. He lives on his CPP, OAS, and minimum LIF and RRIF withdrawals. He doesn’t have a TFSA and I have read that it makes sense to draw extra from registered accounts and add it to TFSAs. Should he be doing that?

—Alex

Hi Alex. It is good you are asking this question because you want to be a little careful with what you read. You see a lot of smart-sounding strategies but they can produce different outcomes for different people. If your dad’s goal is to build wealth, then he is probably best not to draw from his registered retirement income fund (RRIF) and add to a tax-free savings account (TFSA). However, with a goal to leave a larger estate to you, it probably is the right strategy. 

Let’s dig into this by first understanding what will happen if your dad continues doing what he is doing and he doesn’t add money to his TFSA…

The original version of The Wealthy Barber was released in 1989, and has since become one of the best-selling books of all-time in Canada with over 2 million copies sold. Its cultural impact rivals that of Canadian literary classics like Margaret Atwood’s The Handmaid’s Tale and L.M. Montgomery’s Anne of Green Gables.

Personal finance books rarely capture mass appeal, but author David Chilton managed it through the relatable, conversational lessons from the wealthy Mr. White to mild-mannered Roy in his Sarnia barber shop. The sequel, The Wealthy Barber Returns, took a different approach in its 2011 release. Instead of his original characters, Chilton doled out advice by sharing his personal perspectives on money. 

Timeless money lessons, reimagined for a new generation

The updated 2025 version of The Wealthy Barber was released on November 4 exclusively in Indigo stores and independent bookshops across the country. It has been completely re-written to include new realities of Canadian wealth building, like the Home Buyer’s Plan, tax-free savings accounts (TFSAs), and first home savings accounts (FHSAs)…

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.

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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 experts in Canada. To help you find the best financial products, we compare the offerings of major institutions, including banks, credit unions and card issuers. Learn more about our advertising and trusted partners.

Best high-interest savings account rates in Canada

Generally, savings accounts offer very low interest rates. So, if you want to earn on your deposits (rather than simply using your account as a temporary “holding tank” or directing to longer-term saving and investing vehicles), a savings account with a high interest rate is a no-brainer…