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How to adjust your RESP investing strategy as your child grows Sep 3rd
A registered education savings plan (RESP) might seem like a set-it-and-forget-it account since it’s so easy to open and there’s a clear end in sight, but you’ll want to optimize your investments as your child grows. Accounts for younger children can handle more risk, while accounts that are c.... More »
Your American spouse may not want to inherit your TFSA Jun 2nd
Most Canadians assume leaving a tax-free savings account (TFSA) to a spouse is one of the simplest estate-planning decisions they can make. But when that spouse is a U.S. citizen, green card holder, or otherwise subject to U.S. tax filing requirements, inheriting a TFSA can create years of IRS repor.... More »
What the data isn’t showing about credit stress + MORE Apr 15th
The broad picture of household finances indicates that Canadians are generally managing through the upheavals of tariffs, a soft job market, inflation, and other headwinds, but looking deeper shows pockets of severe credit challenges.
The recent difficulties at Goeasy Ltd. give a hint of those .... More »
The best GIC rates in Canada for 2026 Jun 1st
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The best high-interest savings accounts in Canada for 2026 + MORE Mar 9th
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Old-school financial advice that no longer applies
– moneysense.ca
Buying a starter home, living on one income and staying in the same job for 40 years—life was very different for older generations and many young people have realized what worked for their parents doesn’t necessarily work in today’s modern world.
As younger Canadians continue to face high housing costs, slowing wage growth and other challenges, age-old financial adages have become outdated, forcing a rethink of what smart money management looks like today. Here are some common rules of thumb for money management that financial advisers say need re-examining.
Housing should only take up a third of your budget
“If you’re trying to stick to this rule, you can only afford to buy a home that’s $500,000, which is well below the average across the country, and it doesn’t go very far in most major cities,” said Jason Nicola, certified financial planner at Vancouver-based Nicola Wealth. He cites research that shows just how much things have changed from previous generations…
