How to go about securing the best policy for your insurance in Canada.
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How to fix bad credit history in Canada: 3 steps to boost your score + MORE Oct 3rd
In Canada, your credit score matters—a lot. A solid credit score is more than just a number. It opens doors to financial products, saves you money and improves opportunities for renting, car insurance and employment.
Negative marks to your credit score can happen because of different factors yo.... More »
A Year of Rate Hikes: Ontario Car Insurance Rates Have Increased Again Jan 15th
Here at RateSupermaket.ca, we keep you in the loop of different ways to save, whether it be on your mortgage, through investments, or on your car insurance. The Financial Services Commission of Ontario (FSCO) has reported that Ontario car insurance rates have increased by 3.35 per cent on average..... More »
Averting the Disability-Insurance Meltdown + MORE Feb 23rd
The out-of-control $150 billion program is in urgent need of reform..... More »
Egan: Bank tells senior who got stuck in Antarctica he's too old for credit card's travel insurance + MORE Jun 3rd
Robin Farquhar has one of those wonderful-sounding travel credit cards, ScotiaGold Passport Visa, that comes with six types of insurance coverage — everything from burglary to lost luggage to cancelled flights. As a longtime Bank of Nova Scotia customer, imagine his reaction, a year ago, .... More »
Aneurysms and Life Insurance Jul 22nd
People that have or had an aneurysm may still be able to get life insurance coverage. Availability of coverage depends on things like the size and stability of the aneurysm, as well as whether or not the aneurysm was successfully operated on. Read on for more details..... More »
Give the gift of MoneySense
– moneysense.ca
Order a 1-year subscription to Canada’s personal finance magazine for just $25 (8 issues). While you’re at it, get one for yourself too! Each addition subscription costs just $20. Subscribe now!
MoneySense helps readers make smarter investing, banking, insurance, shopping and real estate decisions for financial freedom, sooner. Save thousands of dollars every year by learning which investments have the lowest fees, how to pick winning stocks, how to slash your taxes and more. Every issue contains answers to common money questions as well as stories about real Canadians who have overcome financial obstacles. Columnists include author and TV personality Bruce Sellery, veteran personal finance journalist Jonathan Chevreau, ETF expert Dan Bortolotti, value stock picker Norman Rothery, tax expert Evelyn Jacks and retirement expert David Aston.
Give the gift of MoneySense. Order now! »
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Senior Home Buyers Are Fuelling the Market: CMHC
– ratesupermarket.ca
In addition to providing mortgage insurance for homeowners with less than 20 per cent for a down payment, one of the Canada Mortgage and Housing Corporation’s (CHMC) roles is to monitor and analyze the country’s housing stock. The federal agency recently released two reports, the 12th annual 2014 Canadian Housing Observer and the House Price Analysis and Assessment. Here’s a closer look at some of the key findings.
Senior Spenders Leading Growth
While much attention is paid to the first-time homebuyers market (including on this blog!), it turns out that the baby boomers still lead the way in housing in Canada. According to the CMHC, “Because the probability of owning a home rises as people get older…population aging helps account for the virtually uninterrupted increase in the homeownership rate in Canada over the past four decades.” In fact, the 60- to 64-year-old age bracket – the oldest of the boomers – had the highest ratio of homeownership in the period between 2006 and 2001…
How to invest a RRIF
– moneysense.ca
(JGI/Jamie Grill/Getty Images)Q: Can you suggest a preferably low cost RRIF portfolio for a 74-year-old woman in decent health in an amount of about $500,000?—Sharon
A: I think what you really should be considering is a good value Registered Retirement Income Fund (RRIF) portfolio as opposed to a low cost RRIF portfolio, Sharon.
A low cost RRIF portfolio is easy. You can put it all in GICs and pay no fees. Or you can take the RRIF to an insurance company and buy an annuity that will pay a monthly payment for the rest of your life, meaning no more investment fees. Though both options have virtually no direct cost, they have indirect costs because you’re committing to low, albeit guaranteed returns.
Investing in stocks has a cost. There are costs that are direct as well as indirect and you need to assess what you’re getting for the price.
You can keep your direct costs down by buying exchange-traded funds (ETFs) through a discount broker. Questrade, iTrade, Qtrade Investor and Virtual Brokers offer no fee ETF purchases (you pay commissions on sale)…
