Applying for your first credit card? Here’s what you should know before getting one + MORE Feb 3rd

Learn more about Canada’s top banks rates, rules and the latest news – read on!

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6 times when a GIC is a smart investment choice + MORE Mar 10th

A guaranteed investment certificate (GIC) may seem like your grandfather’s kind of savings product. After all, his generation was fond of similar investment tools, like government savings bonds and treasury bills, and benefited from periods where interest rates were high enough to make these low-r.... More »

Is now the time for retirees to sell stocks and buy GICs? Mar 4th

My husband is retired and concerned that his money that is invested in his RRSP and TFSA is fluctuating too much. He is retired and is wondering if his funds should be in a GIC account as it’s paying 4% and not losing principal. He’s concerned in this volatile market.—Rodeen Are GICs a good.... More »

Fed, other central banks set joint liquidity operation - Reuters.com + MORE Mar 19th

Fed, other central banks set joint liquidity operation Reuters.comCoordinated Central Bank Action to Enhance the Provision of U.S. Dollar Liquidity Bank of CanadaFed and Five Central Banks Announce Move to Boost Dollar Funding Yahoo Canada FinanceFed, BoE, BoJ, ECB S.... More »

Who to name as executor when family members aren’t an option Feb 22nd

Ask MoneySense We are told to have a will, but what do you do if you have no family, or if you do, they reside overseas? To our surprise, we learned that the big Canadian banks offer executor and power of attorney (POA) services. It’s not well advertised on their websites. We have interviewe.... More »

Applying for your first credit card? Here’s what you should know before getting one

– moneysense.ca

The convenience of making purchases with your credit card comes with many advantages, like rewards, perks and a solid credit history. However, if used irresponsibly, this financial tool can lead to unmanageable debt and a low credit score. So, how can you be a responsible credit card owner? I will explain how credit cards work, what to look for in a credit card, and the proper way to handle one.

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Are ETFs a good investment for an all-weather portfolio?

– moneysense.ca

For retirees and near retirees, it can sometimes seem like there’s no such thing as a “safe” investment—especially now. Even bonds and bond funds, typically considered the safest of investments—suffered losses in 2022, as central banks hiked interest rates. Meanwhile, stocks look determined to retreat from the all-time highs they reached in the year following the short-lived initial COVID bear market.

It’s true short-term bank savings accounts and guaranteed investment certificates (GICs) seem relatively safe from both stock meltdowns and precipitous rises in interest rates, but now there’s the added scourge of rising inflation. Even if you can earn 5% annually on a GIC, if inflation is running at 6%, you’re actually losing 1% a year.

Are ETFs a good investment for an all-weather portfolio?

It’s tempting to throw your hands up and retreat to those much-praised asset allocation exchange traded funds (ETFs). You can use these types of investments to simulate the classic pension mix of 60% stocks to 40% bonds through Vanguard Canada’s VBAL or similar ETFs from rivals, including iShares’ XBAL and BMO’s ZBAL…

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