BREAKING: Ontario Car Insurance Rates Decrease + MORE Oct 18th

How to go about securing the best policy for your insurance in Canada.
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Future of Car Insurance: How the PC Win Will Affect Rates in Ontario Jun 20th

Now that the election is over, it’s unclear how newly-appointed Premier Doug Ford will tackle rising auto insurance rates in Ontario. Over the course of the 2018 provincial elections, both the Liberal and NDP party touched on plans to tackle rising auto insurance rates in Ontario – a hot topic .... More »

What’s your RRSP contribution limit? Feb 19th

If you’re like many Canadians, you’re hoping you’ve paid enough tax for 2017 and may even be looking forward to a hefty tax refund cheque. You can help ensure that happens by knowing the details of your Registered Retirement Savings Plan (RRSP), what sets them apart, you.... More »
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Export Development Canada to pay $969M dividend to federal government + MORE Apr 5th

OTTAWA _ Export Development Canada is paying a $969-million dividend to the federal government this year. The payment compares with a dividend of $786 million the agency paid last year and $500 million paid in 2016. EDC generates revenue primarily from interest on loans, fees on its guarantee produc.... More »
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On tax reform, Donald Trump gets it done—and takes a moment to gloat Dec 21st

U.S. President Donald Trump, flanked by Republican lawmakers, celebrates Congress passing the Tax Cuts and Jobs Act on the South Lawn of the White House on Dec. 20, 2017 in Washington, DC. (Photo by Chip Somodevilla/Getty Images) You can’t spell “triumph” without T-R-U-M-P, and so here was the.... More »

Want life insurance? You may want to track your fitness, says John Hancock Sep 20th

John Hancock, one of the oldest and largest North American life insurers, will stop underwriting traditional life insurance and instead sell only interactive policies that include optional fitness tracking through tools including wearable devices and smartphones, the company said on .... More »
Is it safe to have $600,000 in savings invested in GICs?
Q. I live in Manitoba and have about $600,000 invested in GICs at a local credit union. I am 63 years old, retired with a pension, no debt and no mortgage. However, I still worry about this money and it has been hard for me to find an unbiased view on its safety. Can you help?
—Glenda W.
A. I think you can relax, Glenda. Your money is safe. Credit unions in your province have the Deposit Guarantee Corporation of Manitoba which provides unlimited guarantee of all deposits. GIC’s are covered, but not stocks or mutual funds. If you were with a Canadian bank, your deposits would be covered by CDIC insurance, which protects accounts up to $100,000.
Your investment personality is risk-averse, which is totally fine. But there is one risk that you may not be factoring into your assessment: Inflation risk. Prices for food, gas and almost everything else are on the rise, but your GIC probably isn’t earning much to account for that.
RELATED: The safe, unloved, amazing GIC
You are in the enviable position of no debt, no mortgage and a pension, mitigating your risk significantly…

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TORONTO — Canada’s banking regulator has published the final changes to its guidelines for residential mortgage underwriting, including a financial stress test for buyers who don’t need mortgage insurance.
The Office of the Superintendent of Financial Institutions said Tuesday the changes will come into force by Jan. 1, 2018.
READ: Should you use RRSPs to pay down the mortgage?
Even homebuyers who don’t require mortgage insurance because they have a down payment of 20 per cent or more will have to prove they can continue to make payments if interest rates rise.
Other changes include restrictions on co-lending, or bundled mortgages, aimed at ensuring financial institutions do not circumvent rules that limit how much they can lend.
The final guidelines are generally similar to what OSFI had proposed in July, when the regulator put out a draft for public consultation.
The proposed changes, however, have been criticized for including potentially increasing costs and limiting access to mortgages for some home buyers…

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BREAKING: Ontario Car Insurance Rates Decrease
Here at, 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 decreased by 0.1 per cent on average.
Car insurance rates fluctuate based on a number of different factors. However, before an insurance company can change rates, it must first be approved by the Financial Services Commission of Ontario (a regulatory agency of the Ministry of Finance).
FSCO publishes approved rate changes quarterly, and the latest results are in:
In the third quarter of 2017, approved rates from auto insurance companies decreased by 0.1 per cent on average – not a huge increase, but notable.
The range of approved rates seemed to be significant, with some companies lowering their rates by as much as 8.9 per cent, and another inflating its rates by 5.9 per cent on average.
“Ontario has a very competitive marketplace,” FSCO said in its quarterly statement…

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Am I entitled to my half-brother’s estate?
Q: My half-brother has no will. He has a step-sister. Am I entitled to my half-brother’s estate? We have the same father out of wedlock.
– John
A: You say your half-brother has no will, but you did not mention if he is still alive. If he has passed without a will, his estate is considered intestate. Intestacy means that his estate is distributed by government estate distribution rules. These rules specify who controls and shares in his estate.
You must refer to the particular intestate rules where your brother resided. This determines the intestacy rules that apply. You may be able to find them online. Depending on the statutory rules you likely have a right to inherit. You have a closer legal relationship than a stepsister.
Bear in mind that an intestate estate may not include designated or jointly owned assets with rights of survivorship. Your brother could have designated his step-sister as a beneficiary of his life insurance or investments. He may own jointly owned property with his stepsister…

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