Canadian snowbirds in flux as insurance firms deny them COVID coverage — but there is a solution + MORE Jul 14th

How to go about securing the best policy for your insurance in Canada.
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Collision insurance: How it all works + MORE Dec 13th

Collision insurance is “extra.” It’s optional coverage that you can add on top of your basic full auto insurance, which, on its own, doesn’t cover you if you’re in an accident and you’re at fault. Many drivers opt in for collision, mainly because of the variable Canadian weather, road co.... More »
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Canada’s best credit cards 2020 + MORE Nov 27th

Finding the right credit card could save you hundreds, if not thousands, of dollars a year. Whether you’re looking for lower fees, more rewards or simply valuable perks like travel medical insurance or rental car savings, every dollar counts. If you use your credit card wisely, pay off your balanc.... More »

Where to find and apply for COVID-19 financial relief Aug 23rd

The COVID-19 outbreak has dealt a shock to our economy, shuttering entire industries and leaving many more businesses in limbo, forcing layoffs and loss of income on many people. Fortunately, the Canadian government and several other institutions are offering financial relief for Canadians during th.... More »
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Is a personal injury settlement taxable, and can it impact OAS or GIS benefits? + MORE Aug 19th

Q. I received a small settlement for an Ontario car accident, which my lawyer says is non-taxable, and so noT4A will be issued. If I deposit the funds into a bank account, will this one-time settlement clawback my OAS and GIS benefits? –J  A. I’m sorry to hear about your accident, J. Hopefully .... More »

What does a fee-only financial planner do, exactly? Sep 16th

Q. How do you make money, Jason, if you don’t sell any products? –Rob A. Your question is a good one that I get a lot, Rob—even from people in the industry. So let me explain.  Something that I like to reinforce frequently is that I do not sell any financial products. I feel this is an import.... More »
The robos are everywhere. What was once a little-known investing tool for tech-savvy investors is now commonplace, with everyone from newbie savers to retired boomers using robo-advisors to help manage their money.  
While advisors and traditional fund companies still manage the majority of money in Canada, with people paying more attention to fees and with interest in exchange-traded funds (ETFs) increasing, robo-advisors will only see their assets under management rise from here. According to the research aggregator Statista, Canadian robos will hold an estimated US$8.1 billion in assets under management in 2020, which, it predicts, will rise to US$16.6 billion by 2023, for a 26.7% compound annual growth rate.
As time goes on, these companies are also getting more sophisticated in their offerings. Some robos now offer chequing accounts, others let you pick stocks or buy insurance or offer real-life financial advice. You can invest in all kinds of accounts too, including Tax-Free Savings Accounts (TFSAs), Registered Retirement Savings Plan (RRSPs), Registered Retirement Income Fund (RRIFs), Registered Education Savings Plans (RESPs) and more…

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Canadian snowbirds in flux as insurance firms deny them COVID coverage — but there is a solutionCanadian insurers are refusing to provide travel health insurance to snowbirds hoping to travel south this winter. However, some U.S. insurers are willing to step in.

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