The “Big Five” Canadian banks offer investment funds and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Let’s explore the best place for you to invest.
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A parents’ guide to home down payment gifts and loans + MORE Aug 20th
It used to be that parents budgeted for post-secondary education or contributing to the costs of a child’s wedding. But now, I am increasingly finding parents planning for home down payment gifts.
The statistics support this and show an increase in down payment help in recent years. A CIBC stud.... More »
The best savings and investment accounts in Canada for 2024 + MORE May 1st
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The best savings and investment accounts in Canada for 2024
Here are the best accounts to hold your savings and investments.
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Scan the savings account comparison table above to view interest ra.... More »
Sobeys/FreshCo parent company, Empire reports earnings + MORE Sep 13th
Empire Co. Ltd. is planning for sunnier economic times on the horizon, as the parent company of Sobeys says it’s continuing to see the sales gap between its discount and full-service stores narrow.
The company’s growing FreshCo discount banner has been a “home run” for Empire, said pres.... More »
Variable mortgage rates regaining traction as Bank of Canada cuts rates + MORE Sep 5th
The decision by the Bank of Canada to cut its key interest rate target this week was good news for borrowers with variable-rate mortgages, bringing back some of the shine for the once popular loans.
The rate cut prompted big commercial banks to lower their prime rates, which are used to set the r.... More »
Surviving the present, investing in the future: Gen Z’s financial balancing act + MORE Sep 15th
For Canada’s Gen Z, money is a mix of anxiety and opportunity. They’re the nation’s youngest workers, navigating rising living costs, heavy debt loads, and uncertain job markets. Many hustle to make ends meet—taking on gig work, cutting back on spending, and finding creative ways to save—w.... More »
Don’t get stuck on financial advice that doesn’t ring true
– moneysense.ca
Finance tips and advice that worked decades ago aren’t always relevant in today’s day and age. Still, well-meaning friends and family often recycle the same information for younger generations—only for them to find out the hard way the advice might be inaccurate.
Financial experts say they encounter myths every day in their line of work. Popular examples are that home ownership is the only way to get rich or budgeting rules that are outdated.
The Canadian Press spoke with Jason Heath, an advice-only certified financial planner at Objective Financial Partners; Jessica Morgan, founder and CEO of blog site Canadianbudget.ca and Reni Odetoyinbo, founder of Reni, The Resource about misunderstanding or dated advice they hear from clients.
Here are a few.
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CPP won’t be there in the future
The Canada Pension Plan (CPP) tends to be a point of confusion, says Heath…
