How to survive a recession: Six tips for Gen Z and those who haven’t faced one before + MORE Jan 16th

There are more investment options in Canada than you can shake a stick at! Stay on top of the best returns right here.
Latest News
 mutual funds

Janet Gray advice-only Financial Planner + MORE Mar 20th

Meet Janet Gray Janet Gray is an advice-only Certified Financial Planner, speaker and educator with over 20 years of experience. She’s been featured in countless Canadian news publications as a financial expert, and she even won “Financial Services Person of the Year” twice. Janet specializ.... More »

‘I Was Worried About How I’d Connect With My Coworkers’: Young Employees Are Struggling to Adapt to the Office Jul 19th

When Lizzie*, a computer sciences student at the University of Waterloo, started her co-op placement at a financial institution in September 2022, she fretted over going into the office; it was her first time in the professional setting—ever. Her first few years of university were online due to th.... More »

5 things to know before the stock market opens Tuesday - CNBC Jan 30th

5 things to know before the stock market opens Tuesday  CNBCFutures struggle for direction ahead of key jobs data, big tech earnings  Yahoo Canada FinanceStock Market Today: Dow, S&P Live Updates for January 30  BloombergApple Lags as Microsoft Sales Hit Highs: US E.... More »
 TSE

Making sense of the markets this week: May 28, 2023 + MORE May 26th

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors. Hitting our head on the U.S. debt ceiling By far, the dominant force influencing markets this week was the completely illogical far.... More »
 TSX

The best low-interest credit cards in Canada for 2023 Sep 9th

Spend The best low-interest credit cards in Canada for 2023 Searching for the perfect credit card? In under 60 seconds, CardFinder narrows down your top matches without impacting your credit score, no SIN required. Find my perfect card* .... More »
As we begin 2023, young adults face a looming recession—and it remains to be seen whether it will be a mild or moderate one. What does an economic downturn mean for Gen Z? What should those just entering their careers, moving out on their own and aspiring for more financial independence do right now?

I graduated in the midst of the 2009 recession, and I remember how challenging it was to find a full-time job. With my networking skills, I was able to land a full-time role in the hospitality industry. Although I didn’t have much invested in the stock market in my early 20s, I still anxiously wondered if and when my portfolio would rebound. Plus, with so many layoffs happening around me, I felt I needed to work even harder to keep my new job. 

Here’s what I learned living through that recession. I hope these lessons help you prepare and protect yourself to weather the storm ahead.

1. Contribute to your rainy day fund

Unexpected events can happen anytime: Your car breaks down…

Continue Reading On moneysense.ca »

Capital gains tax applies to money you make by selling assets that have appreciated, such as stocks, mutual funds and rental properties. Here’s how capital gains tax works in Canada, and how you could reduce what you owe.

Video: How to minimize capital gains

function request_ad(e,t){t(e)}!function(e,t,n,o,i,u){e._Rumble=o,e[o]||(e[o]=function(){(e[o]._=e[o]._||[]).push(arguments),1==e[o]._.length&&(i=t.createElement(n),u=t.getElementsByTagName(n)[0],i.async=1,i.src=”https://rumble.com/embedJS/ulkdw1″+(arguments[1].video?”.”+arguments[1].video:””)+”/?url=”+encodeURIComponent(location.href)+”&args=”+encodeURIComponent(JSON.stringify([].slice.apply(arguments))),u.parentNode.insertBefore(i,u))})}(window,document,”script”,”Rumble”),function(){var e,t,n=”v22hb5i”,o=”videoplayer-v22hb5i”,u=(document.getElementById(o),[]),c={},l=function(){c={},u=[],e.clearAds(),a(0,[“https://pubads.g.doubleclick.net/gampad/ads?iu=/57452754/Rumble_Video&description_url=http%3A%2F%2Fmoneysense…

Continue Reading On moneysense.ca »

Putting money into a registered retirement savings plan (RRSP) is one of the best ways to save for retirement. Some people choose to contribute a lump sum to their RRSP at the beginning of the year (or right ahead of the tax-filing deadline), while others prefer to contribute regularly through automatic withdrawals or deposits. Whichever option you choose, be aware that there’s a limit to how much you can add to your RRSP in any given year. The RRSP contribution room calculator above will get you the numbers you need, but keep reading for a better understanding of RRSPs.

What’s an RRSP?

A registered retirement savings plan, or an RRSP, is a savings account that you open at a bank or other financial institution. It is registered by the federal government of Canada for tax savings, and you can contribute to the account up to an annual maximum amount. 

Compare the best RRSPs in Canada
Read now

What’s special about RRSPs?

Contributions to RRSPs are deductible, meaning they can be used to reduce your taxes…

Continue Reading On moneysense.ca »

Share

PinIt
Compare insurance quotes through Kanetix.ca - save time and money!