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.
Latest News
Are your financial documents being forged? CBC's Marketplace consumer cheat sheet + MORE Jun 4th
Miss something this week? Here's the consumer news you need to know..... More »
Making sense of the markets this week: September 14 + MORE Sep 11th
Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.
Tesla snubbed by the S&P 500, and now it’s getting hit on all sides
What a difference a week can make.
In last week’s column, we discussed how Tesla’s valuation wa.... More »
Sears and Kmart remove some Trump products online + MORE Feb 13th
Sears and Kmart have evicted “a very small number” of Trump-branded items from their online stores, but won’t specify how many and emphasize that hundreds of products are still available through their third-party online marketplaces.
It’s another sign of how companies are try.... More »
Making the most of the pension tax credit Nov 28th
Ask MoneySense
I liked your coverage of RRIF taxation. I would like to see more information on LIF taxation. More precisely, on the following scenario: Individuals do not get the $2,000 tax credit for RRIF withdrawals before age 65. Did I read properly that for LIF withdrawals the $2,000 tax cr.... More »
'The not so golden years' — a quarter of retired Canadians in debt, survey suggests Feb 24th
A "worry-free retirement" may be a thing of the past, according to a new Sun Life Financial survey, which finds that a quarter of retired Canadians are in debt in their golden years..... More »
Loonie rises after five losing sessions, traders look to GDP data, Fed meeting – Vancouver Sun
– news.google.ca
Montreal GazetteLoonie rises after five losing sessions, traders look to GDP data, Fed meetingVancouver SunTORONTO – The Canadian dollar was higher Tuesday following a series of sharp declines as traders looked to see how the Canadian economy performed during November. The loonie was up 0.03 of a cent to 80.26 cents US following five, straight sessions …Toronto stock market drops 123 points, Canadian dollar risesTimes ColonistTSX drops on Greek concerns, copper pricesReuters CanadaToronto stock market heads lower amid declining commodities, earnings missesWinnipeg Free Pressall 125 news articles »
Did 65 million people get an iPhone 6 for Christmas?
– macleans.ca
Tech Week continues today, with Apple and Yahoo! releasing their quarterly earnings, and the big question is how many iPhone 6s Apple just sold (the average estimate: 65 million). Tomorrow, Facebook reports its quarterly earnings, following a brief outage/outrage this morning that prompted panic among many a social media addict. There is also some turmoil in Russia today, as the Kremlin reacts to a credit downgrade to “junk” status.
What to watch for today: The U.S. Federal Treasury is meeting today and tomorrow, and will make its interest-policy announcement tomorrow. There’s no rate hike expected immediately, but, at the last meeting, just a word change—a pledge to be “patient” from Janet Yellen—pushed an extended market rally. There will also be numbers from the U.S. on durable goods and new home sales, giving insight into the health of the American housing market.
Rate cutting begins at Canada’s big banks. Last week, it looked as though a rate cut by the Bank of Canada hadn’t had an immediate impact on mortgage rates for average borrowers…
4.5 year – 2.50%
– ratesupermarket.ca
This GIC rate is offered by DUCA Financial Services and was updated on 2014-06-13. Click on the link above to get more details or apply online.
3.5 year – 2.30%
– ratesupermarket.ca
This GIC rate is offered by DUCA Financial Services and was updated on 2014-11-28. Click on the link above to get more details or apply online.
How to pay off the mortgage faster
– moneysense.ca
(Photograph by Jenna Wakani)The current situation
Mukesh Aggarwal, 52, and his wife Shabnam, 47, immigrated to Mississauga, Ont., nine years ago with their two sons. Together, the two pull in $175,000 annually, and both receive average annual pay increases of 5%. But despite such lucrative employment, they’re feeling weighed down by the $615,000 mortgage remaining on their home. “We want to retire debt-free,” says Mukesh, noting that their 2.3% mortgage rate expires next July.
Recently, the couple increased their weekly mortgage payment to $700 but feel that won’t be enough. Their goal is to pay off the mortgage in 13 years, before Mukesh turns 65. They are considering putting half of their 5% average annual wage increase towards the mortgage but also want to look at other options. In 2016, their youngest son will complete university, and that will free up $7,500 annually for the mortgage. Although Mukesh stopped contributing to his RRSP, Shabnam still puts $4,800 annually into her TFSA and both pay into their company’s pensions…
