How to protect your crypto from hacks + MORE Oct 28th
The best low-interest credit cards in Canada for 2023 Sep 9th
Should you hold on to unused RRSP contributions? + MORE Dec 4th
SVB collapse: Could bank failures happen in Canada? - CTV News + MORE Mar 15th
Canada’s best instant approval credit cards for 2023 + MORE Jun 2nd
How to create a DIY investing strategy
– moneysense.ca
Regulators worry that without professional advice, investors with limited knowledge and information may lose money. You don’t need a degree in finance to be a successful investor, but it helps to have a carefully considered strategy. The key is common sense: Know your investing goals, be realistic about your risk tolerance, consider your time horizon and base your decisions on thorough research.
Let’s take a closer look at these four factors.
1. Set your investment goals
What are you saving up for—a short-term goal like home renovations or a wedding? Or a long-term goal like retirement or funding your child’s education? Your financial goals can help determine what investments you choose and which account types to use…
Making sense of the markets this week: January 16
– moneysense.ca
Growth vs the Fed: the battle of 2022
This year’s battle for the markets is shaping up. In one corner we have ongoing economic growth. In the other corner we have the Fed.
Let’s get ready to ruuuuuuummmmbbbbllllle!!!
When I made sense of 2021, we looked at commentary from LPL research that framed the growth prospects for 2022.
“An expanding economy is a great start, but stocks fundamentally derive their value from earnings. On the top line, the environment for companies to grow revenue next year should be excellent, with potential for above-average economic growth and some pricing power from elevated inflation. Revenue growth has historically been well correlated to nominal GDP growth, which is simply real GDP growth (the inflation-adjusted number that’s normally reported) plus inflation. Our 4% to 4.5% real GDP growth forecast for next year plus perhaps 3% inflation (about the consensus forecast for the increase in the Consumer Price Index) puts a 7% revenue increase in play…
What’s my RRSP contribution limit for 2021?
– moneysense.ca
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.
What’s special about RRSPs?
Contributions to RRSPs are deductible, meaning they can be used to reduce your taxes. Any income you earn in the RRSP is usually exempt from tax as long as the funds remain in the plan; you generally have to pay tax when you withdraw money from the account…