Ontario offers $100 million for upgrades to natural gas furnaces, water heaters + MORE Feb 4th

Companies that consistently raise payouts are highlighted in an S&P index

A customer uses an ATM at a Toronto-Dominion (TD) Bank branch in downtown Vancouver, British Columbia, Canada, on Thursday, May 28, 2015. (Ben Nelms/Bloomberg/Getty Images)
The questions never change in economics, goes the old adage about the dismal science. But the answers often do.
Just a few years ago, economists were certain that interest rates could never fall lower than zero. Last week, however, Japan’s central bank announced the interest rate on bank reserves will drop to -0.1 per cent. The European Central Bank’s rate has been in negative territory since 2014; Switzerland, Sweden and Denmark a few years before that. Today nearly a third of the world’s GDP lies in negative-interest-rate territory. It’s become such a common policy prescription that even the Bank of Canada is prepared to consider it. We no longer know how low interest rates can go. So what does it mean to live below zero?
A central bank typically pays interest on the official deposits it requires from financial institutions…

Focus on fees
Erin Richard wonders if she’s better off buying mutual funds through the bank or a robo-advisor. For her, it’s a question of deciding between access to better service versus lower-cost funds.
Shortly after Erin Richard’s boyfriend got down on one knee and popped the big question last November, the public relations professional and her fiancé wisely had a frank discussion about money. But it wasn’t the typical talk that most twenty-somethings have, which usually revolves around whether or not to open a joint account, or how much one partner spends versus the other. Instead, the Toronto couple debated where they want to put their retirement savings: with a bank, or with one of Canada’s recently launched robo-advisors. The new automated digital advice services allow you to build a low-fee exchange-traded fund (ETF) portfolio, based on your risk tolerance and time horizon, through your computer screen.
At the moment, Erin, 29, has about $25,000 worth of GICs in an RRSP at her bank…

Priority planning
Kori and Tyler Wachniak are dealing with a lot of financial changes these days—including the cost of raising little Carter. Should they focus on their mortgage or RRSPs?
Financial planning is complicated enough as it is, but it may be the most confusing for people in their 30s. This is the age where life brings about a lot of rapid changes—marriage, home ownership, children—and it’s hard enough to pay for all these sizable expenses, let alone save money for retirement. Take Kori and Tyler Wachniak, 30 and 32, respectively, who are just entering this new phase of their lives and are already feeling overwhelmed.
Last February, the Winnipeg-based couple had their first child, Carter, shortly after purchasing their first home the year before. Up until recently, the Wachniaks had fancied themselves fairly good savers. Kori, a pharmacist, has about $43,000 put away—$12,000 in RRSPs and the rest split between two work-related pension accounts. Meanwhile, Tyler, a pilot, has about $60,000 in an RRSP and $60,000 in a TFSA…

TORONTO – Ontario is promising a $100 million rebate program to help homeowners upgrade their furnaces, water heaters and insulation, but there are no details on a start date, eligibility rules or amounts.
The goal is to reduce greenhouse gas emissions, and at the same time help create jobs and lower homeowners’ natural gas bills.
Environment and Climate Change Minister Glen Murray says 37,000 customers of Enbridge Gas and Union Gas will be able to have home energy audits to identify energy-saving options.
Once the audit is done, the homeowners will be able to get some financial help — how much is still unknown — to buy a new furnace, water heater or insulation.
About 62 per cent of Ontario homes use natural gas for heating, compared with about 28 per cent for electricity and just three per cent for oil.
Murray says every dollar spent on energy efficiency retrofits can save natural gas customers $1.50 to $4.
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