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Krista Kim’s dream home didn’t exist, so she built it herself—in the metaverse. In 2020, cooped up with her two kids in a Toronto condo during the Covid lockdown, the digital artist began designing her perfect escape, leaving no detail overlooked. She sketched out a glassed-walled bungalow vil.... More »
The best TFSAs in Canada for 2021 Sep 20th
As the name suggests, tax-free savings accounts (TFSAs) offer a tax break on contributions—meaning that, unlike with a regular savings account or non-registered investment account, what you earn inside your TFSA isn’t taxed, even when you make a withdrawal. TFSAs are flexible, too, allowing you .... More »
The best GIC rates in Canada for 2026 Jun 1st
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
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Do I need to retire my debt, before I retire myself?
– moneysense.ca
Q: So, I’m retiring (single male 65) with $850,000 total in RRSPs and a DCP where I currently work.
I have no debt. I owe $50,000 on a $500,000 home. I pay $730/month. Mortgage is due May 2019. Penalty would be minimal. Should I pay it out in 2018, my first year ‘unemployed’? What are my options?
—Art
A: Retiring debt-free should be a goal for Canadians in their 50s and 60s, but it’s not always possible. And it’s not always bad to retire with debt either. I think yours is a good case study, Art, to illustrate this concept.
With a mortgage that is only 10% of your home value and a net worth of $1.3 million, a $50,000 mortgage doesn’t seem like much, but I understand your dilemma. You’d like to get rid of it and you have this money sitting in your RRSP and your employer defined contribution (DC) pension plan that you could use.
Ask a Planner: Leave your question for Jason Heath »
The problem is, to pay off $50,000 of mortgage debt, you would likely need to take a withdrawal of $65,000 from your investments to be left with $50,000 pre-tax…
Long Island Iced Tea Corp. says it is changing its name to Long Blockchain Corp., as it wants to focus more on blockchain technology – a move that sent the company’s stock surging.
Morneau admits communication over contentious tax changes could’ve been clearer
– canadianbusiness.com
OTTAWA _ Bill Morneau is staying put as finance minister _ but he admits he’s closing out his tumultuous year with some regrets.
Morneau enters the holiday season after being battered for months by controversy over a highly contentious tax-reform plan, stinging ethical questions over how he arranged his personal assets upon entering cabinet and conflict-of-interest allegations.
Looking back, he said in an interview that, perhaps, he could have done more to avoid at least some of the flak linked to his proposed tax changes for small businesses.
“Obviously, I don’t have the ability to change how we did things,” Morneau told The Canadian Press, referring to a suite of tax proposals he later scaled back in response to waves of angry complaints from entrepreneurs, doctors, tax specialists and fellow Liberal MPs.
“Reflecting on how we communicated the tax changes, my sense is that there’s two things that we could have done differently… We could have articulated more clearly for Canadians how these changes were going to advantage the overall economy and Canadian families,” he said…
Morneau enters the holiday season after being battered for months by controversy over a highly contentious tax-reform plan, stinging ethical questions over how he arranged his personal assets upon entering cabinet and conflict-of-interest allegations.
Looking back, he said in an interview that, perhaps, he could have done more to avoid at least some of the flak linked to his proposed tax changes for small businesses.
“Obviously, I don’t have the ability to change how we did things,” Morneau told The Canadian Press, referring to a suite of tax proposals he later scaled back in response to waves of angry complaints from entrepreneurs, doctors, tax specialists and fellow Liberal MPs.
“Reflecting on how we communicated the tax changes, my sense is that there’s two things that we could have done differently… We could have articulated more clearly for Canadians how these changes were going to advantage the overall economy and Canadian families,” he said…
Assessing the risks of cryptocurrency investing as warnings grow louder
– canadianbusiness.com
CALGARY _ The growing frenzy around bitcoin and other cryptocurrency offerings has prompted warnings from a range of financial heavyweights on the risks that current and potential investors should keep in mind.
Bank of Canada governor Stephen Poloz sounded the alarm last week, saying that buying into the trend is “closer to gambling than investing”, while Canada’s securities regulators association issued a special warning on Monday about the high level of risk associated with digital currency-linked products.
Top of mind for many is the question of just how big a bubble bitcoin is in. Virtually worthless in early 2009, the cryptocurrency hit US$1,000 by early 2017 and then soared to its current price of just under US$17,000, a 12-month gain of more than 1,900 per cent.
The disruptive potential of bitcoin and its underlying blockchain technology is only helping fuel the speculation and could lead it to go higher still, said BMO Financial Group chief economist Doug Porter…
Bank of Canada governor Stephen Poloz sounded the alarm last week, saying that buying into the trend is “closer to gambling than investing”, while Canada’s securities regulators association issued a special warning on Monday about the high level of risk associated with digital currency-linked products.
Top of mind for many is the question of just how big a bubble bitcoin is in. Virtually worthless in early 2009, the cryptocurrency hit US$1,000 by early 2017 and then soared to its current price of just under US$17,000, a 12-month gain of more than 1,900 per cent.
The disruptive potential of bitcoin and its underlying blockchain technology is only helping fuel the speculation and could lead it to go higher still, said BMO Financial Group chief economist Doug Porter…
The growing frenzy around bitcoin and other cryptocurrency offerings has prompted warnings from a range of financial heavyweights on the risks that current and potential investors should keep in mind.
