The best RRSPs in Canada for 2024 + MORE Nov 13th

What if your money could not only grow but also change the world? Welcome to impact investing. More than just a buzz term, impact investing empowers you to put your hard-earned money where your mouth is and drive the change you want to see—all while boosting your bank account. 

This investment strategy aims to deliver financial returns while championing the social and environmental issues you care about—and also ensure your money doesn’t support what goes against your beliefs. 

Impact investing offers a refreshing sense of agency at a time when huge global challenges—climate change and housing affordability, to name just two—seem insurmountable. Not surprisingly, impact investing especially resonates with Gen Z and Millennials, who have inherited these and other problems that were decades in the making. 

In this column, I’ll break down how to identify profitable and impactful investing opportunities, along with common pitfalls to avoid. You’ll also learn practical steps to kick-start your impact investment journey, and I’ll share resources that can help you align your financial choices with your values…

Efforts to streamline operations have helped Suncor Energy Inc. hit its debt target, triggering a commitment to pay out 100% of excess funds to shareholders.

The oil and gas giant has been working to make efficiency improvements across its sprawling network as it shifts focus to incremental gains over pricey expansion projects.

The efforts yielded upstream production of 829,000 barrels per day to mark its best third quarter ever, its highest ever refining throughput of 488,000 barrels per day and highest ever refined sales at 612,000 barrels per day.

“This is now back to back to back quarterly records,” said chief executive Rich Kruger on an earnings call Wednesday.

Also read

Canada’s best dividend stocks

read now

Suncor’s investment plans take shape

Suncor’s efforts to ease bottlenecks and cost improvements include everything from new maintenance techniques to its shift to bigger, autonomous trucks…

Why should you open a registered retirement savings plan (RRSP)? This account type is often described as “tax-advantaged,” meaning it offers a tax-efficient way for savers and investors to build wealth for the future, usually for retirement. To maximize its potential, it helps to know the differences between an RRSP and other kinds of registered accounts, like the tax-free savings account (TFSA) and first home savings account (FHSA). Plus, not all RRSPs are built the same—you’ll want to compare the saving and/or investing options they offer, as well as their interest rates and fees. Here’s everything you need to know to set yourself up for RRSP success.

How to choose an RRSP

Before diving into our picks for the best RRSPs, think about how you want to use the account: saving or investing. Some RRSPs serve as high-interest savings account (HISAs), offering a better rate of return on your savings than a regular savings account. Some allow you to hold guaranteed investment certificates (GICs)…

Shopify Inc. executives brushed off concerns that incoming U.S. president Donald Trump will be a major detriment to many of the company’s merchants. 

“There’s nothing in what we’ve heard from Trump, nor would there have been anything from [Democratic candidate] Kamala [Harris], which we think impacts the overall state of new business formation and entrepreneurship,” Shopify’s chief financial officer Jeff Hoffmeister told analysts on a call Tuesday. 

“We still feel really good about all the merchants out there, all the entrepreneurs that want to start new businesses and that’s obviously not going to change with the administration.”

Trump’s proposed tariffs creating uncertainty for companies

Hoffmeister’s comments come a week after Trump, a Republican businessman, trounced Harris in an election that will soon return him to the Oval Office.

On the campaign trail, he threatened to impose tariffs of 60% on imports from China and roughly 10% to 20% on goods from all other countries…

Find out your current registered retirement savings plan (RRSP) contribution limit by using this calculator.

RRSP contribution rules highlights

Your RRSP contribution limit is based on the maximum annual RRSP contribution room set by the Canadian government, the earned income you had during the previous tax year, and any unused contribution room from previous years.

Overcontributing to your RRSP by more than $2,000 can result in a penalty of 1% per month on excess funds left in the account.

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, just before the annual deadline, while others prefer to contribute regularly through automatic deposits. Whichever option you choose, be aware that there’s a limit to how much you can contribute to your RRSP in any given year. The RRSP contribution room calculator above will get you the numbers you need, but keep reading for more information on RRSP contribution limits…