The best Visa credit cards in Canada for 2024 + MORE Jul 29th

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

Canada’s economy news: Are we growing enough? + MORE Oct 31st

The Canadian economy was flat in August as high interest rates continued to weigh on consumers and businesses, while a preliminary estimate suggests it grew at an annualized rate of 1% in the third quarter. Statistics Canada’s gross domestic product report Thursday says growth in services-producin.... More »

Pakistani army chief visits Tehran in bid to broker renewed talks between US and Iran Apr 16th

CAIRO (AP) — Pakistan’s army chief is set to meet with Iranian officials in Tehran on Thursday in a bid to ease tensions in the Middle East and arrange a second round of negotiations between the United States and Iran….... More »

“Everything companies”: How Amazon’s playbook is reshaping competition in Canada + MORE Oct 28th

Canadian companies are nowhere near the size and scale of Amazon, but some of our most beloved brands now see themselves less as industry leaders and more as collections of varied financial assets. Consumers think of companies as offering goods and services, but this is not necessarily how companies.... More »

Helping your kids buy a home? Why a cash gift may be safer than co-signing Sep 6th

It’s not uncommon for parents to want to help their adult children enter the housing market. For some, that help comes in the form of co-signing for their child’s mortgage, but experts warn that means taking on financial risks they might not understand and could impact their own debt and.... More »

Cogeco targets low-data users with new Canadian mobile service + MORE Jul 16th

Cogeco Inc. has launched its long-awaited wireless service in Canada, saying it plans to compete with other carriers in the market by targeting “low-to-mid data users.” The Montreal-based telecommunications company said it has already signed up an initial cohort of customers on the new mobile se.... More »

What happens when you can’t manage your investments anymore?

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Ask MoneySense
I have been managing my accounts myself so far. I am 84 years old.

Our kids suggested to give it to a financial planner who has invested in mutual funds. They are going to charge at least $35,000 this year.

Is it advisable to withdraw from there and put in an ETF myself?

—Laasya

When should you stop managing your own investments?

It sounds like you are not quite ready to pass on the management of your investment accounts, Laasya. It may be easy for someone on the outside looking in to say it’s time for a change given your age. I can imagine how difficult it must be to hand over this responsibility if you are used to doing it on your own.

I try to picture 84-year-old me being told by my kids that it is time to hire a financial planner. I may not be so keen myself when the time comes. Maybe I should bookmark this column.

I took over the management of my mother’s finances toward the end of her life. She seemed reluctant, but she knew it was time. I think she still saw me as her little boy even though thousands of clients and readers looked to me for advice that she was hesitant to take…

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The best high-interest savings accounts in Canada for 2024

– moneysense.ca

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The best high-interest savings accounts in Canada for 2024
Here are the accounts offering the highest interest rates and lowest fees.

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MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings from over 12 major institutions, including banks, credit unions and card issuers. Learn more about our advertising and trusted partners.

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What happens if you delist your condo?

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This past June, RBC reported that home resales had plummeted in many of Canada’s largest markets. Compared to June 2023, resales were down in Calgary (-13%), Toronto (-16%), Vancouver (-19%) and British Columbia’s Fraser Valley (-32%). While market conditions vary from city to city, the largest markets have been among the hardest hit. For example, according to the Toronto Regional Real Estate Board, June 2024 saw the lowest number of home sales in the GTA in 24 years. The inventory of condominiums for sale in particular is rising fast.

This is good news for aspiring condo buyers, who now have larger inventories to choose from. But it’s trouble for those trying to sell their condo, who may have to either significantly reduce their asking price or, in a worst-case scenario, delist their property until the sellers’ market becomes more favourable.

Growing numbers of condo owners are choosing the latter option. But what sort of consequences may they face for that decision?

You’re 2 minutes away from getting the best mortgage rates in CanadaAnswer a few quick questions to get a personalized rate quote*I’m buying a homeI’m renewing/refinancingYou will be leaving MoneySense…

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