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.
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The best store credit cards in Canada right now Oct 1st
Creatures of habit, rejoice! Your loyal shopping behaviours may just pay off, big time. If you shop regularly at certain retailers, using a store credit card can help you to earn discounts, free goods and exclusive perks by swiping or tapping for everyday purchases. Spending with a store credit card.... More »
Taxes changes, new RRSP rules: Here’s what to watch out for in 2020 - Global News Dec 31st
Taxes changes, new RRSP rules: Here’s what to watch out for in 2020 Global NewsAre 2020's tax changes 'significant' or 'a wash'? CBC.caLower taxes, new RRSP rules and a digital-news credit among changes coming in 2020 The Globe and MailView full coverage on Google .... More »
Making sense of the markets this week: January 7, 2024 + MORE Jan 5th
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
A look at 2024
Since we made this crystal ball thing look pretty easy last year with our 2023 markets forecast, we’re .... More »
ETFs that limit losses in an investment portfolio: are they for real? Apr 6th
Q. We would like to find a product that will offer good, solid downside protection. I purchased the Invesco S&P 500 Downside Hedged ETF (PHDG), but I’m not sure if just leaving it in our portfolio is a good idea. We have a small account and never use stop losses, so we need a good product.
—.... More »
How much you need to earn to afford a home in Vancouver and the GVA + MORE Jan 28th
The Canadian real estate market has been red-hot since the pandemic started in March 2020. Home prices have risen across the board, but they are especially high in Vancouver, Canada’s most expensive housing market.
If you’re looking to purchase a home in the Greater Vancouver Area (GVA), you .... More »
This article originally appeared at Better Dwelling.Canadian real estate sales just fell off a cliff. Canadian Real Estate Association (CREA) numbers show a decline of buyers in January. The decline is one of the largest in Canadian history. Some agents claim this is temporary, but it’s in line with the estimated declines we posted earlier.
Canadian real estate sales drop over 13 per cent
Canadian real estate sales made large declines. CREA reported 39,609 sales when seasonally adjusted for January. This a 13.8 per cent decline from December, and represents a 6.2 per cent decline compared to last year. Unadjusted, that number was just 24,931 sales. It’s normal for a monthly decline in January, but the size should be of concern. CREA noted this is the first time since 2015, that sales have fallen below the 10 year, monthly average.
Largest single month decline since October 2008
January’s monthly decline is one of the largest in the history of Canadian real estate. The decline of 13…
Canadian real estate sales just fell the most since 2008. Here’s why.
– canadianbusiness.com
This article originally appeared at Better Dwelling.Canadian real estate sales just fell off a cliff. Canadian Real Estate Association (CREA) numbers show a decline of buyers in January. The decline is one of the largest in Canadian history. Some agents claim this is temporary, but it’s in line with the estimated declines we posted earlier.
Canadian real estate sales drop over 13 per cent
Canadian real estate sales made large declines. CREA reported 39,609 sales when seasonally adjusted for January. This a 13.8 per cent decline from December, and represents a 6.2 per cent decline compared to last year. Unadjusted, that number was just 24,931 sales. It’s normal for a monthly decline in January, but the size should be of concern. CREA noted this is the first time since 2015, that sales have fallen below the 10 year, monthly average.
Largest single month decline since October 2008
January’s monthly decline is one of the largest in the history of Canadian real estate. The decline of 13…
Toronto stock index up, Wall Street mixed, as loonie moves lower
– canadianbusiness.com
TORONTO – Rising oil prices helped Canada’s main stock index move higher, capping off a week of strong gains for North American markets .
The Toronto Stock Exchange’s S&P/TSX composite index was up 44.98 points to 15,452.64, led by the influential energy sector.
South of the border, U.S. stocks finished mostly higher after a see-sawing day.
In New York, the Dow Jones industrial average was up 19.01 points to 25,219.38. The S&P 500 index added 1.02 points to 2,732.22 and the Nasdaq composite index was down 16.96 points to 7,239.47.
The past week has seen the TSX recover roughly a third of its losses and Wall Street more than half, following a series of wild swings in early February.
The Canadian dollar was trading at 79.75 cents US, down from Thursday’s average price of 79.96 cents US.
The April crude contract was up 38 cents to US$61.55 per barrel and the March natural gas contract was down two cents at US$2.56 per mmBTU.
The April gold contract was up 90 cents to US$1,356…
The Toronto Stock Exchange’s S&P/TSX composite index was up 44.98 points to 15,452.64, led by the influential energy sector.
South of the border, U.S. stocks finished mostly higher after a see-sawing day.
In New York, the Dow Jones industrial average was up 19.01 points to 25,219.38. The S&P 500 index added 1.02 points to 2,732.22 and the Nasdaq composite index was down 16.96 points to 7,239.47.
The past week has seen the TSX recover roughly a third of its losses and Wall Street more than half, following a series of wild swings in early February.
The Canadian dollar was trading at 79.75 cents US, down from Thursday’s average price of 79.96 cents US.
The April crude contract was up 38 cents to US$61.55 per barrel and the March natural gas contract was down two cents at US$2.56 per mmBTU.
The April gold contract was up 90 cents to US$1,356…
Why you have to split work pensions when you divorce
– moneysense.ca
Q: I am now negotiating a separation agreement with my spouse. I do not want to share my teacher’s pension. We have been married 34 years. During our entire marriage, I worked as a teacher, and I worked on the farm, mainly doing all the financial book-keeping and accounting. Along with that, I have managed our investments and provided him (my husband) with a good income. I was never paid for that. Does that give me a reason to decline to share my pension? He has left because he is an alcoholic. He will use it to continue drinking. He has plenty of money to live very well without my pension.
—Jeanne
A: Unfortunately, Jeanne, when you are negotiating a separation agreement for a long-term marriage, every asset grown during the marriage is up for grabs. The law is such that, any assets that have grown during the time of the of the marriage, pension included, are used to determine the net family property.
In your case working with a Certified Divorce Financial Analyst (CFDA) could help you determine which assets would be most beneficial to keep…
What’s your RRSP contribution limit?
– moneysense.ca
If you’re like many Canadians, you’re hoping you’ve paid enough tax for 2017 and may even be looking forward to a hefty tax refund cheque. You can help ensure that happens by knowing the details of your Registered Retirement Savings Plan (RRSP), what sets them apart, your contribution limit and a whole slew of other things. Here are the basics:
What’s an RRSP
An RRSP is a retirement savings plan that you open at a bank or other financial institution near you. It’s registered by the federal government of Canada, and you can contribute to it 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.
Ten RRSP questions answered »
Who can open an RRSP
If you have earned income, have a social insurance number and have filed a tax return, you can contribute to an RRSP up until December 31 of the year your spouse turns 71…
