What is Sun Life’s new decumulation product? + MORE Oct 30th

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 GIC rates in Canada for 2025 + MORE Jun 30th

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. Why trust us MoneySense is an award-winning magazine, helping Canadians navigate m.... More »

Unlocking the Annuity Puzzle: Why Canadians avoid what seems to be the perfect retirement vehicle + MORE Dec 18th

The Annuity Puzzle is about a curious phenomenon in Canada: while life annuities sold by insurance companies seem to have all sorts of compelling reasons to acquire them, more often than not, retirees shun them. Financial planner Robb Engen recently tackled this puzzle in his Boome.... More »

Lisa Hannam on measuring time and money, and more + MORE Nov 1st

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Alberta called. What I wish I’d known before making the move

– moneysense.ca

Like many people in Ontario, I got swept up in the “Alberta Is Calling” campaign and left Toronto to buy a condo in Calgary last year. Home prices in the prairie province were barely half those of comparable properties in the Greater Toronto Area and it was the only way I could see to own one. But I quickly realized just because I qualified for a mortgage didn’t mean I could afford it.

Now, almost a year in, I find myself struggling to keep up with all the monthly expenses of owning a home, with little left over for savings, debt repayment or fun.

Here are some things I’d wish I’d known before buying my first home and some advice from a financial planner on preparing for such a big purchase and what to do if you find yourself in over your head.

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What is Sun Life’s new decumulation product?

– moneysense.ca

Late in September, Sun Life joined a small group of Canadian financial firms offering would-be retirees a decumulation product designed to help pensioners make the often-tricky transition from saving and accumulating wealth to drawing it down. It’s called MyRetirementIncome.

In doing so, it joins Guardian Capital’s Glidepath and the Purpose Longevity Fund, among others. Even so, Sun Life describes MyRetirementIncome as “a first of its kind in Canada” that “fills a gap in our industry in Canada.” It also resembles asset allocation ETFs (exchange traded funds), like Vanguard’s VRIF (Vanguard Retirement Income ETF Portfolio).

There appears to be a market in Canada for these kinds of products, despite tepid initial sales of some of the above-named pioneers. In Sun Life’s press release, it says that 5 million Canadians are “turning 65 this decade,” so there’s “growing demand for retirement solutions that help Canadian retirees transition from saving to drawing income…

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US tech stocks send Nasdaq to hit record high, as Alphabet beats forecasts – Al Jazeera English

– news.google.ca

US tech stocks send Nasdaq to hit record high, as Alphabet beats forecasts Al Jazeera EnglishStock market today: Nasdaq secures record close as Alphabet kicks off Big Tech earnings Yahoo FinanceNasdaq hits record high as Alphabet earnings beat estimates ReutersS&P/TSX composite ticks lower, U.S. stock markets mixed as Nasdaq reaches new high SooTodayS&P 500 futures rise after Alphabet posts earnings beat: Live updates CNBC

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