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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House rich, cash poor: When a reverse mortgage might make sense Jul 15th
Reverse mortgages were at one time considered the Wild West of financial products, associated with aggressive and even predatory sales tactics targeting seniors in the United States. Fairly or not, that reputation has instilled some wariness in Canada, where regulations have long been more stringen.... More »
Wealthsimple-X deal sparks investor risk concerns + MORE Apr 20th
A new partnership Wealthsimple has struck with social media platform X could greatly expand the finance company’s reach—but some critics are raising concerns about the risks for investors.
Through the partnership launched this week, Wealthsimple customers who have its app on their p.... More »
Canadians fear a tougher road to retirement—and plan to help their kids along the way Feb 10th
Canadians are going into this year’s RRSP season in a somewhat pessimistic mood. Two-thirds say it will be more difficult for them to save and invest for their retirement than it was for their parents, according to BMO’s latest Retirement Survey.
Canadians expect a tougher retirement than the.... More »
The best high-interest savings accounts in Canada for 2025 + MORE Jan 26th
Savings comparison tool
Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.
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MoneySense is an.... More »
Should you pay off a personal loan early? Mar 12th
With bonus and tax refund season underway, the same question tends to resurface: is it worthwhile to make a lump sum payment toward your personal loan, or could that money be better used elsewhere?
In many cases, early repayment reduces interest and removes a monthly obligation. But the decision .... More »
What’s my RRSP contribution limit?
– moneysense.ca
Your RRSP contribution limit is the maximum amount you can add to your registered retirement savings plan each year without triggering penalties. It’s based on your unused RRSP deduction room plus 18% of your previous year’s earned income, up to the annual CRA limit.
Use our RRSP contribution limit calculator below to find your exact number for this year.
TL;DR RRSP contribution rules, explained
Every year, the government announces the annual contribution limits for RRSP accounts.
Your RRSP contribution limit is based on your previous year’s income and past contribution amount.
If you don’t fully contribute to your RRSP, you can carry over the limit and contribute more than what’s allowed for the following year.
If you’re part of an employer pension plan, your RRSP contribution room is reduced by a “pension adjustment” (PA). You can find this number on your T4.
What’s an RRSP?
A registered retirement savings account (RRSP) is just one of many ways you can save for retirement…
