Marriage or mortgage: Which is the better investment? Mar 30th

Retirement planning getting you down? There are always smart ways to plan the financial aspects of your retirement.
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How to plan for retirement for Canadians: A review of Four Steps to a Worry-Free Retirement course + MORE Oct 26th

With November incoming and being Financial Literacy Month in Canada, it seems appropriate to devote this edition of the Retired Money column to a new Canadian DIY retirement course created by MoneySense’s “Making sense of the markets” columnist Kyle Prevost. Entitled 4 Steps to a .... More »
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What to do when you overcontribute to your RRSP + MORE Jun 22nd

Ask MoneySense I overcontributed to my RRSP by accident, and I am looking for some advice on how to deal with it. I contributed $3,550 to my 2022 RRSP in October 2022. I then forgot I made this contribution and again in February 2023 I made a $3,550 contribution. What options to I have to address.... More »

How to be a better investor Mar 1st

For both beginner and experienced investors, focusing on a few basic guidelines can make the difference between good results and great ones. Whether you’re investing in a taxable account or a tax-sheltered account like a registered retirement savings plan (RRSP), doubling down on the basics can he.... More »

Can you receive a government pension if you live outside of Canada? Jul 20th

Q. My father, who was born in 1945, left Canada to live in Thailand when was 26 years old. That was 50 years ago and he has never returned. If he comes back to Canada for one year to apply for his OAS, would he be eligible to receive a full pension? And would they be able to calculate his pension an.... More »

Financial planning in your 70s + MORE Oct 12th

When most people think about financial planning, they think about saving and investing for retirement. That is certainly a part of it, but financial planning is much more holistic. Here are a few financial planning strategies for those approaching or into their 70s. If you are not there yet, bookmar.... More »
Weddings can be expensive, but so can many of the things that come after a wedding—like a home purchase, starting a family and saving for retirement. And so money is an important relationship issue even before a couple ties the knot. 
Both weddings and home purchases can both cause people to think or spend irrationally—especially amid the rush to “get in the real estate market” while mortgage rates are at historically low levels. How can a couple decide which is the better use of their hard-earned savings?
Let’s start with weddings. The costs associated with their Big Day can range drastically from couple to couple, depending on their wedding plans and the size of their family. The dollars differ widely among industry estimates, as well. According to Wedding Wire’s 2019 Global Wedding Report, the average Canadian wedding costs US$21,900—that is, $29,059 Canadian at the average 2019 exchange rate. Meanwhile, the consumer data company Statista pegged the average Canadian wedding at a much higher $42,401, back in 2017…

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