How to go about securing the best savings strategy in Canada.
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What types of tax-free savings accounts (TFSAs) exist? + MORE Jun 19th
A tax-free savings account (TFSA) is a fantastic way to earn money on your savings, without having to pay tax on those earnings. Registered by the federal government, TFSAs are available to Canadians aged 18 and older. Unlike a registered retirement savings plan (RRSP), you cannot deduct contributio.... More »
When will I receive my Old Age Security benefits? OAS payment dates for 2026 + MORE May 27th
If you’re close to retirement or are a pensioner trying to manage your monthly budget, it helps to know when your Old Age Security (OAS) benefits are paid out. The government publishes the payment dates and provides a wealth of information about the program, but you may still have questions. We’.... More »
Stock news for investors: Cineplex and Aritzia post strong results despite industry headwinds + MORE Oct 15th
Here’s a round-up of news for Canadian investors this week.
Cineplex
Aritzia
Trilogy Metals
Barrick Mining
Cenovus-MEG Energy
Featured RRSP Accounts
featured
EQ Bank
Buil.... More »
Wealthsimple Cash review 2024 + MORE Jul 16th
Wealthsimple Cash is a high-interest chequing/savings account that offers one of the highest interest rates in Canada. It has appealing yields and includes a prepaid Mastercard with no foreign exchange fee, so many consumers are naturally attracted to the account. Is it any good? The short answ.... More »
Nine surefire ways to save on your grocery bill (and still eat well) + MORE Jun 19th
Surging food prices are taking a bite out of your wallet, so arm yourself with my pro tips for scoring the best savings, Lesley-Anne Scorgie writes..... More »
Are all those pandemic savings going away? It looks like it. But you’re not too late to still make smart spending decisions
– thestar.com
After making a budget, go through each item and highlight what you might want to trim.Are all those pandemic savings going away? It looks like it. But you’re not too late to still make smart spending decisions
– thestar.com
After making a budget, go through each item and highlight what you might want to trim.A guide to spousal RRSPs for married and common-law partners
– moneysense.ca
Couples can open and contribute to a personal Registered Retirement Savings Plan (RRSP) or a spousal RRSP—or both. A spousal RRSP generally makes the most financial sense for couples whose incomes are quite different. If one partner earns little or no income, so that contributing to their own RRSP doesn’t offer any tax benefits, the higher-income spouse can make tax-deferred contributions to their lower-income partner’s retirement savings through a spousal RRSP.
The contributing spouse is limited by their own RRSP room, and the tax deductions are claimed on the tax return of that contributing spouse. And the contributing spouse may also save within their own individual RRSP.
The owner of the account makes the investment decisions, and the account is in their name. It’s important to note that in some provinces, individuals keep the assets in their name when they have a relationship breakdown in a common-law union. That’s because common-law partners are treated like married couples in some provinces, while in other provinces—like Ontario—it’s more of a “what’s yours is yours, and what’s mine is mine” approach, and whose name an asset is held in is generally more important for common-law partners than legally married spouses…
The contributing spouse is limited by their own RRSP room, and the tax deductions are claimed on the tax return of that contributing spouse. And the contributing spouse may also save within their own individual RRSP.
The owner of the account makes the investment decisions, and the account is in their name. It’s important to note that in some provinces, individuals keep the assets in their name when they have a relationship breakdown in a common-law union. That’s because common-law partners are treated like married couples in some provinces, while in other provinces—like Ontario—it’s more of a “what’s yours is yours, and what’s mine is mine” approach, and whose name an asset is held in is generally more important for common-law partners than legally married spouses…
