The best five-year variable mortgage rates in Canada + MORE Dec 12th

Should I have beneficiaries or the estate listed on my investment accounts?—Catherine

Named beneficiaries vs the estate—which is better?

Thanks for writing in, Catherine. A common thing we think about when doing our estate plan is how to make transferring our assets and money to friends and family go smoothly. So, naturally, this brings up the questions: How should you handle your investment accounts? And what makes the most sense for your situation?

First, let’s review the pros and cons of naming beneficiaries in registered accounts versus not naming anyone and having the account flow through to the estate.

Naming beneficiaries on registered accounts

Depending upon the type of registered investment account you hold, Catherine, there may be some planning opportunities for the asset. In every province and territory, except for Quebec, Canadians can name beneficiaries on the registered account. (Note: Under Quebec’s legislation, you can only do so in a will.) The types of accounts that allow for named beneficiaries include registered retirement savings plan (RRSP), registered retirement income fund (RRIF), tax-free savings account (TFSA), registered education savings plan (RESP), and segregated funds…

Inflation is no joke, and the holidays are going to cost a lot more this year. From groceries to gifts, the Canadian dollar doesn’t go as far as it did a year ago. If that means you’re on a budget when it comes to your shopping list, but you still want to look like you spent a fortune, consider the value gift set.

Many brands and retailers package up their best-selling products at significant savings during the holiday shopping season, and we’ve found the best of the best. Here are our favourite bundle gift sets, ranked from least to most savings.

Caffeine kick

For the coffee fiend on your list. This gift pack from Ontario-based Detour Coffee has two of their super-popular holiday blends and one limited-edition blend. 

Total savings: $5

Holiday Tasting Pack, $68, detourcoffee.com

Home office organizer

This gift set is for the person who’s still working from home but hasn’t quite figured it out yet. With a mug full of spreadsheet shortcuts, little confidence-boosting flashcards, and a mute button that gives 100% certainty that your mic is off, it’ll instantly up their WFH game…

Mortgages

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5-year variable mortgage rates in more detail

By Sandra MacGregor on  December 8, 2022

Compared to other mortgage products in Canada, five-year variable-rate mortgages are very attractive when market interest rates are low, as they have been for the last several years. Though historically less popular with Canadians than five-year fixed-rate mortgages, variable-rate mortgages offer the possibility of cost savings for home buyers who can tolerate a degree of fluctuation in market interest rates over their five-year terms. But, like all mortgage products, they do have their drawbacks…