Video: How to close a bank account + MORE Sep 12th

Pretty much every Canadian has a bank account. So it makes sense to ensure that you have the best savings account for you (and chequing too) by shopping around. So if you’ve decided to move on from your current bank, you will want to close your old account and ensure that nothing gets lost in the transition—overdraft fees, no thank you. Watch this video to learn the steps and everything you need to close up shop on a bank account in Canada.

Watch MoneySense: How to close a bank account

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I’m in my early 60s and planning to retire soon. Does it make sense to include a small amount of crypto in my investment portfolio?—Alex 

Is crypto a safe investment for retirement savings? 

This is a tricky question, Alex, because only a qualified financial advisor who has a holistic view of your financial situation can tell you whether crypto is a suitable investment. And ultimately, what you invest in should be based on your own research, and any risks you take will be yours alone. 

Cryptocurrencies can be extremely volatile, and their prices are affected by a wide range of factors. And typically, as investors approach retirement, they move away from riskier assets and towards safer ones, including fixed income investments such as bonds and guaranteed investment certificates (GICs). 

Having said that, there are some prominent supporters for crypto in a retirement portfolio. Firstly, U.S. senator Cynthia Lummis—a crypto owner herself—believes that investors can use bitcoin (BTC) to diversify pension funds and as a store of value…