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The best five-year variable mortgage rates in Canada + MORE Dec 12th
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Canada’s best credit cards for groceries
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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 »
The best TFSAs in Canada for 2026 + MORE Feb 4th
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EQ Bank TFSA Savings Account
Earn 1.50% tax-free on your cash savings.
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How to consolidate your registered accounts for retirement income in Canada + MORE Oct 1st
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My wife has an RRSP in her name and a spousal RRSP in her name, plus a small LIRA. She will be turning 71 next year.
My question is: Can she open a RRIF account and contribute both of her RRSPs plus the LIRA amount into one single RRIF account without incurring any taxable conseque.... More »
How to draw money out of your corporation in retirement Nov 7th
Incorporated business owners can sometimes be unsure of how best to decumulate, drawing from their corporate savings along with their other investments and pensions. Corporate savings do provide complexity as well as opportunity.
From paying yourself a salary to drawing income
Business owners .... More »
Making sense of the markets this week: July 12, 2021
– moneysense.ca
Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.
How to be a millionaire
I’ve often said that becoming a millionaire should be achievable—if you have a decent wage, manage your debt, get cash-flow-positive and invest in a low-fee manner on a regular schedule. Easy-peasy, eh?
Wealth building is so “simple,” I was able to explain it in a 1,000-word blog.
Alright, alright—so, cutting back on coffee and a few other personal budget items will still leave you 12% short of that millionaires’ club, but it is surprising how modest amounts can add up to millions. (We recently looked at building the $8-million portfolio in this space.)
Here is a very good and simple video that demonstrates how much it takes from various starting points—that is, your age when you begin investing—to kicking off retirement at age 67. How much would you have to invest on a regular schedule beginning in your 20s, 30s or 40s to build that $1-million portfolio?
Here are the deets in chart form: the time it takes to make a million…
How to be a millionaire
I’ve often said that becoming a millionaire should be achievable—if you have a decent wage, manage your debt, get cash-flow-positive and invest in a low-fee manner on a regular schedule. Easy-peasy, eh?
Wealth building is so “simple,” I was able to explain it in a 1,000-word blog.
Alright, alright—so, cutting back on coffee and a few other personal budget items will still leave you 12% short of that millionaires’ club, but it is surprising how modest amounts can add up to millions. (We recently looked at building the $8-million portfolio in this space.)
Here is a very good and simple video that demonstrates how much it takes from various starting points—that is, your age when you begin investing—to kicking off retirement at age 67. How much would you have to invest on a regular schedule beginning in your 20s, 30s or 40s to build that $1-million portfolio?
Here are the deets in chart form: the time it takes to make a million…
What is an ETF?
– moneysense.ca
If you want to think about it in really simple terms, an ETF is like a meal kit. How’s that? Well, if you’re someone who enjoys good food, but doesn’t necessarily consider yourself a good cook, you might pick up a meal kit, because it contains all of the pre-selected elements you need to prepare a tasty dinner.
ETFs may sound a bit like mutual funds—but there are important differences. First, ETFs are traded on stock exchanges, so you can buy or sell them through an online brokerage, if you prefer to DIY. And second, ETFs are generally way cheaper. That’s because rather than actively trying to beat the market, like mutual funds do, ETFs are designed to track a specific index. That requires a lot less of a professional fund manager’s time, and those savings are passed on to you, when you buy an ETF.
In this video, MoneySense’s Editor-in-Chief, Sandra Martin, explains how those fees compare, and more.
ETFs may sound a bit like mutual funds—but there are important differences. First, ETFs are traded on stock exchanges, so you can buy or sell them through an online brokerage, if you prefer to DIY. And second, ETFs are generally way cheaper. That’s because rather than actively trying to beat the market, like mutual funds do, ETFs are designed to track a specific index. That requires a lot less of a professional fund manager’s time, and those savings are passed on to you, when you buy an ETF.
In this video, MoneySense’s Editor-in-Chief, Sandra Martin, explains how those fees compare, and more.
Watch: MoneySense – BMO ETFs – Sandra Martin – What are ETFs
The post What is an ETF? appeared first on MoneySense.
