Investing in exchange-traded funds (ETFs) has become increasingly popular in recent years, and for a good reason. ETFs offer a convenient and cost-effective way to invest in diverse assets, from stocks and bonds to real estate and commodities. However, with thousands of ETFs to choose from, it can be overwhelming to figure out which is the best fit for your investment goals and risk tolerance. In this blog post, we’ll break down the key factors to consider when choosing an ETF and provide tips on picking the right one for you.
What is an ETF?
Before diving into the details of picking the right ETF, let’s first define an ETF. An ETF is a type of investment fund that tracks the performance of a specific market index, such as the S&P 500 or the NASDAQ. ETFs can be bought and sold just like stocks on a stock exchange, and they provide investors with a way to gain exposure to a broad range of assets with a single investment.
One of the biggest advantages of ETFs is their diversification…

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Credit cardDetailsCIBC Dividend Visa InfiniteBest for cash back on gas• $120 annual fee• 4% cash back on gas and groceries• 2% on dining, daily transit and recurring billsTangerine Money-Back Mastercard*Best for cash back on gas with no fee• No annual fee• 2% cash back on unlimited purchases in two categories, including gas• 2% in up to two other spending categories TD Cash Back Visa Infinite*Best for roadside assistance• $139 annual fee• 3% cash back on gas (up to $15,000 annually)• Complimentary emergency road services through the TD Auto Club Deluxe membershipScotiabank Gold American Express*Best for gas and travel• $120 annual fee• Earn 3 Scotia Rewards points per $1 spent on gas• Travel perks that include no foreign transaction fees; and travel emergency medical, trip cancellation, flight delay, lost baggage and accident insuranceTriangle MastercardBest for gas at Canadian Tire• No annual fee• Earn $0…

Maybe you’re taking your first steps towards saving for retirement. Or maybe you’re in the home stretch. Either way, you will likely be using a registered retirement savings plan (RRSP). This Canadian tax-sheltered savings account is more than six decades old, and it has formed the backbone of retirement planning for most Canadians since the ’80s, when employer-sponsored pension plans began their decline.

Even if you’re familiar with RRSPs, there may be nuances worth exploring here. And sometimes there are new developments that reshape traditional retirement planning. Most important today is the increase in life expectancy over the past generation. That’s great news, but it also presents a challenge: Investors may need to make their money last even longer in retirement.

Fortunately, the investing world also has fresh ideas and financial products that should rise to the occasion.

RRSPs and tax considerations

RRSPs are best known for their tax deferral. Investments grow tax-deferred inside the account and are only subject to income tax when they are withdrawn…

Stock market news live updates: Stocks higher; S&P 500, Nasdaq notch big weekly gains  Yahoo Canada FinanceUS Banks See Customers Demanding Higher Yields on Deposits  BNN BloombergBanks dress up for a business-casual recession  Kitco NEWSS&P 500 Within a Whisker of 4,000 in Stock Rebound: Markets Wrap  Yahoo Canada FinanceThe Daily Chase: American bank earnings kick off; Royal LePage forecasts home prices to drop  BNN BloombergView Full Coverage on Google News

Investing in gold and silver can be a great way for beginners to diversify their investment portfolio and hedge against inflation. Both metals have been used as a store of value for centuries and have proven to be a reliable form of investment in times of economic uncertainty. In this blog post, we will discuss some of the different investment options available for beginners looking to invest in gold and silver.

Physical Gold and Silver: One of the most traditional ways to invest in gold and silver is to purchase physical bullion. This can be in the form of gold coins, gold bars, or silver coins and bars. Physical gold and silver can be easily bought and sold, and they offer a tangible asset that can be stored in a safe or safety deposit box. This option is a good choice for those who value the security of owning physical assets. For example, American Gold Eagle Coins or Canadian Maple Leaf Coins are popular choices for gold coins, while the Austrian Philharmonic coins or American Silver Eagle coins are popular choices for silver coins…

Investing can be overwhelming and confusing, with a plethora of options and platforms to choose from. Two of the most popular online investment platforms in Canada are Questrade and Wealthsimple. Each platform offers its own unique features, benefits and drawbacks, and choosing between the two can be a daunting task. But, don’t worry, we’ve got you covered! In this article, we’ll be taking an in-depth look at both Questrade and Wealthsimple, comparing everything from account types, types of assets, fees, US dollar purchases, customization and control, and size and reputation. By the end of this article, you’ll have a good understanding of which platform is the best fit for your investment goals.
Account Types:
Questrade offers a wide range of account types, including registered and non-registered accounts, as well as TFSA, RRSP, and RESP accounts. They also offer corporate and trust accounts, which can be useful for businesses and high net worth individuals. For a Questrade trading account, you need a minimum balance of $1,000 to start trading…

Introducing “A Rich Life,” a new column by Shaun Maslyk, Certified Financial Planner and Certified Financial Behaviour Specialist, that explores how we can use financial psychology to understand our real-life money stories.

Money. Money. Money… 

Stop scrolling, reading or glancing ahead and pause for a moment. Tune in to what you feel after reading the word “money.” 

That instant reaction to those five letters signifies so much. It is directly linked to your emotions and the stories you have attached to money. This is the psychology behind money in action.

Why is understanding the psychology behind money so important? 

We often don’t have a clue how money impacts us psychologically. Yet our money affects every single financial behaviour we have. So, if we seek meaningful behavioural changes with our finances—or peace in our relationship with money (yes, you have a relationship with money)—understanding how we feel about money is worthwhile.

And don’t worry: You don’t need a Ph…

How to use this tool: Simply scan the table below to view GIC interest rates offered by financial institutions across Canada. Click one of the tabs at the top of the table to focus on your choice of non-registered, registered, TFSA-eligible or U.S. GICs. Or, follow the prompts in the six fields at the top of the finder tool to input the amount you wish to invest in a GIC and your preferred investment term, along with other details, and the calculator will automatically display what your total return would be from each of the financial institutions listed. This allows you to compare the options side-by-side and decide which is the best for your money.

These are current rates offered by Ratehub partners. You can find information about additional product options below.

GIC rates in Canada 2023

If you’re looking to purchase a guaranteed investment certificate (GIC), you’ve come to the right place. We’ve rounded up the GICs with the best interest rates in Canada. Read on for additional information on GICs, including whether GICs are worth the investment, how to know if GIC rates are likely to go up (or down) and how to choose GICs that align with your goals…

Would Canadians have access to different account types such as GICs and self-directed investing when it comes to the new tax-free first home savings account, which is rumoured to be introduced this year?It seems this would only make sense as it’s the case with other tax-sheltered accounts (i.e. TFSA, RRSP and RESP accounts).—Rohan

FHSA in Canada: Qualified investments and limitations

Bill C-32, which included certain provisions of the 2022 federal budget, was passed into law on December 15, 2022. The bill included the introduction of the tax-free first home savings account (FHSA) effective April 1, 2023.

In theory, Rohan, savers should be able to open an FHSA in April 2023, but some financial institutions may roll the account out as the year progresses.

The registered disability savings plan (RDSP) is an example of how access to certain accounts can be limited. The RDSP was introduced in 2008, and only 17 banks, trust companies and wealth management firms offer the account currently…

The Tax-Free First Home Savings Account (FHSA) is a new savings account that will become available in Canada starting in 2023. This account is designed to help first-time homebuyers save for their first home purchase, and offers several benefits that can make it an attractive option for those looking to enter the housing market.
One of the main advantages of the FHSA is the tax benefits. Contributions to the FHSA are tax-deductible, similar to a Registered Retirement Savings Plan (RRSP). This means that you can lower your taxable income by making contributions to the FHSA, which can potentially save you money on taxes in the short-term. Additionally, any investment income earned within the FHSA is tax-free as long as it is used towards the purchase of a home. This is similar to the tax-free treatment of investment income within a Tax-Free Savings Account (TFSA).
Another advantage of the FHSA is the flexibility it offers in terms of contributions. You can contribute to the FHSA on an ongoing basis, or make one-time contributions as you are able…

Registered retirement savings plans (RRSPs) are often described as “tax-advantaged,” meaning they offer tax-efficient ways for savers and investors to build wealth for the future, usually for retirement. To maximize their potential, you must understand how RRSPs work compared to other registered accounts, like tax-free savings accounts (TFSAs) and registered education savings plans (RESPs). And you should know that not all RRSPs are built the same—some accounts offer higher-than-average interest rates, and some come with lower fees, for example. Here’s everything you need to know to set yourself up for RRSP success.

Contents
The best RRSP savings accountsThe best robo-advisors for RRSP investingThe best online brokers for RRSP investingWhat to know about RRSPs

The best RRSPs in Canada for 2023

Best RRSP savings accounts• EQ Bank RSP Savings Account*• Motive Financial RRSPBest robo-advisors for RRSP investing• Questwealth Portfolio*• Wealthsimple Invest*Best online brokers for RRSP investing• For passive investing: Wealthsimple Trade*• For active traders: Questrade*• For mutual funds: Qtrade*

Best RRSP savings account

EQ Bank RSP Savings Account*

At 2…

It’s been quite a year for numbers, hasn’t it? From rising interest rates to steep stock market drops, finances have been headline news throughout 2022. It’s almost enough to make you forget about tax season. But with the tax deadline approaching, you have a few reminders (see the dates below), as well as this, our MoneySense 2022 Income Tax Guide for Canadians.

You’ll find lots of good info to help you prepare. Here’s a table of contents for the guide’s topics, plus in-depth coverage for many of them. 

2022 Income Tax Guide Table of Contents
Tax-related dates to know

Tax claims for Canadians and changes for 2022 income taxes

Prepping your taxes

RRSP contribution room

TFSA contribution room

Tax tips for Canadians

How to get started on your tax return

More reading for 2022 taxes

When are T4s due, tax deadline for 2022 and other important dates

April 30th may be burned into your brain as the date when taxes are due, but this year that is not the case—it falls on a Sunday in 2023…

A Group Registered Education Savings Plan (Group RESP) is a popular way for parents and guardians in Canada to save for their children’s post-secondary education. But like any financial decision, it’s important to understand the pros and cons before deciding if a Group RESP is right for you.
Group RESP Pros:

Group RESPs offer a number of tax advantages. Contributions to a Group RESP are not tax-deductible, but the growth on the investment is tax-free as long as it is used for education expenses. This can be a significant benefit, as the cost of tuition and other education-related expenses can add up quickly.
Group RESPs often have lower fees than individual RESPs. Because the investment is spread out among a group of people, the administrative costs are often lower, which means more of the money you contribute goes towards the education fund.
Group RESPs offer flexibility in terms of contributions. With an individual RESP, you are required to contribute a set amount on a regular basis…

When it comes to financial transactions with loved ones, many people consider giving or receiving cash gifts. This can be especially common when the gift-giver and recipient are located in different countries. In this article, we will focus on the specific topic of cash gifts from overseas to Canada. It is important to understand the rules and regulations surrounding cash gifts, as well as any tax implications, in order to avoid any potential issues or misunderstandings. This article aims to provide useful information for anyone considering sending or receiving a cash gift in Canada.
Whether you are a Canadian resident looking to receive a cash gift from abroad, or a non-Canadian resident looking to send a cash gift to a friend or family member in Canada, this article will cover the key considerations you need to be aware of.
Definition of a Cash Gift
A cash gift refers to a sum of money that is given to someone without the expectation of receiving anything in return. It is important to note that a cash gift is different from other types of financial transactions, such as a loan or a sale…

For many people, owning a mortgage-free home in retirement can be a financially smart decision, as it allows them to keep their expenses low by only having to worry about property taxes, maintenance, utilities, and insurance. However, if your home is particularly valuable or no longer fits your needs in retirement, it may be worth considering cashing in on your housing market luck and using the investment returns to rent a place that better suits your retirement plans. Whether or not this is the right decision for you will depend on a variety of factors, including the amount you could get for selling your home, the housing expenses you would be freeing yourself of, the amount you would spend on rent, and your comfort level with managing an investment portfolio.
Is selling your home and renting in retirement the key to maximizing your financial security? We explore the pros and cons to help you decide.
To help you determine whether selling your home and renting in retirement is a good idea, it may be helpful to go through an example and consider all of the different pieces…

As we begin the new year, it’s natural to start thinking about what the future holds and how we can set ourselves up for financial success in the year ahead. If you’re an investor with a Tax-Free Savings Account (TFSA), you may be wondering how recent changes in the financial landscape will impact your investing strategy in 2023. In this blog post, we’ll explore some of the key factors that may influence your TFSA investing decisions in the new year, and provide some tips on how to adapt your approach in light of these changes. The TFSA is a powerful tool that can help you grow your wealth tax-free, but it’s important to stay up-to-date with the latest developments and consider how they may affect your investing strategy. We’ll examine the potential impact of rising interest rates, changes to tax laws, and other factors that may influence your approach to TFSA investing in 2023.
Interest Rates & Savings
Interest rates have increased significantly over the past year, and this has had an impact on two of the four financial strategies mentioned…

Auto parts companies with exposure to faster-growth hybrid and electric vehicles like Magna International and Linamar Corporation are likely to do well in 2022 and beyond.

It’s been a difficult few years for the auto industry. Global light vehicle production declined from 2017 to 2020. The ongoing pandemic and severe supply chain shortages kept the growth in 2021 in check. However, this is setting up a scenario where production can grow on a multiyear basis. In particular, auto parts companies with exposure to faster-growth hybrid and electric vehicles like Magna International (MG.TO) and Linamar (LNR) can do well.
Linamar Corporation (LNR.TO)
Linamar Corporation is a Canada-based manufacturing company. The Company is engaged in providing manufacturing solutions and developing engineered products. It operates under two segments, namely the Industrial and Mobility segments. The Industrial segment is consists of Skyjack and MacDon. Skyjack manufactures scissor, boom, and telehandler lifts for the aerial work platform industry…

Here’s how much you need to make to afford a home in Vancouver right now | Urbanized  Daily HiveCanada’s Real Estate Bubble Has Grown Over 800% Faster Than US Home Prices  Better DwellingAverage BC home price will reach $1 million for the first time in 2022 | Urbanized  Daily HiveVancouver-area home sales slowed in January as supply dwindled: real estate board  CBC.caOkanagan-Shuswap active house listings remain at record low  Vernon Morning StarView Full coverage on Google News

Many popular growth stocks have fallen more than 20 percent or more over the past few weeks. However, assuming a company’s business is intact, volatility over the short term could turn into long-term wealth if investors keep a level head.

If you’re trying to take advantage of this drop with some cash on the side, I will be going over three Canadian growth stocks that are the most likely to bounce back and these growth/ dividend stocks have the potential to deliver significant upside if you are a long-term investor.
Shopify (SHOP.TO)
One of the best Canadian growth stocks to buy over the last few years has been Shopify. And now, after it’s sold off significantly and is currently trading 50% off its 52-week high, the stock certainly looks like it could be undervalued. Looking at several metrics, it’s clear that Shopify hasn’t been this cheap since the pandemic began.
The company’s trailing price-to-sales (P/S) ratio is below 20 times for the first time since March 2020…