Q. I just transferred 200 shares of an ETF from my margin account to my TFSA at a loss. Can I claim the loss, or does it fall under the 30-day rule? – Stavros A. You can transfer investments such as stocks, exchange-traded funds (ETFs) and mutual funds “in kind” between accounts, which means the … Read more

Does your child have a registered education savings plan (RESP)? It’s one of the most effective ways for families to save for post-secondary education. Contributions grow tax-free inside the plan, and the government adds grants that can total up to $7,200 over the life of the plan, rewarding regular saving. Most parents want their children … Read more

I’ve got approximately $500,000 in non-registered investments. My TFSA is maxed out at $88,000. I’m planning on making yearly withdrawals from my TFSA in the amount of 4% of my non-registered capital from age 65. This works out to $18,000 withdrawals from my TFSA account. Replacement of this amount from the non-registered account each year … Read more

What should you do with your RRIF right now? With frequent talk of a recession and ongoing market volatility, many investors who manage their own registered retirement income fund (RRIF) may be wondering how to protect their portfolios while still meeting required annual withdrawals and personal spending needs. For individuals who already have a portfolio … Read more

When planning a family in Canada, the cost and availability of childcare are major concerns for many parents. Demand for child care has risen over recent decades, and fees have followed suit. Canada’s national child care initiative, the Canada-wide Early Learning and Child Care (CWELCC) system, is designed to make childcare more affordable, with a … Read more

Founder, philanthropist and Dragons’ Den star Wes Hall emigrated from rural Jamaica to Canada as a teenager. The night he arrived he resolved to succeed, and despite the obstacles of moving to a new country, he kept that promise. His journey — from working in a mailroom to founding investment firms and leading anti-racism initiatives … Read more

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, breaks down this week’s financial headlines and explains what they mean for Canadian investors. Groceries and electricity profits shine for investors—not so much for consumers Several Canadian blue‑chip companies released quarterly results this week, producing a mixed bag for investors and … Read more

Retired Money highlights Many Canadians say they expect to need about $1.7 million to retire, according to a BMO poll How someone could save $1.7 million inside RRSPs over a working lifetime Other factors that affect how much retirement savings you actually need If you’re beginning the long process of saving for retirement, you may … Read more

Ask MoneySense I have $119,000 room allowed in my RRSP and $81,000 room in my TFSA. I am 47, live in B.C., currently not earning income as a caregiver for a parent. I have a business with a registered GST number to claim income now or in the future. But for my question, let’s assume … Read more

Ask MoneySense We’re often told to have a valid will, but what if you have no close family or the people you would name live overseas? To our surprise, several large Canadian banks provide executor and power of attorney (POA) services, though these offerings are not always easy to find on their websites. We spoke … Read more