We know we pay for convenience. Compare the low price of a jar of spaghetti sauce at a supermarket with the higher cost at a corner store, and the markup is obvious. When the COVID-19 pandemic forced many of us to stay home, curbside pickup and online grocery shopping became mainstream. For many Canadians, convenience … Read more

Ask MoneySense What are the advantages if a husband buys stocks or other investments in his wife’s name? He earns income and she has never worked.—Lynne How income-splitting with a lower-income spouse works It is possible for one spouse to hold investments in the other spouse’s name, but the tax outcome depends on the account … Read more

Among the different life insurance choices, universal life insurance stands out as one of the more complex options. It demands more involvement than straightforward term or whole life policies: you can’t simply “set it and forget it.” You must decide how much to contribute, how those premiums are allocated, and how the investment portion is … Read more

Two readers ask financial experts how to handle a defined contribution (DC) pension when retiring. Below are practical, plain-language answers about options, costs and what to consider before moving funds out of an employer plan. What to do with a DC plan when you’re about to retire Ask MoneySense My husband has a DC Registered … Read more

If you currently subscribe to Netflix’s Basic plan, you can continue to use it—but if you don’t already have that plan, you can’t sign up for it anymore. In mid to late June, Netflix quietly removed the Basic plan from the list of options for new and returning members. The change went largely unannounced, but … Read more

This week, Cut the Crap Investing founder Dale Roberts reviews the latest financial headlines and provides context for Canadian investors. Is it a bear trap or a long-term bull market? The market story over the past months has largely been about interest rates moving in slow motion. Consumers are eager to spend on experiences—travel, dining … Read more

If you’re approaching the age when you must close your registered retirement savings plan (RRSP), it’s a good time to consider annuitizing at least part of your savings. Canadian law requires RRSPs to be closed by the end of the year you turn 71. Because cashing out and paying tax on the entire balance is … Read more

In Canada, estate planning is sometimes thought of as a formal, complicated process only for the wealthy. In reality, it’s a practical and important task for people of all ages, incomes and family situations. A clear estate plan gives you control over what happens to your assets, protects those you care about, and makes sure … Read more

In a world obsessed with saving money (which is important), I propose we also focus on how we spend it. Rather than treating saving and spending as opposites, we can use our spending to cultivate real joy and lasting satisfaction. If the “don’t spend” message of frugality frustrates you, consider a different approach: purchases can … Read more

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, summarizes this week’s financial headlines and explains what they mean for Canadian investors. The U.S. Fed pauses rate hikes—for now On Wednesday the U.S. Federal Reserve halted its streak of interest-rate increases after 10 consecutive months of hikes that had tightened … Read more