In 2022, the cryptocurrency market endured a relentless barrage of negative developments. From a peak market capitalization near $3 trillion in November 2021, the market plunged to below $1 trillion within a year. Recent fallout from the collapse of the FTX exchange pushed prices even lower, bringing the market cap to roughly $830 billion. (All … Read more

Have you started your holiday shopping yet? Many Canadians are checking items off their lists earlier than usual—whether for Christmas, Kwanzaa or Hanukkah. Last year’s supply-chain headaches eased somewhat, but inflation and tighter household budgets are pushing shoppers to buy sooner in case prices climb further. Retailers, facing excess inventory and concerns about an economic … Read more

In recent years, financial planning has increasingly been treated as a product rather than an ongoing process. Many firms offer one-off financial plans or use planning as a prospecting tool. A plan that gathers dust is not enough. Forward-looking, actionable financial planning helps you stay on course and reach your long-term objectives. What kinds of … Read more

Despite the well-known volatility of cryptocurrencies, a recent survey found that nearly one in three Canadians—31%—plan to buy crypto assets in the next 12 months, and 11% said they definitely will. The survey, conducted by the Ontario Securities Commission, also reported that about 13% of Canadians currently hold digital assets such as cryptocurrencies (for example, … Read more

The Great Recession changed the course of my early adult life. I was about to graduate in 2008 when the subprime mortgage crisis spiraled into a global financial shock. The S&P 500 dropped roughly 57%, U.S. GDP fell by 3.8% and employment declined by 6%. In the European Union, GDP fell about 4.4% in 2009 … Read more

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, summarizes the week’s financial headlines and provides context for Canadian investors. Inflation still elevated — prices 6.9% higher year over year Statistics Canada reported this week that consumer prices are rising at the same pace as last month. That means inflation … Read more

Canada is a welcoming and diverse country—which may be one reason you chose to move here. At the same time, newcomers must be aware of a high cost of living and substantial income taxes (high earners can face marginal rates up to about 54%). Current inflation, along with rising housing and energy costs, makes financial … Read more

When you are a new driver, insurers generally consider you a higher risk than drivers with many years of experience. Collision risk is highest in a driver’s first year and decreases with experience. As a result, new drivers—especially teenagers—often pay the highest auto insurance rates in Canada. So how does attending driving school affect your … Read more

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, summarizes the week’s financial headlines and explains what they mean for Canadian investors. Cooling inflation leads to a red-hot day for the markets News from the United States often dominates North American markets, and this week was no exception. October’s U.S. … Read more

It may seem like ancient history now, but bitcoin (BTC) — the world’s first cryptocurrency — has only existed since 2009. The journey since then has been volatile, yet bitcoin has shown resilience and inspired a vast ecosystem of other digital tokens and blockchains. These alternatives, commonly called altcoins, now represent a significant portion of … Read more