Ask MoneySense If I have $25,000 contribution room left in my RRSP, can I take that all at once plus my regular RRSP contribution of $31,560 for the tax year 2024? Effectively making a contribution of $56,560 to my RRSP? —Lorraine The rules around RRSP contribution room Registered Retirement Savings Plan (RRSP) contribution room accumulates … Read more

It’s tax season again, and many Canadians are looking for tax-smart ways to invest and reduce their tax bill in the coming year. Adding guaranteed investment certificates (GICs) to your savings or investment mix can provide a safe, predictable way to earn interest while protecting your principal. How GICs work A GIC is a deposit … Read more

A guaranteed investment certificate (GIC) is a low-risk savings product that remains popular for good reasons. Issued by banks, credit unions and trust companies in Canada, GICs promise a fixed rate of return for a set term—typically from 30 days up to five years or longer. Unlike a regular savings account, a GIC requires you … Read more

Guaranteed investment certificates (GICs) are a conservative way to set aside money for a specific goal. They return a guaranteed principal plus interest, come in a range of terms and payout options, and are available in both registered and non-registered forms depending on where you hold the investment. GIC rates typically rise with longer terms. … Read more

Guaranteed investment certificates (GICs) are low-risk savings products offered by banks, credit unions and other financial institutions. In exchange for locking in your money for a predetermined term—anywhere from 30 days up to 10 years—the issuer promises a fixed rate of return. That predictability makes GICs a straightforward way to protect capital and earn a … Read more

If you want to earn more interest than a typical savings account without risking your principal, guaranteed investment certificates (GICs) are worth considering. Offered by Canadian financial institutions, GICs are ultra-low-risk investments that provide guaranteed interest income, making them a reliable part of a diversified portfolio. What are GICs? What benefits do they offer? GICs … Read more

Guaranteed investment certificates (GICs) remain a straightforward, reliable option for Canadians who need a safe place to park their cash. They typically offer higher returns than a standard savings account and require only a small minimum investment to get started. This guide explains how GICs work, how they can protect your purchasing power during periods … Read more

Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and context for Canadian investors. Volatility is back After several years of an unusually steady climb in U.S. stocks—and to a lesser extent in Canadian equities—markets experienced a sharp return of volatility. The steady uptrend that had … Read more

Meet Joseph Curry Joseph Curry co-hosts Canada’s fastest-growing retirement planning podcast, Your Retirement Planning Simplified, which delivers practical, in-depth guidance on retirement planning in a clear and accessible way. His goal is simple: make high-quality financial information available to as many people as possible so they can sleep better at night, while also emphasizing the … Read more

Meet Adam Chapman Adam Chapman has built a reputation as a retirement-focused financial planner who helps clients enjoy the money they worked hard to save. With nearly two decades of experience working alongside older generations—often over a cup of afternoon tea—Adam’s practice blends technical expertise with behavioural coaching so retirees can spend with confidence, rather … Read more