In April 2022, in response to Canada’s overheated housing market, the federal government announced the first home savings account (FHSA), a new tax-advantaged registered account designed to help first-time buyers save for a home. The FHSA blends features of existing registered accounts to give new buyers a dedicated, tax-efficient vehicle for building a down payment. … Read more

Did you know mutual funds have been part of Canada’s financial landscape since the Great Depression? While exchange-traded funds (ETFs) have become popular in recent years, mutual funds remain a primary choice for many Canadian investors. According to the Investment Funds Institute of Canada (IFIC), at the end of 2022 there were 3,409 mutual funds … 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 headlines remain the main focus Global markets are still reacting primarily to expectations about future monetary policy. This week’s notable event was the U.S. Federal Reserve raising rates by … Read more

If you are retired or approaching retirement, there’s a good chance your principal residence is paid off or close to being paid off. At the same time, many retirees have adult children who are struggling to save a down payment and break into the housing market. Even though home prices have softened since interest rates … Read more

Ask MoneySense I am 59, semi-retired and living in Ontario. My current investments are: $302,000 in a non-registered account (primarily Canadian equities), $133,000 in a TFSA (equities), and $287,000 in an RRSP (equities). I also hold three GICs—1-, 2- and 3-year terms—each worth $25,000 and earning about 4.3%. I have $20,000 in a savings account … Read more

First‑Time Home Buyer Incentive — Editor’s Note Editor’s note: The federal government’s First‑Time Home Buyer Incentive was discontinued in March 2024. The deadline for new and updated submissions to the program was March 21, 2024 (midnight ET). If you were saving to buy your first home, you may have been eligible for the federal First‑Time … Read more

Who is Nicholas Hui? Nicholas Hui is a Certified Financial Planner who transitioned to financial planning after a 20-year career as an automotive engineer. He applies the same structured, analytical methods from engineering to financial advice, focusing on practical, personalized planning for young professionals and growing families. As an advice-only planner, Nicholas provides fee-based guidance … Read more

powered by Ratehub.ca How to use this compound interest calculator To estimate the future value of savings, investments or debt, enter the following details into the compound interest calculator: Initial investment: The starting amount you invest or deposit. For loans or debts, this is the amount you borrow. Additional contributions: Any regular or one-time amounts … Read more

Meet Janet Gray Janet Gray is an advice-only Certified Financial Planner with more than 20 years of experience as a speaker, educator and trusted financial professional. Recognized repeatedly in Canadian media as a reliable expert, Janet has received the “Financial Services Person of the Year” award twice. She focuses on business and retirement planning and … Read more

Sander Meijers is probably more familiar to the apps on your phone than to you personally. With more than 14 years of experience shaping growth partnerships with major platforms such as Spotify, Netflix and Blendle, he brings deep expertise in the technology and payments sectors. Since 2017 he has worked at Adyen, and in August … Read more