Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares this weekly roundup of financial headlines with clear context for Canadian investors. U.S. inflation unnerves the stock market Investors had been expecting inflation to moderate this time of year, which would normally allow stock markets to settle into steady, … Read more

Covered-call exchange-traded funds (ETFs) have attracted growing interest from Canadian investors looking for higher income, says Travis Koivula, an investment advisor with Aviso Wealth in Victoria. As more retail investors manage their own accounts, many are drawn to the steady distributions these funds advertise. However, covered-call ETFs come with trade-offs that Canadian investors should understand … Read more

Canadians are feeling the pressure of a rising cost of living, and many parents believe they can’t afford to prioritize saving for their children’s education. Still, most want to help their kids with future schooling costs, which creates a difficult trade-off for many households. With competing expenses such as housing, groceries and transportation, contributing regularly … Read more

Advocates have praised Ottawa’s decision to extend amortization periods on insured mortgages for certain buyers, but many say the change should be broader to make home ownership more attainable across Canada. On Thursday in Toronto, Finance Minister Chrystia Freeland announced the federal government will permit 30-year amortization periods for insured mortgages taken out by first-time … Read more

Did you know roughly 1.8 million Canadians are now “sandwiched” between multiple caregiving responsibilities, balancing the needs of their children with those of aging parents? That shift in caregiving—from parent to adult child, often while raising a family—can create real financial pressure for the entire household. With healthcare costs rising and seniors representing one of … Read more

Grocery inflation in Canada is expected to fall below 2% by spring 2024 and remain roughly between 1% and 2% for the rest of the year, according to a new industry report. Farm Credit Canada (FCC), an agricultural lender, says the pressures that drove food prices higher are easing and anticipates that food price increases … Read more

The price of oil has risen steadily through the year, yet the conversation at Canada’s largest oil and gas conference remained centered on spending discipline and capital returns. At the Canadian Association of Petroleum Producers conference in Toronto, industry leaders repeatedly emphasized predictable operations, steady cash flow and returning capital to shareholders rather than pursuing … Read more

You’ve been asked to meet with your manager and a human resources representative during a period of uncertainty at work. The situation smells like a layoff. In past years many people would quietly update their resumes, send a LinkedIn message or avoid social media altogether after a termination. Lately, however, a growing number of younger … Read more

Bookmark this updated MoneySense guide to personal income taxes for 2023. We will continue to revise it as new information and deadlines emerge. Our coverage includes expert answers from the Ask MoneySense and Ask a Planner columns to help you with practical, accurate tax guidance. Below is a clear summary of what’s new and the … Read more

Ask MoneySense I have non-registered investment management fees from 2021 and 2022 that were not claimed on my returns for those years. Can they be deducted on my 2023 return? If not, is there another way to utilize those deductions now? —Ian How to change a tax filing to claim investment management fees If you … Read more