For retirees and those nearing retirement, five major risks can jeopardize a long, comfortable retirement: taxes, investment fees, volatile stock markets, rising interest rates and persistent inflation. You can largely manage the first two risks by maximizing the use of tax-efficient vehicles such as TFSAs, RRSPs and RRIFs, and by avoiding high-fee investment products. Market … Read more

I am in my early 50s, have a steady job, I’m not a big spender, and I make RRSP contributions. Why would I need a financial plan? I don’t see how it could help me.—Tom What is financial planning? That’s a great question, Tom. At its core, financial planning is a way to manage change … Read more

I am a small business owner and have a corporation. I am a truck owner operator with just one truck for now but it will expand. I always get money out of my corporation to invest in personal real estate, TFSAs and RRSPs. But if I were to leave money within the corporation and build … Read more

It may not have occurred to you to open a U.S. dollar savings account, but after reading this, you might reconsider. In an increasingly interconnected economy, a U.S. dollar savings account can offer practical advantages for Canadians, from saving on travel costs to keeping more revenue if you sell to U.S. customers. Below is a … Read more

Doretta Thompson is the director of corporate citizenship at CPA Canada, where she leads award-winning financial literacy programs. She also serves on the board of AFOA Canada (formerly the Aboriginal Finance Officers Association of Canada) and contributes to Excellence Canada’s financial literacy standards advisory committee. A recipient of the Queen Elizabeth II Diamond Jubilee Medal, … Read more

If you’re shopping for a home these days, you’ve probably seen listings that highlight income potential from a secondary suite or basement apartment. These two-unit properties can be practical—for instance, to house an elderly parent—and they often provide a steady rental income stream. But renting out part of your home brings legal and financial responsibilities. … Read more

Tenant insurance, also called renter’s insurance, can feel like one more adult expense with little return. In reality, it’s one of the most affordable protections you can buy. Typical monthly costs range from about $15 to $30, and for that price you get coverage for your belongings, protection from liability claims if someone is hurt … Read more

Is your portfolio working hard enough? Find out what the right mix should be. Watch: Portfolio Builder: Lesson 4 Is Your Portfolio Working Hard Enough? How to Find the Right Mix Building an investment portfolio that meets your goals requires more than picking a few stocks or funds at random. The right asset mix balances … Read more

Watch: Portfolio Builder — Lesson 1 Welcome to Lesson 1 of the Portfolio Builder series. This introductory session is designed to give you a clear foundation in the principles of building and managing an investment portfolio. Whether you are starting from scratch or refining an existing portfolio, this lesson focuses on practical steps and long-term … Read more

Watch: Portfolio Builder — Lesson 2 This lesson in the Portfolio Builder series focuses on practical steps for constructing and maintaining an investment portfolio. Whether you’re new to investing or refining an existing strategy, Lesson 2 walks through the essential principles of portfolio construction: setting clear goals, choosing an appropriate asset allocation, diversifying to manage … Read more