Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and provides context for Canadian investors. Are we in the middle of another Roaring ’20s? The original Roaring ’20s in the United States was a decade marked by rapid innovation, exuberant consumer spending, a buoyant stock market … Read more

Ask MoneySense I am in B.C., Canada. I moved my LIRA into a LIF two years ago. I have taken the maximum annual withdrawals for each year. I thought it’d be smart to start taking it. How can I get more out of it? I need the funds to help deal with bill payments. All … Read more

Math is taught in school, but personal finance rarely is. Michelle Robertson, founder of Ms. Money and Math, combined her strong accounting background with a personal journey from living paycheque to paycheque to achieving financial independence. A Canadian Chartered Professional Accountant, Robertson has worked at PwC, the Globe and Mail and for the Pan Am … Read more

Ask MoneySense I’m of retirement age and have some soft and hard assets, which—if redeemed, sold or when I pass away—will incur capital gains. My children will have to come up with funds to pay. So, my question is, how can I best prepare hereon to either minimize such tax or to shield against the … Read more

Canada appears likely to avoid a recession despite persistent headwinds from elevated interest rates, according to Deloitte Canada’s economic outlook. The firm highlighted several concerning trends that continue to weigh on the economy, including stubborn inflation, a rise in business insolvencies and growing mortgage delinquencies. These factors keep the outlook cautious even as other indicators … Read more

The federal government’s move to encourage rent payments being counted toward credit scores has been welcomed by companies that already offer rent-reporting services, while tenant advocates and charities warn of potential pitfalls. Industry leaders say the policy could help many renters build credit, but they also stress the need for safeguards and clear implementation rules. … Read more

The thrill of driving a new car off a dealer’s lot is undeniable, but financial experts caution against letting that excitement lead to borrowing beyond your means. A shiny new vehicle can be tempting, yet taking on a loan you can’t comfortably repay risks repossession and long-term damage to your credit. Resource highlight LoanFinder is … Read more

Wondering whether you must file a trust tax return for a bare trust for the 2023 tax year? The Canada Revenue Agency updated its guidance on March 28, 2024, to say that bare trusts are exempt from trust reporting requirements for 2023. That announcement eases immediate filing obligations for many people, but if you share … Read more

Wondering how to secure the best car insurance in Canada? It’s not a one-size-fits-all situation. Auto insurance rules and minimum coverages differ by province and territory, and many factors influence what drivers pay in premiums. There isn’t a universally “best” policy for every Canadian, but you can find the best policy for your needs. Whether … Read more

Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, summarizes recent financial headlines and provides perspective for Canadian investors. You can’t handle the truth—Truth Social This week many headlines announced that “Trump’s social media company will trade on the Nasdaq.” The reality is more complex than the sensational headlines … Read more