Toronto-based Clay Financial has started accepting applications for a new product called a home equity sharing agreement (HESA). Launched initially for homeowners in the Greater Toronto Area, the HESA offers an alternative to reverse mortgages or selling a home to downsize or rent. What is a home equity sharing agreement? A home equity sharing agreement … Read more

To mark MoneySense’s 25th anniversary, we are republishing and updating a classic piece from our June 2014 issue. Below are foundational money lessons and practical tips collected from our archives, reviewed by editors and experts, and still highly relevant today. 1. Pay yourself first One of the simplest and most powerful ways to build savings … Read more

Many Canadians purchased pre-construction homes and condos during the peak of the housing market, when historically low interest rates helped push prices higher. Now, as mortgage rates and market conditions have changed, some buyers are choosing to walk away from those contracts because the properties are worth less than the prices they agreed to pay. … Read more

Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares key financial headlines and context for Canadian investors. With the S&P 500 reaching fresh all-time highs this week and consumer sentiment turning positive, the era of the so-called “vibecession” — where negative headlines clash with improving economic data — … Read more

If you’re in a relationship, money conversations are inevitable. Since the pandemic began, couples have reported discussing finances more often; a 2021 RBC poll found that nearly half (47%) of respondents considered money one of the top stressors in their relationship. Research also shows that money disagreements are a frequent predictor of separation or divorce. … Read more

For years, the humble GIC — guaranteed investment certificate — was dismissed by many fixed-income specialists and financial advisors. That view began to change as interest rates climbed in Canada and the U.S. Over recent months, retail investors in Canada have found one-year GICs paying around 5%, with longer terms typically offering a little over … Read more

Climate change poses multiple risks for Canadians and for Canada’s economy. Beyond the immediate threats—more frequent and severe wildfires, floods and storms that endanger lives and property and can drive up home insurance costs—there are growing financial and operational pressures. Businesses now face more weather-related interruptions, from shipping delays to shortages of raw materials, and … Read more

Investing doesn’t have to be an all-or-nothing decision where your entire portfolio must match a single risk profile. Many investors prefer a “core and explore” (also called “core and satellites”) strategy, putting most of their assets into a diversified core—often broad-market index funds or all-in-one solutions—and using the remaining allocation for higher-risk, higher-reward opportunities such … Read more

One-stop shopping is attractive in many areas of life, and investing is no exception. As investors look for faster, simpler and more affordable ways to build portfolios, asset managers have introduced bundled products that handle selection, diversification and ongoing maintenance. All-in-one exchange-traded funds (ETFs) are a clear example: single funds that provide a diversified, ready-to-use … Read more

Many financial advisors caution that keeping large amounts of cash is often an inefficient way to save. With inflation steadily eroding purchasing power and interest rates remaining relatively low for many savings products, putting money to work through investments tends to make more sense for long-term goals. Holding cash also means missing out on compound … Read more