Equity market volatility can prompt even experienced investors to act hastily. Sharp market swings often trigger emotional responses—buying at highs out of fear of missing out or selling in panic to limit losses. These instinctive moves rarely help long-term financial goals. Emotion is an investor’s enemy: impulsive choices can undermine portfolio performance over time. Removing … Read more

Ask MoneySense If I retire in Europe, can I keep my current investment accounts, and is it more tax-efficient to keep my accounts in Canada or move them to Europe?—Aida How non-resident retirees are taxed in Canada and abroad Canadian residents pay tax on worldwide income. If you leave Canada and establish your main home … Read more

Ask MoneySense Now seems like a good time to take advantage of a welcome offer on a new credit card. What happens to my credit score when I open and close credit cards? —Charlie How changing credit cards affects your credit history Thanks for the question, Charlie. It’s wise to consider how applying for, opening … Read more

The second phase of the Canada Pension Plan (CPP) enhancement took effect in January 2024, bringing the final increase in CPP contributions for most Canadians. This multi-year federal effort, introduced in 2016 and implemented from 2019, raises contribution rates and adjusts pensionable earnings to help Canadians secure more stable retirement income. The 2024 changes introduce … Read more

Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement-planning course, reviews financial headlines and provides context for Canadian investors. Bitcoin goes mainstream—the exact stream that was supposed to run dry A few years ago, bitcoin advocates positioned the cryptocurrency as a way to bypass traditional financial institutions: peer-to-peer trading, self-custody and … Read more

Taxes are an inescapable part of life in Canada. Many people don’t closely track the federal and provincial tax brackets that determine how much tax they owe. Yet knowing which brackets apply to your income is essential for estimating your 2023 tax liability—especially if you’re self-employed or earning money from a side gig and responsible … Read more

If you carry a mortgage or have been trying to enter the housing market, you’ve likely seen interest rates climb sharply over the past two years. Both fixed and variable mortgage rates reached levels not seen in recent memory, prompting many buyers and existing mortgage holders to choose fixed terms to avoid further increases. At … Read more

Many Canadians today feel that major life milestones—like buying a house or starting a family—are increasingly out of reach. Rising inflation and other economic pressures have pushed the cost of everyday items such as groceries and cell phone plans higher, and higher interest rates have made borrowing for credit cards, loans and mortgages more costly. … Read more

Ask MoneySense Could you please confirm if I can apply a loss on the sale of investment securities in 2023 to a capital gain on the sale of an investment property in 2022, and claim a refund of part of the capital gains tax paid in 2022? —Ramesh Capital loss carry back: How it works … Read more

Ask MoneySense I invested $60,000 for my son in ETFs on my own. Then the market crashed, and he needed his money for a condo closing. I had to borrow from my HELOC to return his money and am paying close to $400 in interest each month. If I sold the ETFs, they would have … Read more