Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares the week’s financial headlines and explains what they mean for Canadian investors. The CEO of ChatGPT is out… and back in!? OpenAI’s CEO Sam Altman experienced a dramatic week that captured global attention. What began as an abrupt leadership … Read more

When extended family gatherings grow larger or children reach a certain age, many Canadian families set rules around gift giving—limits on spending, gifts only for kids, or themed exchanges. Lately, some households are taking it a step further and opting out of gift exchanges entirely. The reason is simple: rising costs are squeezing budgets. A … Read more

The Toronto real estate market has seen extraordinary growth over the past two decades. According to the Toronto Real Estate Board (TRREB), the average home price in Toronto rose 489% between 2000 and 2022. That sharp increase has intensified concerns about housing affordability and the prospects for future homeowners in the Greater Toronto Area. Find … Read more

Bills keep arriving: groceries, utilities, gas and more. Many Canadians are feeling the strain as the cost of living rises, but small daily pleasures—like your morning cappuccino—don’t have to disappear. There are practical ways to reduce recurring expenses without giving up the things that matter. “I want people to really look at their big expenses … Read more

The classic Canadian cottage is more than a building — it represents family rituals, summer retreats and memories that span generations. But over time, passing that legacy on can become complicated. Family disagreements, financial realities and different expectations among heirs all make cottage succession a delicate process. How can owners ensure their holiday home endures … Read more

In late 2020, five-year guaranteed investment certificates (GICs) from major banks were paying under 1%. Fast forward three years and five-year bank GIC rates have climbed above 4%. Some credit unions and trust companies are now offering short-term GICs that pay more than 6%, while four- and five-year terms are generally just under 6%. These … Read more

Canadians have several ways to file their income tax returns: hire an accountant, use a tax preparation company, enter information into tax software, or complete and mail a paper T1 General to the Canada Revenue Agency (CRA). This article focuses on popular online options available in Canada—H&R Block, Wealthsimple Tax, Intuit TurboTax, UFile and GenuTax—so … Read more

Canadians have been debating whether a recession is underway for months—ever since the Bank of Canada began raising interest rates in March 2022. So what’s the verdict: are we in a recession? According to Frances Donald, global chief economist and strategist for Manulife Investment Management’s multi-asset solutions team, the answer is “technically, yes.” Speaking at … Read more

Ask MoneySense I’m undecided. I currently have a promotional rate of 5.25% and I’m about to open a Tangerine account to take advantage of a 6% promotional rate. Many people suggest investing this money in the stock market for higher long‑term returns. But a guaranteed return with no apparent downside and monthly interest payments feels … Read more

powered by Mortgage affordability is a key step in planning your home-buying budget. It estimates the largest mortgage you can responsibly take on based on your income, monthly debts and the costs of owning a property. Before you search listings or speak with a lender, use an online affordability calculator to get a realistic picture … Read more