Many people know life insurance matters, but protection against an illness or injury that prevents you from working can be even more vital. According to the 2017 Canadian Survey on Disability, about one in five working-age adults (ages 25 to 64) has a disability. That makes planning for a loss of income essential for financial … Read more

Allan Small, Senior Investment Advisor at the Allan Small Financial Group with iA Private Wealth, reviews recent financial headlines and explains what they mean for Canadian investors. No surprise: Canada’s inflation rate edged higher in August Canada’s annual inflation rate rose to 4.0% in August from 3.3% in July, marking the highest reading since April, … Read more

In a previous MoneySense column I explored how shifting spending from things to experiences can create deeper, longer-lasting satisfaction. Here’s a personal example that puts that idea to the test. Before I dive in, think back to your favourite concert: who was on stage, where were you, who was beside you, what opened the show … Read more

Canadians seeking help with managing debt can turn to credit counselling services that offer group seminars, courses and one-on-one counselling. Both not-for-profit and for-profit organizations provide these services, and there are important differences to understand when choosing the right help for your situation. Not-for-profit debt counselling Not-for-profit debt counselling agencies are usually registered charities with … Read more

Apple unveiled the iPhone 15 family — the iPhone 15, iPhone 15 Plus, iPhone 15 Pro and iPhone 15 Pro Max — on Sept. 12. The Pro models introduce a new, lighter chassis made from aerospace-grade titanium and a customizable Action button that can be set to record voice memos, toggle Focus modes like Do … Read more

If you’re ready to buy your first home but need help with financing, one option is to ask someone to co-sign the mortgage. Turning to a third party may not be the plan you imagined when you dreamed of owning a home, but higher interest rates and rising housing prices have made it harder for … Read more

Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors. U.S. inflation battle: Mission not accomplished Despite rising interest rates and hawkish remarks from U.S. Federal Reserve Chair Jerome Powell, the American economy is still showing surprising resilience. The U.S. Consumer … Read more

Short-term disability (STD) insurance replaces part of your income for a limited time if illness, injury, accident or hospitalization prevents you from working. Employers often include STD as part of workplace benefits. It is not the same as employment insurance (EI), which serves a different purpose and has different eligibility rules. Many Canadians do not … Read more

Ask MoneySense I have a 78-year-old mother, and most of her wealth is tied up at the bank. What changes could we make to avoid probate on her future estate? –Laura What is probate? Thanks for your question, Laura. Probate is a legal process that governments use to confirm a deceased person’s will and authorize … Read more

Paying less tax means keeping more of your investment gains. One of the most effective ways to do that in Canada is by using registered accounts such as the Tax-Free Savings Account (TFSA) and the Registered Retirement Savings Plan (RRSP). New or younger investors often start with a TFSA because contribution room is not tied … Read more