Exchange-traded funds (ETFs) suit investors at every stage of life, but they can be particularly useful for retirees and those approaching retirement. ETFs offer easy, cost-effective diversification across asset classes and geographies, which helps reduce the risk of being overly exposed to any single stock. That said, concentration risk still exists—sector and theme ETFs (for … Read more

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, summarizes key financial headlines and explains what they mean for Canadian investors. Inflation isn’t slowing down yet Tuesday’s 3.3% inflation reading from Statistics Canada complicates the Bank of Canada’s path forward. While inflation fell steadily over the past year—from a peak … Read more

As the cost of living rises across Canada, having a practical savings plan matters more than ever to ensure financial comfort in the future. Many people aren’t sure where to begin, and overly strict or vague plans can derail progress. The key is to adopt flexible strategies that suit your lifestyle and goals. “The most … Read more

Shane Murphy is the CEO of Ownr, the platform that has simplified incorporation, registration and compliance for more than 100,000 Canadian entrepreneurs. Before becoming Ownr’s CEO, Murphy founded Founded Technologies, a company focused on automating legal tasks for businesses—such as incorporations—which Ownr acquired in 2020. Below, Murphy shares his approach to finding meaningful work, why … Read more

Life insurance highlights Life insurance is a contract between you and an insurer that provides a financial benefit to your named beneficiaries in the event of your death. In Canada, common policy types include term life, whole life and universal life, each with distinct features and uses. See the types section below for details. To … Read more

Ask MoneySense My 2020 Bolt EV was included in the August 2021 battery recall announced by General Motors. At the time I followed GM’s recommendations: I limited charging to 80%, avoided deep discharges and parked outdoors. I accepted reduced range and the uncertainty of a possible battery fault because the battery maker, LG Chemical, was … Read more

Asking rents across Canada reached record highs in mid-2023, putting added pressure on tenants in large cities and smaller communities alike. One-bedroom rents in British Columbia averaged $2,297 per month—the highest in the country—while national asking rents rose about 9% year-over-year. These cost-of-living increases and strong rental demand make it harder for both new and … Read more

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, summarizes this week’s financial headlines and provides context for Canadian investors. Markets cheer lower inflation—then trim gains The Dow Jones Industrial Average jumped more than 400 points on Thursday after the U.S. Bureau of Labor Statistics reported that the consumer price … Read more

Canadians faced a sharp cost-of-living squeeze in 2023. Although inflation eased to 2.8% in June, the steep price rises of 2022 and early 2023 left essentials such as groceries much more expensive for many households. At the same time, the Bank of Canada’s efforts to curb inflation pushed borrowing costs to levels not seen in … Read more

Kristine Beese didn’t set out to shake up Canada’s financial planning industry. She began her career as an engineer in the oil and gas sector, but after a negative experience with a bank financial advisor, she decided to learn how to manage her own investments. Beese returned to school, earned an MBA and transitioned into … Read more