Two readers ask financial experts how to handle a defined contribution (DC) pension when retiring. Below are practical, plain-language answers about options, costs and what to consider before moving funds out of an employer plan. What to do with a DC plan when you’re about to retire Ask MoneySense My husband has a DC Registered … Read more

If you currently subscribe to Netflix’s Basic plan, you can continue to use it—but if you don’t already have that plan, you can’t sign up for it anymore. In mid to late June, Netflix quietly removed the Basic plan from the list of options for new and returning members. The change went largely unannounced, but … Read more

This week, Cut the Crap Investing founder Dale Roberts reviews the latest financial headlines and provides context for Canadian investors. Is it a bear trap or a long-term bull market? The market story over the past months has largely been about interest rates moving in slow motion. Consumers are eager to spend on experiences—travel, dining … Read more

If you’re approaching the age when you must close your registered retirement savings plan (RRSP), it’s a good time to consider annuitizing at least part of your savings. Canadian law requires RRSPs to be closed by the end of the year you turn 71. Because cashing out and paying tax on the entire balance is … Read more

In Canada, estate planning is sometimes thought of as a formal, complicated process only for the wealthy. In reality, it’s a practical and important task for people of all ages, incomes and family situations. A clear estate plan gives you control over what happens to your assets, protects those you care about, and makes sure … Read more

In a world obsessed with saving money (which is important), I propose we also focus on how we spend it. Rather than treating saving and spending as opposites, we can use our spending to cultivate real joy and lasting satisfaction. If the “don’t spend” message of frugality frustrates you, consider a different approach: purchases can … Read more

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, summarizes this week’s financial headlines and explains what they mean for Canadian investors. The U.S. Fed pauses rate hikes—for now On Wednesday the U.S. Federal Reserve halted its streak of interest-rate increases after 10 consecutive months of hikes that had tightened … Read more

What should Canadian investors be buying right now? The answer may surprise some: utilities. In a market marked by persistent volatility and a steady stream of negative headlines, many investors are turning to defensive, income-generating sectors. Utilities—companies that provide electricity, natural gas, water and related services—offer predictable cash flows, regulatory protections and steady demand, making … Read more

It’s been an eventful year for personal finance: rising interest rates, volatile markets and shifting government programs all affected Canadians in 2022. With tax season approaching, this MoneySense 2022 Income Tax Guide for Canadians summarizes the key dates, changes and practical steps to help you file accurately and minimize what you owe. Below is a … Read more

Ask MoneySense My question is in regards to a spousal RRSP that I have set up for my wife years ago. When she turns 71, do we have to turn it into something like a RRIF, which I did for my RRSP (I am older than her) and then withdraw from it annually? Or, could … Read more