The technology sector has drawn strong interest from Canadian investors in recent years, driven by rapid global adoption of new technologies, frequent product innovation, rising revenues and notable stock-price gains. That enthusiasm, however, has made some investors wary of missing out. Technology shares have also been volatile: the tech-heavy NASDAQ index fell about 33% in … Read more

Fareed Ahamed, an investment adviser in Vancouver, opened a tax-free savings account (TFSA) in 2009 when the federal government first introduced the vehicle. He contributed about $15,000 and, through active trading over the next few years, grew that balance to more than $600,000 by the end of 2011. Ahamed focused on speculative, short-term trades—mostly penny … Read more

Ask MoneySense I cashed in my whole life insurance policy last year and received a T5 suggesting I have to pay tax on the full amount of my cash value. Is this correct? The cash surrender value was $27,000, I paid $28,000 in premiums, and they told me my pure cost of net insurance was … Read more

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, summarizes current financial headlines and explains what they mean for Canadian investors. BoC pauses rate hikes and forecasts 3% inflation this year On Wednesday, the Bank of Canada (BoC) chose to hold its key policy rate at 4.5%, continuing its effort … Read more

Think of the Bank of Canada (BoC) as the central force guiding interest-rate direction across the economy. When the BoC adjusts its overnight rate, banks and other lenders generally follow by changing their prime rates and lending terms. That ripple affects everything from what you earn on savings to what you pay on a mortgage … Read more

Ask MoneySense I lost $20,000 in my TFSA account in the market correction, and my broker sold the losing stocks. Can I put more money in to bring me back up to the limit the government allows?—Wayne Capital losses in a TFSA A capital loss occurs when you sell an investment for less than you … Read more

Michelle Hung, known as The Sassy Investor, is a Chartered Financial Analyst and certified financial planner who has authored two books. She discovered her professional worth the first time she confidently asked for a raise. Her latest book, Investing for Teens: How to Save, Invest, and Grow Money (Rockridge Press, 2022), introduces young readers to … Read more

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, highlights the week’s financial headlines and explains what they mean for Canadian investors. The Shaw & Rogers merger approved — finally Federal regulators last week approved Rogers Communications’ (RCI.B/TSX) acquisition of Shaw Communications (SJR/TSX), clearing a deal valued at roughly $26 … Read more

Canadians take many different paths to prepare for retirement, but one universal need remains: a clear plan that helps you save enough to live comfortably and to produce income once you stop working. Many people still feel unprepared. A 2022 survey from the National Institute on Ageing (NIA) at Toronto Metropolitan University found that only … Read more

In their early 30s, Kristy Shen and Bryce Leung left high-paying software engineering careers to travel the world. The Toronto-based couple had saved roughly $1 million, and rather than follow the conventional path of buying a home, they packed their suitcases. They chronicled their adventures and outlined their investing approach on the blog Millennial Revolution. … Read more