Guaranteed investment certificates (GICs) provide a low-risk way to grow your savings with the assurance that your principal will be returned along with earned interest. GICs typically pay higher interest than regular savings accounts, a gap that has widened since the Bank of Canada’s recent rate increases. While GIC returns usually trail long-term stock market … Read more

Ask MoneySense My wife and I each receive roughly $2,500 a month in pension income. We also each hold about $75,000 in our TFSAs and around $180,000 in our RRIFs. I’ve generally avoided bonds and for several years have favoured higher-yield stocks and ETFs. That strategy has worked well, supplementing our pensions and enabling us … Read more

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, rounds up the week’s financial headlines and explains what they mean for Canadian investors. Inflation and interest rates continue to dominate Inflation and central bank policy remain the primary forces shaping markets in Canada and the United States, and each central … Read more

Have you ever wondered why you hold certain attitudes or beliefs about money? Many of these views come from past experiences that shaped how you think about finances and influence the decisions you make today. These pivotal moments—often emotional and memorable—are called financial flashpoints, and they can profoundly affect how you manage money. What are … Read more

Ask MoneySense I have stocks in my TFSA as well as some that are non-registered. I am at the point in my life (retired) now that I’d like to begin selling them and using the money. Do I sell from the TFSA account or just from the non-registered portfolio? —Catherine TFSA versus non-registered withdrawals in … Read more

If your partner were to die tomorrow, how confident would you feel about handling your finances alone? A survey commissioned by my company, Willful, and Angus Reid found that among Canadians in married or common-law relationships, women are far more worried than men about being left with financial problems: 60% of women versus 44% of … Read more

When it comes to money and personal finance, women still face systemic disadvantages—and many are understandably fed up. The five books reviewed here are aimed at shifting that balance by giving women practical tools to build, protect and grow their wealth. Whether you’re coping with job loss, debt, divorce, parenthood or global disruption, these clear, … Read more

Ask MoneySense I carry a lot of credit card debt and haven’t made a dent in my mortgage. I’m in my 60s, and I’m starting to think about next steps for my family. After I die, will my family inherit my debt?—Terry Thank you for your question, Terry. Worrying about how outstanding loans will affect … Read more

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, summarizes the latest financial headlines and explains what they mean for Canadian investors. Canadian banks absorb higher costs and collect a recovery dividend Canadian banks are facing a number of pressures right now. Interest-rate uncertainty is slowing economic activity and prompting … Read more

There is a piece of financial advice repeated so often because it works: pay yourself first. If you wait until the end of the month to save whatever remains, too often there will be nothing left. Prioritizing savings at the start of each pay period makes it far more likely you’ll reach your financial goals. … Read more