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

Money scripts are the underlying beliefs, emotions and automatic thoughts we carry about money. They aren’t created overnight — they develop over years, often beginning in childhood and shaped by parents, grandparents, cultural norms and long-standing family habits. When these scripts go unquestioned, they stay in the unconscious and can push us toward financial behaviours … Read more

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, highlights key financial headlines and provides context for Canadian investors. Freeland targets Canadian banks again The federal budget unveiled this week includes several headline-grabbing items, but two lesser-noticed measures could have a meaningful impact on Canadian investors: a new tax treatment … Read more

The annual federal budget introduces new policies, tax measures and fiscal updates that can affect household finances. Below is a clear summary of the key measures from the 2023 budget that are likely to become law and could influence your financial planning, taxes and savings strategies. A one-time grocery rebate for GST credit recipients To … Read more

Ask MoneySense I have named my three adult children as the beneficiaries of my RRIF account. Will this account be rolled over to them on a tax-free basis?–Bob Can you name a beneficiary on a RRIF? Thanks for your question, Bob. A registered retirement income fund (RRIF) is one of Canada’s registered retirement accounts, alongside … Read more

Becoming a homeowner is a major milestone many young adults hope to reach, yet it can feel out of reach. A recent study found that 43% of Canadians plan to buy a home within five years, but nearly one quarter of those hopeful buyers have not started saving for a down payment. That includes many … Read more

From the moment you drive a new car off the lot, it starts losing value. Car depreciation — the gap between what you paid and what you can resell it for — is an inevitable part of vehicle ownership. While you can’t eliminate depreciation, you can reduce its impact by choosing the right vehicle and … Read more

Ask MoneySense I’m a Canadian citizen who moved from Europe two years ago. I have savings in euros and I’m thinking of investing roughly €50,000 in VWCE. I expect this could complicate my Canadian tax filing. Are the added complications worth it? What would you recommend? —Sam* Investing in foreign ETFs as a Canadian If … Read more