Cryptocurrencies have surged in popularity in recent years. While Bitcoin still dominates the market, a growing number of altcoins—smaller digital currencies—are gaining attention and market value as both retail and institutional investors increase adoption. As digital currency becomes more mainstream, investors now weigh Bitcoin against a diverse set of alternatives when deciding how to build … Read more

I want to invest in crypto, but I’m worried about its long-term prospects since it’s not widely used as currency. When do you think we’ll be using crypto like cash, and which cryptocurrencies are mostly likely to survive?—Denise Which crypto should I buy today for the long term? Denise, thanks for the thoughtful question. You’ve … Read more

You can’t open a news site, watch a video or scroll through social media without seeing references to bitcoin, ethereum and a growing list of other cryptocurrencies. Friends and family may be talking about crypto investments, and headlines frequently highlight big price moves and new blockchain projects. Whether cryptocurrency becomes a dominant financial system remains … Read more

If someone owns a second property, what can they deduct? Can they deduct the cost of purchasing or renovations?—Nicole The types of expenses you can deduct for a second property If you own a second property and use it to generate income — for example, by renting it out — many of the costs you … Read more

I own a 2002 Volkswagen Beetle with just 112,000 km on the odometer. The catalytic converter has rusted through and must be replaced (it wasn’t stolen). Volkswagen’s original part is about $3,000 while a reputable aftermarket unit, such as Walker, costs roughly $500. What rules govern catalytic converter replacement, and what should I consider when … Read more

Most people expect to live a long life, and for the majority that’s true. However, if you have dependents, securing their financial future with life insurance is a sensible step—especially if you’re young and healthy. Your age has a major influence on the kind of policy you should choose and how much you’ll pay in … Read more

What should I expect from the Canada Revenue Agency if I sold my $2‑million property to one of my three farming sons for $1 to avoid paying capital gains tax? I bought the land myself in 1968 for $2, and I sold it in 2022 for $1. I have used the land for hay and … Read more

One of the primary tax advantages of owning real estate in Canada is the principal residence exemption, which allows an individual homeowner to shelter unlimited capital gains on the portion of a property’s appreciation attributable to personal use. There are important exceptions: for example, land exceeding half a hectare (about 1.24 acres) generally jeopardizes the … Read more

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, reviews this week’s top stories and explains what they mean for Canadian investors. Is beating the bank easier than fighting the Fed? Canada’s central bank — the Bank of Canada (BoC) — operates in a world heavily influenced by the U.S. … Read more

Pretty much every Canadian has a bank account. So it makes sense to ensure that you have the best savings account for you (and chequing too) by shopping around. If you’ve decided to move on from your current bank, it’s important to close your old account carefully so nothing gets lost in the transition—overdraft fees, … Read more