Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, summarizes the week’s financial headlines and provides context for Canadian investors. Inflation still elevated — prices 6.9% higher year over year Statistics Canada reported this week that consumer prices are rising at the same pace as last month. That means inflation … Read more

Canada is a welcoming and diverse country—which may be one reason you chose to move here. At the same time, newcomers must be aware of a high cost of living and substantial income taxes (high earners can face marginal rates up to about 54%). Current inflation, along with rising housing and energy costs, makes financial … Read more

When you are a new driver, insurers generally consider you a higher risk than drivers with many years of experience. Collision risk is highest in a driver’s first year and decreases with experience. As a result, new drivers—especially teenagers—often pay the highest auto insurance rates in Canada. So how does attending driving school affect your … Read more

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, summarizes the week’s financial headlines and explains what they mean for Canadian investors. Cooling inflation leads to a red-hot day for the markets News from the United States often dominates North American markets, and this week was no exception. October’s U.S. … Read more

It may seem like ancient history now, but bitcoin (BTC) — the world’s first cryptocurrency — has only existed since 2009. The journey since then has been volatile, yet bitcoin has shown resilience and inspired a vast ecosystem of other digital tokens and blockchains. These alternatives, commonly called altcoins, now represent a significant portion of … Read more

My husband and I have a modest portfolio of just under $700,000—no company pension. My husband is 79, and I am 66. We have only taken the minimum out of our RRIFs—my husband’s amount has always been based on my age. Over the past few years we haven’t had to pay taxes, as I am … Read more

I would like to leave my grandchildren, aged two and four, money from my estate. But more importantly, I would like to leave my home to my grandchildren, valued at over $1 million. What is the best way to do that? —Suniel Can a minor own real estate?—and more estate questions Thanks for writing in, … Read more

I am wondering about the minimum RRIF withdrawal calculation. We are wondering if it would be beneficial to use the younger spouse’s age to result in a lower annual combined income. Can you explain the reasoning behind this?—Bernie When can you convert an RRSP to a RRIF? Registered Retirement Savings Plans (RRSPs) are tax-deferred accounts … Read more

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, reviews the week’s financial headlines and puts the news into context for Canadian investors. Don’t call Shopify a comeback—it’s been here for years The U.S. Federal Reserve raised interest rates on November 2 by 0.75%, bringing the target range to 3.75%–4%—the … Read more

Vasek Pospisil began treating tennis like a full-time pursuit at the age of six and has since pursued excellence on and off the court. He has competed at the Olympics, Wimbledon, the U.S. Open and at the Tel Aviv Open, where he faced Novak Djokovic in a high-profile quarter-final. You can watch him play in … Read more