Introducing “A Rich Life,” a new column by Shaun Maslyk, Certified Financial Planner and Certified Financial Behaviour Specialist, that explores how financial psychology can help us understand our real-life money stories. Money. Money. Money… Pause for a moment and notice what you feel when you read the word “money.” That immediate reaction reveals a lot … Read more

Would Canadians have access to different account types such as GICs and self-directed investing when it comes to the new tax-free first home savings account, which is rumoured to be introduced this year? It seems this would only make sense as it’s the case with other tax-sheltered accounts (i.e. TFSA, RRSP and RESP accounts). —Rohan … Read more

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, highlights the week’s financial headlines and offers perspective for Canadian investors. Putting 2022 into context (it was pretty bad) One chart that stood out this week illustrates just how damaging 2022 was for global markets. When U.S. equity losses are combined … Read more

If nothing else, tax-free savings accounts (TFSAs) have provided plenty of fertile ground for Canadian financial writers and bloggers. Two notable examples include a Boomer & Echo post by CFP Robb Engen — also a MoneySense ETF expert panelist — comparing TFSAs and registered retirement savings plans (RRSPs), and a Cash Flows & Portfolios piece … Read more

Choosing how to save for retirement can feel overwhelming given the many investment choices available. For investors who prefer a simpler, hands-off approach, target-date funds provide a streamlined solution. These investment products let you pick a year close to when you expect to retire, then rely on professional managers to adjust your asset mix over … Read more

Can a debt collector discuss my debt with my family member? If my family member tells them that they have a copy of the letter and info about my debt and is willing to pay it for me?—Barbara What debt collectors are allowed to say With rising interest rates, inflation and increasing credit card balances, … Read more

My dealership posts an hourly labour rate of $145, but the actual rate to service the brakes on my 2019 Toyota Camry hybrid equates to $173. I am wondering if this is common practice and is it legal? I brought my Toyota in for servicing yesterday at 1:40 p.m. The work was completed, and the … Read more

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, summarizes the week’s financial headlines and offers context for Canadian investors. Before we look ahead to 2023, I want to thank writer Dale Roberts and our editorial team—Jon Chevreau, Lisa Hannam and Jaclyn Law—for covering while I was on vacation. Dale’s … Read more

I am wondering who I would reach out to for estate planning advice. I have a family member on permanent disability (independent living) and wish to arrange a trust upon my death that would not interfere with his monthly support ceiling of one thousand dollars a month (the current income is approximately one thousand four … Read more

This week, Cut the Crap Investing founder Dale Roberts reviews the notable financial headlines and provides context for Canadian investors. The round-up of returns for the year First, a look back at asset returns for 2022. Using data popularized by Liz Sonders of Charles Schwab, sector performance in the U.S. showed a wide divergence: energy … Read more