Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, summarizes this week’s financial headlines and provides context for Canadian investors. Markets cheer lower inflation—then trim gains The Dow Jones Industrial Average jumped more than 400 points on Thursday after the U.S. Bureau of Labor Statistics reported that the consumer price … Read more

Canadians faced a sharp cost-of-living squeeze in 2023. Although inflation eased to 2.8% in June, the steep price rises of 2022 and early 2023 left essentials such as groceries much more expensive for many households. At the same time, the Bank of Canada’s efforts to curb inflation pushed borrowing costs to levels not seen in … Read more

Kristine Beese didn’t set out to shake up Canada’s financial planning industry. She began her career as an engineer in the oil and gas sector, but after a negative experience with a bank financial advisor, she decided to learn how to manage her own investments. Beese returned to school, earned an MBA and transitioned into … Read more

Michele Romanow has a disarming presence: modest, decisive and quick with a self-deprecating joke. That blend of humility, conviction and humour makes her easy to trust—even when she’s delivering tough advice. It’s also why she is so compelling on CBC’s Dragons’ Den and on her podcast, The Revisionaries 2: 70 Percent Factor, available on audible.ca. … Read more

Ask MoneySense A stock I used to own was recently sold to a private equity firm. Is there a strategy for avoiding a capital gain on a sale I did not authorize? I voted against the sale.—Mary Tax implications of acquisitions, mergers and spinoffs Several corporate transactions can create unexpected tax consequences for shareholders even … Read more

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, summarizes this week’s financial headlines and provides context for Canadian investors. Amazon primes the profit pump Big tech wrapped up a busy earnings season this week, led by a standout report from Amazon that far exceeded expectations. Apple, PayPal, and Airbnb … Read more

Ask MoneySense My friend had personal POA on her uncle, and he has died. We need to file his taxes. Does the POA still have effect for that time period? Or, is this now under the estate and to be dealt with by an executor?—S. What is a power of attorney? Thanks for your question, … Read more

I’m a mid-career financial planner, so I admit I have a personal stake in the debate about artificial intelligence (AI) and financial advice. Like many professionals across industries, I wonder whether AI might one day replace my role. The technology clearly offers powerful tools and efficiencies, but its current limitations suggest that human financial advice … Read more

Patio season is in full swing, and if your restaurant bills have been climbing, you’re not alone. Dining out has become more expensive for two main reasons: inflation and rising tip expectations—often called “tip-flation.” An Angus Reid survey from early 2023 found that 62% of Canadians report being asked for larger tips in recent years. … Read more

If you receive the Canada Workers Benefit (CWB), you’ll notice a change to how the federal tax credit is delivered: recipients will get part of the benefit earlier. Previously, the CWB was claimed when filing your income tax return for a given year (for example, claiming the 2021 CWB on a return filed in early … Read more