I’m hoping someone can give me advice about my mother’s accounts. She is 87, has dementia and lives in a care facility. I hold her power of attorney and am named as executor. She currently has about $250,000 in bank accounts and GICs. Should a small portion be gifted to each child now as a … Read more

There are many reasons someone might consider buying a second home. You might want a place for a family member to live—such as your daughter while she attends university—or a condo to use during the workweek when you need to be downtown. Before you commit, though, it’s important to determine whether you can truly afford … Read more

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, summarizes recent financial headlines and explains what they mean for Canadian investors. The inflation mountain: What the descent may look like There are growing signs that the 8.1% annual inflation rate recorded in June 2022 marked the high point of the … Read more

Even if you’re not actively investing in cryptocurrencies, you’ve likely heard of the two market leaders: Bitcoin and Ethereum. Together they dominate the crypto landscape, accounting for roughly 39% and 18% of the total market capitalization, respectively, with other coins trailing far behind. Ethereum, created by Russian-born Canadian programmer Vitalik Buterin and launched in 2015, … Read more

powered by Ratehub.ca If you’re buying a home in Canada with a down payment under 20%, you will likely need mortgage default insurance (often called mortgage loan insurance or CMHC insurance). This insurance protects the lender if you stop making mortgage payments or otherwise breach the terms of your mortgage, and is required by most … Read more

Life insurance is a practical way to protect your family’s financial future after you pass away. A policy can help cover funeral and burial expenses, pay off outstanding debts, and replace lost income so your loved ones can maintain their standard of living. Although thinking about life insurance can feel uncomfortable and the options may … Read more

For many Canadians, winter driving means facing some of the harshest road and weather conditions in the world for several months each year. Fitting your vehicle with a quality set of winter tires can significantly improve safety, confidence and peace of mind when you’re on the road. Whether you’re buying winter tires for the first … Read more

You may earn $48,000 a year and feel behind, but if you’ve paid off unsecured debts, that income can be far stronger than a six‑figure salary weighed down by a high debt-to-income ratio. A debt-to-income (DTI) ratio compares your monthly debt obligations with your gross monthly income. Lenders use this percentage to judge how likely … Read more

You might think all it takes to hit the open road is to pass your driver’s test and turn the key. Not so. In Canada, every driver—even a newly licensed one—must have auto insurance before legally driving. So how much does insurance cost for a new driver? If you or someone in your household is … Read more

I moved to Sweden to study in 2021 and I am no longer considered a resident of Canada (to my understanding). However, I have some money to invest. I am not allowed to contribute to my TFSA which leaves me with contributing to an RRSP or an ISK (Swedish tax efficient account). In short, you … Read more