Ask MoneySense Is it a good idea to use my RRSP savings to pay off my mortgage, then resume putting the former mortgage payment amount back into the RRSP once the loan is gone? What are the advantages and disadvantages of doing this to become mortgage‑free? –Mike Should you pay off a mortgage with RRSP … Read more
Your net worth is the value of your assets minus your liabilities. Both investing and repaying debt can increase net worth, but which approach is better depends on your goals, tolerance for risk, tax situation and timeline. This guide looks at the key considerations—mortgages, RRSPs, TFSAs, down payments, borrowing to invest, and choices for retirees … Read more
The U.S. Securities and Exchange Commission has filed a civil lawsuit against billionaire Elon Musk, alleging he failed to disclose his ownership of Twitter stock on time in early 2022, prior to acquiring the company. The suit claims that by delaying required disclosure, Musk gained a financial advantage when he bought additional shares after the … Read more
Welcome to the Canadian Crypto Observer. Financial journalist and author Aditya Nain offers perspective on market-moving headlines to help Canadian investors navigate the cryptocurrency market. It’s 2025 and bitcoin is (still not) dead Something curious and telling happened in 2024: commentators declared bitcoin “dead” only twice, compared with 124 such obituaries in 2017. That decline … Read more
Half of Canadians report they are within $200 or less of being unable to pay their monthly bills and debt obligations, according to MNP Ltd.’s latest quarterly report on consumer debt. The findings underline how fragile many households’ finances remain, even as interest rates have fallen from recent highs. “Even with interest rates easing, people … Read more
Ask MoneySense With so much advice about estate planning for RRSPs and TFSAs, practical guidance on non-registered brokerage accounts can be harder to find. I’m looking to draw down my RRSPs and RRIFs tax-efficiently so the surviving spouse doesn’t face a large tax bill. I’ve been told you can’t name a beneficiary on a non-registered … Read more
Ask MoneySense My husband and I are retired. Together we hold about $200,000 in Tax-Free Savings Accounts (TFSAs), and roughly $230,000 in Registered Retirement Savings Plans (RRSPs) and Registered Retirement Income Funds (RRIFs). We also have an emergency fund and a household income of about $85,000 per year. Because my husband may require nursing-home care … Read more
When Jessica Moorhouse was in her twenties, her fitness routine relied on workout tapes she borrowed from her father and a single pair of running shoes she used to circle the block. “Sometimes you have to get creative when the money is not there,” says the Toronto-based personal finance expert and author of Everything but … Read more
Aritzia Inc. reported a sharp rise in net income as its online business and U.S. operations delivered strong results, even as parts of the Canadian market showed signs of softness. The Vancouver-based fashion retailer said third-quarter net income climbed to $74.1 million, up from roughly $43.1 million a year earlier — an increase of nearly … Read more
Many Canadian credit cards include built-in travel insurance benefits—examples include emergency medical coverage, trip cancellation protection and flight delay reimbursement. These features can protect travellers from costly, unexpected expenses. Below is a curated list of travel-insurance credit cards in Canada, with key benefits, fees and important details to help you compare options. Best travel insurance … Read more