Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, summarizes this week’s financial headlines and provides context for Canadian investors. Trump tariffs mean four years of economic chaos The Canadian economy was jolted again this week by the prospect of sweeping tariffs from the incoming U.S. administration. Memories of … Read more

Exchange-traded funds have long been the go-to choice for investors who want a low-cost, passive way to track broad benchmarks such as the S&P 500, while mutual funds have traditionally been favored by investors seeking active, hands-on portfolio management. Now, active ETFs—funds where managers try to outperform an index through stock selection and strategic positioning—are … Read more

Justin Dallaire joined the MoneySense team three years ago, bringing extensive experience in business reporting. He manages several of the publication’s signature features, including the annual Where to Buy Real Estate list, the first-time home buyer guide, credit card rankings and a wide selection of mortgage and insurance articles. A journalism graduate of Toronto Metropolitan … Read more

A recent EY Mobility Consumer Index study shows a renewed interest in buying a new vehicle overall, but fewer Canadian drivers now plan to choose an electric vehicle for their next purchase. The report finds overall intentions to purchase a new car rose by 6% year‑over‑year, yet interest in electric and electrified vehicles has softened. … Read more

Almost everyone who freelances, consults, contracts or starts a small business in Canada eventually asks the same question: do I need to incorporate? The short answer is no. You don’t have to incorporate to operate as a self‑employed individual. If you provide a product or service and invoice your clients, you can run your business … Read more

Conversations about money often carry a lot of emotional weight. According to the 2024 Financial Stress Index, 44% of Canadians say money is a major source of worry, and nearly half report losing sleep over financial concerns. Financial disagreements are also a common reason marriages break down, and professionals who work with clients’ finances frequently … Read more

Canadian consumer debt climbed to a record $2.5 trillion in the third quarter, as many households continue to grapple with the cost of living and a weakening job market, according to new reports from two major credit bureaus. Equifax’s quarterly analysis, released Tuesday, shows the largest increase in missed payments among newcomers and people who … Read more

Ask MoneySense I have a RRIF that is worth approximately $250,000 at the moment. My two children are the beneficiaries. Obviously, I am hoping to somehow reduce any tax on this RRIF income when I die. Is my taking more out of the RRIF and paying the tax each year the best way to do … Read more

Ask MoneySense I’m turning 65 in March 2025 and plan to continue working. How much can I make per year before my OAS pension gets reduced? —Cindy OAS and supplemental income Good question, Cindy. The amount of Old Age Security (OAS) you receive can be reduced if your total net income from all sources is … Read more

Buying life insurance in your 20s can seem like another expense on an already tight budget, but financial professionals say it can provide important protection for your loved ones and offer long-term advantages if circumstances change. Do young Canadians need life insurance? There can be a significant, if temporary, need for life insurance among younger … Read more