Late in September, Sun Life introduced MyRetirementIncome, a decumulation solution aimed at helping retirees move from accumulation to regular income. The product joins a small but growing group of Canadian offerings, including Guardian Capital’s Glidepath and the Purpose Longevity Fund, and resembles asset-allocation exchange-traded products such as Vanguard’s VRIF (Vanguard Retirement Income ETF Portfolio). Sun … Read more

Like many people from Ontario, I was drawn to the “Alberta Is Calling” campaign and moved from Toronto to buy a condo in Calgary last year. Prices in the prairies were roughly half those for comparable properties in the Greater Toronto Area, and buying seemed like the only realistic path to home ownership. But qualifying … Read more

Many Canadian companies are far smaller than global giants such as Amazon, yet an important shift is underway: well-known Canadian brands increasingly behave like portfolios of financial assets rather than pure producers of goods and services. While consumers tend to think of companies in terms of the products and services they buy, many firms now … Read more

Perhaps you’re newly single, or you’re managing your finances independently for the first time. Whatever your situation, it can feel like a puzzle: how does a woman without a partner to share bills with consistently find money to invest each week or month? More women live alone now—the number has doubled in the past two … Read more

Ask MoneySense We are a couple in our late 50s with no children. We own our home outright and carry no debt. Both of us will receive pensions in retirement, but my spouse’s pension will be roughly double mine. Our RRSP savings are modest. We have just inherited $200,000. Conventional wisdom suggests putting inheritance proceeds … Read more

Orlando, Florida, is an expensive destination: a family of four can easily spend a thousand dollars a day on theme-park tickets, food and extras. That reality makes many family trips to Orlando feel like once-in-a-lifetime events. Still, Orlando remains hugely popular—Canada sent a record number of visitors in 2023—because the city’s parks, restaurants, shopping and … Read more

Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, summarizes the week’s financial headlines and provides context for Canadian investors. High rates be gone! The Bank of Canada cut its key policy rate from 4.25% to 3.75% this week, a 50 basis point move — the largest single reduction … Read more

Equifax Inc. is introducing a new program designed to help newcomers to Canada bring their foreign credit histories with them. The credit reporting firm announced that its Global Consumer Credit File will supply additional credit data to Canadian lenders and service providers, making it easier for immigrants to qualify for everyday services such as loans, … Read more

Many retirees know the frustration of being “house rich and cash poor.” Years of mortgage payments have left you with substantial home equity, but your monthly income may no longer cover large expenses. If you’re living on a fixed income, the idea of renovating can feel out of reach—basic updates might cost a few thousand … Read more

The Bank of Canada (BoC) has accelerated its easing campaign, delivering a significant rate cut that will ease borrowing costs for many Canadians. Today the central bank lowered its benchmark overnight rate by 0.50 percentage points to 3.75%, down from 4.25%. This marks the fourth consecutive reduction since the BoC began cutting on June 5, … Read more