RESP

Comeback moms

For many women, returning to work doesn’t come with the same high in their bank accounts before their little ones came along. In fact, the Royal Bank of Canada estimates women are paid less for up to five years after giving birth, and a study from L’Université du Québec à Montréal says it t ...

A guide to the best robo-advisors in Canada for 2020

The robos are everywhere. What was once a little-known investing tool for tech-savvy investors is now commonplace, with everyone from newbie savers to retired boomers using robo-advisors to help manage their money.  While advisors and traditional fund companies still manage the majority of money i ...

Retirement strategies to keep more money in your pocket

Q. I retired seven years ago, when I was 55. I’d like to run projections and analyze the best way to draw down my RRSPs with the least amount of taxes payable. Is there a software package you’d recommend that can do this? Here are some other details about my financial circumstances. I have no c ...

Tax Hacks. Top 6 Tips to Get the Most out of Tax Season

Are you leaving money on the table when it comes time to file your taxes? Lots of people do. They leave that ratty pile of receipts in the drawer (where they left them last year, too). And they don’t take full advantage of the deductions to which they are entitled.Let’s get your taxes done righ ...

“We had our kids late—will we ever be able to retire?”

Natasha Hall was 40 years old when she became a parent. The broadcaster and radio host, who had been in a long-term, committed relationship, figured it was now or never. “I always knew I wanted to be a mom but I couldn’t quite get my act together to settle down properly, and my guy was kind of ...

Questrade vs. Wealthsimple: which online investing service is right for you?

If you’ve decided to try out online investing and have narrowed down your choices to Wealthsimple and Questrade—congratulations! Both are solid Canadian options that can help you grow your money and achieve your investment goals. But choosing between the two can be tricky. While the two financi ...

How should a 24-year-old invest now to minimize taxes in the future?

Q. I’m 24 years old and have a dilemma. I have made the maximum contributions to my Tax-Free Savings Account (TFSA) every year, and now I’m wondering what money moves I should make next. By that, I mean what is the best investment route for me at this stage of my life so that I pay the least am ...

7 ways to prepare for retirement

1. Face the facts Saving for retirement is always a challenge. But a number of factors have added up in recent years that make it even tougher on those entering or preparing to enter retirement. Jonathan Chevreau, Retired Money columnist for MoneySense, says the strength and predictability of defin ...

One for the money

For Megan*, having control over her money after her divorce brought some sense of relief. As the sole breadwinner near the end of her marriage, she says her biggest financial weakness was her ex, an excessive spender. “I’ve always paid off my credit card bills every month and put 10% of my pay ...

What’s the best way to pay for a master’s degree in the U.S.?

Q. My daughter, Sonia, is 27 years old with a bachelor’s degree in English from a Toronto university. Needless to say, she is currently not working in the field that she was trained in. She thinks going back to school would enhance her employability in the writing and publishing industry, so she ...