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The article "Making sense of the markets: Looking back on 2024" from MoneySense reflects on predictions made in 2024 regarding Canadian and U.S. stock exchanges, crypto, Tesla, and election outcomes. The text highlights the track record of financial gurus like Robert Kiyosaki in making accurate predictions, particularly in relation to market crashes. It also discusses the performance of various investments, such as Canadian stocks, tech stocks, and oil prices, while acknowledging the challenges faced by the Canadian economy. The article concludes by reflecting on the accuracy of predictions made for 2024 and hints at what the future may hold in 2025. [Extracted from the article]

The article "Making sense of the markets this week: December 15, 2024" from MoneySense discusses recent financial developments, including the Bank of Canada's interest rate cut, U.S. inflation increase, and U.S. earnings reports. The Bank of Canada cut its key interest rate by 0.50% due to soft labor market reports and anemic GDP growth, with a warning of a more gradual approach to future cuts. U.S. inflation rose to 2.7%, leading to predictions of a 0.25% interest rate cut by the U.S. Federal Reserve. Additionally, U.S. companies like Oracle and Costco reported solid earnings, highlighting the ongoing strength of the U.S. stock market despite economic concerns. [Extracted from the article]

The article discusses the benefits of opening a First Home Savings Account (FHSA) in Canada, emphasizing the advantages of starting one before December 31 to maximize contribution room for 2025. The FHSA allows tax-free savings for first-time home buyers, with a contribution limit of $8,000 per year and a lifetime limit of $40,000. Additionally, the article highlights upcoming changes to mortgage rules and government programs that aim to make home ownership more accessible, making it a potentially advantageous time to consider purchasing a home. [Extracted from the article]

The Bank of Canada recently announced its fifth consecutive rate cut, reducing the trend-setting overnight lending rate by 50 basis points to 3.25%. This decision was influenced by factors such as lower inflation, a cooling economy, and rising unemployment rates. While borrowers benefit from lower interest rates, investors may face challenges due to uncertainties in the market, and savers may see reduced returns on high-interest savings accounts and GICs. Overall, the rate cut is expected to impact mortgage holders, investors, and savers differently, with varying implications for each group. [Extracted from the article]

The article "Insurance for landlords in Canada: Your guide to protecting rental properties" from MoneySense discusses the importance of landlord insurance to protect against unforeseen events like property damage or accidents involving tenants or visitors. It highlights the key differences between homeowner insurance and landlord insurance, emphasizing that homeowner insurance is not designed to cover rental-specific risks. Landlord insurance typically includes liability coverage, property coverage, rental income coverage, contents coverage, equipment coverage, and additional options like overland flood insurance and legal expense insurance. Readers can quickly obtain comprehensive and low-cost landlord insurance quotes through Zensurance.com. [Extracted from the article]

In Canada, individuals with disabilities and their families can utilize a registered disability savings plan (RDSP) to save for the future. Introduced by the Canadian government in 2008, RDSPs offer tax advantages and grants to help beneficiaries grow their savings. Despite the benefits, many eligible Canadians are unaware of RDSPs, leading to missed opportunities for financial security. RDSP contributions can be made through financial institutions, and withdrawals can be made through disability assistance payments or lifetime disability assistance payments. It is important to consider RDSPs as a medium to long-term investment and be aware of the 10-year repayment rule for grants and bonds. [Extracted from the article]

The article "Making sense of the markets this week: December 8, 2024" from MoneySense discusses the recent earnings reports of Canadian banks, with TD underperforming and CIBC exceeding expectations. Dollarama also reported earnings, with Dollar Tree and Dollar General outperforming. The article also touches on insider selling trends and the decline of the Canadian dollar compared to the U.S. dollar, attributing it to various economic factors. The author, Kyle Prevost, provides insights for Canadian investors on these market developments. [Extracted from the article]

The article from MoneySense provides a list of companies in Canada that have laid off employees in 2024, including BCE Inc., BRP Inc., and Google. The job cuts are attributed to companies navigating economic challenges following the COVID-19 pandemic. Various industries, such as technology, retail, and media, have been affected by these layoffs, impacting a significant number of Canadian workers. [Extracted from the article]

The article discusses the importance of young Canadians considering life insurance to protect their family's financial interests, especially in cases of unexpected death. Buying life insurance in your 20s can lead to lower premiums and provide long-term financial security. Different types of life insurance, such as term and permanent, offer varying benefits and coverage options based on individual needs and circumstances. The article emphasizes the need for financial planning and understanding the terms and conditions of life insurance policies to make informed decisions. [Extracted from the article]

The article "Making sense of the markets this week: November 24, 2024" from MoneySense discusses various financial updates, including Nvidia's impressive revenue growth, Canadian inflation driven by food and shelter costs, Target's earnings miss, and the rise of Canadian grocery store stocks. Nvidia's earnings exceeded expectations, with a significant increase in share prices. Canadian inflation rose to 2%, primarily due to food and shelter expenses. Target struggled with sales revenue, while Walmart outperformed with consistent earnings. Canadian grocery stocks saw positive growth despite slight drops in share prices after beating earnings projections. [Extracted from the article]

MoneySense is hosting the ETFs & Investing Strategies Canada Virtual Expo on November 27, 2024, offering free tickets to attendees. The event will focus on the abundance of ETF choices available to DIY investors in Canada, exploring index-based ETFs, thematic, and sector ETFs. MoneySense will also present its annual ETF All-Stars Report, now in its 12th year, to help investors navigate the ETF market and identify worthwhile options. The expo aims to provide valuable insights into investing strategies and real estate opportunities for interested participants. [Extracted from the article]

The article discusses the reasons behind the high cost of mortgages in Canada, attributing it to the impact of Bank of Canada rate cuts on the housing market. The affordability of homes in major Canadian cities has improved due to lower mortgage rates, resulting in increased buying activity. The report provides insights into the income needed to qualify for a mortgage in different cities, reflecting changes in home prices and mortgage rates. The article also speculates on future trends in mortgage rates and housing affordability in Canada. [Extracted from the article]

MoneySense is offering free tickets to two virtual MoneyShow conferences: Commercial Real Estate for the Private Investors and ETFs & Investing Strategies Canada Virtual Expo. The Commercial Real Estate event will feature insights on market trends and tax updates, while the ETFs event will focus on navigating the abundance of ETF choices for investors. Both events aim to provide valuable knowledge from industry leaders in the respective fields. [Extracted from the article]

The article "Making sense of the markets this week: November 17, 2024" from MoneySense discusses the impact of the Trump administration on the stock market, Shopify's strong earnings performance, and the earnings reports of Canadian fossil fuel companies. It highlights the surge in stock prices following the election, Shopify's positive earnings report, and Suncor Energy's record-breaking quarterly earnings. The article also touches on Canadian blue-chip companies' earnings and an interesting IPO launch in the Canadian stock market. [Extracted from the article]

The article from MoneySense provides information on determining your Registered Retirement Savings Plan (RRSP) contribution limit. The limit is based on factors such as the maximum annual contribution room set by the Canadian government, earned income from the previous tax year, and any unused contribution room from previous years. Overcontributing to your RRSP can result in penalties, and there are options for contributing to your RRSP, such as lump sum payments or regular deposits. The article also explains the types of investments allowed in an RRSP and programs like the Home Buyers' Plan and Lifelong Learning Plan that allow tax-free withdrawals for specific purposes. [Extracted from the article]

Options trading has become popular among young investors seeking high returns quickly, but experts warn of its risks. Options are contracts to buy or sell securities at a specific price before expiration, available for various assets. While options trading has surged, it carries the potential for significant losses, making it a risky endeavor for inexperienced investors. It is advised to thoroughly educate oneself on the risks involved before engaging in options trading. [Extracted from the article]

The article discusses the importance of financial resilience and offers seven ways to take control of one's financial future. It emphasizes the need for a clear understanding of one's financial situation, creating a financial plan, tracking spending, preparing for unexpected expenses, assessing insurance needs, taking advantage of tax credits, and upgrading financial knowledge. The text also highlights the impact of inflation on Canadians' finances and the necessity of staying informed about money management. [Extracted from the article]

The article "Making sense of the markets this week: October 20, 2024" from MoneySense discusses various financial highlights from the week, including U.S. banks posting solid earnings, Walgreens cutting costs, United Airlines performing well, Netflix dominating streaming, and Canada's inflation falling below the 2% target. U.S. banks like JPMorgan, Bank of America, Wells Fargo, Morgan Stanley, Citigroup, and Goldman Sachs all beat earnings expectations, with investment banking activities driving revenue growth. Additionally, Walgreens saw a significant increase in share prices after announcing store closures to improve profitability, while Netflix reported strong earnings and membership growth. United Airlines also outperformed expectations, leading to a 13% increase in share prices. Lastly, Canada's inflation rate dropped to 1.6%, lower than the Bank of Canada's 2% target, potentially paving the way for an interest rate cut. [Extracted from the article]

When the owner of a registered retirement income fund (RRIF) passes away, the account will go to the beneficiary or successor owner with no immediate tax consequences and no probate. If the RRIF is not set up this way, there will be immediate tax consequences and the estate wishes may not be fulfilled. If no beneficiary or successor owner is named, the RRIF proceeds will pass through the estate and be subject to estate administration tax. To reduce or eliminate tax consequences, the RRIF can be left to a qualifying survivor. It is important to understand the tax implications and consider naming secondary beneficiaries. [Extracted from the article]

The Chinese government has implemented a multi-pronged fiscal and monetary stimulus to boost its economy, including cutting the reservation requirement ratio for banks, reducing interest rates for mortgages, and creating a fund for buying Chinese stocks. This move has been positively received by investors, with the CSI 300 index increasing by 4.3%. However, some analysts believe that the scale of the stimulus is still too small. In other news, Costco and Micron reported solid earnings, with Micron's share price increasing by 15% and Costco's net sales rising by 5.05% year over year. Canadian telecommunication companies, on the other hand, have seen their earnings stagnate due to higher interest rates, investments in 5G networks, increased competition, and cord-cutting. Despite this, reduced interest rates and the winding down of capital spending for 5G networks may lead to a bounce back for these companies. Overall, the markets have been performing well, with various asset classes experiencing gains and central banks providing an investment tailwind through interest-rate cuts. [Extracted from the article]

A survey conducted by MoneySense reveals that Canadians of all generations are facing financial challenges. The majority of respondents believe that Boomers had the easiest time with debt, followed by the Silent Generation. Gen Z and Millennials are seen as having the toughest time. The biggest issues facing Canadians are the cost of living and retirement, although there are some variations among different generations. Overall, Canadians are confident in their ability to pay off debt and see their savings working for them. However, Gen Z expressed less confidence in paying off debt and achieving their financial goals. Canadians generally gave themselves a B grade for financial literacy, with Gen Z showing the greatest variability in their self-assessment. The survey suggests that while Canadians feel confident with money and financial products, there is room for improvement, particularly for Gen Z. [Extracted from the article]

The Bank of Canada has implemented its third consecutive quarter-point cut to its benchmark borrowing rate, bringing Canada's overnight lending rate to 4.25%. This is the lowest rate since January 2023. The rate cut will provide interest rate relief for Canadians, as most lenders will lower their prime rates and variable-rate borrowing products, including mortgages and home equity lines of credit, will also see a decrease in interest rates. The Bank of Canada is expected to continue lowering its rate with two more quarter-point cuts in October and December, bringing the Overnight Lending Rate to 3.75%. This is good news for mortgage holders and borrowers, but it will result in a decrease in the rate of return for savers. [Extracted from the article]

The article discusses the options of investing in bonds or Guaranteed Investment Certificates (GICs) for fixed-income investors. It highlights the recent positive performance of bonds due to drops in interest rates and the need for diversification in the stock market. The article explains the characteristics of individual bonds, bond funds, and GICs, and discusses factors to consider when choosing between them, such as liquidity, simplicity, diversification benefits, tax efficiency, and risk tolerance. Ultimately, the decision of whether to invest in bonds or GICs depends on personal preferences and individual circumstances. [Extracted from the article]

The Canada Child Benefit (CCB) is a tax-free monthly payment provided by the Canada Revenue Agency (CRA) to help parents cover the cost of raising children. The payment amount is recalculated each July based on the previous year's adjusted family net income and is indexed to inflation. For the 2024-25 benefit year, families can receive up to $7,787 per child under 6 and $6,570 per child aged 6 to 17, representing a 4.7% increase from the previous year. Eligibility for the CCB requires living with and being primarily responsible for the care of at least one child under 18, as well as meeting certain residency requirements. Payment dates for the CCB in 2024 are provided, and retroactive payments can be requested for up to 10 years if eligible. [Extracted from the article]

Reverse mortgages can provide income for Canadian seniors who have valuable homes but limited cash. However, they are generally less favorable than other options. Reverse mortgages allow homeowners to borrow up to 55% of their home's value, but the lender must wait years to be repaid. Financial experts recommend considering other alternatives, such as investments or home equity lines of credit, before resorting to a reverse mortgage. These mortgages can reduce the capital available for an estate and may accumulate significant interest over time. It is important for retirees to carefully assess their financial situation and lifestyle before deciding on a reverse mortgage. [Extracted from the article]

Fractional trading allows investors with limited cash to buy portions of expensive stocks, making them more accessible. This is particularly beneficial for young people who may not have large sums of money to invest. Fractional trading removes the mental barrier of needing a significant amount of money to invest and allows investors to start building their position in a stock over time. However, it is important to conduct thorough market research and adhere to basic investing principles, such as diversification and considering one's time horizon and risk tolerance. Fractional ownership also comes with proportional rights to dividends and voting in a company. [Extracted from the article]

The Canada Child Benefit (CCB) is a tax-free monthly payment provided by the Canada Revenue Agency (CRA) to help parents cover the cost of raising children. The payment amount is recalculated each July based on the previous year's adjusted family net income and is indexed to inflation. In the 2024-25 benefit year, families can receive up to $7,787 per child under 6 and $6,570 per child aged 6 to 17, representing a 4.7% increase from the previous year. Eligibility for the CCB requires living with and being primarily responsible for the care of a child under 18, as well as meeting certain residency requirements. [Extracted from the article]

This article discusses the challenges and considerations for single individuals planning for retirement in Canada, particularly those without a pension. It highlights the cost of living as a single person compared to couples and emphasizes the need for singles to save more to maintain the same standard of living in retirement. The article also mentions the tax advantages that couples have over singles and provides options for single retirees without a pension, such as deferring Canada Pension Plan (CPP) and Old Age Security (OAS) benefits or considering annuities. Additionally, it mentions survivor benefits and the importance of seeking financial advice and planning for retirement as a single individual. [Extracted from the article]

This article explores the impact of ADHD on an individual's financial management skills. The author shares personal experiences of impulsive spending and debt due to ADHD, highlighting challenges such as difficulty focusing attention and struggles with budgeting. The article also discusses the increased likelihood of anxiety, debt, missed bill payments, and impulse spending among individuals with ADHD. It emphasizes the importance of tailored financial advice and strategies for neurodivergent individuals and encourages readers to understand the underlying reasons for their financial struggles and take steps to improve their situation. Additionally, the article challenges the stereotype that individuals with ADHD are inherently bad with money and suggests that finding the right tools and techniques can help manage finances effectively. [Extracted from the article]

This article provides an overview of the recent performance of Canadian and U.S. banks, as well as retail and info tech companies. Canadian banks, including RBC and National Bank, have increased provisions for credit losses due to potential loan defaults. While some banks, like BMO and Scotiabank, had lower-than-expected earnings, others, like RBC and CIBC, posted solid results. In the U.S., HP and Best Buy saw their stock prices rise after reporting earnings that exceeded expectations, while Dell's stock price declined. The article also discusses the correlation between company profits and stock prices, as well as the disappearance of stagflation concerns. [Extracted from the article]

The article discusses the rising costs of groceries and eating out in Canada, particularly since the COVID-19 pandemic. It suggests that using a credit card with rewards for food purchases can help manage these costs. The National Bank's World Elite Mastercard is highlighted as a card that offers up to five points per dollar spent on groceries and restaurants, making it a good choice for families and frequent diners. The article also mentions additional features and benefits of the card, such as travel insurance and access to airport lounges. [Extracted from the article]

This article from MoneySense provides information on how to use credit cards responsibly, particularly for young adults and newcomers to Canada. It explains the importance of building a credit history and offers tips for responsible credit card use, such as sticking to a budget, paying off the balance in full and on time, and making at least the minimum payment if unable to pay in full. The article also compares three credit cards offered by National Bank of Canada, highlighting their features and benefits. It emphasizes the role of responsible credit card use in building a good credit score and gaining access to better financial products. [Extracted from the article]

This article discusses five credit card habits that can help individuals earn rewards points faster. It emphasizes the importance of choosing a credit card that offers boosted earn rates in the categories where individuals spend the most, such as groceries and gas. The article also suggests making the most of optional spending, subscribing to rewards points, getting family members involved, and earning more points on travel expenses. It concludes by highlighting the various ways in which individuals can redeem their rewards points, including for travel, merchandise, or financial rewards. [Extracted from the article]

This article from MoneySense provides a comparison of financial terms and products in Canada and India. It explains that certain financial products in Canada, such as fixed deposits and GICs, have equivalents in India. The article also discusses other terms, including home loans, income tax departments, credit scores, and stock market indices, and highlights the differences between banking systems in the two countries. The article aims to help newcomers from India understand and navigate the Canadian financial system. [Extracted from the article]

According to a TransUnion report, an increasing number of Canadians are only making the minimum monthly payment on their credit cards due to the cost-of-living crisis and higher interest rates. Many households are relying on credit because their incomes are not keeping up with inflation. Total consumer debt in Canada was $2.38 trillion in the first quarter, with millennials holding the largest portion of debt at about 38%. However, the report suggests that the strict screening process for mortgages and anticipated interest rate cuts may help alleviate the burden on households over time. [Extracted from the article]

This article titled "Earning, saving and spending money in Canada: A guide for new immigrants" provides information and guidance for individuals who are new to Canada or planning to move there. It covers various topics such as banking, budgeting, buying, careers, debt, financial literacy, investing, pensions, real estate, retirement planning, taxes, and more. The article offers advice on how to prepare for moving to Canada, finding employment, building a good credit history, and planning for retirement. It also provides additional resources and articles for further information on personal finance topics. [Extracted from the article]

Canadian inflation has cooled, with lower grocery prices being the main contributor. The Consumer Price Index (CPI) for April showed a year-over-year increase of 2.7%, the lowest since March 2021. However, mortgage costs and rent have increased significantly. The three-month inflation trend suggests that it may be time to cut interest rates. Nvidia, a leading AI company, has seen its shares rise above $1,000 and announced a 10-for-1 stock split. U.S. retailers, such as Target and Macy's, reported mediocre earnings due to a stretched consumer. [Extracted from the article]

Warren Buffett has expressed confidence in investing in Canada despite its stagnating economy. He highlighted the benefits of operating in a major economy like Canada and mentioned that his company, Berkshire Hathaway, is currently looking at potential investments in the country. Buffett's last major investment in Canada resulted in a significant gain, indicating his ability to make money in the country. In other news, The Walt Disney Company experienced a decline in its share price despite a small earnings beat, as investors were concerned about future revenues. Reddit, on the other hand, had a successful first earnings report as a publicly traded company, with a surprising rise in revenues and user numbers. Uber had a disappointing earnings day, reporting a larger-than-expected loss, while Lyft outperformed profit forecasts. Shopify, despite an earnings beat, saw its shares decline due to decreased profit guidance. [Extracted from the article]

The latest jobs report from Statistics Canada showed a significant increase in employment, with 90,000 jobs added in April. This unexpected gain has raised doubts about the possibility of an interest rate cut from the Bank of Canada (BoC) in June. Economists had been expecting a rate cut in June or July, but the strong employment numbers have made financial markets less certain. The BoC may choose to wait until July to ensure that the current economic environment does not lead to more inflation. [Extracted from the article]

This article from MoneySense provides an overview of recent market developments. It highlights the expansion of the Trans Mountain Pipeline, which is expected to benefit Canada's oil sands producers by reducing the discount paid for their product. Two major shippers on the pipeline reported first-quarter earnings, with Cenovus Energy exceeding expectations and Canadian Natural Resources facing challenges due to lower production and prices. The article also discusses the positive first-quarter results of technology giants Amazon and Apple, as well as the mixed performance of fast-food chains such as Restaurant Brands International and McDonald's. Additionally, it mentions the disappointing earnings of uranium miner Cameco Corp. Overall, the article provides a snapshot of recent market trends and company performances. [Extracted from the article]

Metro, Inc. has announced that it will be withdrawing from the Air Miles Rewards program and launching its own loyalty program called Moi Rewards in all Metro and Food Basics stores in Ontario later this year. This means that customers will no longer be able to collect or redeem Air Miles at these stores. Moi Rewards allows shoppers to collect and redeem points in-store and online, and offers personalized promotions. While the value of Moi Rewards points is lower than Air Miles, customers can still earn rewards on their grocery shopping by using a rewards credit card. [Extracted from the article]

This article provides information on the withdrawal rates for Registered Retirement Income Funds (RRIFs) in 2024. The minimum age to convert a Registered Retirement Savings Plan (RRSP) to a RRIF varies by province, either 50 or 55. After conversion, minimum withdrawals must be made from the RRIF. The article includes a downloadable chart that shows the withdrawal rates based on age. The rates are calculated using the CRA's prescribed factors formulas. [Extracted from the article]

This article from MoneySense provides information on the processing time for tax refunds in Canada and offers suggestions on how to spend the refund wisely. It explains that a tax refund is not free money but rather an interest-free loan given to the government throughout the year. The article also discusses various ways to use the tax refund, such as paying down credit card debt, starting an emergency fund, opening a TFSA or RRSP, making a prepayment on a mortgage, paying off student loans, investing in education or self-development, donating to charity, or treating oneself to something fun. The article emphasizes the importance of understanding available credits and deductions to maximize the tax refund. [Extracted from the article]

According to Statistics Canada's 2019 figures, the average person under age 35 in Canada had saved $9,905 towards retirement (RRSPs only) and held $27,425 in non-pension financial assets. For Canadians aged 35 to 44, these numbers are $15,993 and $23,743, respectively. The pandemic had a positive effect on savings, with the average Canadian saving an additional $5,800 in 2020. However, most Canadians are not saving enough for their age groups. It is recommended to prioritize financial goals and obligations, seek the help of a financial planner, and consider high-interest savings accounts to grow savings quickly. [Extracted from the article]

A new analysis from the National Institute on Ageing suggests that delaying Canada Pension Plan (CPP) payments until age 70 can more than double monthly benefits. This strategy provides a hedge against inflation and longevity, as the longer you live, the more likely inflation will impact your retirement income. However, not everyone agrees with this approach, as some argue that the increase in benefits may not be as significant as it seems and that deferring CPP may not be financially feasible for everyone. It is important for individuals to consider their own financial situation and life expectancy when deciding when to start receiving CPP payments. [Extracted from the article]

The article discusses the investment strategy known as "Sell in May and go away." This strategy involves selling equities in May, holding the proceeds in cash, and then buying back the same stocks after Halloween. The strategy is based on the historical underperformance of the stock market from May to September and the outperformance from October to April. However, the article emphasizes that the strategy's effectiveness varies each year and that it is important to focus on the fundamentals of investing rather than relying solely on seasonal patterns. The author advises investors to understand market conditions and individual companies in order to make informed investment decisions. [Extracted from the article]

Bitcoin's next "halving" is approaching, which will cut the production of the cryptocurrency in half. This event occurs roughly every four years and affects the supply of bitcoins available in the market. Some argue that halving can counteract inflation and lead to price increases, but experts caution that future gains are not guaranteed. The environmental impact of bitcoin mining, which consumes a significant amount of energy, is also a concern. The next halving is expected to occur in the next few days or hours. [Extracted from the article]

The article discusses various financial topics, including changes to the taxation of capital gains in Canada's federal budget, Netflix's earnings report and future projections, U.S. bank earnings, and the inflation rate and its impact on the Canadian Dollar. The new capital gains tax rules in Canada will increase the inclusion rate for some individuals and corporations. Netflix reported strong earnings but lowered future revenue projections, causing a decline in stock prices. U.S. banks exceeded earnings predictions, with investment banking-focused banks performing particularly well. The inflation rate in Canada has increased slightly, and there is speculation of a potential interest rate cut. [Extracted from the article]