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This article from MoneySense discusses what to do if you are in your 40s and do not have a pension. It suggests setting up automatic contributions to a registered retirement savings plan (RRSP) to mimic the pay-yourself-first approach of a pension. The article provides an example of how someone who starts saving at 40 can amass nearly $500,000 by age 65, which, combined with benefits from the Canada Pension Plan (CPP) and Old Age Security (OAS), can provide a comfortable retirement. It also mentions the option of using a tax-free savings account (TFSA) to boost retirement savings. The article emphasizes the importance of understanding and utilizing government programs, increasing savings contributions over time, and considering other sources of retirement income such as real estate. [Extracted from the article]

The article discusses Canada's inflation rate and its implications for investments. The annual rate of inflation, as measured by the Consumer Price Index (CPI), fell to 2.7% in June, down from 2.9% in May, largely due to slower growth in gasoline prices. The Bank of Canada aims to keep inflation within a target range of 1% to 3% and closely monitors it. Inflation erodes the profit made on investments, and it is important to consider inflation when evaluating investment options. Stocks and bonds can be affected by inflation, but some investments, such as short-term bonds and guaranteed investment certificates (GICs), may be more resilient. The Bank of Canada is determined to bring inflation back down to 2%. [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]

The article discusses the proposed increase in the capital gains inclusion rate in Canada, which is set to take effect on June 25, 2024. The government has introduced a ways and means motion to increase the rate, and if passed, the new rate will be retroactive to June 25. However, there is a possibility that the legislation may not pass, in which case the inclusion rate will remain the same. The article also mentions the potential impact of a legal case against the government if the law doesn't pass, highlighting the importance of advance notice in tax policy. [Extracted from the article]

This article provides a comparison of various RRSP savings accounts, GIC rates, and investment accounts in Canada. It highlights Questrade and Qtrade as the best RRSP options for 2024. Questrade offers low fees and commissions, while Qtrade eliminates commissions on mutual funds. The article explains the benefits of RRSPs, their contribution limits, and the ability to withdraw funds for specific purposes. It also discusses the differences between RRSPs and TFSAs and provides information on different investment options within an RRSP. This information is valuable for library patrons researching retirement planning and financial management. [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]

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]

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]

This article from MoneySense discusses the possibility of being a first-time home buyer more than once in Canada. The article explains that different government programs have their own criteria for defining a first-time home buyer, and individuals must meet these criteria to qualify. The Home Buyers' Plan (HBP) allows first-time buyers to withdraw funds from their registered retirement savings plan (RRSP) for the purpose of buying a home, and the first home savings account (FHSA) helps Canadians save for a down payment. The article also mentions land transfer tax rebates available to first-time buyers. The author advises individuals to explore these programs and consult with professionals to determine if they are eligible and if participating in a first-time home buyer program is the right decision for them. [Extracted from the article]

This article from MoneySense discusses the tax implications of transferring money from a Registered Retirement Income Fund (RRIF) to a Tax-Free Savings Account (TFSA) in Canada. The article explains that direct transfers between these two accounts are not possible because a RRIF is a tax-deferred account while a TFSA is a tax-free account. However, individuals can withdraw funds from their RRIF and deposit the after-tax proceeds into their TFSA. The article also mentions that the withholding tax on RRIF withdrawals is not the final tax obligation, as the withdrawal will be reported on the individual's tax return and the tax will be calculated accordingly. The article provides additional information on the advantages of taking more than the minimum RRIF withdrawals and the potential benefits for married or common-law couples and individuals with health concerns. [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]

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]

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]

The article discusses the concept of First Home Savings Accounts (FHSAs) in Canada, which are registered accounts aimed at helping Canadians save for their first home's down payment. It provides information on the start date, rules, eligibility criteria, and investment options for FHSAs. The article also compares FHSAs to other accounts like RRSPs and TFSAs, and emphasizes the importance of considering factors such as service type, investment knowledge, fees, and interest rates when choosing an FHSA. It concludes by mentioning that FHSA deposits are insured by the Canada Deposit Insurance Corporation (CDIC). [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]

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]

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 2024 federal budget in Canada introduces several changes that will impact Canadians' finances and taxes. Higher income earners will face tax changes, while renters and first-time home buyers will receive incentives. One notable change is the increase in the capital gains inclusion rate for corporations and trusts. The budget also includes measures to support small businesses, such as the Canada Carbon Rebate and the expansion of the Clean Energy Investment Tax Credit. Additionally, there are provisions for renters, including the use of rent payment history for credit assessments and the establishment of a Tenant Protection Fund. The budget also addresses mortgage amortization, the Home Buyers' Plan, and qualified investments for registered plans. Other areas covered in the budget include the National Pharmacare Plan, support for disabled Canadians, and changes to the CPP Death Benefit. Overall, the budget aims to provide fairness for every generation of Canadians, with a focus on housing and health. [Extracted from the article]

The article discusses the current state of the markets and draws parallels between the current economic boom and the Roaring '20s. It highlights various indicators of economic growth, such as high net worths, stock market highs, and increased economic activity. The article also discusses the success of Canada's first home savings account (FHSA) and the increasing popularity of stock investments among U.S. households. Additionally, it mentions the recent corporate restructuring of General Electric (GE) and 3M, with the aim of increasing long-term value. [Extracted from the article]

This article from MoneySense discusses whether it is advisable to sell investments at a loss in order to pay off debt. The author acknowledges the risks of investing money that is needed in the short term, as there is a chance of losing money. The article also highlights the importance of diversification in reducing risk. The author advises considering the interest rate on the debt and the potential returns on the investments before making a decision. Additionally, the article mentions the possibility of tax deductions and superficial losses when selling investments. Ultimately, the decision to sell or hold onto investments depends on individual circumstances and risk tolerance. [Extracted from the article]

This article from MoneySense provides an overview of the markets and financial trends as of January 14, 2024. It discusses the performance of different asset classes in 2023, highlighting the volatility and reversion to the mean. The article also mentions the losses incurred by short sellers in the U.S. and Canadian stock markets. Additionally, it examines the Canadian housing market and the impact of rising prices on housing affordability. The article concludes with a discussion on currency movements, particularly the Canadian dollar's performance against the U.S. dollar and other currencies. [Extracted from the article]

This article provides predictions and insights into the financial markets for the year 2024. The author predicts that Canada's TSX 60 index will outperform the S&P 500, citing lower valuations as a potential advantage. They also anticipate that tech stocks will underperform the TSX Composite due to current valuations. The article discusses the potential impact of the U.S. election on the markets, expressing concerns about the possibility of civil unrest if Donald Trump were to win. Additionally, the author predicts that GDP in Canada will remain stagnant and that oil prices will stay below $85 per barrel. They also offer predictions for Tesla's stock performance and the future of cryptocurrencies. [Extracted from the article]

This article from MoneySense provides information on how to file taxes when you own ETFs (exchange-traded funds). It explains that ETFs and mutual funds have similarities and differences in terms of tax implications. While both types of investments are subject to tax in taxable accounts, TFSA (tax-free savings account) investments are tax-free and do not require reporting on tax returns. The article also discusses the adjusted cost base (ACB) and the issuance of T3 slips for mutual funds and ETFs. It mentions the taxation of U.S.-dollar ETFs in Canada and the additional tax-filing requirements for foreign investments. The article concludes by suggesting that individuals can prepare their own tax returns for ETFs, but seeking professional advice is also an option. [Extracted from the article]

The article discusses the best ways to save for retirement in your 20s. It highlights the challenges faced by young people in saving for retirement while managing other financial priorities. The article emphasizes the importance of starting early and prioritizing debt repayment. It suggests taking advantage of employer matching programs, investing in low-cost index funds or ETFs, and making regular contributions to retirement accounts. The article also provides information on how much the average young Canadian has saved for retirement and offers tips on determining how much to save and letting compound interest work in your favor. [Extracted from the article]

Bitcoin, the world's first cryptocurrency, has experienced a significant recovery in 2023 after struggling in 2022. The price of bitcoin has risen from $16,625 to $41,452, a 149% increase for the year. This surge in value has also led to the combined market capitalization of cryptocurrencies surpassing $1.5 trillion. Factors contributing to bitcoin's rebound include investors turning to crypto as an alternative to stocks and bonds, anticipation of spot bitcoin ETFs being approved in the US, growing institutional interest in crypto, and falling bond yields. Analysts have varying degrees of optimism for bitcoin in 2024, with price predictions ranging from a return to its all-time high of over $69,000 to as high as $250,000. However, it is important for investors to exercise caution as cryptocurrencies remain a risky investment. [Extracted from the article]

This article from MoneySense addresses the question of how to divide the assets of an estate between beneficiaries. The author provides advice on various considerations, such as the discretion of trustees to sell or distribute specific assets, the option to sell all assets and distribute the cash, and the possibility of holding real estate jointly or selling it. The article also discusses the importance of seeking tax and legal advice in order to navigate this complex process. [Extracted from the article]

The article discusses various topics related to the financial markets. It begins by mentioning that the Bank of Canada has decided to keep the key interest rate at 5%, citing concerns about inflation and the economy's weakness. The article also highlights the earnings reports of small Canadian banks, with Laurentian Bank experiencing a tough year and Equitable Bank continuing to grow. Additionally, the article mentions the positive performance of stock markets in November, with the S&P 500 and the Toronto Stock Exchange's S&P/TSX composite index both showing significant gains. Lastly, the article criticizes financial guru Dave Ramsey for his advice on withdrawal rates in retirement, emphasizing the importance of verifying financial claims. [Extracted from the article]

This article provides information on Canada's income tax brackets for 2023 and the maximum tax individuals will pay based on their income. It explains that understanding tax brackets is important for accurately estimating tax obligations, especially for self-employed individuals. The article also discusses how tax brackets work in Canada, with progressive tax rates based on income levels. It provides a table of federal tax brackets for 2023 and explains how to calculate federal taxes owed. Additionally, it mentions that individuals also need to consider provincial and territorial tax brackets when determining their overall tax liability. The article includes tables for provincial tax brackets and provides instructions on how to estimate provincial taxes owed. [Extracted from the article]

Tax-loss selling is a strategy used by Canadian investors to lower their potential tax bill. It involves selling investments at a loss to offset taxable capital gains. The capital losses can be used to reduce the amount of tax paid on investments. However, investors must be strategic in selecting which investments to sell and avoid repurchasing them within 30 days to avoid the superficial loss rule. Implementing a tax-loss selling strategy can also provide an opportunity to rebalance portfolios and ensure they align with risk tolerance and investment objectives. [Extracted from the article]

The article discusses the question of whether it is safe to leave $100,000 in a high-interest savings account. The author acknowledges that there is no completely risk-free option, as even a high-interest savings account can lose its purchasing power due to inflation. They provide historical data on the returns of investments and 30-day Canadian Treasury bills, showing that the promo rate on the high-interest savings account is slightly higher than the current T-Bill yield. The author explains that while savings accounts have their own risks, such as not keeping pace with inflation, they can be a suitable option in certain situations. Ultimately, the decision between saving and investing depends on individual circumstances and goals. [Extracted from the article]

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The best RRSPs to use before the tax deadline Read now What's the RRSP deadline for 2023? Keywords: Bonds; ETFs; Financial Planning; GICs; Investing; Mutual Funds; Retirement; RRSPs; Stocks; Income Tax; Pay less tax; registered account; RRSP; tax filing; tax return; tax-deferred; taxes EN Bonds ETFs Financial Planning GICs Investing Mutual Funds Retirement RRSPs Stocks Income Tax Pay less tax registered account RRSP tax filing tax return tax-deferred taxes You still have time to add to your retirement savings and lower your taxable income before the RRSP deadline. RRSP contribution deadline highlights The RRSP contribution deadline for 2023 is midnight, 11:59 PM ET, on Feb. 29, 2024. [Extracted from the article]

How co-signing a mortgage works Qualifying for a mortgage loan can be even more challenging if you're young, single or self-employed, even if you're a diligent saver and use all the first-time home buyer tools and programs available to you. Keywords: Budgeting; Buying; FHSA; Financial literacy; Financial Planning; Investing; Learn; Mortgages; Real Estate; RRSPs; Save; Spend; down payment; first home savings account; first-time home; First-time home buyer; First-Time Home Buyer Incentive; first-time home buyers; Home Buyers' Plan; Home Owner; homebuyers; homebuying; housing; housing costs; housing market; registered account; sponsored by fidelity; tax-deferred EN Budgeting Buying FHSA Financial literacy Financial Planning Investing Learn Mortgages Real Estate RRSPs Save Spend down payment first home savings account first-time home First-time home buyer First-Time Home Buyer Incentive first-time home buyers Home Buyers' Plan Home Owner homebuyers homebuying housing housing costs housing market registered account sponsored by fidelity tax-deferred If you don't qualify for a mortgage or you need more buying power, getting a co-signer may be an option. [Extracted from the article]

Keywords: Banking; Columns; ETFs; FHSA; Financial Planning; GICs; Index Funds; Investing; Learn; Mutual Funds; RDSPs; RESPs; Retirement; RRSPs; Save; Shopping; Spend; Stocks; active investing; Canadian stocks; dividend stocks; Dividends; economy; etf; Inflation; Invest; investing strategy; Investment strategy; investments; Making sense of the markets; oil; Passive investing; RDSP; Recession; stock market; stock markets; stock picking; stock valuations; U.S. markets; U.S. Stocks EN Banking Columns ETFs FHSA Financial Planning GICs Index Funds Investing Learn Mutual Funds RDSPs RESPs Retirement RRSPs Save Shopping Spend Stocks active investing Canadian stocks dividend stocks Dividends economy etf Inflation Invest investing strategy Investment strategy investments Making sense of the markets oil Passive investing RDSP Recession stock market stock markets stock picking stock valuations U.S. markets U.S. Stocks U.S. inflation battle continues, Oracle lets down expectations, Dollarama mightier than Roots, and Equitable Bank reigns supreme. U.S. inflation battle: Mission not accomplished Despite increasing interest rates and hawkish talk from the U.S. Federal Reserve chair Jerome Powell, the U.S. economy doesn't look to be slowing down anytime soon. While Roots did manage to reduce its inventory bloat, the cost resulted in higher promotional spending. [Extracted from the article]

Unconventional ways of investing in a family RESP What newcomers need to know about investing in Canada The post RESP vs RRSP and TFSA: What's the best option for education savings? Keywords: Budgeting; Columns; Education Money; Financial literacy; Financial Planning; Investing; RESPs; Save; Spend; Back-to-School; budgeting; Children; Education; education costs; family finance; family finances; financial planning; government benefits; post-secondary education; RESP; RESP withdrawals; saving; sponsored by Embark EN Budgeting Columns Education Money Financial literacy Financial Planning Investing RESPs Save Spend Back-to-School budgeting Children Education education costs family finance family finances financial planning government benefits post-secondary education RESP RESP withdrawals saving sponsored by Embark Families saving for a child's post-secondary education have more options than ever. [Extracted from the article]

Work with an RESP expert Maybe you don't have the time or inclination to figure out how to save and make the most of RESP funds and grant opportunities. Keywords: Budgeting; Financial literacy; Financial Planning; Investing; RESPs; Save; Back-to-School; budgeting; Children; Education; education costs; family finance; family finances; financial planner; financial planning; government benefits; post-secondary education; post-secondary housing; RESP; saving; savings; sponsored by Embark EN Budgeting Financial literacy Financial Planning Investing RESPs Save Back-to-School budgeting Children Education education costs family finance family finances financial planner financial planning government benefits post-secondary education post-secondary housing RESP saving savings sponsored by Embark Government grants are one of the biggest reasons why Canadians open registered education savings plans for their kids. The education savings experts at Embark are leaders in managing RESPs, and they can help to ensure you maximize your savings for your future graduate. [Extracted from the article]

RBC continues to be best in class Canadian banking earnings highlights RBC (RY/TSX): Earnings per share of $2.84 (versus $2.71 predicted) and a revenue beat at $14.49 billion (versus $13.06 billion predicted). Keywords: Banking; Columns; Debt; ETFs; FHSA; Financial Planning; GICs; Index Funds; Investing; Learn; Mutual Funds; RDSPs; RESPs; Retirement; RRSPs; Save; Shopping; Spend; Stocks; TFSAs; active investing; Canadian stocks; dividend stocks; Dividends; economy; etf; Inflation; Invest; investing strategy; Investment strategy; investments; Making sense of the markets; oil; Passive investing; Recession; stock market; stock markets; stock picking; stock valuations; U.S. markets; U.S. Stocks EN Banking Columns Debt ETFs FHSA Financial Planning GICs Index Funds Investing Learn Mutual Funds RDSPs RESPs Retirement RRSPs Save Shopping Spend Stocks TFSAs active investing Canadian stocks dividend stocks Dividends economy etf Inflation Invest investing strategy Investment strategy investments Making sense of the markets oil Passive investing Recession stock market stock markets stock picking stock valuations U.S. markets U.S. Stocks Nvidia earnings shock markets, RBC cruises along while TD hits some turbulence, U.S. retail skews towards consumer staples, and market timing doesn't pay. U.S. retail earnings highlights Lowe's (LOW/NYSE): Earnings per share came in at $4.56 (versus $4.49 predicted), and revenues were a slight miss at $24.96 billion versus $24.99 billion predicted. [Extracted from the article]

The first home savings account (FHSA), also referred to as the tax-free first home savings account, creates up to $40,000 in tax-free savings room for first-time home buyers. EQ Bank With EQ Bank, FHSA account holders earn 3% interest on money in their FHSA Savings Account, or they can purchase an FHSA GIC (not available in Quebec). Keywords: Banking; Bonds; Budgeting; ETFs; FHSA; Financial literacy; Financial Planning; GICs; Investing; Mutual Funds; Save; Stocks; banks; Financial Literacy; first home savings account; First-time home buyer; home; Home Buyers' Plan; Home Owner; homebuyers; homebuying; Invest; Investment strategy; Real Estate; savings; savings account EN Banking Bonds Budgeting ETFs FHSA Financial literacy Financial Planning GICs Investing Mutual Funds Save Stocks banks Financial Literacy first home savings account First-time home buyer home Home Buyers' Plan Home Owner homebuyers homebuying Invest Investment strategy Real Estate savings savings account The new first home savings account was created to help you save more money for a home purchase. [Extracted from the article]

In June 2022--when inflation peaked at 8.1% in Canada--there was some debate on whether the BoC should increase its inflation target. The impact of BoC rate hikes so far When the BoC increases or decreases its interest rate, the banks follow suit. To fight inflation, the Bank of Canada (BoC) has increased the policy interest rate by a total of 475 basis points (4.75%) since March 2022 (a basis point is equal to one hundredth of a percentage point). [Extracted from the article]

Canada's best online brokers READ NOW Credit card transactions still rule the world Credit card earnings highlights this week All numbers below are presented in U.S. dollars. Keywords: Banking; Bitcoin; Columns; Crypto; Debt; ETFs; Financial Planning; GICs; Index Funds; Investing; Learn; Mutual Funds; RDSPs; Real Estate; RESPs; Retirement; RRIFs; RRSPs; Save; Shopping; Spend; Stocks; TFSAs; active investing; banks; Canadian stocks; dividend stocks; Dividends; economy; Inflation; Invest; investing strategy; Investment strategy; Making sense of the markets; oil; Passive investing; Recession; RESP; U.S. markets; U.S. Stocks EN Banking Bitcoin Columns Crypto Debt ETFs Financial Planning GICs Index Funds Investing Learn Mutual Funds RDSPs Real Estate RESPs Retirement RRIFs RRSPs Save Shopping Spend Stocks TFSAs active investing banks Canadian stocks dividend stocks Dividends economy Inflation Invest investing strategy Investment strategy Making sense of the markets oil Passive investing Recession RESP U.S. markets U.S. Stocks Big tech still "magnificent" as telecoms disappoint, credit card giants trounce crypto and economic pessimists, U.S. Fed hike is taken in stride, and railways struggle. U.S. tech stocks continue to devour the old world Tech and telecom earnings highlights this week The U.S. tech earnings machine keeps on humming. [Extracted from the article]

Keywords: Bitcoin; Bonds; Crypto; Earn; ETFs; Financial literacy; Financial Planning; GICs; Index Funds; Investing; Learn; Making It; Mutual Funds; RESPs; RRSPs; Save; Spend; Stocks; Taxes; TFSAs; bonds; dividend stocks; Financial Literacy; gen z; mutual funds; REITs; robo advisors; young professional EN Bitcoin Bonds Crypto Earn ETFs Financial literacy Financial Planning GICs Index Funds Investing Learn Making It Mutual Funds RESPs RRSPs Save Spend Stocks Taxes TFSAs bonds dividend stocks Financial Literacy gen z mutual funds REITs robo advisors young professional As a young investor, should you manage your own stocks, use a robo-advisor or hire a professional? Bonds and GICs tend to be on the safer side, whereas stocks are more volatile, meaning the ups and downs could be concerning to investors. Active mutual fund fees are generally higher than index funds and ETFs because they require a larger team and more research into which stocks to buy and sell than a passive option. [Extracted from the article]