People who spend more than they earn (accumulating debt) People who spend all that they earn (saving nothing—breaking even) People who save 2%, 5%, 10% or even 20% or more (growing savings) We’ve seen $50,000 earners who save 20% of their income ($10,000), $100,000 earners who save just...
How do NSAs compare to GICs, HISAs and MMFs? Notice savings accounts can complement the use of other savings products, particularly HISAs used for short-term savings, and GICs and MMFs used for medium- or longer-term savings. Here’s a comparison of features. EQ Bank NSAHISAGICMMFInterest rate or yield3.00%...
In your case, though, Parmod, there’s no tax to transfer your home to your corporation assuming it qualifies as your principal residence for all years of ownership. The real question is: should you? ...
High management expense ratios By and large, the options for Canadians seeking Chinese equity exposure are prohibitively expensive, even compared to mutual funds. Take XCH for example, with its hefty 0.86% management expense ratio (MER). The more specialized BMO MSCI China ESG Leaders Index ETF (ZCH) isn’t...
The Tories tried unsuccessfully several times to bring down the Liberal minority government in 2024. The current speculation in Ottawa is the election will come in the spring when the government unveils its budget, but even if that doesn’t happen, the fixed date for the...
It was a similar story for both Costco and Broadcom on Thursday. Both companies beat earnings expectations, but saw their share prices dip slightly. That said, investors have to be happy with the fact Costco is up about 52% year to date, and Broadcom was...
This is also the BoC’s second “oversized” (the term used for anything over 25 basis points) cut in a row, following the one in October. The Bank attributed the larger cut to the fact that inflation has now lowered to its 2% target, and the...
Rental car insurance is a travel insurance benefit included with many premium credit cards. Understanding credit card rental car insurance can give you peace of...
Being a landlord can also be time-consuming, and you face potential liabilities that could cost you. From property damage to accidents involving tenants or visitors, unforeseen events can strain your finances—if you’re unprepared. For example, if a tenant trips on a walkway leading to your...
The Bank of Canada cut its key policy rate by 50 basis points on Wednesday to take it to 3.25%. Here is the text of the central bank’s decision: The Bank of Canada today reduced its target for the overnight rate to 3.25 per cent, with...
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