Changes to the BoC rate impacts the prime rate set by Canadian lenders, which in turn affects the pricing of variable-based borrowing products, which are based on the…
Read more Making sense of the Bank of Canada interest rate decision on October 23, 2024 – MoneySenseThe half-percentage point interest rate cut marks the fourth consecutive reduction since June and brings the central bank’s policy interest rate down to 3.75 per cent. With annual…
Read more Bank of Canada delivers half percentage point rate cut – MoneySenseWhat does the rate cut mean? The immediate impact of today’s rate cut will be interest rate relief for Canadians. As a result of today’s rate cut, most…
Read more Making sense of the Bank of Canada interest rate decision on September 4, 2024 – MoneySenseAs you know, of course, annuities and GICs are not the same thing. An annuity provides a guaranteed income for life, or a set time period, and it…
Read more Annuity vs. GIC: What makes sense for retiring? – MoneySenseOn the other hand, if you aren’t happy with any of these options, do some research, says Ulmer. “Talk to people who you think are financially savvy and…
Read more “Help! My RRSPs are all over the place” – MoneySenseAll the while, you’ve got a serious case of FOMO every time you check social media—all those friends who are jetting off on lavish vacations, buying new cars…
Read more How much money should I have saved by age 40? – MoneySenseWhat is the Bank of Canada’s interest rate? This latest decrease brings the central bank’s rate—which sets the benchmark for Canada’s prime rate and variable-rate borrowing products—to 4.5%.…
Read more Making sense of the Bank of Canada interest rate decision on July 24, 2024 – MoneySenseTypes of investing accounts In Canada, there are two types of investment accounts: registered and non-registered. Registered accounts are filed with the Canada Revenue Agency (CRA), the governmental…
Read more Buying your first stocks in Canada – MoneySenseWho are your money, finance and investing heroes? My number-one investing hero has to be Brandon Beavis. His YouTube videos taught me everything I know about investing. My…
Read more Make the smart money moves early: self-taught finfluencer Joyee Yang – MoneySenseSentiment around the interest rate decision The rate hold was largely anticipated by markets and economists. Many hoped it to be the central bank’s last hold before pivoting…
Read more Making sense of the Bank of Canada interest rate decision on April 10, 2024 – MoneySenseAs a result of the latest rate hold, the prime rate in Canada will remain at 7.2%. This might not seem like big news, but this is what…
Read more Making sense of the Bank of Canada interest rate decision on March 6, 2024 – MoneySenseTFSA day trading: Do you pay tax? Tax-free savings accounts (TFSAs) are mostly tax-free. When you buy and sell an investment for a profit, that is generally tax-free…
Read more When are TFSAs and RRSPs actually taxable? – MoneySenseIn other words, during the near-zero interest rates that prevailed until recently, investors wanting real inflation-adjusted returns had almost no choice but to embrace stocks. (Read more about TINA…
Read more Are GICs worth it for Canadian retirees? – MoneySenseAs a result of these rate hikes, the interest rates available on guaranteed investment certificates (GICs) have risen as well—leading to renewed interest from savers and investors. In…
Read more Will GIC rates keep going up in 2024? – MoneySenseHow cashable GICs work Traditionally, GICs offer Canadian investors three core benefits: Principal protection to ensure your money remains safely invested A guaranteed interest rate to ensure you…
Read more What is a cashable GIC? – MoneySenseIf you like the safety of GICs but also want exposure to the stock market, there’s a type of investment for that: market-linked GICs. These investments guarantee the…
Read more What is a market-linked GIC? – MoneySenseThe point? If a GIC investor is looking to lock in a good long-term interest rate, they may want to consider some bond exposure as well to diversify.…
Read more What to expect for GICs in 2024 – MoneySense
