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a senior person on a bike enjoying retirement in Canada

Can I Retire At 60 Years Old With $500k In Canada?

As Canadians, we all dream of the day we can finally kick back and enjoy the fruits of our labor. For many of us, that dream involves retiring at 60 with a comfortable nest egg to help us through our golden years. But is it possible to retire at 60 with just $500,000 in Canada?…

ByJohn WilsonJanuary 7, 2023

silver Canadian coin on a maple leaf background

Why Is Dollar Cost Averaging A Good Strategy?

There are a few purposes of dollar cost averaging, but the most common is to smooth out the effects that sporadic investing can have on the overall value of a portfolio. By buying small amounts of an asset at fixed intervals, an investor can reduce the risk that they will over- or under-pay for an…

ByJohn WilsonDecember 27, 2022

millennial sitting on bench at a restaurant

Personal Finance Saving

Why Millennials Should Be Saving for Retirement Now

Millennials – those born between the early 1980s and mid-1990s – are often thought of as the generation that has it the hardest. Many are struggling with high levels of student debt, skyrocketing housing costs, and precarious employment, all of which can make it hard to think about saving for retirement. But as a Canadian…

ByJohn WilsonDecember 24, 2022

an investor putting the finger on a performance graph

Investing Saving Stocks

How To I Know If An Investment Is Right For You

Your financial goals will help you determine what type of investment is right for you. For example, if you are saving for retirement, you may want to invest in a retirement account such as a RRSP. This also helps if you are trying to save for a down payment on a house, because a RRSP…

ByJohn WilsonDecember 19, 2022

employee about to write a resignation letter and wondering about his pension

Personal Finance Saving

What Happens To My Pension Plan If I Leave My Employer?

When you leave your employer in Canada, one of the things you may be wondering about is what happens to your employee pension plan. This is an important consideration, as your pension plan may provide a significant source of income during your retirement years. The rules and regulations governing employee pension plans in Canada vary.…

ByJohn WilsonDecember 14, 2022

Personal Finance Saving

8 Tips To Save Money On Taxes In Canada

Table of Contents 1. Take advantage of tax deductions and creditsThe Basic Personal Amount The Canada Child Benefit The Age Amount The Disability Amount The Medical Expense Tax Credit 2. Use Registered Savings Plans 3. Consider tax-efficient investments 4. Keep good records 5. Claim work-related expensesTools And Equipment Uniforms And Clothing Travel And Transportation…

ByJohn WilsonDecember 13, 2022

pennies spilled on a table to pay debt or to invest

Debt Personal Finance Saving

Should You Pay Your Debts Or Invest Money?

It's a common question many people face: should I pay off my debt or invest my money? The answer isn't always straightforward, and it ultimately depends on your individual financial situation. In this blog post, we'll explore the pros and cons of both paying off debt and investing. We will also provide some guidance on…

ByJohn WilsonDecember 12, 2022

Budgeting Personal Finance Saving

RRSP Withholding Tax Rates & RRIF Implications

Withholding taxes on RRSPs may come as a surprise to some. Let’s start by covering the basics of what an RRSP is. A Registered Retirement Savings Plan (RRSP) is an investment account to save for retirement. It allows Canadians to earn tax-deferred savings on income and investments, which can help reduce the amount of taxes…

ByJohn WilsonDecember 9, 2022

Personal Finance Saving

How Many Quarters In A Roll In Canada?

In order to be as helpful as possible, we’ve drafted the 7 most likely questions a 5 years old might ask about quarters and aim to provide quick answers. What is a Canadian quarter? A Canadian quarter is a coin worth 25 cents. How much is a roll of…

ByJohn WilsonNovember 30, 2022

Budgeting Important Dates Personal Finance Resources Saving

The Climate Action Incentive Program

The Climate Action Incentive Program is a Canadian federal government program that provides funding to eligible households and businesses. It exists in provinces and territories that have adopted the Pan-Canadian Framework on Clean Growth and Climate Change. The funding helps offset the increased costs of complying with the carbon pricing system. That system was implemented…

ByJohn WilsonNovember 27, 2022