When planning for retirement, Canadians often turn to registered retirement savings plans (RRSP) as a tax-advantaged option to grow their money. After all, RRSPs are designed to help you accumulate retirement wealth. However, as you near retirement, knowing when and how to convert your RRSP into income using a Registered Retirement Income Fund (RRIF) can ensure a steady income stream throughout your golden years. We’ll cover those details in this article, but first, here’s a closer look at the differences between RRSPs and RRIFs. RRSP Vs. RRIF: What’s the Difference? RRSPs and&n ..read more

If you’re in search of a platform to trade stocks and ETFs online, pricing is likely a top consideration. In Canada, there are a few low-priced online brokers to choose from, such as Wealthsimple Trade and Questrade. Surprisingly, one of the lowest-price offerings is from a big bank broker – CIBC Investor’s Edge. But how does Investor’s Edge compare to other top brokers, and is it worth signing up for? In this CIBC Investor’s Edge review, we’ll cover the key features, pricing, and pros and cons. We’ll also share some alternatives. What Is CIBC Investor’s Edge? CIBC Investor’s Edge is the onlin ..read more

Online investing platforms have lowered the costs for Canadians who want to manage their own investments. Whether it’s a robo-advisor platform or an online brokerage, you can now trade thousands of stocks and ETFs from your desktop computer or mobile device for little to no cost. But with so many investment platforms to choose from, how do you know which one is right for you? This TD Direct Investing review looks closely at one of Canada’s leading self-directed trading platforms. We cover the various trading platforms, pricing, and pros and cons, to help you decide if TD Direct Investing is wo ..read more

In an attempt to save on costs, millions of Canadians are using self-directed investing platforms to manage their own investments. These robo-advisors and online brokerages have made investing more affordable than ever before. But while you may save money on your investments, they don’t offer financial planning advice. That’s where a Certified Financial Planner (CFP) comes in. In this article, I’ll explain how the CFP role works and why you may want to consider the services of a financial planner who has received the CFP accreditation. What Is a Certified Financial Planner? A Certified Financi ..read more

If you have a mortgage, having ample life insurance coverage is critical for protecting your family and home. But there is more than one way to purchase life insurance that protects what is likely your biggest investment. You can choose to buy life insurance that is tied to your mortgage. This is known as mortgage life insurance. Or, you can purchase a separate term life insurance policy to pay off your mortgage if you pass away. But which is the better option of the two? Should you buy the mortgage lender’s life insurance or buy term insurance separately? It’s an oft-debated topic which we’ll ..read more

If you’re looking for a credit card that earns travel rewards, there are plenty to choose from in Canada. Aeroplan credit cards allow you to earn points for Air Canada flights, and the RBC WestJet World Elite Mastercard lets you earn WestJet dollars. Most Canadian banks have their own travel rewards programs and affiliated credit cards. And then there’s AIR MILES. AIR MILES is a longstanding loyalty rewards program that allows you to earn points that you can redeem for merchandise, events, flights, and more. The best way to accumulate AIR MILES quickly is by shopping with an AIR MILES credit c ..read more

In the past few years, Canada’s digital banking space has become increasingly crowded. Longstanding players like Simplii Financial and Tangerine must compete with names like EQ Bank, Motus Bank, and Neo Financial. In this Simplii Financial review, I’ll cover their products and pricing, share the pros and cons, and a couple of Simplii alternatives to help you decide if Simplii Financial is worth considering. What Is Simplii Financial? Simplii Financial is a Canadian online bank and the Canadian Imperial Bank of Commerce (CIBC) digital banking arm. Simplii Financial offers a range of products, i ..read more

Exchange-traded funds (ETFs) make it easy for investors to achieve a diversified portfolio at a low cost. There are thousands of ETFs available from well-known investment firms like Blackrock or Horizons, but one of the most popular funds is Vanguard’s VGRO ETF. VGRO offers investors exposure to a diversified blend of stocks and bonds with a focus on long-term growth and a medium risk level. In this VGRO ETF review, I’ll provide an overview of the fund and explore what makes it an attractive option for investors. What Is Vanguard? Vanguard is one of the world’s largest investment management co ..read more

Managing your own investments can be intimidating, but the right tools can make it a more enjoyable experience. Among Canadian investors, one of the most popular online investing platforms is Wealthsimple, a low-cost robo-advisor that offers spending and savings accounts, stock, ETF, and crypto trading, online tax software, and more. But while Wealthsimple has garnered praise for its simplicity and ease of use, it may not suit all investors. In this article, I’m sharing a list of Wealthsimple alternatives that are worth considering as you search for an online investing app. Before we get to th ..read more

Whether it’s through credit cards or retail store programs, Canadians use loyalty rewards to earn discounts on everything from travel to groceries to gasoline. Sometimes, you can earn bonus points by stacking rewards. Since 2021, Aeroplan and Starbucks Rewards have joined forces, allowing their customers to increase their earning power by linking their rewards accounts. Aeroplan members can earn Aeroplan points when they shop at Starbucks and convert Aeroplan points to Starbucks Stars, which can then be redeemed for Starbucks beverages, food items, and merchandise. But how do you link your Aer ..read more