Wealthsimple Trade in-depth review 2021: The pros and cons

Since making its debut in 2014, Canada’s Wealthsimple has helped to demystify investing for hundreds of thousands of regular people who want to grow their money. The company’s success thus far is unquestionable: As of late February 2021, its AUM (assets under management) have been valued at $8.4 billion, and its online investment management tools…

Making sense of the markets this week: March 8, 2021

Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.  Stock markets tried to recover from last week’s bond scare By March 1, the bond scare appeared to be over, stocks were back to their habit of moving higher. In fact, on Monday the S&P 500 had…

What happens at the end of a reverse mortgage?

When you get a reverse mortgage, you tap the equity in your home without having to sell it. There are several advantages to having a reverse mortgage, for those who qualify: For one, you gain access to part of the cash value of your home, increasing your liquidity. Setup and legal fees are rolled into…

Explainer: How do payday loans work? 

Captain Cash, Mr. Payday, Speedy Cash and Cash 4 You—payday loan companies market themselves as an informal, cheery alternative to the conventional banking system, one that provides easy access to funds you might need to smooth out small financial emergencies.   But are payday lenders helping meet a vital need for Canadians who are left behind…

WIN A GEOSAFARI JR TALKING WILDLIFE CAMERA

Reading Time: 2 mins Win a Learning Resources® GeoSafari® Jr. Talking Wildlife Camera worth £60.00. the prize We’re giving one lucky reader the chance to win the GeoSafari® Jr. Talking Wildlife Camera. GeoSafari® Jr. range from Learning Resources® introduces young children to the wonders of natural science and STEM learning through hands-on exploration and play….

WIN AN OUTDOOR PLANT BOX FROM LAZY FLORA

Reading Time: 2 mins Win an outdoor plant box from Lazy Flora worth £45! the prize We’ve teamed up with plant subscription brand Lazy Flora to offer one lucky MoneyMagpie reader the chance to an outdoor plant box – worth £45! A box of eight beautiful, low maintenance, premium quality outdoor plants will be delivered…

How to master “core and explore” investing 

For investors old or young, I’ve long been in favor of taking a hybrid “core and explore” approach. The “core”—the so-called “serious money” that comprises 80% to 90% of your portfolio—can be held in balanced funds or low-fee indexed solutions, like asset allocation ETFs from BMO, Horizons, iShares and Vanguard. A single such fund holds…

How to make every penny count

Reading Time: 3 mins If you’re struggling to pay the bills, thinking about saving can feel scary. When making ends meet is tough, growing a nest egg can seem like a luxury. It doesn’t have to, though. Enter Yolt! It’s the smart-thinking money app, built to help you make it through the month while stashing…

Win A LUXURIOUS PRIZE BUNDLE FROM PREZZYBOX

Reading Time: 2 mins Win a personalised Green & Black’s Organic Connoisseur Collection and a Big Night In pack from PrezzyBox. the prize We’re giving one lucky reader the chance to win a luxurious bundle comprised of a personalised Green & Black’s Organic Connoisseur Collection and a Big Night In pack from PrezzyBox. The most…

WIN A ‘FEEL AMAZING’ 6 MONTH MEMBERSHIP

Reading Time: 2 mins Win a 6 Month Membership for the Ailsa Frank ‘Feel Amazing’ Hypnotherapy Relaxation App (worth £65!) the prize Power boost your fitness with a 6 month membership (worth £65) to the new mindful app called ‘Feel Amazing’ by hypnotherapist Ailsa Frank, so you can sleep well, motivate yourself, achieve more and…

Tax implications of building a laneway suite

Q. I read your “capital gains on subdivided land” article—very nice piece. I have a follow up topic for you. I’m not sure if you are familiar, but recent changes to zoning laws have enabled thousands of Toronto property owners to build a laneway house on the back portion of their property, provided it meets…

12 ways to save on water bills while saving water in the home

Reading Time: 7 mins Saving money wherever you can is always a good thing. One way to save money people often forget about is on their water bills. We all use water everyday, so if you can cut your bill down, it’ll make a real difference. According to SaveWaterSaveMoney, if you cut your water usage by…