Author Archive for: Advisorsavvy

Nesto Review (2022)

You’re in the market to buy a home – congratulations! While the process is exciting, there are so many decisions to be made. One decision is whether or not to work with a mortgage broker. If you prefer to work with a broker, you may be wondering who’s the best mortgage broker in Canada. Certainly, there are a ton of options available and the best option for you depends on your homebuying goals and preferences. Looking for something a bit different? Meet Canada’s first online mortgage broker, Nesto. To learn more about the company, their products, and obtaining an online mortgage, continue reading below. What is Nesto? Nesto Group is an online Canada mortgage brokerage company. Similar to other mortgage advisors, Nesto connects homebuyers with mortgage financiers to allow them to purchase their dream home. They promise their customers lower mortgage interest rates. It’s their belief that a home is a crucial part of life and their clients shouldn’t have

Continue reading

BMO ETFs vs Vanguard ETFs

Investing is a fantastic way to grow your wealth over time and protect yourself from rising inflation. There are many ways to invest, but one of the best and most popular are certainly ETFs (exchange-traded funds). ETFs are a great way to diversify your portfolio, manage your risk, and keep your investing-related costs relatively low. However, choosing the right one isn’t always easy. There are many choices out there! Of the options, BMO ETFs and Vanguard ETFs continue to be among the most popular. But which is the best? Read on to learn more about both BMO ETFs and Vanguard ETFs, as well as how they stack up against each another. What is an ETF? First, let’s take a closer look at ETFs. These are pooled investments that operate quite similarly to a mutual fund or index fund. These will generally track a particular index or sector. For example, an S&P 500 ETF will track the S&P 500. These can

Continue reading

How To Make The Most Impact With Your Charitable Donations in Canada

The ability to give back to society through charitable donations is a fulfilling experience. Not only do you get a heart-warming feeling, but there are also various financial benefits to donating. More specifically, charitable donations provide generous tax breaks in Canada. Learn more about optimizing your donations below. Charitable donations and tax deductions in Canada: An Overview The technical definition of a charitable donation is a gift of cash or property to a nonprofit organization to help them achieve its goals. As a result, the giver of a donation receives no economic value in return, except for generous tax deductions and breaks. A nonprofit organization (NPO) is a legal entity that is in operation for a collective, public, or social benefit. In contrast, a for-profit organization is a legal entity in operations with the goal of earning financial profit. In 2020, Canadians donated just over $10.5 million dollars to charities, according to Statistics Canada. Trends show that the older Canadians

Continue reading

Best Investing Books For Canadian Investors

Sound investment advice can be found in the best investing books for Canadians. These are written by people who have ‘been there, done that’ in the finance and business sectors. Investment books can become your own playbook for the common sense of investing when you learn from the knowledge and experience shared.

Continue reading

QTrade Review (2022)

With advancements in technology, fintech has become accessible to the average Canadian. One of the platforms that can be used to buy and sell investments is QTrade. However, there are other options available on the market, all with varying features, benefits, and drawbacks. To learn more about QTrade’s service and how it compares to others, continue reading the full review below. What is QTrade Canada? QTrade is a Canadian, online, discount brokerage firm based in Vancouver, British Columbia. It is a subdivision of Credential QTrade Securities Inc. The online brokerage is also affiliated with Aviso Wealth which is among Canada’s largest firms. They provide financial management services to over 150 financial institutions and are backed by Desjardins group. Over the years, QTrade has won many awards and gained a reputation as one of Canada’s best online brokerages. The company offers a web interface and an app for both Android and iOS devices. What is a discount brokerage? QTrade is not

Continue reading

Best Canadian REITs for 2022

In Canada, there are many ways that people can invest their money. One popular choice is real estate. However, not everyone has the funds, time or energy, to invest in their own individual property. For these investors, a REIT (real estate investment trust) can make sense. A REIT investment in Canada can be a great way of diversifying a portfolio and participating in real estate investments, without having to manage or finance a property on your own. Our guide offers a closer look at REIT investing, while also going over our picks for the best Canadian REITs to consider in 2022. What are real estate investment trusts (REITs)? Before we look at some of the best Canadian REITs for 2022, you might be asking ‘what is a REIT?’ As mentioned above, REIT stands for real estate investment trust. These are companies that own or manage properties that generate income in one way or another. These companies are publicly traded, and

Continue reading

Best Renewable Energy Stocks: Top 5 for 2022

More and more people are becoming interested in green energy in Canada. Many try to use renewable energy and resources when they can, to help the planet. But not only are people using green energy to power their homes and businesses. They are also putting their money into it. There are many ways of supporting this industry. One of the most popular? Investing in companies within the industry. Have you considered adding renewable energy stocks and/or green energy stocks to your portfolio? With many companies focused on providing green and renewable energy throughout the country, what are the best renewable energy stocks and green energy stocks in Canada? Let’s take a look at some of the best options out there, and learn more about renewable and green energy as a whole. What is renewable energy? Before we look at some of the best of these stocks in Canada, it is a good idea to take a closer look at renewable

Continue reading

Top 10 Retirement Planning Tips For Canadians

How many of us have been planning for retirement since the first day of work? (*raises hand*) But have you researched the top retirement planning tips to help maximize these plans? The nature of work has drastically changed in recent decades. For starters, it’s now quite normal to work at a variety of companies over the course of a career. Secondly, pension plans were a lot more common in previous years. According toStatistics Canada(as reported by the Financial Post), only 37% of Canadian workers were covered by a pension plan in 2019. Suffice to say that the days when a worker would stay at the same job their entire career, and walk out of the building at 65 and into acomfortable retirement, are quite different now. The fact is, the vast majority of retirement savings in this country are self-driven — illustrating the crucial need for proper retirement planning. How do you plan for retirement? There are several retirement planning

Continue reading

Investment Management Fees: A Complete Guide

Can you hire someone to invest for you? You sure can! There is, however, a cost for this kind of service, better known as investment management fees. Before paying for financial advice, it’s helpful to understand how these investment costs work. By the end of this guide, you’ll have an understanding of how to approach investment management fees in Canada. What are investment fees? Investment fees are the costs incurred when using financial products. Sometimes this could be financial advisor fees or it could be costs to use an online platform. In addition, there are many kinds of investment fees, such as broker fees, trading fees, and commission fees. Normally, reasonable investment fees are incurred to turn a profit on the use of financial products. For this reason, considering fee structures is an important step in any investment decision. Otherwise, the fees you pay may cut into your profits significantly. But remember: fees aren’t the only aspect to consider when

Continue reading

Best Cryptocurrency ETFs in Canada for 2022

The cryptocurrency industry has exploded in popularity recently, and many crypto assets have been growing dramatically. Unfortunately, purchasing cryptocurrency involves a bit of work, and can be complex to buy in some cases. However, there is a way of participating in the crypto space without having to trade any yourself, and that is through a cryptocurrency ETF. These mimic the price of cryptocurrency and are much simpler to buy and trade than the crypto asset itself. There are a number of cryptocurrency ETFs in Canada that make it easy to get involved in the growth of this blossoming industry. But which ones should you consider investing in? Our guide takes you through some of the best cryptocurrency ETF options on the market, and how you can start investing. What are ETFs? Before we go any further, it’s important to understand what an ETF is. ETF stands for exchange-traded fund. It’s a pooled investment that works similar to a mutual fund,

Continue reading

How Estate and Inheritance Taxes Work in Canada

Part of getting older is planning what will happen to your estate when you pass away. Most people want to ensure their loved ones do not have to deal with a financial burden upon death. After all, grieving is a difficult enough process on its own. You may be wondering if there is an inheritance tax in Canada. In short, there is no specific inheritance tax in Canada, but taxes on an estate may still be applicable when you pass on. If you’re on the receiving end of an inheritance, you may also be curious about the effect on your personal taxes. So, let’s answer some of your biggest questions about how estate taxes and inheritance works in Canada. What is an estate? An estate is an individual’s collection of assets at the time of death. For example, this could include savings, real estate, artwork, or any other asset of value. These assets are distributed according to the person’s will.

Continue reading

Best Pet Insurance In Canada

According to an Abacus Data survey from 2021,* 56% of Canadians say they have at least one pet in their household. And, unsurprisingly, when asked if their pet(s) brought joy into their lives, a near-unanimous 98% of respondents said yes. We Canadians love our animals and want them to thrive and continue to be important family members for as long as possible. One way to help protect your companion, and ensure that an emergency or illness won’t cause financial worry? Pet insurance — in Canada, there are plenty of places to find a great policy that works for you. Scroll down to learn more about this type of insurance, what it generally covers, the cost, and our picks for the best pet insurance in Canada. How much do pet owners spend on their pets in Canada? Food. Toys. Treats. Paw protectors. Beds. Little sweaters. Raise your hand if you spoil your cat, dog, or other pet? Let’s not also forget

Continue reading

Best Gold ETFs in Canada for 2022

Investing in gold has long been a popular way for people to diversify their portfolios and safely grow their hard-earned money. However, many people may not be aware of exactly how to invest in gold. While there are a few ways, one of the best and simplest is to invest in a gold exchange-traded fund (ETF). Gold ETFs are funds that consist of gold and operate like traditional stocks that can be bought, sold, and traded on various exchanges. This guide is going to look at the best gold ETFs in Canada, and help you learn more about investing in gold. Is gold a good investment in Canada? In general, the answer is yes. There are a few reasons why gold is (and has long been) a good investment in Canada. First of all, it is a long-term store of value. Investors can have peace of mind knowing that the investment will rise over time. It performs very well in

Continue reading

Best Monthly Dividend Stocks In Canada For 2022

Investing and (some degree of) risk go hand in hand. Any stock or fund can rise or fall, and investing can feel like a world full of uncertainty. However, one way to mitigate some of these risks is to invest in monthly dividend stocks. But what are the best monthly dividend stocks in Canada for your money? Dividend investing is a popular strategy for both new and experienced investors alike. It is one of the few ways of guaranteeing consistent returns/income when investing your hard-earned money. In this guide, we look at some of the monthly dividend stocks in Canada worth your consideration. What are dividend stocks? Before we go over our best monthly dividend stock picks, it is a good idea to review dividend stocks. For starters, dividends are regular payments that a company will make to their stockholders. Essentially, it’s a way for companies to share profits with their investors. Dividends are paid out as either cash or

Continue reading

Car Insurance In Canada: A Complete Guide

Insurance is largely seen as one of those “glad to have it, hope I don’t need it” types of expenses. As we like to say, insurance isn’t about paranoia, it’s about protection. But for car insurance in Canada, specifically? Well, you actually NEED to have it, by law. Driving a car is an essential part of everyday life for many Canadians. In fact, there were over 35 million total vehicle registrations in 2019. As you can imagine, that’s a whole lot of potential accidents. Between daily commuting, road trips, and running errands, you want to make sure your car and the people in it are going to be covered if anything happens. Let’s look at car insurance in Canada, what coverage you need, and how to find a policy that works for you. What is car insurance? Insurance is an agreement, that should you need it, your insurer will cover the costs associated with illness, damage, or losses. In exchange,

Continue reading

GST/HST Credit: A Complete Guide

We Canadians are a lucky bunch. We have access to a variety of government resources and benefits. Moreover, Canada’s tax system is designed to redistribute wealth across the nation. One of the most common tax benefits available? The GST/HST tax credit. Administered by the Canada Revenue Agency (CRA), this benefit supports low to moderate-income families. In this article, we look at how to enroll, payment amounts, and corresponding provincial/territorial programs. What is the GST/HST credit? As mentioned above, the GST/HST credit is a federal tax benefit. It’s available to individuals and families with low to modest incomes. The purpose of the GST/HST tax credit is to help taxpayers offset the sales tax they pay. The benefit is paid quarterly. Related Reading: Guide To Tax Credits —How To Get A Bigger Tax Refund What is the difference between GST and HST? Both GST and HST are sales taxes. This means it’s charged on the sale of most goods and services sold

Continue reading

Best Free Tax Software In Canada

Tax season. Time to get out your financial records, turn off Netflix for an evening, and file your taxes. Are you prepared? Even more, are you looking for free income tax software in Canada? If so, this guide is definitely for you! Before getting into the best options for income tax software in Canada, let’s cover some of the basics of Canadian taxes you need to know. Who has to file taxes in Canada? The short answer is that everyone has to file taxes in Canada. However, personal taxes are only one aspect of the Canadian taxation system. Here are all entities that should file taxes annually with the Canada Revenue Agency (CRA): Individuals: Every resident, temporary resident and Canadian citizen is required to file a T1 tax return each year. Even if you didn’t earn an income, you should still file for the possibility of a tax refund and access to government benefits. Corporations: If you own an incorporated

Continue reading

What Is A Consumer Proposal?

Financial troubles happen. You might not be expecting them, but life happens. And if it feels like you’re alone in it, you’re most certainly not. A recent survey from Equifax found that the average Canadian’s debt is sitting at just over $20,000. When you’re in over your head, and cannot shake your debt, it’s likely that the first thing you’ll think of is bankruptcy. But there’s an alternative that’ll stop creditor phone calls and put you on the path to rebuilding. Meet consumer proposals. What is a consumer proposal? Consumer proposals are an often-overlooked alternative to bankruptcy. In a nutshell, it’s a negotiated settlement with creditors. With a professional, you’ll negotiate a manageable monthly payment schedule (typically over a one- to five-year period) so your creditors are able to recover at least some of what they’re owed. Consumer proposals do not involve your assets/possessions, though they do affect your credit score. They’re also a legal process that will stop creditor

Continue reading

Best Cash Back Credit Cards in Canada

Credit cards are how many Canadians buy everything from groceries to new clothes to dinners out, and everything in between. While there are many types of credit cards out there, one of the best is surely cash back credit cards. Getting a portion of what you spend back is a huge benefit! But what is the best cashback credit card in Canada? After all, just about every financial institution will offer one. This guide takes a closer look at cash back credit cards and explores some of the best options in Canada. What is a cash back credit card? A cash back credit card is a certain type of rewards card. It allows you to earn cash back on some purchases. They are very simple to understand, and you will simply earn a percentage of what you spend back. Typical amounts are 3%, 2%, or even 0.5%, it all depends on the particular card you decide to get. These are

Continue reading

What Is The Stock Market And How Does It Work? A Beginner’s Guide

No matter where you are in your investing journey, you’ve likely common across the stock market. Perhaps a friend, coworker, or family member mentioned it to you in passing. If you’re new to the stock market, making your first purchase might be a bit terrifying. We believe it doesn’t have to be, which is why we created this beginner’s guide. Below, we tackle the basics —including the stock market in Canada — and how to open your own account. What is a stock market? A stock market is a platform that facilitates the purchase and sale of stocks between interested parties. This could include individuals, institutions, or other companies. In any given market, the transaction regularly takes place between an investor and an investor. In other words, the company is not selling you the stock directly. When was the stock market created? Many events led to the birth of the first stock market. In the 1300s, Venetian lenders began to

Continue reading

Find the best advisor option for your situation.

Answer 10 simple questions and start your search for a financial advisor.

Get 12 Smart Questions Everyone Should Ask Their Financial Advisor

Download these questions plus more with the Advisorsavvy community newsletter – subscribe now and enjoy a wealth of knowledge.

Subscribe now and get 12 Smart Questions Everyone Should Ask Their Financial Advisor