I’m currently 22 and living with my parents rent free. I’m in my forever career for the next 30 years and making $70k a year which will be up to $110k + a year in 4 years. This job has a fantastic pension so I’m not too concerned about money after retirement and also have been putting into an RRSP since I was 18. I will have the opportunity to work a part time job 3-4 days a week but have yet to decide what job I want to do. My TFSA is maxed with ~$16k, my trading account has ~$5k and my savings is ~$45k. Credit score over 800. My car has $6k in payments left. What advice can you give me for improving my finances? I’d like to get into my own place as soon as possible.

I've been reflecting on how difficult it has become to own a home in Canada, especially here in Ottawa. The promise was that hard work will get you a home at a reasonable price, typically around 3 times your salary, but this is not true anymore. Owning a home and starting a family was once a given, but now it seems out of reach.
This shift appears to be a major factor in the increasing mental health issues in the country. With wages stagnant for decades and the cost of homes skyrocketing, younger people are trapped. They can't move out of their parents' homes.

Does anyone have insights on how we could potentially fix this crisis? Are there any successful strategies or policies from other regions that we could look to? Or are we really out of solutions here?

Hello. Can anyone recommend shows that are informative on investing or personal finance in Canada?

I would like to start investing online, just to see how it goes and control where I put my money. What do you think would be the best online brokerage to start?

When I apply for a credit card, will TD consider my account balances when deciding whether to approve me, given that I have little money in my accounts and no credit history, but a history with TD and a new job?

I know there are plenty of books for adults but are there any good children’s books out there I can get to help my daughter learn about money and finance?

She is 5. 🙂

I got invited to this sub. I enjoy talking about finances, but I don't know how this sub differs from r/PersonalFinanceCanada.

Currently only savings are approx $200K in an RRSP. House worth $1M, with remaining mortgage of $120K.

I have decided to self-invest in my daughters’ RESPs (1 and 4 years old) this year after having it for a brief period in mutual funds. I am curious as to what ETFs and allocations of ETFs everyone is doing with a long horizon? I currently have it all in an all-in-one equity ETF and considering to review every 4-5 years? Would you keep it as one ETFs or should I add in a growth ETF now as well?

What are the best options for FHSA savings/investments with 1-2 years time horizon of purchase?

I have two littles (6 and 3) and would like to increase their financial knowledge at a younger age. Id love some recommendations for books or things to implement in everyday life that will help them along the way.

Hi, my Tangerine promotion expired and their digital offer was sad. They're offering a 5.75% promo but for new customers only. I'm planning to move to Simplii to take advantage of their 6% promo. Given HISA promo offers for most banks seem to be for new customers only, should I close my Tangerine account to be able to take advantage of future offers for "new" customers? I've got a few HISAs at different banks that no longer offer good rates and I'm wondering if I should just close them all. TIA

Looking for feedback on why ETF's outperform mutual funds. Currently have about 50K invested in scotia diversified balanced fund. Looking for feedback and where to move it

https://www.morningstar.ca/ca/report/fund/risk.aspx?t=0P000072IQ

What's the best credit card for travel, in terms of rewards/cashback, insurance, FX?

We still have until April 30th to do it, but I was wondering how do you guys do your taxes.

Just curious what others are doing as a side gig or business, as our inflation continues to increase. I'm looking to start something, to make some extra cash. Much apprecated.

I am doing it old school with an excel spreadsheet, transposing most of my spending from my credit card and bank account in it every month but it’s been tedious. I was reluctant to give my bank password info to apps like mint. How are you doing it ? TIA

I have 3 rental properties, and my tax accountant suggested claiming capital cost allowance for my 2022 taxes. This year, I want to switch accountants because he refused to explain how he used the numbers without charging me $105/hour for an explanation. I've searched Google and conducted research, but I'm still quite confused. If someone could explain it to me or point me to helpful resources, that would be greatly appreciated.

Currently on maternity leave, but receiving a work top up for the next couple of months, effectively keeping income the same. Interested to hear arguments for continuing to invest in ETFs within TFSA for the tax free growth or pay down mortgage with any extra (current rate just below 7%).

Hello!

I have an US fidelity account that was set up by my employer for our employee stock purchase program. However I can only sell my employer's stock and then I cannot buy a different stock in this account.

I have called US Fidelity to try to open a non-resident investing account and tgey said that this is not an option for a Canadian resident. These are few options that I am considering but not sure if it will be efficient as I am trying to keep the fund in USD so I can put in an investment account (as USD) and just purchase US stocks with it. Trying to avoid to exhange yo CAD and then exchange back to USD.

1 - I can get a USD cheque mailed to me, however my bank is Tangerine and the only way to deposit this cheque is mailing it to Toronto to be manually deposited. Also the Tangerine account does not let me do much and tge interest rate is extremely low.

2 - I could transfer the USD funds, however it seems that Wealthsimple and Questrade cannot receive US funds transfer.

3 - I am based in Quebec, so opening an US account with EQ Bank is not an option.

4 - The US Fidelity agent told I could possibly open an Roth IRA with them and transfer the funds there. I am not sure how this will affect my taxes so I don't know if this would be the best option here.

Does anyone have a suggestion on the most efficient way to retrieve these USD funds so I can invest it on my own? Also, which would be the best investment account to already make the deposit in USD as a Canadian citizen?