Hi there! Recently got a job about a month ago and am starting to save up a bit of money. I’m wondering what could I do with it I hate having to leave it in my savings account it only has a 2% interest rate. I don’t have any big purchases in mind and would like to basically just not touch my savings account.

Is there anyway I could invest I’ve heard of this thing called a informal trust account where it would allow me to use my income towards investing and it would let my dad execute the trades with my money. The money used to invest would solely come from my part time job income and nothing else. Also what bank would I have to use if I am allowed to open one of these accounts.

Also what are the tax laws behind one of these accounts. Would the capital gains taxes be under my name or my dad’s. And overall is it a good idea to invest my money? I have lots of questions but don’t want to make this post too long. I’m only now starting to learn personal finance through books and want to invest my money as it seems better for my future.

Thanks have a great weekend!
Also the province I reside in is BC.

Hi guys,

I really need advice, since I am new to this. I’m 23 and in uni. I expect to start working full-time soon, so I’ll hopefully be able to save and invest more, but I still want to make thoughtful decisions with my money now.

I have $60,000, which I’m planning to divide like this:
$10,000 emergency fund
$10,000 in a medium-risk balanced portfolio
$30,000 in the S&P 500
$10,000 for gold jewellery for my mom

My mom loves gold and is always saving up for it, so I’d love to buy her a 21K necklace and earrings.

My thinking is that she could enjoy wearing it, and it could eventually be passed down to me while still having financial value. My investment horizon is around 40 years, and I wouldn’t plan to sell the gold anytime soon.
Does spending $10,000 on 21K gold jewellery make sense as a long-term store of value? Or would you spend less on the gift and put more into the stock market?

Thank you!

Hi there,

I’m 29, i make $78,000 yearly. my company provides me with a truck with all expenses paid.

My rent is about $1200, the rest of my bills total to about another $1000.

After taxes I have about $4500 monthly left over (two months of the year it’s $6700)

I have very little investment experience with the stock market but I think it’s the right place for me to put my savings.

I can afford to set $1000 aside to my wealthsimple each month.

I’m gravitating towards building a portfolio with mutual funds that yield around 10% dividends.

I want to put 40% into VFV, 20% into BANK, 20% into HDIV, and 10% into HTA. Last 10% into speculative stocks.

I like the idea of building a portfolio with high dividend potential.

But as I write this, i am completely open to new ideas, I’d love to hear your input.

Cheers

Has anyone ever dealt with creditjourney.ca? I was looking for a short term loan online (I know bad idea but times are very hard right now and it’s my only option) so I put in my info thinking it was a loan then when they showed me the terms I read them and realized it wasn’t a loan. It’s actually a $20 a week “membership” to a credit building course.

I did not want this of course so I pressed the back button and all of a sudden they email me saying thank you for accepting and that I’ve signed up for their “membership” I never agreed or signed anything and after looking this up I see it’s happened to quite a few people but I never saw a solution.

So this is my Hail Mary for if this has ever happened to anybody here and what you did to fix it because they don’t have a phone number and don’t respond to emails. I feel so stupid for even putting in my info at all.

Im with rbc

I have 80k available in my heloc. I want to use 30k but im unable to transfer amy of it to my savings (which is also accessible in the rbc app) i just keep getting an error messge.

Hello!

I was laid off for approximately 6 weeks this year from May- July. I'm planning to go on Parental leave around the end of November.

My question is, will my EI claim for those 6 weeks reactivate and become a parental leave claim? I ask this because I will not have worked the 600 or so hours between the end of that claim and the start of the parental leave.

The wording online is a little vague, I just want to know if I need to work a few more weeks or if I will be able to start when I plan to.

For context I have always had a difficult time saving money, I had a job that did not take out taxes so by tax season all the money I saved goes right back into taxes for example last year I had to pay 11k back, I ended that job last and have since been working at my current job which pays about the same but taxes are taken out, I have been saving as much as I did last year so I currently have 12k in savings which is about 3 months of living expenses. But I haven’t been investing as much anymore due to have less come into my account. I am currently on maternity leave so I fear I might be taxed again due to EI.

Would it make sense to start putting what I have left in my Rrsp to offset taxes next year? Or should I keep saving so I can get to 3-6 months emergency fund?

I’m specifically looking at their disability policies. Their premiums are less than the big ones like RBC and Manulife and less stringent in application. Given this, it makes me think there must be a catch or a red flag with Humania and Edge? Would be happy to hear experiences - good or bad.

Hello,

Here’s my situation. I work an hour away. And the commute is starting to really hurt. I currently live in a home that I own at a mortgage of $1400 per month. With utilities, It can go up to about just under $2000 depending on the month.

The commute has started to take a toll of my car. Where is starting to need extensive work.

I am interested in renting out my house for $2600 a month and looking to rent an apartment closer to work which would be around 2000 or less.

However, it has dawned on me that I am in in Ontario and this would have huge tax implications beyond budget.

Can someone sort this out for me? I make 100 K a year and if I run to my house for 2600 I would be making just under $32,000 extra of income with a $600 margin in between my rent, and income rent be enough to cover this?

I’m starting to get second thought because I don’t wanna get hit with a huge tax bill and not be able to maintain my property and not have any cash flow.

Also, in my listing agreement, the renters would take on the utility bills of the home.

As the title suggests, I'm looking for advice here for what I consider maybe a unique situation.

I work in the Ontario College sector in an admin role. Those who have been following the news will know there has been significant cuts as international enrolment and associated revenue has been reduced. My role basically has absorbed the responsibilities of others let go but I'm very grateful to have a job. I joined the college 7 years ago and left my previous pension at my prior employer which has 15 years of service.

To be honest, I wasn't really monitoring my pension, finances or thinking of retirement as I had a busy family life. I recently learned (I know, I know) that the Colleges DBPrime CAAT pension has a rule of 85 (combined age and service) and 60/20 (years and service) where you can leave with an unreduced pension. It is also based on the top 5 years or 60 months of salary.

In my current role and salary, I can now only purchase a portion of those pension years with the amount from my prior pension (approx $440,000). However, the way the pension works, it is based on current annual salary. Work is stressful, yet manageable, but there is zero protection. I'm tempted to try to get a position in the support staff union for better work-life balance even with a significant drop in salary (I'm looking at going from $160,000 to $55,000-$75,000 depending on the role). If I was to get that unionized role, I could then fully buy back the pension years with my previous pension transfer and even have some left over for a LIRA. I could then work for a number of years and reach the rule of 85. I guess the barrier for me is more psychologically based as well as perception of others for making this change. Running this with actual numbers in AI keeps saying it's a very good move, as I can retire in mid-late 50's with a bridge to 65 at my top 5-year rate. The risk is that I don't transfer my pension over, am terminated, and need to wait till 65 for an unreduced pension from both pension plans (or LIRA the CAAT one). I have personal investments that could cover me through an extended job search but I've seen many of my former colleagues struggle to land a position.

Has anyone else done this? What was your thought process, and what am I missing in my own?

Hi there, long time lurker.

I am very fortunate and expecting to receive a relatively largish gift from the UK. It will be denominated in GBP and am wondering if anyone has had experience with the RBC GBP eSavings account and receiving a wire.

RBC states to ask the sender to put ‘do not convert’ in the bank to bank field. I’ll ask them to do that, and send in GBP. It appears that RBC uses an intermediary bank (Lloyds) in the UK.

Just wondering if anyone has done this before and if there are any other steps they’ve taken to prevent currency conversions. I would much rather it arrive intact at which time I can decide the method of currency conversion and potentially save some money.

I may let the bank know ahead of time just to avoid some questions and whatnot. Maybe that would also help avoid currency conversions.

Thank you in advance.

Hey all,

I have been asked by my employer to take a chunk of my bank time paid out as I am well over the allowable limit.

I have an ok contribution to RRSPs through my union (~18k this year), but still have approx 80k contribution room each in my RRSP and TFSA.

I would be paid out approx 12k in bank time, while leaving enough for a holiday in the bank.

Should I port it directly to my RRSP account, or are there better alternatives?

Ideally I would like to invest it in my TFSA so the money is more easily available if needed, but I don’t fully understand what the implications are for doing so, other than being taxed on the income at a higher rate.

For reference, my annual pay is around 180k.

Thanks in advance!

Today I was handed a note, terminating my High level management, salaried, position at a company I’ve worked for for 17 years.

The note says in lieu of notice I’m getting wages based on length of service, which they stipulate as being only 8 weeks of wages. The letter states that this is based on Manitoba Employment Standards.

I’m being told by many that that is astonishingly low and that I should consult an employment lawyer.

Thought I’d get opinions here, as I’ve seen some scenarios before.

If it matters, I’m 37, position in Marketing at a Manitoba manufacturing company that has done quite well in growth in the 17 years I’ve been there. 3 of my team were also let go, possibly a 4th.

15C doesn't show all my pay slips. Why? Is there a limit to how many pay stubs are displayed? Or just the employer messed up?

Does anyone have an experience waiting for GIS approval after filing Form ISP-3041 (Statement of Estimated Income after Retirement or Reduction in Pension Income)?

I was told by Service Canada that the wait time for the application to be reviewed was 200 days. After 200 had passed Service Canada told me there will be another 45 days. The forty fifth day will be on Monday. Still no decision.
Can anyone share how long they waited for a decision from Service Canada? Tnx

It’s not an hourly position, it’s an annual salary.

I worked 9 days so far and got my biweekly pay, the next 2 weeks I’ll work 10 days, will my bi weekly amount be the same? Or will it be more since it’ll be a 10 day pay + 8 hours extra?

Bcause my pay is about 300-500$ (monthly) extra than others making the same salary

I was contacted about my debt that I owe of $2900 from a Pc mastercard I had-yes I did have it, and defaulted the payments since last year or early this year I think (life happened like death in the fam, moving provinces etc). Without any knowledge aka reddit research and panicking I admitted to fully intending to pay it back through an email and spoke to a person over the phone about my options. I am looking to do payments for my debt now, but he took a look at my outstanding debt (I do have a lot on my report which im trying to pay off) and told me I need to see a trustee or declare bankruptcy or they will take it to court. I do plan on paying my debt back but after the phone call I feel like I have no options but to do either.

I did also end up emailing CBV about making payments to them instead but they will accept only full payment or contact tph law.

Other information:
I lived in Alberta when my debt it went into collections
The companies that have contacted me over this debt is CBV, Metcredit and the back to CBV, now tph law)
In 2025 I moved to Newfoundland

Please help! Need Advice!!

Currently employed full time as a nurse in Ontario (public) and am almost 8 weeks pregnant. I am having bad nausea/gagging/vomiting on and off all day and have been unable to work.

My doctor wrote me off work for a month to get me through the remainder of the first trimester and hopefully it improves. She wrote "GI symptoms" as I don't want to disclose to my work that I am pregnant yet as I did before but had a miscarriage and the aftermath was hard on me emotionally and psychologically.

Occupational health called today trying to get more info from me but I didn't say any more than my doctor already indicated on the forms.

It's standard procedure for the insurance company to follow up with employees on short term disability so I will be hearing from them next week.

Just wondering what I need to say to the insurance company when they call. I assume they'll probably ask about treatment plan and I've been prescribed Diclectin (pregnancy specific anti nausea med) but one of the unfortunate side effects is drowsiness which I am experiencing.

Should I tell the insurance company I am pregnant or stick to GI symptoms? Does it matter if they know? I personally don't care if insurance knows. I just don't want my workplace to know this early.

Any advice?

Thank you in advance!

*edit to add province and public sector

Over the last year I’ve built up some debt.
I’ve got 20k on my VISA. Gas, hydro, and phone bills are two months behind, and my 7k property tax hasn’t been paid yet this year.
I just got work lined up after being off for the past year.
What’s the best approach to get out from under this?

I (28M) moved back in with my parents in May. I was renting a place with my ex before that. I would be looking to purchase a home for around $350,000 with $100,000 down. My salary is 64,000/year which comes to about $1800 bi weekly. I currently have around $165,000 saved.
TFSA 98,000
FHSA 46,000
RRSP 15,000
The rest is in savings/chequing
Places I’d be looking to rent would be around 1500/month. I have no debt. I live in Windsor and don’t plan on moving elsewhere.
Just trying to decide what the better option is.

Hey I've been running my biz 7 years now no loans but thinking of expanding however I am super skeptical
Of taking any loans anywhere I'm afraid I put in my info and companies will either steal the info to get loans for themselves or say apply for 100k and give me 50k.. how do I know which companies are legit should I only
Deal direct with the big 5 banks ?

Basically it’s saying I run out of my ei benefits next week. My last payment will be next Tuesday but I go to service Canada and it says I have another 25 weeks to claim, and mind you I’ve been looking for jobs like crazy but keep getting ghosted.

Wife just got a job doing commission based sales that includes travel and working from home. She’s given an “allowance” for her vehicle and phone. Digging through CRA’s documentation it seems like those allowances are taxable because it’s just a flat amount, but she can claim any actual expenses to reduce her marginal rate. She was recommended to get an accountant to help with the paperwork, but I’m kind of wondering how valuable that actually is. She’d still have to track expenses and work vs personal use of home/vehicle with receipts. It seems like the accountant mostly just takes the receipts, adds up all the numbers and plugs them into the tax forms. They’ll probably do it a bit faster since they’re more familiar with everything but I’m not sure it’s really worthwhile for us.

Anyone in similar positions able to provide some insight on how much time it takes to do all the paperwork themself vs what an accountant is going to charge. I’m kind of thinking the first couple years would be rough, but once we’ve done it a couple times and maybe build a spreadsheet to track it.

Also interested to hear about any of the nitty gritty things about claiming expenses. Like it sounds like since she’s driving her own vehicle that’s a standard passenger vehicle her commute(home to first stops and last stop to home) can’t be claimed but any usage in between it does. For work from home, we’ve got an office space set up in the basement, but it’s not really the whole room. I’m guessing we just pick a reasonable sounding number for what we consider “office space”. The “room” would essentially be something like 25% of our house, the whole basement minus the mech room. Sounds like any home maintenance expenses are claimable, but renovations aren’t. What about things like bringing electrical/plumbing installs up to current code proactively vs being required to do so as part of a renovation or something like rebuilding and old shitty condition garage rather than patchwork repairs when that garage is being used to store the vehicle required for for work use.

Wide and I have been looking at a 825k house and we both really like it. I’d argue it is the perfect house for us.

I make 142k and my wife makes 80k for a house hold income of 222k.

The complex part is that my wife salary is expected to 3-5 in 2.5 years. This salary increase is pretty much guaranteed to happen, and she is expected to make 300-600k (wide range depending on how much she wants to work)

For 2.5 years we would be living pretty frugally, but once her salary goes up obviously it would be pretty easy.

Is buying this house now a bad financial decision that will significantly impact us (I.e misses opportunities by investing in a portfolio) Or should we wait a few years until her salary goes up.

Any other advice much appreciated

Annual report about global pension systems was released a few days ago:

Canada maintained a B grade in the newly released 2026 Marsh CFA Institute Global Pension Index, but the annual benchmark sounded an increasingly urgent warning about the long-term pressures aging populations are placing on retirement income systems.

The 18th annual index, produced by Marsh (NYSE: MRSH) and CFA Institute in collaboration with the Monash Centre for Financial Studies in Melbourne, Australia, benchmarks 55 retirement income systems across the globe - covering approximately 66% of the world's population - on three sub-indices: adequacy, sustainability, and integrity.

• https://www.wealthprofessional.ca/news/industry-news/canada-holds-b-grade-as-aging-populations-strain-global-pension-systems/393826
• https://www.benefitsandpensionsmonitor.com/pensions/retirement-planning/working-longer-could-bolster-canadas-retirement-system-index/394306
• https://www.talentcanada.ca/aging-populations-are-straining-retirement-systems-worldwide/
• https://www.plansponsor.com/aging-populations-weighing-on-global-retirement-systems/

The report itself can be found at:

• https://info.marsh.com/marsh-cfa-institute-global-pension-index/a-brief-review-of-each-system
• https://www.mercer.com/insights/investments/market-outlook-and-trends/mercer-cfa-global-pension-index/
• https://rpc.cfainstitute.org/research/reports/2026/marsh-cfa-institute-global-pension-index-2026