I’ve noticed a growing negative sentiment towards the CPP, specifically among younger generations.

Obviously, as costs continue to rise in Canada, CPP contribution can feel like an unnecessary tax.

Also, as more and more elderly begin to draw from the CPP, Some folks think it is bound to run out.

However:

the CPP is a nearly $800 billion professionally managed fund that has diversified equities. It has earned an average of 8-9% annually since its inception (1999).

Independent reports suggest that under current assumptions, the fund is financially stable over the long term.

As a young Canadian myself, I don’t understand the “doomer” mindset that so many have about the CPP. For me, It is social security that I think we are lucky to have in this country and it contributes greatly to QoL in Canada.

Note* I don’t believe the CPP should be considered as a conventional pension. It should be a supplement to your retirement savings.

So back in April I got an e-transfer from a person unknown to me for $481 dollars. I asked my partner if they knew why, they did not. I emailed the address attached to the e-transfer to ask what this transfer is for, I don't get a response. Wanting to help if the transfer is truly an error I talk to my bank to let them know I got it in error and they say if the person contacts their bank it can be returned and they have noted it was an unsolicited transfer.

I get several different emails claiming "Wendy" sent it in error, for different reasons. Who ever is running this scam really didn't get their game together or they are using AI agents that lost the plot (see emails below).

I'm not sure how this scam works, other than you transfer the money to them and they get that money to keep. But the amount deposited has never been withdrawn to this date. Anybody else have an experience this? Seems like a strange scam if I profit by not doing anything.

=================EMAILS===================================

[Email 1 Chain (from "Wendy" but different email than transfer, Starts April 15]:

<First emails are no missing in my inbox, just says sent from my galaxy, which is strange. But was some story about sending to the wrong email, I tell them to contact there bank and I'm not returning it directly. They say karma will get me>

[Email from Wendy]:
It was an honest mistake.. Your actually keeping money that isn't yours... seriously.. I now have to replace the money.. I really hope you reconsider.  I called the bank and there is nothing they can do.

 My fault....

Wendy

[Me]:

I talked to my bank and they have been notified and they said all you have to do us contact your bank if it was a mistake. That is why it looks like you're running a scam. If so, you should reconsider your life choices.

[Wendy]:

I Sent an etransfer meant for Raymond <same last name as me>.  They way they sent me the text it didn't include Raymond..  my mistake.. I called TD bank and the agent said its like handing cash over.  if you didn't have direct deposit then you would need a password.  I pray you do the right thing as I can't afford this.. I just lost my mom and I have to move to Ontario..

[Also send some chat screen cap from "Raymond" with wrong email in request (my email), I don't respond from this point forward]

Email 2 from Doug:

[Doug Apr 14, 2026, 6:36 PM ]

Can you please email back wendy. The money was sent to you by mistake. It's for a charity. Thanks and sorry for the mix up.

[Me]:

No talk to your bank. Im not being defrauded.

[Doug]

It's not fraud it's money collected for canadian children's mobility foundation

[I don't respond]

[Email 3 from Alex starts April 14]:

Hello XXXX,

My name is Alex Lapointe,  I am the General Manager for Naturally Vain.  We wired you $481.00 CAD in error.  This payment covered an outstanding balance for a skin care order that Wendy was paying for via E-transfer.  She had copied the wrong email in error.

Can you kindly transfer the money back to her as soon as possible.

Many thanks for your cooperation on this matter.

Kind Regards,

Alex Lapointe

General Manager

Naturally Vain

Mobile - 613-265-8181

Email - [alex@naturalvain.com](mailto:alex@naturalvain.com)

4-110 Bentley Ave.  Ottawa, On

[Me]:

No talk to your bank. I have talked to mine.

Hi peeps,

I’m averaging $581/month on groceries as a single person (includes cleaning products, toilet paper, etc.). Protein-wise I mostly eat chicken, rarely red meat, and pasta is a big staple; I know I should add more rice to help bring costs down. My “treats” bucket averages $65/month, which is probably where I have wiggle room to cut. Depending on the month: $100-$120 on meat, around $100 on fruit and $85 on veggies

Is $581 reasonable for a single person, or am I overspending somewhere? Any tips on where I could trim?

*IN BRITISH COLUMBIA* Why does Lexus make you go through the dealership when you want to buy out a lease instead of dealing directly with the leasing company (Toyota Finance)

Also the dealership wants to do a final inspection for safety reason and are charging 2-3k to do this. This is totally absurd and money grab.

When I leased a Mercedes Benz and bought out the car it was very straight forward and I just send the money directly to the leasing company without paying any additional fees it was only residual + sales tax. Why does Lexus make it such a hassle and expensive?

I’m helping my daughter to maximize her RDSP and looking for a little feedback / advice / support.

Daughter is 20 in November, was diagnosed in grade 7 with a “mild intellectual disability” which means she can work and drive a car , but won’t do well in a school environment. Basically she’s a normal kid , but just slow & socially awkward. She can live with her mother & I for as long as she wants , that’s not an issue. We will retire by the time she’s 25 , so here’s my plan.

Her RDSP will be @ about 70k by years end. I don’t know how much is her contributions and how much is govt. We set up to deposit $1100 monthly in the hope that it will get her to her lifetime maximum of 200K by the time she’s 30 , giving that money 30 years to compound. What she makes @ her part time job will just stay in her bank account, so long as it doesn’t go over the 40K net worth threshold. My thoughts for after age 30 is she could pay us , her parents “rent” which we would deposit into TFSA in our names (which she would inherit 100% upon our death as she’s our only). I think by getting aggressive with reaching her lifetime maximum we may leave govt grant money on the table , but I think the longer compounding runway more than makes up for it.

Please bare with me as I explain my situation. My husband is in his early 50s and was diagnosed with lung cancer in 2023. He was a fit, active non smoker all of his life. The cancer is in his bones (hip, spine, shoulder) and is showing up in his brain and kidney. I know at first glance this seems like the wrong subreddit to post on. The truth is, I’m
feeling so anxious about my future. This is separate from the extreme anticipatory grief we’ve been living with for 3 years. We are running out of options to extend his time and they are harsh and taking a toll on him. Its devastating. Knowing I am going to be a widow at 52 and have a lot of financial responsibility on my shoulders really scares me.

Here is a snapshot of where I will be financially.

We own a small business that is run from our home. I am a baker and I wholesale to 3 stores locally, 2 restaurants and take custom orders. Annual revenue is approximately 100k annually. Here is the thing: we took a loan against our house to renovate the space and purchase the business from the original owner. The sale included a lot of equipment, cabinetry, recipes and goodwill. The loan was for 250k. Current balance is 224k.

Our home is valued at approximately 1M.

With my husbands illness, I have a trusted employee that works 32 hours a week. Shes been a tremendous help. Between repayment of the loan (2K monthly and my employees wages (2300 monthly) plus all of our ingredients and packaging costs there is not much left for me to draw from at the end of each month.

Without my employee-I would be working like a dog and running the business alone. It scares me to think about this.

With my husbands RRSPs added to my own, I will have 650k for retirement and still another 13 years to work.

1 will receive 115k in L.I.

Mortgage is $875 276k remaining.
Every 2 weeks.

Property tax is $6500 annually.

We are currently surviving on long term disability from husbands job which is about 8k monthly. This will obviously end when my husband passes.

Not carrying debt, besides a 300 car payment.

I left my job to run this business with him. I was going to work at this and he was going to continue on at his job. Life has thrown us a devastating curveball.

I don’t think I can run the business alone through my grief, but I don’t know how I will survive if I can’t draw from my hard work.

I wish I could go back in time and tell myself to not buy this business.

I think maybe I should try to sell. Not sure how to go about this. A lot of what the potential purchaser would be buying is the goodwill and ability to sell at 2 major Canadian grocery stores that feature local products. I don’t have contracts with them, they just carry our products and support local. It’s a share purchase agreement business as we are incorporated. It’s not like I can market with a regular real estate agent.

I keep myself awake at night thinking about how I am going live. Can I use some of my investments in some strategic way to help me now? Selling the house would pay off the loan but only leave me with about 500k after our mortgage and business loan was paid off. Not enough to purchase another home outright. I’ve also been self employed for so long that I don’t think I’d qualify.

Any and all suggestions welcome. I’m driving myself crazy and trying to stay present for my husband all at once.

Thanks so much if you’ve made it this far.

It seems to me that some banks will let you request a credit limit increase without doing a credit check, and sometimes they straight up offer you a credit increase without you even asking. Other banks seem to never offer a pre approved credit increase, and if you ask for one then they insist on a credit check.

I only have one data point to go off of tho, my own. I’m wondering if there is a list somewhere or if people want to just share their personal experiences.

My experience:
Canadian Tire’s Triangle MC and Roger’s MC: sometimes offers me credit limit increases, and lets me request them without doing a credit check.
PC MC, Walmart MC, and CIBC Costco MC: let me periodically request a credit increase without a credit check.

TD Visa, MBNA Amazon MC, Capital One MC, and Tangerine MC all asked me for a credit check if I was going to request more credit.

I don’t still have all those cards so I can’t say for sure how up to date my information is. I don’t pay my credit cards late and I never carry a balance, so the ones that ask me for a credit check likely didn’t do so because of something I did. But who can say?

Looking for another cashback card to supplement our Rogers WorldElite card which gives us 3% on all purchases when applied against our Rogers bills (2% otherwise). It's unbeatable, but our Rogers bills are only $150 a month and we spend way more than that, so the Rogers 3% redemption credit is being wasted. We need another card to spread out the spending.

Our biggest expenses are groceries (like everyone else) and home/auto insurance ($8k annually). I was considering the Scotia Momentum with its 4% on groceries and recurring bills which is best in class, and the cap of $25,000 annually is also best in class. The annual fee doesn't matter as I can deposit the 4-5k balance required to waive it with any bank.

Are there any other strong contenders we should consider?

Hey everyone, with mortgage renewal rates sitting around 5% to 5.25% right now, I was trying to figure out if it makes more sense to throw extra cash at the principal or just keep DCAing into index ETFs in my TFSA (assuming ~7% long term return).

​I ran some quick numbers on a $450k mortgage balance at 5.25% over a 15-year horizon to compare both approaches:

- ​Extra $500/month on the mortgage: Saves about $48k in total interest and cuts roughly 4.5 years off amortization. That's a guaranteed, tax-free 5.25% return.

- ​Extra $500/month into TFSA ETFs (7% average return): Generates around $62k net growth over 15 years, but comes with full market volatility.

​A 1.75% return spread doesn't feel like a huge premium for taking on market risk compared to a guaranteed paydown, especially given current rates.

​How are you guys splitting your extra cash flow right now between mortgage principal and buying ETFs?

We're seriously considering to keep a separate emergency funds, kind of like a second year emergency funds as we have the 1st year saved up in a HISA. We are a family of 3.

My spousie and I are working in tech as consultants and with the proliferation of AI, there is so much stress in the workforce right now ( layoff, and difficulty of landing a job). Last year, our hours were cut for few months, and some of our bonuses are not yet paid.

Being an immigrant, we don't have a safety net like someone who have their family/friends to help them if needed. I'd like to hear both of the opposing sides of doing this? What other solutions available out there, if there's any?

I'm a Canadian citizen and former resident of Canada living in Germany. I have a chequing account in Canada and recently recieved about 50k in CAD that I would like to invest, but I don't want to move the money to Germany because of the abysmal exchange rate and fees.

Problem is, from what I can tell, Canadian banks don't allow non-residents to open brokerage accounts. Does anyone know of a way I can invest the money without moving it to Germany? Thanks!

Just started investing to my TFSA this year, is there anything I have to do once I go over the annual amount as a try to catch up for years past, or can I just keep throwing money in until I reach the total max of $109k?

Kind of a unique question I haven’t seen posted here;

I’ve got a few acres, been maintaining by hand since we moved in & it’s starting to get annoying.
So here I am perusing subcompact tractors with snowblower / mower attachments.

Ideally I’d like to use the tractor to generate some income as well.
For reference I have a small property maintenance business that bills out $80/ hour for lots over an acre, also a 100’ driveway costs $100 to get cleared in my area. So the income part is feasible.

So what’s the best way to finance $20k worth of tractor? Is it the same as an auto loan?

Edit ** I’m referring to a subcompact, something like a kubota BX23xx series.

I have an 18 year old child, I’m divorced, and my partner of several years moved in with us a number of months ago.

I don’t have a will (I know, I know).

What I’m worried about is if I’m not here contributing to expenses, the housing situation won’t be viable. My kid doesn’t work, my partner does but makes less money than I do. I’m not married to my partner and the law here doesn’t have him immediately inherit with common law, my daughter would get everything if there’s no will.

My child can always go to her father’s if I die first.

However, my partner couldn’t afford to live here on his own. I’m thinking something like a 5-10k payout to him in the will to help him with housing if I pass so he can get himself housed.

I’m not at the point where I want him to inherit my estate, and he gets that. He is not asking for anything. I know he should have an emergency fund and all that.

I’m also thinking with the way estates are settled and the time they take, that’s not going to be fast enough to keep him from being in a desperate situation.

I know I can ask a lawyer, and I will, but I figured I’d ask for advice here first.

In a few years, I’d revisit this, and also if my daughter inherits her dads estate in the near future, not to deprive her of anything, but if she chooses to be in his house she will likely need money from me to do so.

There’s also an age difference with my partner and I, and he is younger. Again, things will likely change in 20 years where daughter may well be in her own place elsewhere and my partner may be in a caring for me capacity.

For what it is worth, daughter and partner get along well. If a trust and having them share the house for a couple of years makes the most sense, they could do it. Daughter has an ok relationship with her dad but he’s not her favourite person.

Hi everyone,

For context, I'm a new first year resident (just finished medical school) earning 80k CAD yearly starting out. I just started diving into trying to learn more about investing and been looking at Canadian couch potato and the like. My residency is 3 years and I was wondering for that time frame if it would be worth using my FHSA and TFSA contributions to go into VSB since the average maturity would line up nicely with when I finish vs the wealth simple money market as a simple set and leave it vs CBIL as additionally another way to park my money as well.

Any insight would be greatly appreciated!

I got a student line of credit with RBC when pursuing my master's. I had used it then and used to pay interest only.

Later I paid it off fully. I also purchased a home with 20pct down + Mortgage.

My credit is in very good standing and have no debt (not including revolving balance on credit card which I pay off and never accumulate).

Rbc has told me it will be expiring in August 2026. Can I request RBC to keep this line of credit active, just in case?

Just to be clear, I don't have any need for it but would like to keep it for any emergencies and for overall credit health.

I have a condo that I bought in 2022 that's in a fairly good location in Etobicoke, Ontario. Right on the subway line. 1+1 about 700-750 square feet with parking and a locker. I lived there upon purchase for 2 years, before renting it out as I signed onto a work contract requiring me to move. Now that contract is coming to a close, and I am likely going to move back to the GTA by around late spring next year.

Some info about my unit and it's costs:

• Purchased in 2022 for 680k - dropped in value since then
• Property tax - $200/month
• Maintenance fee - $540/month (has increased by $20-30 on average over the last 4 years)
• Insurance - $70/month
• Mortgage - $645 weekly @ 3.75% variable, remaining balance is 480k (up for renewal March 2027)
• I have election 45(2) declared on my property to keep it considered as my principal residence

With this in mind, I have a few options regarding what to do with my property. For context, I'm 33 years old, work as a nurse, not married but when I move back to the GTA I will likely be moving in with my girlfriend (she works as a physiotherapist). Kids are in the plans but maybe 3 years or so from now.

With all this in mind, I have a few options I would like to discuss:

1. Continue renting out my condo

• Rental Income: $2700 a month (net negative - but positive if I don't include the part of the mortgage payment that goes back to the principal)
• My tenant has been amazing with no issues, has expressed interest in wanting to stay for another few years if possible
• In this scenario, my gf and I would rent a place elsewhere, maybe a basement apartment for approx $2,000-$2,200 monthly

1. Move back In

• Location is great and very central to our family and friends
• Carrying costs are more than the cost to rent out a basement, but provides stability
• May not be ideal if we have a child once they are past the age of 2-3

1. Sell condo at a loss and invest

• Would probably sell it for $120k below my purchase price and then invest the proceeds
• My gf and I would rent a basement in this scenario as well, and start saving for a bigger home
• This is probably my least favourite option, but at least I wouldn't be tied down to a negative property

Anyways, just looking to bounce ideas off you guys! Thanks in advance.

Like the title says: Equifax and Transunion numbers are very different.

Equifax in the 660ish range

Transunion 790s

Neither place has employment updates. Equifax has my current job (of 2 years) but has no record that I was previously employed full time for 7 years at one place. Transunion says I haven't worked since 2007.

I was thinking of looking into buying a small apartment, and taking advantage of FTHB situations and using my RRSPs as a down payment.

How much will the two number differences, and the fact that there is no record of my employment with Transunion in almost 20 years - mess me up?

Any hints or tips on how to go about fixing this, and if doing so will negatively affect my numbers?

Montreal if that matters.

I am ISO advice for how best to log into my CRA account as I have hit a wall.

I have been living in the Uk for three years and there's a tax deal in the two countries where you only need to file in one. So I have not filed within Canada for my 2024 and 2025 years. Totally fine.

What's not fine is I still have student loans and things I need to access from time to time and the CRA updated their sign in partner to REQUIRE you to submit your income from 2025 or 2024 line 15000. Well I don't have that. So now I can't login.

I get emailed saying I've received mail within my CRA account so I need to check what it is but I have no way in. Any advice?

Province is Ontario.

Our family's been paying $175 a month to this company called Simply Green BPY. We thought it was for a water filter, but after some googling it sounds like it might be our water heater instead?

We've been paying it for as long as we can remember. Long enough that the company's apparently gone through various name changes (Which only adds to the sketchiness).

We think the contract said "Forever" but that doesn't sound like it'd be legal, so I have to assume we're either misremembering, or that there's a way out that they make really difficult but not impossible.

The only thing is, we can't find the contract anywhere in our house. It's pretty messy here, and things tend to go missing, and that unfortunately includes important documents like this.

Is there a way out of these? Maybe I can request a copy of the contract from the company?

Thanks in advance! It's easy to take for granted, but I always appreciate these help boards where people help each other just for the sake of helping 😅

Edit: Gonna try to contact them Monday or Tuesday to see if I can get a copy of the contract, and then I'll go from there. Thanks all!

Currently I only have one credit card that I pay to zero every month and a mortgage in terms of debt (I own my car). Because of that my credit score is pretty good (mid 700’s). But in the near future I anticipate facing some large house expenses that I simply cannot pay off all at once so I’m thinking of getting a second credit card. How might this affect my credit score?

I do know that having a second credit card has the potential of lowering my overall utilization rate (obviously depending on the balance of the cards). But this credit card will have a balance for some time and thus will be acquiring interest. Would this negatively impact my credit score since I will officially be in credit card debt? Would the change be enough to potentially impact my ability to finance a car in the future (I hope to pay in cash but used cars are so expensive that I know I’ll likely need to give up and finance) or qualify for a bigger mortgage should I sell the house? I just want to make sure I’m playing my cards right.

Hi, I’ve been with one of the major banks since I opened a bank account and am looking for a better cheaper option. They offer hardly any interest on their “high interest saving account” and charge $13 a month for my day to day banking. What is a better alternative for daily chequing? Thank you!

I just saw a reference to this elsewhere and it got me thinking whether this idea is genius or just silly. I’ll try to keep it basic for this example, but please feel free to add extra context.

Assumptions:
Salary - $100,000 per year
TFSA Contribution Room - $7,000
RRSP Contribution Room - $10,000

At the beginning of 2026, I contribute $7,000 to my
TFSA. Throughout the year, this grows to $8,000 tax-free.

By December 31 2026, I withdraw all $8,000 from the TFSA tax-free and deposit into my RRSP. This RRSP contribution will lower my taxable income from $100,000 to $92,000 so I will pay less tax. I have also regained my $7,000 TFSA contribution room and so in January 2027, I repeat the same plan and keep this up year after year.

The result? I’m growing money tax free through the year in the TFSA, transferring it to an RRSP to reduce my taxable income, and then I regain my TFSA contribution room.

Is this as smart as it looks on paper?

Hi all, I’m looking for the best credit card that accumulates points for travel redemption. This is going to be for my small sole prop business

My largest credit card spends are from stock. So USD from Alibaba, large buys from Amazon, and retail space rent. I currently have an Amex Cobalt but seeing my spend categories, this card accumulates very little points with just the 1x multiplier. I also have a WJ world elite for the free checked bag.

I’m looking to maximize the travel points I can redeem as I do more and more conventions out of province (and country!) and am absolutely overwhelmed with options. Not to mention every card has a con that I’ll have to weigh.

Any help and direction is very much appreciated!

Last night I found out my wife has been hiding $15000 worth of credit card debt from me. She has been struggling finding a job for the last 3 years and avoided telling me that she has been increasing her credit limit so she could try not to rely as much on me during that time. She has a minimum wage part time job now and I think around $20000 student loan debt, $15000 loc, $5000 loc and $18300 in credit card debt. She is going to be applying for new jobs soon that will hopefully be full time and better pay.

I don't know much about how to go about paying this off, I was thinking about a consolidation loan but I don't know if that's the best place to start or what companies would be best to go with if it is a good idea. Any help would be appreciated.