Mobile apps are great for investing and managing your money on a day to day basis, but the internet still rules for researching your next move. Whether you’re researching stocks, buying guaranteed investment certificates or looking at taxes, the best tools are found on the web. Here are a few that stand out for their usefulness:
I have 20 watchlists going on Globeinvestor to help keep an eye on various stocks and sectors. There are five different views for each watchlist, including one focused on dividends. Watchlists can be accessed on a mobile device, but the scope of information is ideally viewed on a bigger screen.
Stock quotes with a higher level of detail than you typically find, including data on moving averages, trading volumes, short interest and dividend growth.
2024 Ernst & Young personal tax calculator
Handy for documenting how much tax you’d pay at various income levels on regular or interest income, dividends or capital gains. Details for all provinces and territories.
Canadian High Interest Savings Bank Accounts and Cannex
The first of this pair is a go-to resource on the best GIC and savings account rates, while the second offers a market-wide survey of rates for savings and GICs as well as a sprinkling of information on annuity rates.
This link takes you to a page tracking the yield of the five-year Government of Canada bond, which gives you a sense of how financial markets see interest rates. Falling bond yields tell you there’s optimism about declining inflation and rates, and a blip higher for yields means this optimism is fading. Also, five-year Canada bond yields have a big influence on fixed five-year mortgage rates.
This link takes you to Mr. Thrifty’s well-maintained directory of investment savings accounts, which are savings accounts structured so you can buy and sell them like mutual funds through an online broker. Interest rates are quite competitive, and there is generally coverage through Canada Deposit Insurance Corp. Note that some brokers only allow you to buy their in-house ISAs.
CDIC insures eligible deposits for up to $100,000 in combined principal and interest, which sounds straightforward. However, there are nuances which can mean more coverage than you might expect for a variety of accounts held by the same person. Find out how much coverage you have for your GICs and savings accounts using this CDIC calculator.
Rob Carrick