Proving to be more than just a pastime, Canada’s video game industry contributed $5.1 billion to GDP in 2024. That is thanks to the work of 821 studios employing 34,010 people. These numbers come from a recent economic impact study conducted by Nordicity for the Entertainment Software Association of Canada (ESAC)
"The video game industry is a cornerstone of Canada’s digital economy, creating high quality jobs, driving innovation and showcasing our creativity on the global stage," Paul Fogolin, ESAC president and CEO, said in a statement.
"Our video game studios have had to navigate significant challenges coming out of the pandemic, but this report shows the maturity of the industry overall, and the importance of continuing to invest in its growth and success."
While these numbers are surely impressive, there has been a slight decrease in employment (-3.5%) since 2021.
Canada’s video game sector
The report shows the decline in employment was offset by an increase in the percentage of full-time employees (from 81% to 86%), and a 21% increase in average salary across all roles to $102,000 per year. Overall, this resulted in 3% growth in the economic impact of the sector.
There has also been an increase in the number of women employed in the industry, from 23% to 26%.
As of 2024, the Canadian video game industry had 821companies actively operating in Canada. This was a 9% decline from the peak in 2020-21, with most of the decrease coming from companies with less than 25 employees, while the number of large companies increased slightly during this time.
In addition to a strong workforce, one of the reasons why video game production companies have been so successful is because 88% of the industry’s revenue comes from exports.
"Canadian studios have developed some of the most well-known and successful video games in the world," Deirdre Ayre, Other Ocean Group Canada Ltd.s’ head of Canadian operations, said in a statement.
"The diverse talent and positive business environment in Canada have allowed our member companies, throughout the country, to grow their studios and develop incredible games. From small indie teams to global AAA studios, Canadian developers are producing games that resonate with players worldwide."
Provincial breakdown
Ontario, BC and Quebec have 83% of all employees who work in Canada’s video game sector. There are 15,220 employees in Quebec with 257 studios, 10,930 employees in BC with 146 studios, and 6,090 employees in Ontario, with 276 studios.
The Atlantic region has 750 employees and 41 studios, the Prairies have 210 employees across 33 studios, and Alberta has 810 employees across 68 studios.
While most companies remain Canadian-owned (an estimated 76%), foreign-owned companies account for 88% of the total industry employment.
The largest 25 companies supported 58% of the industry’s full-time employees.
With cost of living crisis still capsizing the personal finance startegies of many Canadians, nearly half (46%) of non-retired citizens prioritize spending on their current lifestyle in place of saving for retirement.
The IG Wealth Management annual retirement survey mainly attributes this to having to paying off debts (38%) or preferring to enjoy their life now (18%).
"Rising costs and mounting debt repayment challenges often undermine Canadians’ ability to save for retirement," Christine Van Cauwenberghe, IG Wealth Management’s head of financial planning, said in a statement.
Respondents have aspirations for their retirement years, it’s simply that the demands of the present – debt and other financial pressures – are taking precedence.
Financial pressures in the present
IG Wealth Management found four-fifths (80%) of respondents say the rising cost of living makes it difficult to save for retirement, while over half (56%) have put off saving due to financial pressures.
Additionally, almost half (47%) expect to retire before 65, but one-third anticipate working later to afford basic living expenses, supplement income or maintain social connections.
Despite financial pressures, two-fifths (38%) of respondents hope to prioritize travel in retirement, while 17% envision working part-time or consulting, and 33% plan to focus on hobbies and interests.
On average, non-retired Canadians allocate 12% of their income for retirement, but spend 67% on basic living expenses and 20% on leisure activities.
Three-quarters believe their generation may not retire as comfortably as current retirees.
Much needed financial advice for Canadians
The survey also found only one-third of non-retired Canadians reporting that they work with a financial advisor. Of those who do, the majority state that their advisor helps them balance enjoying life today while saving for retirement (76%) while also personalizing advice to match their needs (91%).
"No two retirements are alike. With help from a financial advisor, Canadians can build a personalized retirement plan tailored to their unique needs to help manage today’s financial pressures with their desired retirement lifestyle," Van Cauwenberghe said.
Survey methodology
This study was conducted in December 2024 by Pollara Strategic Insights with an online sample of 1,511 Canadians aged 18 years and older and not retired.
While traditional stocks remain a staple for many investors, today’s market volatility has inspired a search for alternatives that offer both financial growth and a tangible connection to passions.
Enter collectible investments: a diverse asset class where fine art, vintage wines, rare trading cards and even classic comic books hold the potential to yield big returns. For investors seeking a unique blend of diversification, personal enjoyment and potential market-beating gains, collectible assets might be the ideal choice.
Ready to expand beyond stocks? Here’s your guide to eight collectible investments that can add excitement — and value — to your portfolio.
Most popular collectible investments
Curious about alternatives to the ups and downs of the stock market? Explore the world of collectible investments — from art and rare cards to fine wines — and learn how these unique assets could boost your financial strategy.
Investing in collectibles isn’t for the novice trader or those focused on building up their retirement fund. However, investing in collectibles can be a great way to turn your passion into profit. If you want to shake up your portfolio consider the following eight type of collectible investments.
1. Artwork investment as an alternative
People have been creating and collecting artwork before there was a way to buy and sell stock. So, it shouldn’t be a surprise that art investments are one of the most popular alternative assets in the current investor marketplace.
For high-net-worth (HNW) investors, purchasing and displaying fine art may be the goal. The thrill of gazing upon a multi-million dollar sculpture would be exhilerating.
However, for most investors the purchase and display of high-value art is out of reach. That doesn’t mean Main Street investors can’t add fine art to their investment portfolio. Artwork investing platforms, like Masterworks, reduces the financial barrier to investing in fine art. Like crowdfunding platforms, artwork investing platforms allow investors to buy and sell shares in the value of fine art. When the value in the piece increases, so do the value of the shares. Investors can then opt to hold their stake in the art or sell using the secondary marketplace created by these artwork investment platforms.
So what’s the upside? Art investments have the potential to outperform the stock market, while providing some downside protection when equity markets stumble. To illustrate, Masterworks compared data on the performance of contemporary artwork compared to the performance of the S&P 500 (SPX:INDEX), US real estate and gold:
Masterworks
According to the Citi Global Art Market Chart 2023, contemporary art has delivered an annualized return of 14% from 1995 to 2020, outperforming the S&P 500 (9.5%), gold (6.5%), and US housing (4.3%).
This doesn’t mean there aren’t risks, even with artwork investing platforms. Art as an investment is a lot like real estate. In general, these are illiquid, meaning it can take longer to sell, and there are typically higher costs to completing a transaction. Also, investors can’t earn income from art. Instead they must rely on appreciation and an eventual sale to get your return. Still, artwork investing platforms, like Masterworks can help reduce some of these risks — creating a shorter secondary marketplace for art investments, using an equity-based strategy for investors and reducing the target holding period required before crystallizing profit.
2. Trading cards as an alternative investment
In 2022, a 1 PSA 10 Illustrator Pikachu was bought by YouTube influencer Logan Paul for approximately USD$5.275 million. In that same hear, a PSA 10 Gem Mint grading Shadowless 1st Edition Holo Charizard Pokemon card sold for an astonishing $420,000. And if you don’t know what all that jargon means, don’t worry. In simpler terms, someone just paid the equivalent of a nice house (or big mansion) for a child’s collectible playing card. According to a PSA Market Report, the PSA-graded trading card market has grown by 700% since 2020, fueled by demand for sports and pop culture collectibles.
Investing in trading cards isn’t anything new, and people have been buying and selling trading and sports cards for decades at this point. But in recent years, there’s been a surge in certain trading card niches like Pokemon. According to Grand View Research, the trading card industry was valued at USD$44 billion in 2023 and projected to reach USD$98 billion by 2030 at a compound annual growth rate (CAGR) of 8.2%. This rise in interest has been largely fueled by people picking up new hobbies during the pandemic and card collecting becoming more mainstream with celebrities getting involved.
This sort of sudden interest presents a lot of opportunity for flippers and collectible investors to turn a profit. It’s almost similar to crypto in some regards since when a lot of new money piles into an industry, the early adopters can usually cash out on the wave of popularity. Personally, I wouldn’t dabble in trading card investing unless you’re very familiar with a particular trading card game or sport and know how to spot a deal. But if you just want to dabble in this collectible investment, you can use platforms like Collectable to buy fractional shares of rare sports cards and other sought-after merchandise.
3. Wine as an alternative investment
Like artwork, wine is another collectible investment that can help diversify your portfolio. Wine also helps provide downside protection since wine prices don’t usually correlate too strongly to the equity market. And the great news is that you don’t need a million-dollar wine cellar to add wine to your portfolio.
According to Liv-ex Fine Wine Market Report, the Liv-ex 1000 Fine Wine Index returned an average of 10.6% annually since 2006, outperforming the S&P 500 in multiple years. As an asset, fine wine experienced a 60% growth in value over the past decade and, according to a Vinovest report, Bordeaux and Burgundy remain the best-performing wine regions, accounting for 62% of total wine investment sales.
Platforms like Vint and Vinovest let you invest in fine wine from around the world starting with $25 and $1,000 respectively. With Vint, you buy shares of wine collections, and you don’t need to be an accredited investor or even know much about wine to get started. Unfortunately, it’s only available to American investors. As for Vinovest, it’s similar to a robo-advisor and provides automated wine investing for a variety of portfolios.
Both Vint and Vinovest handle storage and wine insurance as well, so it’s a passive investment.
So why bother invest in wine? Because of the potential for higher-than-average returns. For instance, data that tracks Liv-ex Fine Wine 1000 — the indice used to track the value of the 1,000 wines from across the world — wine, as an investment, has outperformed the S&P 500 since 2006.
Vin + Yahoo Finance
Keep in mind, the Liv-Ex Fine Wine 1000 indice was developed by the London International Vintners Exchange, Liv-ex for short, as a business-to-business fine wine trading platform. Once the demand from retail investors was realized, the indice and wine investing platforms began to pop up.
Like many other collectible investments, a lack of income generation is a downside of wine investing, as is liquidity since you can’t usually sell off your wine portfolio in a single day like you can with stocks. However, as platforms like Vint and Vinovest pop up, the barriers to entry for wine investing are only getting smaller.
4. Comic books as an alternative investment
Like trading cards, certain comic book series and characters have incredibly loyal fans. This can make old, rare comic books immensely valuable in the eyes of collectors. By investing in comic books and holding them for the long-run, you’re banking on this interest to continue and for your books to appreciate.
That’s the theory behind comic book investing anyways, although for some investors, owning a 1977 Star Wars #1 comic book that’s in pristine condition might just be for pure nostalgia. For others — looking to match interest with returns — comic book investing has grown over the last few years. According to a Comic Books Report, in 2023 the comic book market was valued at USD$15 billion and is expected to grow to USD$25 billion by 2030 at a CAGR of 7.3%.
According to Heritage Auctions, the most expensive comic book in the world was a mint-condition Action Comics #1 (first Superman appearance) which sold for USD$3.25 million in 2021, setting a new record.
If you want to invest in comic books, platforms like Rally Rd. let you buy shares of rare comic books starting at just $1 per share. This means you can be a part-owner of comics like a 1940 Batman #1, or a 1963 X-Men #1, without having to spend upwards of hundreds of thousands of dollars for the entire book.
5. Classic cars as an alternative investment
Classic cars are another popular collectible investment, and they’re actually an asset with utility unlike many collectibles. According to a Knight Frank Wealth Report, classic cars have returned an average of 8.8% per year over the past decade and the market is expected to grow at a CAGR of 6.1% by 2028.
Whether you drive your classic car around town on a sunny day or keep it locked up in a showroom is entirely up to you. Once again, platforms like Rally Rd. let you invest in shares of classic cars like a 1955 Porsche 365 Speedster or an Aston Martin V8 Vantage Oscar India. This is ideal if you’re investing a small amount of money or don’t want to spend enough to own a classic car outright.
However, according to a report from Hagerty, inflation is now outpacing classic car appreciation. Hagerty tracks data like auction volume for classic cars, and this news isn’t ideal if you’re a serious motorhead who was hoping to beat inflation by investing in cars. For those with their eye on the most expensive classic cars in the market, the most expensive classic car sale was a 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupe, which sold for USD$143 million in 2022.
6. Historical artefacts and antiques as alternative investments
Growing up, I watched a lot of the History Channel show called Pawn Stars. If you haven’t seen it before, it follows a famous Las Vegas family-run pawn shop and the antics that ensue each day. As the viewer, you get to watch people attempt to pawn or sell all sorts of collectibles, ranging from ancient coin collections to famous artwork.
The category of historical artefacts (the plural of artifact) is probably the most popular on the entire show; pretty much every episode features some sort of old, collectible antique. This includes artefacts from ancient Egypt to the Second World War, and everything in between.
As an investment, antiques and historical artefacts are too niche to really generalise. For example, the market for investing in ancient coins is probably very different from the market for antique firearms. But for any antique or historical artefact, spotting frauds and authenticating your potential investment is incredibly important.
7. Figurines and toys as alternative investmentments
In a 2022 study published in the Journal of Research in International Business and Finance, researchers argued that Lego actually outperforms large stocks, bonds and gold. The researchers analyzed secondary marketplace prices for Lego with a sample time period of 1987 to 2015 and found that the average return is about 11% annually. Believe it or not, this is a higher return than the return on stocks, bonds and gold. Some rare Lego sets, like the Ultimate Collector’s Millennium Falcon, have appreciated by 8,000% since their release.
Returns of Lego Indices | Real Clear Science
This makes some sense if you think about it. After all, Lego is an old company, so sets produced a decade or two ago might fetch much higher prices for nostalgic investors than the original MSRP. Other toys, including Funko Pops and action figures, can follow similar patterns.
Of course, this doesn’t mean you should liquidate your portfolio and go all-in on Lego as a collectible investment. However, if you’re very knowledgeable and passionate about a certain franchise or period of time, you might find toy investing brings both a sweet sense of nostalgia and the potential for returns.
8. Sneakers as an alternative investment
One very popular collectible investment are sneakers. Sneakerheads, which is the term for sneaker collectors and investors, generally buy rare, mint condition sneakers and then flip them for a profit or hold onto them with the hopes of appreciation.
What’s interesting about sneakers as a collectible investment is that there’s overlap between investors and everyday consumers who just want the latest pair of Jordans to walk around in. This is why some sneakerheads try to buy sneakers that are part of an exclusive drop, and then immediately flip them. This could involve buying limited edition Nikes, Jordans and other luxury sneaker brands and then quickly reselling them for a profit.
Overall, sneaker investing is a mix of a flipping side hustle and collectible investing. But if you want to dabble in collectibles that are potentially faster to liquidate, sneakers are a good option.
Why you should consider collectible investments
Before diving into some of the most popular collectible investments, be sure to understand the motive of the investor (or yourself). This is particularly important as some collectible investments can take along time to sell — and that means holding on to these assets for a longer-than-anticipated time.
Passion projects: For many investors, dabbling in collectibles begins as a passion project that’s mixed with the desire to invest. For example, someone who invests in rare Pokemon cards or baseball cards probably has an affinity to either one, or at least enjoys researching the space.
Portfolio diversification: Another reason to invest in collectibles is to diversify your portfolio. Collectibles are as far removed from securities like stocks, bonds and ETFs as you can get, and some investors view them as excellent stores of value or appreciating assets.
Inflation hedging: Some investors argue that investments like artwork, wine and gold and silver can serve as excellent inflation hedges. Historically, assets like gold have been, which is why more investors have been turning to alternatives as markets dip and the dollar loses value.
Beat the market: Collectible investments are often high-risk, high-reward. For example, if you invest in a classic car, it doesn’t usually generate income, and it’s difficult to know if it will appreciate. But if you enter at the right price and things go your way, there’s the potential to outperform the market, and by quite a margin.
Enjoyment factor: A piece of artwork can bring someone genuine pleasure. Same goes for an iconic action figurine, or an old comic book. In contrast, the stocks and ETFs in your online broker don’t have the same “enjoyment factor” as collectibles.
Pros and cons of investing in collectibles
Pros of collectibles as alternative investments
Collectible investments can help diversify your portfolio
Fractional investing has made it easier to get started without much capital
Some collectibles provide downside protection and can even be inflation hedges
Potential for outsized returns
Cons of collectibles as alternative investments
Collectible investments don’t usually produce fixed-income
Most collectible investments are illiquid
Fraudulent collectibles pose a serious risk to investors
The barrier to entry can be high for some collectibles
Generally, successful investing in collectibles requires a lot of knowledge and research, so it’s less passive than you might think
Do collectible investments belong in your portfolio?
When it comes to alternative investments like collectibles, there’s no cookie-cutter answer for deciding if they belong in your portfolio.
Many investors stick with a cap — limiting how much of their investment portfolio goes into collectible investing or alternative investments, in general. Typically, this cap is between 5% to 10% of your overall portfolio. This means if you have $100,000 to invest, no more than $10,000 should be allocated to collectibles or alternative investments.
— with files from Romana King
Sources
1. CNN: This Pokémon card just sold for $420,000 at auction (March 26, 2022)
2. TCG Player: The 20 Most Expensive Pokémon Cards Ever (July 1, 2024)
During his 2024 presidential campaign trail, then nominee Donald Trump was threatening to impose sweeping 25% tariffs on all goods imported from both Mexico and Canada. According to Trump, this was a necessary step in order to establish manufacturing and production independence within the USA. His aim was to make America a dynamic and self-sufficient powerhouse, once again.
After officially assuming the position of the 47th President of the United States, Trump has stuck to his guns and rolled out 25% tariffs on all goods coming in from Canada and Mexico — political action that will have broad economic ramifications on North American trade and policy.
Many Canadian politicians, business leaders and investing professionals have sounded the alarm of how these acerbic tariffs will put the Canadian economy into a precarious position — and also hurt the US economcy, given the interdependence of the two nations on both imports and exports.
With all this talk of tariffs and their potential drawbacks, it is important to understand what a tariff is, why this type of surtax is used, how tariffs can ultimately benefit or act as a detriment to Canada’s economy, and what it all means for the average Canadian consumer, investor or business owner.
What is a tariff?
Tariffs are taxes imposed on imported goods and services. A tariff is paid by the importing business — so if a Canadian business owner imports a good from the US, the Canadian business owner would have to pay a tariff imposed by the Canadian government on US goods.
The most common form of tariff is ad valorem (Latin for, “according to value”). These tariffs are levied as a fixed percentage of the value of imports and are often used to raise revenue for government or to protect domestic industries.
For example, if a country imposed a 10% ad valorem tariff on imported cars, a $15,000 automobile imported into a country will have an import duty of $1,500.
Another form of tariff is a specific tariff, which sees a fixed tax added to certain items imported into a country.
For example, a nation may impose a $25 tariff on imported sweaters, but levy a $300 tariff on smartphones.
Another type of tariff is a quota tariff. This is when a government imposes a tariff-rate quota, which limits the quantity of a product that can be imported at a lower price. For example, if a tariff-rate quota was imposed on imported sugar that surpasses 50,000 kilograms, then anyone importing sugar above this threshold would have to pay a higher tariff on the import.
Why are tariffs used?
Governments apply tariffs for several reasons, including protectionist tariffs that shield domestic producers from international competition. These are meant to help local industries thrive, while revenue-generating tariffs help bring money into government coffers.
Tariffs are also used as trade policy tools in disputes, allowing a country to retaliate against perceived unfair practices by another nation.
For example, on May 31, 2018, the US announced tariffs on imports of certain steel and aluminum products from Canada at the rates of 25% and 10%, respectively.
Deemed unjustified by the Canadian government, the nation levied retaliatory tariffs on imports of American steel and aluminum and would remain in place until trade-restrictive measures against Canadian steel and aluminum products were eliminated.
It didn’t stop at just aluminum and steel, in what can be viewed as an act of political defiance, Canada also imposed a 10% duty on yogurt imports, with most of this product coming from one plant in Wisconsin, which is also the home state of American politician Rand Paul.
Another example is when Donald Trump was first in office and announced a trade tariff on Canadian softwood lumber. The fallout of this tariff was higher construction costs for American builders and slower economic growth for Canadian lumber suppliers.
A tariff’s impact on Canadian consumers and investors
For consumers, tariffs can lead to higher prices on imported goods. If a tariff is imposed on a product coming from the USA, businesses may pass those added costs onto shoppers through price hikes.
Alternatively, companies may source from other countries or shift to domestic alternatives, which may not always be available at the same price or quality.
For investors, tariffs create uncertainty in markets. Companies that rely on cross-border trade — such as manufacturers, retailers and agricultural businesses — can see costs rise, potentially affecting profitability and stock performance.
On the other hand, Canadian companies in protected industries, such as dairy or steel, may benefit from reduced foreign competition.
Why are President Donald Trump’s current tariffs a threat?
What makes the threat of Trump’s latest round of tariffs appear more of a threat to the financial wellbeing of Canadian investors and consumers is the high likelihood that these tariffs will only increase economic risk and uncertainty in an already-volatile national economy.
“This will be a material exacerbation of Canada’s already challenging stagflation, which is a fusion of inflation and economic growth problems,” Stephen Johnston, a private equity manager and director of Omnigence, a Canadian private equity firm, told Money.ca.
“We can expect an increase in inflationary pressures, such as loss of purchasing power from Canadian dollar weakness, and recessionary pressures like increasing current account deficit and GDP contraction,” he said.
Read More: These 5 money moves can make or break your retirement plans — and you can complete each step within minutes. Here’s how
Bottom line
Tariffs are a significant factor in Canada-USA trade relations, affecting everything from grocery store prices to stock market trends. While they can protect domestic industries, they also have the potential to increase costs for consumers and complicate investment decisions.
With ongoing trade disputes and shifting economic policies, tariffs remain a key consideration for both policymakers and the public.
Sources
1. Government of Canada: Updated – Countermeasures in response to unjustified tariffs on Canadian steel and aluminum products
2. Associated Press: Canada is already examining tariffs on certain US items following Trump’s tariff threat, by Rob Gillies (Nov 27, 2024)
John Higgins and his wife Kathleen, long-time Delta, BC residents, knew that their children wouldn’t be able to afford their own homes, so they devised a clever solution.
They turned their single-family dwelling into four individual ones, alongside separate mortgages and titles, so that their children and elderly mother could each have their own place.
John Higgins, a professional architect, created the model after sketching plans to turn their single home lot into four separate residences.
Are these kinds of projects an antidote to the housing crisis in Canada? Should the government subsidize them for future affordable home options for Canadians? The Higgins seem to think so.
Creative solution for the housing crisis problem
Interest rates, lack of supply and massive immigration are just some of the reasons many Canadians have been priced out of the housing market, putting the dream of home ownership out of reach.
International YouTuber Kirsten Dirksen visited the Higgins’, whose story garnered hundreds of thousands of views on her channel. Their story, it seems, has resonated with many who may be in a similar situation.
“There’s so much demand for affordable home ownership. Not just rental, not just subsidized government, but home ownership on the ground. That’s what people want,” Kathleen Higgins told Dirsken.
The Higgins’ son, James, has a growing family and knew that the area’s high prices and low supply would have made owning a home impossible for him.
“There’s no way we would be able to have our own 3.5 walls to ourselves, our own piece of land, that wouldn’t have been possible,” he said.
“I love being able to live here still with the huge bonus of having my children’s grandparents next door."
As a result, the Higgins’ have been enjoying the benefits of intergenerational living. Their 94-year-old mother is close by for them to care for, and their grandchildren can pop in anytime to spend time with them.
Kathleen hopes her family’s experience will inspire others to think outside the box, but the question remains, is homeownership a pipedream for most?
In British Columbia and Ontario specifically, the high prices of homes are keeping many Canadians on the sidelines of the real estate market.
In response to the housing crisis in the country, the federal government introduced Canada’s Housing Plan in April 2024 in an effort to make homes more affordable for Canadians.
The plan includes building more homes, making it easier to rent or own a home while also building more affordable housing for students and seniors.
Other solutions include a proposal by Professor Erwin Sniedzins, founder of Senator Modular Homes, which includes building six million homes over the next decade.
Though sales for 2025-2026 are projected to surpass the past 10-year average, housing remains expensive for the average household.
As for the Higgins, Kathleen hopes the provincial and federal governments will create tax credits to help cover some of the costs for projects like theirs, so more families can follow in their footsteps and build multiple residences on large suburban lots.
Sources
1. YouTube: 4 generations, 4 homes, 1 lot: Vancouver family builds own private neighborhood (January 2025)
Credit scores — those three little numbers used to judge your borrowing history when you apply for credit — are essential if you want to get a big loan or a better interest rate.
For a long time, it was hard to get companies to share your score without paying.
If you haven’t checked your score in a while because you didn’t want to fork over $20, we have good news.
These days it’s easier than ever to obtain a free credit score, and you can get one in a few different ways.
How to get a free credit report and credit score in Canada
1. Use an online service
You can get a free credit score from a service like Borrowell within minutes — and you’ll receive free credit monitoring, too.
These online services provide immediate access to your credit score from at least one of the two major credit bureaus — TransUnion and Equifax Canada — giving you an accurate picture of your credit status. Just be wary of any provider that asks for your credit card information.
However, you will need to provide some personal information, and in some cases you may need to input your social insurance number. But once you’ve signed up, you’ll be able to check your credit score any time, free of charge.
2. Check with your bank
Some Canadian banks offer free credit scores and reports. If you bank with Scotiabank, RBC or CIBC, you’re in luck.
CIBC allows its customers to check their credit score for free using its mobile app, but you’ll only get a fresh look at your score every three months.
Meanwhile, you can get a credit score and report for free through the Scotiabank or RBC online portals, or on their respective apps. Both update your credit information once per month, giving you a more accurate picture.
If you’re thinking about switching banks, Scotiabank is a solid option right now — it’s offering a $400 welcome gift for their Ultimate and Preferred packages. It’s worth reading more about it, so check out our best Scotiabank chequing accounts page.
3. Get one when taking out a loan
If you’re one of the many Canadians rushing to apply for a mortgage as rates remain low for now, you’ll receive your credit score as part of the application process.
Furthermore, applying for a personal loan will also give you access to your credit score.
If your loan application is denied, the lender is required by law to show you your credit score. They’ll also let you know which of the major credit bureaus provided your credit report.
If you’re not satisfied with the result, you can get a copy of your credit report at no extra charge.
You can also get a free credit check from either credit bureau; you just have to request the report by mail. Unlike Equifax, you can go online and request a free TransUnion credit report once per month.
Just be aware that your credit report won’t include your credit score, even though it’s used to calculate the number.
Whether you’re requesting a credit report just to keep track of your finances, or you need it to move into a new apartment or get a loan, having access to it for free is a great tool.
Narinder Singh and his wife are relieved after their four-year nightmare tenant experience has finally ended.
The Brampton, Ontario man told Global News that his tenant, Deeqa Rafle, owes $55,177.85 in unpaid rent and utilities.
Singh claims that Rafle did not pay her rent consistently for the four years she lived at the Singh’s 32nd-floor Toronto condo.
“Squatters like her, they’re well aware of how to abuse the system, to what length they can abuse and they take full advantage of it,” Singh said in an interview.
How did Rafle get away with it?
“Harrowing experience”
Soon after Rafle moved into the luxury condo, she began complaining and asking for rent adjustments.
She then failed to pay rent consistently and also neglected to pay some utilities for which she was responsible.
The Ontario Landlord and Tenant Board (OLTB) ordered Rafle to pay Singh the maximum amount within the board’s jurisdiction, $35,000. However, this leaves an outstanding balance over over $55K.
During the legal process, Rafle told the OLTB that she was behind on the $2,600 monthly rent because of being hospitalized and unable to work for some time, and she hired a lawyer to appeal the board’s decision to evict her.
Landlord and Tenant Board member, Diane Wade, denied the appeal, and on November 25, Global News was there alongside Singh and his wife to watch Sheriff representatives carry out the eviction process.
“I’m at a loss for words, this has been a harrowing experience,” Singh told Global News.
Is being a landlord worth it?
Singh is far from the only landlord who has had issues with tenants.
Yvonne Folkes from Brampton, Ontario spoke to Global News in 2024 about her tenant who owed her $32,000. That tenant eventually moved out but the money was still outstanding at the time, according to Folkes.
So, is being a landlord worth it?
The Small Ownership Landlords of Ontario (SOLO) is a not-for-profit organization that helps landlords with investment properties. SOLO says the regulatory system is often a burden for “mom and pop” landlords.
“The non-payment of rent can financially destroy small landlords. We have seen some of our members lose their investment homes and even their primary residences to power of sale after failing to keep up with mortgage payments,” said Varun Sriskanda, a member of SOLO’s board of directors.
“On a regular basis I hear stories of small landlords that are continuing to fall victim to unscrupulous tenants,” he said.
Ontario Landlords Association (OLA) is a community association set up to help landlords understand the laws and to “create Landlord-Tenant relationships.”
With resources, including forums, credit and criminal check services, and an education centre with “tips and tricks,” the OLA is a place for residential landlords to share their knowledge.
The website also links to the Residential Tenancies Act, which outlines important rules including, in the case of the Singhs, what a landlord can do when a tenant fails to pay their rent.
Another resource for landlords and tenants alike is Tribunals Ontario, which is where they can resolve disputes through the Landlord and Tenant Board. The site has detailed information on filing a complaint, the hearing process and how to end tenancy disputes.
Singh, who runs a dry-cleaning business, doesn’t think he will ever get reimbursed the outstanding $55K. He and his wife saved “penny by penny” for the condo as an investment for their retirement.
Sriskanda told Global News, “The risks are too high, and small landlords are bearing the brunt of Ontario’s housing crisis.”
After weeks of speculation, the White House finally confirmed its intention to levy a 25% tariff on all Canadian goods imported into the USA on February 1.
This was in response to reporting from Reuters that revealed President Donald Trump would be delaying the tariffs until March 1, which the White House deemed false during a press conference on January 31.
One of the biggest news stories to come from Trump’s successful reelection bid as the 47th president of the United States was the announcement of a 25% tariff being placed on goods from both Canada and Mexico.
His reasoning for this legislative taxation is to incentivize production of goods within America, effectively making the country more self-sufficient and economically diverse. He has also written on Truth Social how these tariffs are a form of penalization for a supposed crisis of illegal border crossings with neighbouring nations — and can be levied if he notices positive improvement.
"We are thinking in terms of 25% on Mexico and Canada because they are allowing vast number of people — Canada is a very bad abuser also, vast numbers of people to come in and fentanyl to come in,” he revealed to reporters the night of his inauguration.
Additionally, during a recent press conference, the former Apprentice host admitted to wanting to use economic pressure to make Canada cede governing power to its southern neighbour, effectively pushing Canada into becoming what he calls the “51st state” of the United States.
Whatever his fluctuating reasoning may be, Trump’s proposed tariffs, alongside Canada’s current economic outlook, will have far-reaching implications for Canadians, especially those with an investment portfolio.
To assess the impact, we spoke with Stephen Johnston, a private equity manager and director of Omnigence, a Canadian private equity firm, about why Trump’s tariffs could accelerate Canada’s descent into grinding economic stagflation, what investment markets will be hit hardest and how to avoid catastrophic losses.
How will these tariffs impact Canadian investors?
According to Johnston, the impact of Trump’s tariffs will be felt by all Canadians, regardless of province of residence or size of portfolio.
“We can expect an increase in inflationary pressures, such as loss of purchasing power from Canadian dollar weakness, and recessionary pressures like increasing current account deficit and GDP contraction,” he said.
“This will be a material exacerbation of Canada’s already challenging stagflation, which is a fusion of inflation and economic growth problems.”
Johnston warns that these tariffs can reduce already low capital inflows to Canada, which, in turn, can reduce the nation’s already low investment in fixed capital. It’s a situation that puts Canadians perilously close to the dreaded state of stagflation.
What is stagflation?
Stagflation combines positive inflation with lower nominal gross domestic product (GDP) per capita growth, resulting in negative real GDP per capita, according to a report conducted by Omigence entitled Addressing Canada’s Stagflation Challenge: A Modest Proposal.
Here are some of the key factors influencing stagflation:
Economic Fundamentals:
Low GDP growth: Canada’s GDP growth is the lowest among OECD countries.
Poor labour productivity: Productivity levels are stagnant or declining.
Capital flight: Net capital outflows (ie: money leaving Canada) increases with average capital flight around ~$40 to $60 billion annually.
Structural deficits: Persistent fiscal and current account deficits.
Demographic Pressures:
Aging population: Rising dependency ratio increases entitlement spending and tax burdens.
Rapid immigration: High immigration rates add to the strain on housing and social systems.
Housing Market Issues:
Supply-demand imbalance: A shortage of more than three million housing units.
Over-reliance on housing investment: Crowds out productive capital formation — the process of investing money in goods and services that are meant to maintain or stimulate economic growth.
Energy Costs:
Increasing energy costs reduces competitiveness.
Savings and Investment:
Low household savings: Leads to chronic underinvestment in productive capital.
What investment sectors will be impacted the most by Trump’s tariffs?
The sectors most at risk from Trump’s tariffs include: the automotive industry, aviation, and heavy machinery manufacturing sectors. These sectors are the most exposed given Trump’s stated goal of onshoring production and manufacturing — a process of bringing these jobs back onto American soil
However, the widespread uncertainty of whether or not these tariffs will be enacted, coupled with his threat of using economic pressure, can create enough instability that all market sectors are impacted.
And while Canada has already hedged tariffs during Trump’s previous presidential tenure, this time things could get much worse.
“Proposed tariffs will be a very serious issue for the Canadian economy given its already very weak fundamentals versus Trump’s previous presidency,” explains Johnston.
What’s worse is that even if the tariffs are not introduced, the uncertainty of the current Canadian and American political landscapes means the market will react to the uncertainty anyway — meaning a reduction in investments throughout the Canadian economy.
“Even without an imposed tariff, the uncertainty will impact the investment market. Yes – transmission mechanism is likely to be CAD$ weakness and reduced capital inflows in the near term.”
Additionally, Johnston believes that there is nothing that the Canadian government can enact in the short term to soften the blow of tariffs without adding to the nation’s current fiscal deficit.
“Doing so will add to downward pressure on the Canadian dollar and inflationary pressures,” he said.
Are there any investment sectors that may be more resilient?
Tariffs or not, as an investor, it’s important to ask yourself whether your portfolio has the following three things:
Recession hedging factors
Inflation hedging factors
Low reliance on middle-class demand as a return driver
For Johnston, the answer to all three should be a resounding yes to generate alpha — or create excess returns — over the next decade.
This may also result in having to rethink portfolio allocations that have worked in the past as Canada continues to endure an unsavoury economic climate and the threat of tariffs.
“Traditional 60/40 portfolio allocations — 60% equities and 40% fixed income — that have worked well in the last two decades of below-trend inflation and above-trend GDP growth are unlikely to generate the same level of returns in a macro climate of above-trend inflation and below-trend GDP growth that Canada faces,” Johnston added.
However, despite a feeling of economic unease, there are certain sectors where Johnston sees opportunities.
His top pick: farmland, which hedges both inflation as a non-depreciating, real asset, as well as recessions, due to inelastic food demand.
Plus, the production of goods from farmland go beyond our trade reliance on the US.
“Canada exports to markets outside the US, such as China and the Middle East, with strong and growing incremental demand for agricultural products,” Johnston said.
Automotive maintenance is another sector Johnston believes has strong investment potential. Johnston chalks up the strength of this sector to a shrinking middle class and dwindling purchasing power.
“People drive their cars for longer before replacement – this reduces demand for new cars and increases demand for ongoing maintenance,” he said.
“The resulting growth is forecast to be well above overall Canadian GDP growth rates, and could outperform even in a low aggregate GDP growth climate.”
Environmental services are also immune to GDP growth since it is largely driven by regulation, which Johnston believes is worth pursuing for investors looking to create a durable portfolio that can withstand market volatility
Johnston’s final pick is the building products distribution sector. This is due, in part, to the lucrative residential housing shortfall of more than three million homes. This shortfall means that a refresh of the “Canadian infrastructure” will be required as well as “significant increase in domestic investment in fixed productive capital in order to grow the economy,” Johnston said.
Read More: These 5 money moves can make or break your retirement plans — and you can complete each step within minutes. Here’s how
Sources
1. CTV: Tariffs could hit Canada next week, Trump says (Jan 21, 2025)
Standing strong on his vision of Canada becoming the 51st of the USA, President Donald Trump recently asserted that Canadians would have much better healthcare if the country were to cede independence to its southern neighbour.
“I would love to see Canada be the 51st state. The Canadian citizens, if that happened, would get a very big tax cut — a tremendous tax cut — because they are very highly taxed,” he said.
“They’d have much better health coverage. I think the people of Canada would like it.”
While the two countries share the longest border in the world, there are various differences in the nations’ legislation and social programming, which is most evident in how citizens receive healthcare.
Below, we break down how Canada’s universalized healthcare system differs from America’s privatized offering, and how that can impact the financial health of those seeking medical attention.
Understanding Canada’s single payer healthcare system
Canada operates under a single-payer, publicly funded healthcare system called Medicare, ensuring that all citizens and permanent residents have access to medical services without direct charges at the point of care. Canada’s Medicare is often confused with the American Medicare system, but the two are very different.
Canada’s Medicare model emphasizes universal coverage and equal access to healthcare services and is supported by federal legislation in the form of the Canada Health Act.
How is universal healthcare paid for in Canada?
Canada’s universal healthcare system is primarily funded through taxation. Approximately 70% of total health expenditures are publicly financed, while the remaining 30% comes from private sources, including private insurance and out-of-pocket payments.
In 2023, Canada’s total health spending was projected to reach $344 billion, equating to about $8,740 per Canadian. This represents approximately 12.1% of the country’s gross domestic product (GDP) — the total value of all goods and services produced within a country’s borders over a specific period — positioning Canada as a leading spender among countries associated with the Organization for Economic Cooperation and Development (OECD).
The federal government contributes to healthcare funding through the Canada Health Transfer (CHT), which provides financial support to provinces and territories. In 2023, the CHT accounted for about 21.5% of public health spending. The remaining public funding is generated by provincial and territorial governments, which cover approximately 78% of healthcare costs.
Healthcare expenditures are distributed across various sectors, with hospitals receiving 26%, drugs 14%, and physicians 14% of total spending.
How does America’s healthcare system differ?
Unlike Canada’s single-payer system, where healthcare is primarily funded by the government through taxes, the US operates a multi-payer system dominated by private insurance companies.
However, the country does provide public forms of healthcare by way of:
Medicare: Covers seniors (65+) and some disabled individuals (covers about 65 million people).
Medicaid: A state-federal program for low-income Americans, covering around 87 million people.
VA (Veterans Affairs): Provides healthcare to eligible military veterans.
Unlike Canada’s single-payer system, where every resident is covered, the US system requires individuals to either obtain private insurance or qualify for government programs.
Has America enacted laws to expand healthcare coverage?
"Obamacare" is the nickname for the *Affordable Care Act *(ACA), a law passed in 2010 under President Barack Obama. It was designed to expand access to health insurance and make healthcare more affordable for Americans, especially those who were uninsured.
Before the ACA, many people struggled to get coverage because insurance companies could deny coverage for pre-existing conditions or charge very high premiums.
The ACA doesn’t create a Canadian-style universal healthcare system, but it reduces barriers to getting health insurance.
However, Trump has been adamant about repealing the ACA, telling the American population he has “concepts of a plan” during his debate with former Vice President Kamala Harris back in September of 2024.
Which government spends more on healthcare?
One of the biggest criticisms of the US system is its high cost.
According to the Centers for Medicare & Medicaid Services US health care spending grew 7.5% in 2023, reaching USD$4.9 trillion or USD$14,570 per person. As a share of the nation’s GDP, health spending accounted for 17.6% — the highest of any developed nation.
The US total health care spending sits in stark comparison to the CDN$344 billion spent by the Canadian government. To appreciate the difference, each Canadian pays CDN$8,740 (USD$6,026) per year. Compare this to the average annual cost for an American of CDN$21,131 (USD$14,570).
What do Canadian and American citizens spend on healthcare annually?
Health insurance in the US is mostly tied to employment. This mean that losing a job often results in losing health coverage. It’s a situation that can leave people in financial distress.
In 2023, 26 million people — or 8% of the American population — were uninsured, according to a report from the United States Census Bureau.
Additionally, according to the Commonwealth Fund 2024 Biennial Health Insurance Survey, 23 % of Americans are underinsured, meaning they had coverage for a full year that didn’t provide them with affordable access to healthcare.
While both Americans and Canadians can pay out of pocket for medical expenses, the USA has an average cost of USD$1,425 (or CDN$2,065) compared to CDN$1,189 (USD$820) per person in Canada.
Examples of when Canadians would have to pay out of pocket for healthcare include:
The service is not covered by public or private insurance such as virtual telemedicine appointments
They are not eligible for publicly funded coverage
They have a deductible or co-payment for things like prescription drugs
They are responsible for completing forms and medical records — like doctor’s notes
They are a non-resident of Canada
However, most provincial and territorial governments do offer and fund supplementary benefits for certain groups like low-income residents and seniors. This includes drugs prescribed outside hospitals, ambulance costs, as well as hearing, vision and dental care that are not covered under the Canada Health Act.
Canadian vs. American attitudes towards healthcare
A 2024 survey by The Economist/YouGov found that 54% of Americans have an unfavourable view of the US healthcare system, while only 36% view it favourably.
High expenses are a major issue, with many Americans struggling to afford care. A 2023 survey highlighted that cost was the most common barrier preventing people from accessing healthcare, at 61%.
Meanwhile, a poll from 2024 indicated that 91% of respondents blame health insurance companies for problems within the healthcare system, citing practices like claim denials and prior authorization requirements.
However, things are not much rosier north of the border, with a 2024 Ipsos poll revealing how 48% of Canadians are dissatisfied with provincial healthcare, while almost two-thirds (65%) of Canadians believe Canada should emulate the French or Swedish healthcare system that allow private entrepreneurs to manage publicly funded hospitals.
When it comes to fruitful, long-term investing, it pays to be cool as a cucumber. Markets can be volatile and test our resolve, and our brains can work against us by allowing cognitive biases to drive poor investment decisions. What does this mean and how can we overcome it?
As an entrepreneur, economist and former professor at Western University’s Ivey Business School with a Ph.D. in behavioural finance and neuroeconomics, Amos Nadler knows first-hand how bias can impact investment returns. Early in his career he chose to sell a top performing stock — Nvidia (NASDAQ:NVDA) — and missed out on tens-of-thousands in capital gains.
“I needed some war stories. I needed to talk about gains and losses,” he recently told CNBC Make it. “I need to put my own money to play and experience these things, and take it out of the lab, take it out of the textbooks.” Nadler’s lesson should be used by any investor tempted by bias or emotion.
The biggest reason for investor mistakes
When Nadler was starting his teaching career, he wanted to gain some hands-on investment experience to share with his students. As a result, one of his earliest investments was stock in technology company Nvidia (NASDAQ:NVDA)— about USD$800 to USD$1,000 worth of stock. He paid approximately USD$0.48 per share.
After holding them for a period of time, Nadler noticed that the shares had earned a decent profit so he decided to sell a large chunk of his holdings. This was before 2014 and before Nvidia (NASDAQ:NVDA) would become a household name.
Nadler’s goal was to talk about his experience. Turns out the sale gave Nadler lots to talk about with his students — since it was a big mistake.
According to his trading brokerage, Nadler paid about USD$0.48 per share, factoring in the stock splits during the company’s history. Today, Nvidia (NASDAQ:NVDA) is currently trading close to USD$118.58 a share. The firm’s value increased by more than USD$2 trillion just last year.
If Nadler had held onto the stock, his gain would have been over 28,000%. The value of his holdings would have been “enough to buy a nice house somewhere,” according to Nadler.
Here’s the thing: Nadler sold the stock because he succumbed to a cognitive bias known as loss aversion. A cognitive bias is a consistent, repeated error in the way we process information and perceive reality. Loss aversion is a common cognitive bias that leads us to perceive losses as more significant than gains.
In investing, loss aversion can cause us to fear losing the gains of a winning bet in our portfolio. It’s what happened to Nadler when he chose to sell his Nvidia (NASDAQ:NVDA) stock. As he tells it, “What was going through my head was, ‘Hey, I’m new with this. I just made a significant profit in a very short amount of time. I want to lock it in because I’m feeling afraid it may drop again.’”
How loss aversion is driving your investment decisions
You can judge your own loss aversion by considering whether you’d rather have $100 or flip a coin to either gain $200 for heads or $0 for tails. Most people would prefer the certain $100 and value the potential “loss” of this as greater than the potential but uncertain gain of $200. Still not sure, consider the same coin toss scenario but with a payout of $500 or $1,000. The lower the sum you’re willing to accept, rather than risk for the 50/50 chance of getting more, illustrates how risk averse you are (both in coin tosses and investing).
So, how does loss aversion impact your investment decisions?
If you choose to cash-in on your gains, end up being too conservative in your portfolio construction, try to time your entry into the market or instinctively move to cash to avoid volatile markets than you’re operting from a loss aversion bias — and this can all hurt your overall portfolio performance.
Avoiding this cognitive bias means carefully evaluating any stock sale, especially if you plan to move to cash, and trying your best to remove emotion (such as fear) from the decision. For instance, if you’re planning to sell a stock because it’s had a strong run, but fundamentals suggest it’s still a solid investment, you may want to step back and evaluate whether you’re making a rational decision or your actions are being driven by fear.
Engaging with a financial adviser could potentially help you manage that fear by providing an arms-length assessment of your decisions. An adviser could also help you set realistic investment goals so you’re not relying on “bets,” while also helping you diversify your holdings to spread your risk and make individual risks within the portfolio feel less intimidating.
Increasingly, there are also technological tools available to help you remove emotion from investment decision-making. For instance, Nadler founded Prof of Wall Street, which provides software products that help investors use behavioural science to manage biases and improve investment decision-making.
Fear can be a powerful force. Identifying it and enlisting the help of a financial adviser or technological tool could help to take the cognitive bias out of investment decision-making and, hopefully, result in better returns.
Sources
1. CNBC Make It: I sold Nvidia—then it went up over 28,000%, says behavioral finance prof: I could’ve bought ‘a nice house somewhere’, by Ryan Ermey (Dec 12, 2024)
