Category: Moneywise

Nvidia (NASDAQ: NVDA) has been one of the best-performing stocks of the last decade, benefiting from advancements in artificial intelligence (AI), cloud computing, and gaming. However, its high price and volatility make it a challenging stock for Canadian investors to buy.

One way to manage risk and build a long-term position in Nvidia (NASDAQ: NVDA) is through dollar-cost averaging (DCA ) — a strategy where investors buy a fixed dollar amount of stock at regular intervals instead of making a lump-sum purchase.

To use DCA effectively, Canadian investors need to learn which accounts to use (either TFSA, RRSP, or taxable), and which trading platforms to use, such as Wealthsimple, Questrade, TD Direct Investing, among others.

What is dollar-cost averaging (DCA)?

DCA is an investment strategy where you invest a fixed amount of money at regular intervals, regardless of the stock’s price. Over time, this smooths out the impact of market volatility and can reduce the risk of buying at a peak.

Example of DCA with Nvidia for a Canadian investor

• Instead of buying $12,000 worth of Nvidia (NASDAQ: NVDA) all at once, you decide to invest $1,000 per month for 12 months.
• Some months, Nvidia may be expensive; other months, it may be cheaper.
• This strategy reduces the impact of market swings and ensures you don’t buy at a short-term high.

Why DCA works well for Canadian investors buying Nvidia

1. Reduces Risk of Market Timing

• Nvidia (NASDAQ: NVDA) is highly volatile, and its price can swing 5 to 10% in a single day.
• By investing consistently, you avoid making emotional decisions based on short-term price movements.

2. Helps Manage Currency Risk for Canadians

• Nvidia (NASDAQ: NVDA) trades in USD, meaning Canadian investors face currency fluctuations when buying the stock.
• DCA helps average out currency exchange rates over time, reducing the risk of buying when the Canadian dollar is weak against the US dollar.

3. Easy to Automate with Canadian Brokerages

• Some platforms like Wealthsimple Trade and Questrade allow investors to set up recurring stock purchases, making DCA fully automated.
• Even if you use a brokerage that doesn’t offer automated DCA (like TD Direct Investing), you can still manually buy a fixed amount each month.

Which Canadian accounts are best for Nvidia DCA?

1. TFSA (Tax-Free Savings Account)
✅ Best for long-term growth because all gains are tax-free.
✅ No taxes on capital gains or dividends.
🚨 Downside: Nvidia doesn’t pay a dividend, so this is only useful for long-term capital gains.

2. RRSP (Registered Retirement Savings Plan)
✅ Contributions are tax-deductible, reducing taxable income.
✅ Great for Nvidia because there are no withholding taxes on US stocks inside an RRSP.
🚨 Downside: Withdrawals in retirement are taxed as income.

3. Taxable Account
✅ Good for flexibility (no withdrawal restrictions).
🚨 Downside: Capital gains are taxable at 50% in Canada.
🚨 Currency conversion fees may apply.

Which Canadian brokerages support DCA for Nvidia?

Best option for Canadian investors using DCA

• If you want zero commissions, Wealthsimple Trade is the easiest option, but you pay FX fees.
• If you want a USD account and more control, Questrade or Interactive Brokers is better for reducing currency conversion costs.

DCA vs. lump-sum investing: Which is better for Nvidia?

A common question is: “Should I just buy Nvidia all at once instead of using DCA?”

✅ Lump-sum investing is better if the market is in an uptrend, because historically, stocks tend to rise over time.

✅ DCA is better if you’re worried about short-term volatility and want to spread out your risk. Since Nvidia is highly volatile, DCA can be a smart way to manage risk while still building a position over time.

Final thoughts: Why DCA is a smart strategy for Canadians investing in Nvidia

Dollar-cost averaging is a great way for Canadian investors to buy Nvidia without worrying about short-term price swings or currency fluctuations. By investing consistently over time, you lower the risk of making poor timing decisions while benefiting from long-term market growth.

This article Dollar-cost averaging with Nvidia: A long-term strategy for Canadian investors

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Without a well-defined plan for spending in retirement, Canadians could be facing unexpected and unnecessary stress.

The National Institute on Ageing’s 2024 Ageing in Canada Survey reveals that only 34 % of Canadians aged 50 and over feel financially prepared to retire when they want to, with one in four of people in this age group having only $5,000 or less saved for their golden years.

Having the right retirement strategy for how and when you’ll spend your income is key to reducing the decisions you’ll need to make once you reach retirement age.

Unfortunately, without a plan, you risk joining the 53% of Canadians who are worried about making the wrong financial decisions, with another 45% admitting that they currently do not have a financial plan in place, according to a poll from CPP Investments.

Thankfully, there are steps you can take to give yourself and your family peace of mind.

Why it’s so important to have a plan

Having a plan really does pay off.

Research from T. Rowe Price found that individuals with a formal financial plan had two to four times more wealth when entering retirement compared to those without one. A financial advisor can be the key to setting up a foolproof plan for withdrawal and spending in retirement, whether that’s based off fixed retirement savings accounts like a TFSA or RRSP, or more fluid investment portfolios.

Even if you’re confident in the amount you’ve saved for your retirement, it is still critical to understand how those assets, investments and other streams of income will be able to fund your life after you retire. That’s why individuals with higher net worths should also consider consulting a professional to make the most of their nest egg and the rest of their assets and portfolio.

You can think of them as an accessible family office which will enable you to make the appropriate financial plan for your best retirement.

How to plan your retirement income

Another big concern among the Canadians is having enough money to make it through retirement, with 61% admitting they fear running out of money during their golden years due to longer life expectancy, rising cost of living and the increasing struggle to make ends meet. This question is best answered with the help of a financial advisor, and it will largely depend on the type of accounts that you have.

When you withdraw funds from a Registered Retirement Savings Plan (RRSP) your financial institution will withhold the tax, with being made with pre-tax income. The rates depend on your residency and the amount you choose to withdraw: 10% (5% in Quebec) on withdrawal amounts up to $5,000, 20% (10% in Quebec) on amounts of $5,000 and over, up to and including $15,000 and 30% (15% in Quebec) on amounts over $15,000.

Meanwhile, if you have money stowed away in a Tax-Free Savings Account (TFSA), where contributions are made with after-tax income, and withdrawals are entirely tax-free.

As a result, many financial experts recommend using an RRSP if you are in a higher tax bracket now and expect to be in a lower one during retirement while a TFSA may be more suitable for flexible savings.

Make sure your family is secure

Finally, a plan is important because it provides your loved ones with security, too.

For workers, an emergency fund doesn’t just safeguard against a job loss. It can also be the ticket to covering surprise expenses without going into debt. And being retired doesn’t make you immune from surprises.

Without proper planning, paying for long-term care could deplete your retirement fund. In many cases, the burden of paying for care often falls on family members – potentially straining their finances.

Current research projects that by 2031, long-term care patients are expected to almost double from 380,000 to 606,000, while those requiring at-home care will spike from 1.2 million to 1.8 million, per findings from Good Comfort.

Another option that can help your family in the event of your death is term life insurance. This is a type of life insurance that offers coverage for a predetermined period, known as the "term," that typically ranges from 10 to 30 years.

Term insurance is usually a less expensive and more flexible option. If the insured individual dies during this term, the policy pays a death benefit to the designated beneficiaries.

Sources

1. National Institue on Ageing: Perspectives on Growing Older in Canada: The 2024 NIA Ageing in Canada Survey (Jan 2025)

2. CPP Investments: Retirement matters to most Canadians, but the path is unclear, survey finds (Nov 6, 2023)

3. CPP Investments: Nearly 2 in 3 Canadians worry about retirement savings: survey (Oct 30, 2024)

4. Good Comfort: The Crisis of Elderly Care in Canada (Feb 26, 2025)

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

In a short but powerful street-style interview video, a YouTube creator with more than a million subscribers asked retirees, aged 70 and older, about their biggest regrets, life advice, and what they’ve learned as they aged.

Turns out their advice could be drilled down into six important tips that can help you find happiness, live life to the fullest and avoid financial pitfalls.

Tip #1. Spend with purpose — don’t wait too long

Waiting for retirement or the “perfect moment” to enjoy your money can backfire, according to the seniors YouTuber Sprouht interviewed.

For instance, one interviewee pointed out the uncertainty is at every state of life. He states: “The golden years are not that golden. People say, ‘you’re retired, you can do everything’ — but you never know what’s going to happen to you.”

Another response was to lean on the standard advice: “Don’t put off to tomorrow what you can do today.”

Money Insight

Enjoy your money while you’re healthy and able. Plan for the future — but not at the cost of your present.

Tip #2. Invest in experiences, not just stuff

Many of the responses focused on learning your priorities — what you value in life — and then encouraged people to spend time, energy and money on what matters.

One respondent said: “If I was 16 now, I’d have a bloody brilliant time knowing what I know now.” Another pointed out the ongoing dilemma about finding balance by stating: “More family time, less work time.”

Many retirees suggested a shift in our focus — concentrating on what adds value to life — travel, learning, personal growth — rather than just accumulating things. “Make sure you do what you enjoy doing. Don’t just get a job — have a passion.”

Money Insight

Allocate money toward meaningful experiences. The return-on-investment (ROI) is measured by memories, which often outweighs material purchases.

Tip #3. Be strategic, but not obsessive

Many elders wished they hadn’t stressed so much about money, careers, or comparing themselves to others.

As one stated: “I wish I’d laid less stress upon myself in those years between 35 and 45.”

Another echoed this sentiment, stating: “As you get older, you discard the nonsense and just focus on what’s important to you.”

Money Insight

Financial planning is important — but avoid over-striving or letting money anxiety dominate your life. Balance is key.

Tip #4. Align money with values

“Don’t be a follower — be an independent mind. Otherwise, you’ll become a robot.”

Turns out what we spend on should reflect our core values — not societal expectations or external pressures.

“Never do anything that might cause remorse — because remorse is something you carry forever.”

Money Insight

Spend and invest based on your personal values — not to impress others. Avoid “remorse spending.”

Tip #5. Prioritize people over profit

The most repeated regrets weren’t about missed investments — they were about time not spent with loved ones. “We all make mistakes. Sometimes you don’t realize what others are going through until you get older and experience it yourself.”

Another response highlighted how family and loved ones always topped the list of most important achievements. “My proudest accomplishment? Raising two children who are kind, successful, and don’t carry any hatred.”

Money Insight

Financial success is hollow if it costs your relationships. Budget time and money for the people who matter.

Tip 6. Cut the noise and focus

Distractions — especially digital ones — can lead to impulsive spending and shallow satisfaction.

As one respondent exclaimed, when asked about the impact of smartphones and technology: “It’s a monstrosity — everybody gets in an elevator and just looks at their phone.”

Money Insight

Mindless scrolling often leads to mindless spending. Stay present and intentional with your money choices.

Bottom line

Even though the video was just a six short minutes, YouTuber Sprouht was able to tease out a wealth of solid advice from his interviewees. Using their lived-experience, we can all aim to take more risks, value relationships over our bank balance, avoid holding grudges, drop the stress and live authentically.

Sources

1. Sprouht: 70 Year Olds Share Their BIGGEST Mistakes (Oct 20, 2024)

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Most consumers are familiar with the concept of inflation — a broad increase in prices as purchasing power declines. But stagflation is a concept you may not have heard of.

Economists coined the term to describe a period of slow economic growth, high levels of unemployment and stubbornly high prices. During stagflation (or stagnant inflation), prices remain elevated while the economy remains in a slump.

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And the recent fear is that tariff policies will fuel a period of stagflation in the near term that could lead to a recession.

In an analysis of a March Federal Reserve meeting, RSM chief economist Joe Brusuelas said policymakers “implied mild stagflation ahead in the near term as growth slows and inflation increases,” according to Reuters. Brusuelas also noted the “pervasive uncertainty around the size and magnitude of the trade shock."

Here’s why the fear may be a valid concern and what you may want to keep in mind when investing amid economic uncertainty.

Why stagflation fears are mounting

The last time the U.S. had to deal with a prolonged period of stagflation was during the 1970s, when a large increase in oil prices triggered a series of suboptimal decisions around monetary policy and ultimately fueled a recession early on in the following decade.

Now, the U.S. economy is showing signs of "stagflation-lite,” the title of Brusuelas’ recent analysis, as a growing number of economists are projecting a slowdown in growth and an uptick in prices as tariff policies come to life.

Of course, it’s worth noting that unemployment is fairly low. March’s jobless rate was only 4.2%. By contrast, during the mid-1970s, it peaked at 9%. For this reason, economists aren’t necessarily predicting a repeat of the stagflation that occurred in the 1970s, but rather, a more mild version.

"I don’t see any reason to think that we’re looking at a replay of the ’70s or anything like that," Federal Reserve Chair Jerome Powell said at a press conference after a recent central bank meeting, according to Reuters. "I wouldn’t say we’re in a situation that’s remotely comparable to that.”

But Americans should still brace for a period of economic uncertainty ahead — one that may lead to higher costs across the board and lessen buying power on the whole.

In February, 63% of Americans said inflation is a big problem for the country, according to Pew Research Center. And in a February CBS News and YouGov poll, 77% of Americans confirmed that their income wasn’t keeping up with inflation.

If prices continue to rise, it could push a lot of people into serious debt and have long-lasting impacts. So when it comes to investing for your future (if you can afford to do so), you’ll want to be extra careful with your approach.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

How to invest wisely in times of economic uncertainty

It’s hard to know what’s in store for the U.S. economy in the course of the next few months. But it’s important to financially prepare as best you can.

That means making sure you have a solid emergency fund with enough money to cover three to six months of essential bills as a starting point.

It’s also a good time to pay off high-interest debt if you can. The Fed is unlikely to lower interest rates anytime soon given current inflation levels and general economic uncertainty (though the central bank did recently signal that it sees two more cuts coming before the end of the year. This means your credit card balances in particular may be costing you a lot of money.

We don’t know what unemployment levels will look like for the remainder of the year. But if you’re able to shed high-interest debt, that’s one less expense to grapple with in the event of job loss.

Beyond that, it’s important to invest your money strategically. During periods of economic instability, the stock market can be very volatile. And it’s already been pretty rocky so far in 2025.

So you may want to consider two things.

First, make sure your risk profile aligns with your life plans. If you’re aiming to retire in 2026, now’s not the time to have 80% of your portfolio or more in the stock market. However, if you’re decades away from retirement, a more stock-heavy portfolio may be appropriate since you have many years to recover from near-term market turbulence.

Next, make sure your portfolio is well diversified. This is important whether you’re close to retirement or a long way off. Loading up on S&P 500 ETFs gives you exposure to the broad market, and it’s a good option for people who don’t have the time or skills to research stocks individually.

Given the potential for near-term economic shakeups, you may also want to add some recession-proof stocks to your portfolio. Certain health care and consumer staple stocks fit the bill, since these are things Americans may not be able to cut back on even if living costs rise or unemployment levels climb.

You can also look at inflation-resistant assets like real estate or Treasury Inflation-Protected Securities (TIPS). TIPS are Treasury bonds whose principal value rises as inflation increases. However, TIPS should be used as more of a long-term hedge against inflation rather than a short-term hedge.

Also be mindful of the fact that in the coming months, your portfolio value might swing. Try not to make rash decisions when that happens, like unloading assets at a loss. If you’re invested appropriately for your age, you should be able to ride out whatever storm is coming until the market eventually recovers.

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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Like many people his age, Ethan from South Carolina is waiting for the perfect moment to hop onto the property ladder.

In an email to The Ramsey Show, the 28-year-old said he and his wife earn more than $200,000 a year and have roughly $180,000 in savings and investments. They’re just waiting for home prices to slide lower before snapping up their dream home.

But according to finance personality Dave Ramsey, that’s a big mistake.

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“Interest rates are going to do what they’re going to do,” he told Ethan during a recent episode. “House prices are not coming down … there’s no fix on the horizon for that."

Here’s why the veteran property investor is so confident about the resilience of the property market in 2025 and beyond.

‘Seventh-grade economics’

In theory, home prices are correlated to interest rates. When the cost of borrowing money for a mortgage rises, housing affordability craters, dragging demand lower.

However, Ramsey highlights the fact that interest rates have been elevated for a while but that so far, the impact on housing has been minimal.

As of late April, the average 30-year mortgage rate is 6.81%, according to the Federal Reserve — significantly higher than the 3% rate during much of 2021.

However, the median sales price of a U.S. home has declined a mere 5.8% from its peak at the end of 2022, according to the Fed.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

Put simply, home prices have softened, but not nearly as much as expected. To understand why, Ramsey points to another factor: supply.

“There’s a serious shortage of housing,” he says, which is effectively putting a floor on the price of a home.

According to him, this supply-demand imbalance is “seventh-grade economics.”

The formation of new households has exceeded the rate of home-building for an extended period. That, according to calculations by the Brooking Institute, has created a shortage of approximately 4.9 million housing units as of 2023.

With that in mind, Ramsey and his co-host Jade Warshaw encourage Ethan to pull the trigger right away.

“I would say the right time to buy a house is when you can afford it,” Warshaw says.

Ramsey, meanwhile, believes Ethan could miss out on home price appreciation in the years ahead if he waits too long.

“The next round of real estate prospering these houses are going to shoot up again,” he says.

However, this advice overlooks another important characteristic of the housing market — that housing is local.

Housing is local

The national housing market is highly fragmented and influenced by several local factors. The market for condominiums in New York, for example, is strikingly different from the market for cottages in rural Nebraska.

Over the past year, San Francisco, Austin, and Miami have seen home prices decline between 7.7% to 10.9%, according to Realtor.com.

Factors such as over-construction in Texas, insurance costs in Florida and migration out of California could be some of the reasons driving these changes.

National statistics do not necessarily reflect these granular details for each market.

With that in mind, potential homebuyers should speak to local property experts and experienced investors to understand their local market before making what could potentially be one of the largest purchases of their life.

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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links.

Warren Buffett is one of the most renowned investors of our time. So, it’s easy to forget that he was once a beginner too.

Buffett claims he bought his first stock at age 11, then spent eight years focusing on stock price movements instead of studying the underlying companies.

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“I had the whole wrong idea,” Buffett said in a 2022 interview with journalist Charlie Rose. “I thought the important thing was to predict what a stock would do and predict the stock market.” But when Buffett was 19 or 20 years old, he read a book that would change his perspective forever: “The Intelligent Investor” by Benjamin Graham.

Instead of charting stocks or "stock picking," Graham advocated for the valuation of underlying companies. He theorized that stock prices eventually follow a company’s financial performance. This simple philosophy shifted Buffett’s view on investing forever.

“I realized that I was doing it exactly the wrong way,” Buffett said. “I rejiggered my mind when I read the book.”

This philosophy has worked for Buffett, but not everyone has time to read 500 pages of financial analysis a day. Here are three ways to level up your investing depending on how much time you have.

Do your research

Buffett once famously said that he reads 500 pages a day. While this might not be what every investor needs to do, you should think about spending more time with news and analysis from reputable sources.

Buffett’s approach favors analysis based on understanding the companies you’re investing in, their industry, and the forces impacting their potential for growth. However, technical analysis — focusing on the numbers — also has a place for the modern investor.

When you learn to balance both data and investment philosophy, you’ll be well on your way to becoming a savvy market player. In short: where you get your stock market info from matters.

With Moby, you can get advice from expert former hedge fund analysts, with a 30-day money-back guarantee. In four years, across almost 400 stock picks, Moby’s recommendations have beaten the S&P 500 by almost 12% on average.

Moby’s team spends hundreds of hours sifting through financial news and data to provide you with stock and crypto reports delivered straight to you. Their research keeps you up-to-the-minute on market shifts and can help you reduce the guesswork behind choosing stocks and ETFs.

Plus, their reports are easy to understand for beginners, so you can become a smarter investor in just five minutes.

Trust the experts

Aside from doing your own research, it can pay to invest in professional advice.

Even Buffett surrounded himself with knowledgeable advisors at Berkshire Hathaway. Everyone has areas of expertise, but no one knows everything.

With this in mind, an expert advisor can help you raise your game. As Buffett once said, “Pick out associates whose behavior is better than yours and you’ll drift in that direction.”

“In looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if they don’t have the first, the other two will kill you.”

As such, finding a financial advisor who puts your interests first is critical. If you’re looking for some guidance, Advisor.com can help you find a trustworthy wealth expert to make the most of your money.

Advisor.com is an online platform that connects you to a vetted financial advisor for free. Just answer a few quick questions about yourself and your finances and the platform will match you in minutes.

From here, you can view the advisor’s profile, read past client reviews and schedule an initial consultation with no obligation to hire.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

A ‘set it and forget it’ approach

While keen investors may be willing to spend the time to learn the markets, many investors can be better off with a passive approach.

"In my view, for most people, the best thing to do is own the S&P 500 index fund,” Buffett once said.

"The trick is not to pick the right company. The trick is to essentially buy all the big companies through the S&P 500 and to do it consistently and to do it in a very, very low-cost way.”

A passive approach might not produce spectacular wins, but it can be a low-risk option for the investor who is simply looking to build a reliable nest egg for retirement.

If you’re totally new to investing and are looking for a simple way to get into the market you may not realize you can get started for pennies on the dollar.

One option is Acorns, an automated saving platform that can smooth out your investment process.

How it works is simple: Sign up and link your bank account then Acorns will automatically round up each of your purchases to the nearest dollar, depositing the difference in a smart investment portfolio.

That morning coffee for $4.50? With Acorns you’ve just squirreled away 50 cents for your portfolio. Over a year these contributions can add up, especially if combined with more conscious investing.

Plus, if you sign up today, you can get a $20 bonus.

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• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in great wealth. How to get in now

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

There’s an old adage that goes something like, “What’s the difference between tax reduction and tax evasion? About five years in jail.”

As a Canadian, you have the right to reduce the amount of income tax you pay, but what you can’t do is evade taxes. Even rich folks with accounts in Panama can get caught in the end.

Here are a six ways to lower your tax bill with a clear conscience.

1. Start with the obvious: Tax-preferred accounts

Canada has two national programs that help you save on taxes in the short- and long-term. Both are highly effective if you strategically use these accounts to save money and invest in your future.

Registered retirement savings plans (RRSPs)

The federal government will let you shelter up to 18% of your earned income in an RRSP, where it can grow tax-free until you take it out of the plan, typically when you retire.

In the short term, every dollar that you contribute to your RRSP gets deducted from the amount of income you declare. This could result in a big, fat income tax return that you can spend any way you please.

Learn all about RRSPs and how to get started using this tax-efficient savings tool, using the Money.ca guide.

Tax-free savings accounts (TFSAs)

TFSAs won’t save you any money on this year’s tax return but they can save significant money by helping reduce your taxable income, over time.

You can put money into a TFSA, invest it and keep all the profit if your investments go up. Anyone over the age of 18 can open one of these tax-free account and start contributing money up to the annual limit set by the government.

To learn how to get started, check out the Money.ca guide on TFSA strategies.

2. Dig for deductions

The Canada Revenue Agency (CRA) is continually adding new deductions to the tax code. For example, new measures were implemented during the COVID-19 pandemic that allowed you claim home office supplies as a tax deduction if you were asked to work from home.

While the COVID-19 work from home deduction no longer applies, there are plenty of other deductions and credits to review and consider — or use tax software that can point out tax credits and deductions that help you save money.

Fun fact: You could earn $400 an hour: If you spent two hours researching tax deductions and you saved just $800 on next year’s tax bill, then the time spent finding these savings works out to $400 an hour — about how much a lawyer earns.

Switch to TurboTax® Canada and file your taxes for only $60. Terms and conditions apply

3. Make taxes a family affair

Married couples and parents with children often qualify for tax deductions that aren’t available to single people with no kids. If you aren’t confident in your ability to identify all the savings you deserve, have a tax professional prepare your return. If they find even one additional deduction, it’s well worth the fee.

4. Talk to human resources

If you work for a company that still has a human resources department and offers employee benefits, you’re lucky. Book some time with your human resources (HR) administrator to review all the programs and incentives you can sign up for in order to reduce your taxes today or down the road when you retire. Taking advantage of things like group savings and insurance plans is almost always in your best interest.

5. Work your side hustle

If you’re self-employed or running a side hustle, you could be able to write off your work-related expenses. As long as you earn money for what you do, any reasonable business-related expense can be claimed as a deduction. Keep in mind that a “tax deduction” is not a refund. You simply get to reduce the income you declare, so you get taxed on a smaller amount.

6. Start saving today, before the April 30 tax deadline

The deadline to file your income tax return is April 30. That gives you plenty of time to start exploring ways to lower your tax bill. To help, here are eight tax software programs that can help you file by the deadline and maximize your tax deductions and savings.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

If your grocery bill feels like it’s been getting out of hand lately, you’re certainly not alone — especially if you live in Nevada.

A recent LendingTree analysis of USDA and U.S. Census data shows that Nevada households now spend an average of $10,390 annually on groceries. That’s more than $2,000 more than the national average of $8,167, and food inflation isn’t helping.

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Nevada spends the fourth-highest amount on groceries, behind only Utah, Alaska and Hawaii.

Nevada and Utah also spend the second highest share of household income on groceries (10.1%), behind only Idaho (10.4%).

Kitchen staples like mini sweet peppers have sky-rocketed in price by as much as 99% in some instances, while the price of avocados rose by up to 75%, forcing families to rethink their entire approach to grocery shopping.

Here’s how Nevada families are adapting.

Shoppers feeling the sting of higher prices

According to the analysis, grocery bills are a whopping 27% higher in Nevada than the national average, so shoppers are second-guessing what they pick up at the store.

"There’s a lot of stuff that I don’t buy anymore because I won’t pay for it. Like chips, I don’t buy chips anymore," Anna Marie Hyatt, a Las Vegas resident told KTNV ABC 13 News. "I am not going to spend 6 bucks on a bag of chips. "

While shopping at her local Smith’s near Desert Inn and Decatur, Hyatt told ABC 13 News that she and her husband hit the grocery store weekly, but lately, each trip feels more painful. Like many Nevadans, she’s watching prices climb higher with every checkout total.

"Up, up, up, it’s about all I could say, it’s up," said Hyatt. "Whoever has the cheapest price, that’s where I am going to buy it," she said.

According to LendingTree’s analysis, organic groceries continue to carry a hefty premium, with half of them costing shoppers more than 50% more on average compared to their conventional counterparts.

In some cases, such as with iceberg lettuce and Brussels sprouts, shoppers are paying more than double the average price.

Roughly one in four organic items reviewed in the study cost at least 75% more. But the overall price increases of organic versus conventional groceries were similar year over year, at 2.4% and 2.5%, respectively.

When you consider that American households are spending an average of 7.4% of their household income on groceries, according to LendingTree, every dollar counts.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

Nevadans tighten grocery budgets, but at what cost?

With high food prices, families are stretching every dollar they can.

To cut costs, many households are buying in bulk, trading brand names for generics and planning meals with military-like precision.

Store apps and loyalty programs are also getting a workout as shoppers hunt for deals. And with more of the paycheck going to groceries, non-essentials like dining out, streaming subscriptions and even weekend getaways are on the chopping block.

But for some, trimming the budget isn’t enough. Some short-term survival tactics may be keeping fridges full, but they’re also setting the stage for serious financial consequences down the line.

According to a study by Urban Institute, about six in 10 adult shoppers are swiping credit cards at the grocery store just to get through the week — and 20% aren’t paying off the full balance.

That temporary relief can come at a steep price if balances begin to snowball. The average credit card APR is now hovering around 21.37%, making any unpaid groceries a costly burden in the months to come.

Emergency funds are also being drained. What used to be a safety net for surprise car repairs or medical bills is now being used for milk, eggs and gas. Once that cushion is gone, families are just one unexpected expense away from what could be a major financial blow.

The squeeze could be forcing some folks to hit pause on major life goals. Homeownership, for instance, is getting further out of reach, as more than eight in 10 Nevada households wouldn’t be able to afford the median home price in the current market, according to Nevada Housing Now.

However, emergency rental aid is available through local and state initiatives and nonprofits like Three Square and Catholic Charities of Southern Nevada are expanding food assistance programs in the state. The nations SNAP program could also help more Americans put food on the table if policymakers broaden eligibility for benefits.

The challenge for Nevadans, and other shoppers struggling with grocery prices, is to survive today’s high prices without sacrificing tomorrow’s financial health.

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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

If you’ve managed to earn a substantial sum investing in the stock market, congratulations, you could be well on your way to building a sizable nest egg for your retirement.

One common piece of advice people receive in their early years of investing is to put their money in a fund that tracks a market index like the S&P 500. Even Warren Buffett recommends this approach for everyday investor. Investing in an S&P 500 index fund gives you exposure to the top-performing companies in the Canada across a broad range of sectors. Alternatively, the TSX offers its own version of the S&P 500, known as the S&P/TSX Composite Index, which tracks around 250 of Canada’s biggest public companies.

As these companies grow — or, at times, falter — so does your investment.

But let’s say, despite having great success, you feel ready to move on from investing in the S&P 500. Your investment has grown to $300,000, and you want to use some of it to make a few riskier bets on individual stocks. This could potentially generate wealth at a much faster pace, but you could also lose it just as quickly.

Here’s what you should know about investing in individual stocks. And it goes without saying: Nothing in the stock market is guaranteed.

The pros and cons of stock picking

In contrast to passively investing in index funds, stock picking is much more active, and involves knowing the market well. You need both the time to dedicate to reading market reports daily and a healthy appetite for risk, knowing that not all your picks can be successful.

Investing in individual stocks is a choice that is only for those who want to take on investing as a serious hobby or maybe even as a second career. To become a great investor, you have to be willing to first invest considerable time to understand the market, the history of growth and decline across a number of industries, and to stay on top of reports from reputable trading firms.

However, if you’re eager to become a unicorn stock hunter, there’s the potential for greater returns than an S&P 500 index fund can offer. Experts advise against trying to time the market, since day-to-day outcomes tend to be unpredictable, but there’s room to spot an opportunity for buying low to potentially sell high. Moreover, individual stock buyers can get access to dividend-paying stocks, which you can either use to supplement income or reinvest for your retirement fund.

How to invest in individual stocks

Stock pickers use both fundamental analysis and technical analysis to make decisions and predictions about stock performance.

For fundamental analysis, annual reports, quarterly conference calls and other third-party reporting on companies help investors to understand not only growth and profitability, but also public sentiment and the potential for new products or lines of business that could increase a company’s value. This type of analysis also involves studying competitors in the market to understand a company’s place in a sector compared to similar players.

For technical analysis, you look for trends and patterns in the stock price itself. This involves historical trading data, including a stock’s price and trading volume, and the ability to see patterns that others may miss. You might also look at the trends from competitor stocks to compare growth and decline in the industry as a whole.

When you’re just starting out, look for reports from reputable sources to help you get a handle on both these types of data. At this early stage, paying more for the right tools can be helpful as you learn.

Once you feel confident that you’ve done your research, you will want to decide on the right time to buy and how long to hold a stock in your portfolio. There’s no one-size-fits-all-answer here. Ask yourself questions about your time horizon, personal financial goals and risk tolerance. Remember that holding onto a company that’s reputable today doesn’t mean the stock price will rise forever.

It’s always good to remind yourself as an investor to keep your emotions in check. There will be times, such as right now, where the market is extremely volatile and can seemingly change at a moment’s notice. It may be challenging, but focusing on your long-term strategy can be helpful.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.