When stock markets are rattled, even by war, it usually pays for investors to be patient

NEW YORK (AP) — When stock markets are as manic as they've been recently, it’s natural to want to do something to protect your retirement savings. Historically, though, staying calm has usually been best.

The U.S. stock market has a track record of recovering from every steep drop it's taken. Whether it's a global financial crisis, a trade war or a military war, the S&P 500 has so far always recouped its losses to push toward more records. Of course, that can take years, but anyone who moved their 401(k) investments out of stocks risked missing out on the recovery and further gains.

Will that happen again? No one can say for sure, and some things are different this time around. But many professional investors and strategists are sticking with the advice they usually give: As long as it's money you don't need soon, which should never be in stocks in the first place, try to be patient and ride out the stock market's swings, tough as it is.

They gave the same counsel after President Donald Trump unveiled his global tariffs on “Liberation Day” last year, after inflation skyrocketed in 2021 and after COVID crashed the global economy in 2020. Stomaching these kinds of shocks is the price of admission to get the bigger returns that stocks can offer over the long term.

Saving money on vacation doesn’t have to mean sacrificing fun: Here’s how to do it

Whether jet-setting overseas or embarking on an excursion closer to home, travel experts say there are many ways to save money on a holiday, without sacrificing the fun of it all.

Not working in your desired field? Bridge jobs can still be beneficial to your career

A bridge job can be more than just a temporary gig while you wait for something better. It brings its own opportunities, and potentially surprise twists in your career.

Young job-seekers who aren’t landing opportunities in their field might find themselves picking up other work to fill a gap in employment — but this shouldn’t be seen as a step down, said Yulia Gracheva, career consultant at Flourish Career Consulting in Vancouver. In fact, it can give you a little boost.

“It releases some of the stress,” Gracheva said. “You feel more confident when you have a job that is paying your bills, and you’re still staying in a professional field. It may not be the job that you’re doing for the rest of your life, but having that confidence and looking for the next job — it will be a benefit for a job seeker.”

According to Gracheva, it’s ideal if the bridge job lands somewhat adjacent to your desired industry or role. If someone’s field is health care, for example, administrative roles in health care organizations can be beneficial. For young marketing professionals, a sales role is valuable. If you have a background in IT, you might aim for technical customer service, perhaps within software sales or support. 

If you changed jobs last year, here’s how it might affect your taxes

Months after the dust settles following a change in employment, people often forget that a new job can impact that year's tax return.

Drive gently and carry a loyalty card: ways to take the edge off high pump prices

CALGARY - It's easy to feel helpless watching that number outside your local gas station move ever higher.

The United States and Israel launched their war with Iran almost three weeks ago and the conflict has since spilled over into several other countries in the region, choked off a strategically vital oil tanker route and sent crude prices soaring, bringing the cost of fuel along for the ride.

U.S. benchmark crude prices edged close to US$120 per barrel earlier this month and have since fallen back to trade around US$100, which is almost 50 per cent higher than before the war. The Canadian average for a litre of gasoline on Thursday afternoon was about $1.70, according to price-tracking website Gasbuddy.com, around 40 cents higher than last month's average.

The upward price spiral may be due to geopolitical upheaval beyond almost anyone's control, but there are a number of ways motorists can take some of the edge off:

The advantage of buying a used luxury car rather than a new non-luxury car

For about the same price of a new mainstream car, you could get a used luxury car instead. But is buying a used luxury vehicle a smart choice?

‘Admin hangouts’ an antidote to procrastination while having fun with friends

For Chloe Ng, catching up on bills or researching a potential career change after an eight-hour work day felt like drudgery — often leading to procrastination instead.

With a growing to-do list, Ng began searching the internet for a solution to her persistent procrastination and landed on an article about what some are calling "admin nights" — getting together with a friend or group of friends where each person checks off tasks, such as paying bills, answering personal emails and booking appointments.

Jeri Bittorf, a financial wellness co-ordinator with Resolve Counselling Services Canada, says it can be a way to stay accountable and motivated while also learning from one another.

For example, what if someone hasn't filed their taxes in the last two or three years? They may not know how to proceed, Bittorf said. But someone from the group may have gone through the same situation and could offer help.

Don't leave cash on the table: experts give advice on how to maximize your tax return

If you aren't careful, it's easy to leave money on the table when filing your taxes.

Don’t inherit a crisis: How to manage a parent’s debt before they pass

For many families, the grief of losing a parent is compounded by a harsh and unexpected reality: a messy financial aftermath. 

Amidst mourning, loved ones may suddenly find themselves facing a daunting array of bills, taxes, and legal duties they are unprepared to handle. The topic of inherited debt, often misunderstood, can turn a difficult time into a financial crisis.

Many people assume that debt simply vanishes upon death, but the reality is different. Experts say the key to navigating this challenge lies not in searching for legal loopholes after the fact, but in proactive planning, clear communication, and a solid understanding of the system before it becomes necessary.

Before diving into estate planning, it’s crucial for families to grasp a fundamental principle: in Canada, you do not personally inherit a parent’s debt. 

Slower housing market mixed blessing for those looking to move up property ladder

OTTAWA - A cooling housing market has been good news for those looking to buy their first home, but for homeowners looking to move up the property ladder, the slowdown is more of a mixed blessing.

If you need to sell a home and buy another, the easing in the market adds complexity to your decision. 

Davelle Morrison, a broker at Bosley Real Estate Ltd. Brokerage, says it depends on your local market when deciding whether to sell your home first or find your next home and then put your current place up for sale. 

"It is important to recognize what kind of market that you're in, in terms of whether you buy first or sell first," she said.

Students protest cuts to OSAP grants; arrests made during rally at Queen’s Park

TORONTO - Hundreds of Ontario post-secondary students and supporters took to the lawn of the legislature Wednesday, with some tense moments and at least two arrests, to protest cuts to financial assistance grants.

Colleges and Universities Minister Nolan Quinn announced last month that the province is giving the post-secondary institutions a long-sought funding boost, while also lifting a seven-year tuition fee freeze and drastically scaling back Ontario Student Assistance Program grants in favour of loans.

Canadian Federation of Students' Ontario chairperson Cyrielle Ngeleka said it will leave many students with high debt loads during a cost-of-living crisis.

"Rent is skyrocketing, groceries are becoming unaffordable, and students are working more hours just to stay enrolled," she said. 

Long list of hobbies you want to try? How to explore them without breaking the bank

Baking from scratch, sewing your own clothes, learning woodworking or pottery, taking up mountain biking — plenty of Canadians have a bucket list of new hobbies they want to explore. 

But each of these pursuits can be expensive, especially when you don't know if you're going to like it enough to keep at it.

Sara McCullough, a financial planner and owner of WD Development, said it is important to determine how much money you can spare for exploring a new activity.

That comes with having a clear understanding of your overall finances — how much is already spent on housing, transportation, food and everyday living, she said.

From rent hikes to damages: Understanding the basics of rental agreements

Tenancy laws vary by province, and educational resources are easily accessible online for renters to learn about their rights and the basics of a typical rental agreement. If you’re moving out-of-province for school or a new job, you’ll need to look up local laws.