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Oil Breaks $100 a Barrel, Tech Stocks Tumble: Markets Today

  Friday, July 24, 2026 Global markets are ending the week on shaky footing. Brent crude briefly broke above $100 a barrel for the first time in months as Middle East tensions escalate, while a wave of disappointing Big Tech earnings triggered the steepest one-day tech selloff in weeks. The TSX pulled back from Wednesday's record high, Wall Street's major indexes all closed lower, and Asian markets are extending the losses into Friday trading. The bottom line: Oil is up almost 38% this month on Middle East supply fears, and that's starting to show up everywhere — from gas pumps to bond yields to central bank odds. At the same time, investors are questioning whether the AI spending boom can keep justifying its price tag. That combination hit stocks hard on Thursday. 🇨🇦 TSX: Pulling Back From Record Highs The S&P/TSX Composite fell 0.82% Thursday to close at 35,193 , a day after touching a fresh all-time high of 35,485. The index opened sharply lower and fell as much...
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Maximizing Retirement Savings: The RRSP to RRIF Transition

 


As retirement approaches, a key financial decision for Canadians is whether to maximize contributions to a Registered Retirement Savings Plan (RRSP) before converting it into a Registered Retirement Income Fund (RRIF). Here are the essential considerations:

  • Timing and Tax Benefits: Contributing to your RRSP can provide immediate tax deductions and allow your investments to grow tax-deferred. However, it’s crucial to evaluate whether these tax benefits align with your retirement timeline and income needs.

  • Conversion Deadline: You must convert your RRSP to a RRIF by December 31 of the year you turn 71. This transition is mandatory and marks the shift from accumulating savings to withdrawing income.

  • Withdrawal Strategies: RRIFs require minimum annual withdrawals, which increase with age. Deciding whether to withdraw only the minimum or more depends on your income needs and tax implications.

  • Long-term Financial Planning: Consider your overall retirement strategy, including other income sources like pensions and government benefits. A financial advisor can help tailor your RRSP contributions and RRIF withdrawals to your unique situation.

In conclusion, maximizing your RRSP before conversion can be advantageous, but it should be part of a broader retirement planning process that takes into account your financial goals and tax situation.

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