|  How to protect your savings from inflation For over a decade now, Canadian savers have been dogged by astonishingly low interest rates. But there was one saving grace: at least inflation was low as well. That is no longer the case. Canada’s annual rate of inflation hit 4.4 per cent in September, an 18-year high. At the same time, though, the Bank of Canada has yet to raise its trend-setting interest rates. Even the most competitive savings accounts offer interest rates in the neighbourhood of 1.5 per cent (if that), which doesn’t come close to making up for inflation. And don’t expect much more than that for locking your money into a guaranteed investment certificate (GIC). It seems savers are stuck between the rock of rising inflation and the hard place of still-low interest rates. But the picture isn’t actually quite as bleak as some people seem to think, say Ben Felix of PWL Capital and Bridget Casey of Money After Graduation. I asked what investors can do about inflation. Here’s what they said.  Is it time to invest in crypto? You’ve probably heard by now of the Netflix sensation Squid Game, a Korean show about a deadly tournament in which adults play children's games in the hopes of winning a big jackpot. But have you heard of the Squid Game … crypto? If you haven't, that's probably for the best. The new digital coin skyrocketed in value last week before its creators abandoned the project and made off with millions. The crypto community calls this an example of a "rug pull" scheme (which, honestly, is the old bait-and-switch). The point is, digital coins are still rife with scams. But does that mean you shouldn't invest in crypto at all? Advisers are still divided on this topic, but some say you could consider putting a small percentage of a diversified portfolio in crypto.  Workplace ghosting If you find “ghosting” — when someone vanishes without so much as a phone call or text — the ultimate manifestation of narcissistic spinelessness, I am with you on that. So I feel for employers right now who say they’re being ghosted by a growing number of job candidates and new hires in this crazy pandemic job market. But the practice, which seems prevalent for lower-paying service-sector jobs, is also seemingly sparking some soul-searching about the need to offer better pay and benefits to disenfranchised workers. (One restaurateur Global News spoke to this week called it a “great awakening.”) And let’s not forget: when the job market wasn’t quite so tight, many employers wouldn’t think twice about ghosting job candidates, who’d be left in the dark if they didn’t make it to, say, the second round of interviews. Here’s why common courtesy is a good idea on both sides of the hiring process. ___________________________ – THE QUESTION – “Which countries have the lowest withholding tax rate for foreign dividend income inside a TFSA? I know the U.S. has a withholding tax of 15 per cent.” — A Money123 reader “To begin, when you hold a foreign investment in a TFSA that pays a dividend, withholding tax would apply on that dividend. The issue is a TFSA is not taxable in Canada, meaning you're unable to recoup the withholding tax as a foreign tax credit. For instance, if you have a foreign investment in your TFSA that pays a dividend of $500 in many countries (including the US) the withholding tax will be 15 per cent. This means instead of having a $500 dividend deposited to the TFSA, $425 will be deposited and you'll be unable to recoup the additional $75 since no tax is payable on the TFSA in Canada. There are some countries where in specific situations the withholding tax on dividends would be as low as 5 per cent. This could apply to dividends from Australia, for example. But as is written on the Canada Revenue Agency website, "The lower rate applies where the beneficial owner of the dividend is a company that owns or controls a certain equity percentage of the payer company (e.g., a parent company)". As a result, when someone has an investment within their TFSA, this would likely not apply. All that to say, the lowest withholding tax likely to apply to you on foreign dividends deposited to a TFSA is 15 per cent.” — Jacqueline Power, assistant vice president, tax and estate planning | distribution, Mackenzie Investments ___________________________ Want your money question answered by an expert? Get in touch! | 
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