A combined $1.8 million in losses: Victims share their experience with GIC fraud — how to protect yourself from similar scams
In a time when financial insecurity is high and many are looking for ways to safeguard their money or increase their wealth, fraudsters are taking advantage of that vulnerability. Recently, three Canadians fell victim to a fraudulent scheme involving fake Guaranteed Investment Certificates (GICs), losing a combined $1.8 million. The scam, which has been gaining […]
Canadians experiencing ‘fraud fatigue’ after targeted scams
Have you ever nearly been convinced by an email, text or phone call that you needed to click a link or share private information? The deluge of messages, virtual or otherwise, that Canadians receive can sometimes make it easy to slip in our vigilance against fraud. A new RBC poll finds 98% of respondents have […]
6 reasons why a high-interest savings account can help you fight inflation
Knowing where to put your savings can be a struggle. Investing can lead to high returns, but make it harder to access your cash in a pinch. And on the other hand, while your standard savings account is always accessible, interest rates can be low. If you’re looking for low risk, but hoping for some […]
At 65 and set to retire with $357,000 in the bank: How much money can you comfortably spend each year?
John spent the last 30 years working. Unfortunately, he didn’t save. To be honest, John only started saving over the last 15 years. Despite some obstacles, John managed to put away approximately $357,000. Now he’s a year away from celebrating his 65th birthday and he wants to know: Can I retire? John isn’t alone. Across […]
Four travel cards compared: Which can get you to the beach faster?
My Toronto friends have their sights set on a Miami vacation, where the ocean breeze carries the promise of unforgettable memories. And as a Florida resident and a credit card expert, they asked me for help with finding the right new credit card to use to book the trip. Challenges like this are my bread […]
Best low-risk investments
One of the keys to building wealth is understanding the relationship between risk and reward. Canadians are always on the lookout for low-risk investments, but you must understand that free lunches do not exist. A risk-free investment (like a GIC) has a lower expected return than a high-risk investment (like an individual stock). As an […]
From $183K to $833K: How Canadians in their 50s bridge the retirement savings gap
Welcome to your 50s! This is your last decade of formal employment — and a time to finalize and fine-tune what retirement will look like. While this process can be exciting, it can also be daunting. That’s because it’s in your 50s when most Canadians start to play “catch-up” on retirement savings. Take, for instance, […]
I’m 68 and retiring in June after 19 years at my company — should I give many months of notice or just 4-to-6 weeks to avoid a last-minute ‘grunt work’ dump?
Mildred has worked as a manufacturing engineer at an auto parts company for the past 19 years. Over time, Mildred has become indispensable to her company. She possesses in-depth knowledge of several of the company’s manufacturing processes that few others have. She loves her job, her coworkers and her manager, but she’s worried about remaining […]
Trump’s tariffs, market chaos and the rise of inverse ETFs: How investors are hedging the storm
In today’s turbulent economic climate, marked by President Trump’s recent tariffs on Canada, Mexico and China, concerns about a potential recession are escalating. As markets react to these developments, investors explore strategies to protect their portfolios. One such strategy involves inverse ETFs. What are inverse ETFs? Inverse ETFs, also known as bear or short ETFs, […]
Financial MLMs: how to spot the difference between a scheme and an actual business
Between rising interest rates, a shaky stock market and the threat of a trade war with the U.S., it’s no surprise that financial uncertainty has instilled fear in people in recent years. And unfortunately, this financial uncertainty makes people more vulnerable to falling for get-rich-quick (or “quicker”) schemes in times of need. More specifically, multi-level […]
