They donate 20% of their income: A fisherman and nurse became multimillionaires through simple strategies — what Canadians can learn
A commercial fisherman and a registered nurse don’t exactly fit the stereotype of multimillionaires. Interestingly, one couple quietly built a net worth of more than US$6 million — all while donating 20% of their income and living modestly. Their story, shared with MarketWatch (1), is surprisingly simple: spend less than you earn, invest consistently and […]
The borderless audit: Why your U.S. birthplace is a lifelong tax shadow
For over 50 years, the border was little more than a line on a map for the thousands of Americans who moved north. It was a past life, a line to cross to visit, but no longer to live. They built lives, raised families and invested as Canadians, operating under the logical, but dangerous, assumption […]
Hitting your retirement number doesn’t mean you’re ready — watch for these 5 warning signs before you hand in your notice
Hitting your “magic” retirement number can feel like crossing a finish line. You’ve carefully made all the calculations, diligently put money away and watched your accounts grow so that you can imagine starting your mornings without an alarm. So, why would anyone keep working once the money is all there? Because retirement is about more […]
Is screen-scraping your bank account putting your money at risk? What Canadians need to know now
If you use a budgeting app, a debt tracker or a financial aggregator — or any other app or program that asks you to enter your online banking username and password — then you’ve used screen-scraping, and you may have unknowingly waived your fraud protection in the process. According to the Government of Canada, about […]
He got a US$250K windfall — but is US$70K in debt. Here’s how Dave Ramsey’s advice applies to Canadians in the same situation
What would you do if a sudden windfall landed in your lap… but you were also drowning in debt? That’s exactly the dilemma Dave Ramsey tackled on The Ramsey Show when a 21-year-old caller named Andrew rang in with a story the financial guru described as "the wildest thing I’ve ever heard (1)." Andrew had […]
At 61, she counted on a $15,000 bonus so she could retire — then a surprise bad performance review took it away. Now what?
What happens when the bonus you were counting on to shore up your retirement savings simply doesn’t arrive? That’s the financial and emotional dilemma Leticia is facing in this hypothetical scenario — a 61-year-old woman who has spent three decades building her career in administration at a large manufacturing plant. She had been counting on […]
Her husband secretly lost $350K in loans day trading. Here’s the advice The Ramsey Show gave her to protect herself immediately
When a caller to The Ramsey Show revealed her husband had secretly been taking out US$350K (C$488K) in loans and lost it all in day trading, hosts John Delony and Rachel Cruze didn’t mince words. This wasn’t just a financial problem, this was betrayal. Kate — a stay-at-home mother with a one-year-old and a baby […]
More than 500,000 Canadian stepfamilies face this estate planning blind spot — here’s how to protect your assets
It’s a question many remarried couples face: If one spouse passes away, what happens to the inheritance if there are children from a previous marriage? Imagine Tammy, 55, and her husband Bill, 60. They’re both healthy, but Tammy’s sister recently passed away and Bill’s father is in a care home, so estate planning is top […]
Bank charged $45 for a $5 shortfall in your bank account — that’s now illegal under Canada’s new NSF rules
For years, missing a payment could cost you an extra $50 in fees. Known as a non-sufficient-fund (NSF), these fees could be charged if a cheque bounced, your account was short a few dollars, or a pre-authorized debit was declined. In most cases, your bank would charge this NSF fee regardless of how small the […]
The Ramsey Show tells caller to pause her investment dream — when exiting an abusive relationship, cash is all that matters
How much money do you need before you can walk away from an abusive relationship? According to The Ramsey Show hosts, the answer is just as much as you need — and not a dollar more. “How should I be investing to build wealth, but also to leave an emotionally abusive relationship?” Sarah asked the […]