Category: Moneywise

According to CPP Investments61% of Canadians are worried about running out of money in retirement., and one of the top ways they can address this concern is increasing retirement savings.

Hidden wealth could be sitting right under your nose. From unused items in your garage to forgotten investments and valuable heirlooms, there are plenty of ways to turn overlooked assets into retirement savings.

The best part? You could unlock tens of thousands for your retirement fund.

Let’s take a look at the three valuable items you may consider selling to fund your retirement.

That second (or third) vehicle you rarely drive

If you’re no longer commuting or your children have moved out, you likely have an unused car. You may also have an RV, boat or motorcycle you splurged on and don’t use that much now. These are some of the dream purchases retirees may regret buying.

You can sell any unused vehicle to reduce insurance, maintenance and storage costs.

In 2025, the average cost of a used car in Canada is $36,342, according to Car Rookie. The good news is that there is a low supply of used cars in Canada right now and supply will likely remain thin for years.

Your life insurance policy

Many people are unaware that life insurance can be sold through a transaction known as “life settlement.”

In a life settlement, you sell your policy to a third-party investor for more than its cash surrender value but less than the death benefit. The payout varies based on your age, health, type of policy, the amount of the death benefit and premiums necessary.

According to Canadian Life Settlements, seniors will receive anywhere from 10-50% of the face value or death benefit when selling their life insurance policy.

If your survivors are grown and no longer rely on you financially, you can consider letting that policy go. When making this decision, you should consider factors like taxes, your ability to receive governmental assistance and personal information being accessed by the buyers.

Be sure to do your due diligence about who you’re working with and shop around for a fair price.

Collectibles and sought-after vintage wearables

Your heirloom jewelry could be your golden ticket to a beachside retirement. You might be surprised by the value of items like grandma’s vintage brooch, dad’s coin collectio, or the original artwork that has been hanging in your living room since the ’80s. It’s worth noting that the value of gold and silver have also surged amid recession fears.

Vintage jewelry — especially designer or gemstone pieces — can sell for thousands at auctions or resales. Old pocket and wrist watches can also fetch you thousands of dollars depending on the manufacturer and how many jewels are on it. Artwork from lesser-known or regional artists might also surprise you.

Make your retirement count

Your golden years should be stress-free and fulfilling.

While it might be challenging to part with valuable keepsakes, remember that you’re trading them for freedom, security and peace of mind.

Take a fresh look around. Items collecting dust could be your ticket to a more comfortable and confident retirement.

Sources

1. CPP Investments: Nearly 2 in 3 Canadians worry about retirement savings: survey (Oct 30, 2024)

2. Car Rookie: Used Car Prices Canada: 2025 market trends (March 30, 2025)

3. Canadian Life Settlements: Determining Your Life Settlement’s Value in Canada (August 5, 2023)

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Whether you’re filing your taxes for the first time or looking for a better, cheaper way to do it, this short guide will show you how easy it is to file your taxes online in Canada.

In truth, you can file your tax return online or by mail. But the Canada Revenue Agency (CRA) — Canada’s tax law administrator — considers filing online the fastest and easiest way to do your taxes. Quite often you can do it for free.

The deadline to file your personal return for the 2024 tax year is April 30, 2025. So let’s dive into the why’s and how’s behind five simple steps that will make filing your tax online easier than you think.

Can I file taxes online by myself in Canada?

The short answer is usually yes. Tax preparation software makes it easy to file your taxes by yourself — even if you’ve never done it before. Not only will you get free built-in guidance, but many programs offer paid expert help along the way if you need it.

By asking simple questions about things like your income and deductible expenses, tax software guides you through how to fill out your tax return step-by-step and how to file your taxes online when you’re done.

In most cases, online tax software will even send your completed return to the CRA when you’re done.

Why it’s worth knowing how to do taxes online in Canada

In their tax FAQs, the CRA highlights five great reasons for filing your personal tax return online:

1. It only takes two weeks to process most digital tax submissions (versus up to eight weeks for paper returns)
2. You could get your tax refund faster (in as little as eight business days with direct deposit)
3. You don’t have to mail anything (your return gets submitted electronically)
4. You don’t have to send in your receipts (though you do have to keep them for six years after you file)
5. You can use the CRA’s ReFILE service to change your return after filing (good to know if you make a mistake or leave something out)

Another great reason to do your taxes online is that you can probably do it for free (more about this in a minute).

Can I file a tax return by myself if I’m self-employed?

If you’re self-employed, run a business or work in the gig economy — or if you have rental income or investments outside an RRSP or TFSA — you can still do your taxes yourself. But you might need to use paid software to get the forms and information you need.

If your tax situation is complicated, getting help from an accountant or tax preparation service could also make more sense. (You can always start a free tax return with H&R Block and, if you run into issues, pay for professional help).

No matter the company you use, be confident in the knowledge that registered tax preparers in Canada must use CRA-certified software and a secure EFILE login to prepare and file your return.

Is it free to file my taxes online in Canada?

If your situation is straightforward, there’s a good chance you can do your online tax return for free. All you need is software certified by the CRA and a reliable internet connection.

There are plenty of free tax software options available. And to make it easy, the CRA lists all the certified software links on their website.

You can (and should) explore various free offerings from providers like:

• TurboTax
• H&R Block
• Wealthsimple
• UFile
• CloudTax
• StudioTax

No matter which software you choose, it’s good to know your tax return will be sent directly to the CRA through their secure NETFILE portal.

Unlike an EFILE login, NETFILE is an electronic service for individuals filing their own returns online. It’s free to use and even provides immediate confirmation that your tax return has been received.

Read more: How to choose the best Canadian tax return software for you

Is free software (like TurboTax) really free?

Free tax software and pay-what-you-want models really are free to use. But since free offerings from paid software providers are based on individual tax situations or income levels, it’s important to check what’s included.

Here are a few examples of how to file taxes online in Canada at no cost:

• TurboTax Free is 100% free to use so long as you’re completing a ‘simple tax return’ (visit their website to see what is and isn’t included when filing for free)
• H&R Block Online is free if you’re 25 or younger
• UFile Online is free if you’re a student
• Wealthsimple Tax lets you pay what you want to file with their basic plan (including $0)

All CRA-certified software includes the auto-fill my return service. This secure, super-convenient feature lets you automatically fill in parts of your return from information the CRA has on file — including the information on most tax slips (like your T4).

How to do taxes online in Canada in 5 simple steps

Once you’ve chosen your software, the rest of the filing process is equally straightforward. Just follow these five steps and you’ll be doing your taxes online in no time.

1. Update your personal information

If you’ve filed in the past, you won’t be able to change certain personal information when completing a tax return online. So it’s important to update the CRA in advance if things like your name, address or marital status have changed.

The easiest way to update your information is to register for the CRA’s My Account and make the changes there. My Account is great because it also lets you do things like use ‘Auto-fill my return’ and ReFILE, get tax refunds directly deposited into the account of your choice, and you can view your tax return, notice of assessment, refund, and payment information.

2. Gather your tax documents

Gathering your documents before you start will make it easier to complete your tax return and be ready to file in just one go.

Here are some common tax slips you might need to collect from places like your job, your bank or the My Account platform:

• T4s and T5s for employment, EI and investment income
• T2202 receipt for tuition
• RC62 statement for childcare benefits
• RC210 statement for working income tax benefit advance payments
• Official receipts for student loan interest, childcare, RRSP contributions, donations and medical expenses

You should receive most tax slips by the end of February; however, you won’t get a T5 for investment income (like bank interest) if the sum earned is less than $50. Keep in mind, though, you still have to report this amount on your return.

3. Enter your information

As you enter your information into your tax software, you’ll notice it follows a pretty logical path:

• First, you’ll be asked to enter personal details like your home address, SIN number, marital status and which province you live in
• Then you’ll be asked questions about your tax year, like whether you worked, went to school, had kids or got married
• Next, you’ll walk through entering tax slips (like your T4) for any income you earned
• Finally, you’ll enter slips for expenses (like donations you made) that you can claim as a tax credit or deduction (tax credits and deductions basically reduce the amount of tax you need to pay)

You can use your software’s search function along the way to help understand what information you need to enter and where it goes. In most cases, you’ll mostly be matching the numbered boxes on your tax slips to the numbered boxes in the corresponding sections of your online return.

And remember: If you signed up for My Account, you can use ‘Auto-fill my return’ to automatically fill in certain information for you.

4. Review and file your return

Once your information is entered, you should definitely review it to make sure it’s correct and complete. Your software will help you with this by pointing out possible errors for you to fix and suggesting tax credits or deductions you might have missed. This optimizes your return so you can pay less tax (or even get a refund).

You’ll also see a summary of your finished return when you’re done (your return is officially called a T1) so you can save or download a copy before sending it off to the CRA.

5. Pay your tax or enjoy your refund

If you owe tax after filing your return, the CRA offers several ways to pay. You can use your bank account, debit card, credit card, or cheque to make a payment online, in person, or by mail. The deadline to pay your taxes for 2024 is April 30, 2025.

On the other hand, if you’re expecting a tax refund and you’ve signed up for direct deposit, then the money will show up in your account in eight to 14 business days from the day you submit your tax return.

And that’s pretty much all there is to it.

Read more: How to file taxes and best ways to find deductions and rebates

Bottom line

For uncomplicated returns, filing your taxes online in Canada isn’t nearly as hard as it looks. Tax software is designed to help you file the DIY way. Just be sure to only use CRA-certified software and to check out different features before choosing the best online tax filing site for you.

File your taxes online FAQs

• The RRSP contribution deadline for the 2024 tax year is March 3, 2025.
• The RRSP contribution limit for 2025 is $32,490.
• The federal Basic Personal Amount for 2025 is $16,129.
• The TFSA contribution limit for 2025 is $7,000.’

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

It’s not unusual for people to retire in their 50s, so it’s not surprising that Lanette and Johan Canen, both 55, chose to sell their business and kick off their next stage of life.

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What is surprising is that the couple gave up not only their business but also their Hawaii home to live on a cruise ship full-time. Not only that, but they have effectively made a 15-year commitment to living at sea.

Now, you’d think that a 15-year world cruise would cost hundreds of thousands of dollars per year. But Lanette and Johan’s voyage, which includes food, drinks, WiFi and a cleaning service twice a week, comes at a reasonable price of just about $3,600 monthly, per the Daily Mail.

“We had a rented cars business which we sold to be able to afford our cabin,” said Johan to the news outlet. “People think we’re ultra-rich for being able to do this, but it’s cheaper than our rent and living costs in Hawaii. This is for normal people.”

An economical way to see the world

Last year, payment platform doxo found that Hawaii has the distinction of being the most expensive state in the U.S. based on the cost of the 10 most common household bill categories, which include housing, auto insurance and utilities.

The cost of living in Honolulu, Hawaii is 85% higher than the national average, according to PayScale. The city’s housing expenses are 219% higher and the utility prices are 71% higher than the national average, says the website.

So, it’s not surprising that Lanette and Johan were eager to ditch the expense of living in Hawaii in favor of taking up residence on a cruise ship that would allow them to travel the world.

Around seven months ago, the couple began their journey aboard the Villa Vie Odyssey, a residential vessel docking at 425 ports in 147 countries across three and a half years. So far, they have visited 25 countries.

They have been documenting their journey on YouTube and their account has acquired over 31,000 subscribers. One of the videos from earlier this year shows them enjoying two “incredible” days in Montevideo, Uruguay.

The nice thing about their itinerary is that, unlike week-long cruises, their ship spends multiple days docked at different ports. This allows them to explore local culture without feeling rushed.

“We don’t have an exit strategy, we’re both 55, we don’t need things anymore. We just want adventures and experiences. We went from owning 31 cars to none," Johan told the Daily Mail.

Meanwhile, the couple is enjoying the freedom of not having to do housework or property maintenance.

“It feels so good to have no responsibilities — we have our laundry done and get our sheets changed twice a week,” he said.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

How to stretch your money to pull off your dream retirement

A recent Fidelity survey found that the average saver aged 55 to 59 has a $244,900 balance in their 401(k). For savers ages 60 to 64, that number rises slightly to $246,500.

If your savings levels are similar, you might assume it’s impossible to do what Lanette and Johan are doing. But remember, Fidelity’s numbers represent retirement savings, not total assets. And if you’re willing to unload your most valuable assets, you might be able to pull off full-time travel.

For example, if you have modest retirement savings but are willing to sell your home to access its equity, you might be able to afford a 15-year cruise journey that costs $3,500 monthly or $42,000 annually.

Granted, over 15 years, you’re looking at spending $630,000. But if you’re 62 or older, you may have monthly income from Social Security, and potentially two sets of benefits if you’re part of a couple.

The average Social Security recipient today collects close to $2,000 per month. A couple collecting $48,000 in Social Security per year could conceivably afford to spend $42,000 on a cruise ship. But they would need to make sure they have enough to cover health care expenses as well.

Of course, not everyone relishes spending that much time at sea. But there are plenty of ways you can travel and explore different parts of the country and world in retirement, even if you don’t have a ton of money or energy.

Once you retire, you might be more mobile and able to relocate to a lower cost of living area. That could free up money for travel and other experiences.

You could also decide not to own a home in retirement but rather move from one short-term rental to another in low-cost parts of the country and abroad. Depending on where you choose to live, you may also find that you don’t need to maintain a car, which could be another huge source of savings.

Another option is to buy an RV and spend your days road-tripping across the country. There will be expenses such as fuel and food, but you may find it far cheaper than living in a permanent home.

Ultimately, if you’re eager to travel when you retire, there are ways to pull it off if you’re willing to downsize your lifestyle. And you may find that once you’re immersed in rewarding experiences, you won’t miss the things you’ve given up.

What to read next

• Don’t have the cash to pay Uncle Sam in 2025? You may already be eligible for a ‘streamlined’ handshake with the IRS — here’s how it works and how it can potentially save you thousands
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in great wealth. How to get in now

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links.

For much of last year, President Donald Trump promised “extraordinary” economic benefits from his policies and “the brightest economic future the world has ever seen” for the country. But just months into his second term, the administration is asking Americans to brace for an economic dip instead.

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• Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10

In a recent interview on CNBC’s Squawk Box, Treasury Secretary Scott Bessent warned that the ongoing efforts to cut back government spending would negatively impact the economy. “The market and the economy have become hooked, become addicted, to excessive government spending and there’s going to be a detox period,” he said.

The impact of the ‘detox period’ may already be unfolding

At the end of 2024, government expenditures as a percentage of gross domestic product was 34%.

However, despite the efforts of Elon Musk to cut costs via the so-called Department of Government Efficiency, there is little evidence that government spending has been reigned in. The federal budget deficit hit $1.3 trillion in March — 15% higher than the same time last fiscal year.

While federal government revenues have risen 3% year-over-year last month, total spending increased by 7%. All told, the government is still spending a huge amount of money.

Meanwhile, tariff-driven uncertainty has caused the stock market to record the most volatile week ever during the second week of April. Plus, JPMorgan & Chase raised the odds of a recession from 40% to 60% earlier this month.

Such drops suggest that the only thing this “detox” is eliminating is economic optimism. Here are three ways you can prepare your portfolio for the ongoing fallout.

Gold

In times of uncertainty and volatility, investors often consider gold to be a safe haven. Amid the recent market turmoil, gold has been regaining steam over the last few months, trading above $3,000 per ounce.

With more uncertainty looming, JPMorgan predicts an ounce of gold could reach an average price of $3,675 by the end of 2025, and $4,000 by the second quarter of 2026.

Adding a little gold exposure to your portfolio could help insulate your wealth. You can do so by opening a gold IRA with the help of Priority Gold. This way, you can combine the recession-resistant nature of gold and the tax advantages of an IRA.

Opening a gold IRA with Priority Gold is easy — especially if you already have an existing IRA. They offer 100% free rollover, as well as free shipping and free storage for up to five years.

Qualifying purchases can also receive up to $10,000 in free silver.

Priority Gold is an industry leader in precious metals, offering physical delivery of gold and silver. Plus, they have an A+ rating from the Better Business Bureau and a 5-star rating from Trust Link.

To learn more about how Priority Gold can help you grow your retirement nest egg, download their free 2025 gold investor bundle.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

Inflation-linked treasuries

While consumer confidence is dropping, expectations of inflation are rising. Consumers surveyed by the University of Michigan said they expect 4.9% inflation in the year ahead, while their long-term inflation expectations have jumped from 3.5% to 3.9%, the highest level in 32 years.

Luckily, the government offers Treasury Inflation Protected Securities, or TIPS, which are designed to protect investors against inflation. For investors worried about the cost-of-living or those living on fixed income, these special treasuries could offer a safe place to park cash.

But note that if you need to access your money in the event of an emergency, you have to sell them in the bond market. While U.S. Treasuries are quite liquid, selling them when the prices are down could lead to losses.

Instead, consider opening a high-yield savings account. These accounts typically offer yields significantly higher than the average yields on traditional savings accounts.

To compare your options and find one that suits your needs, check out Moneywise’s best high-yield savings accounts of 2025 list.

Alternative assets

Despite the 90-day pause on tariffs and increasing calls for trade agreements, the U.S. has yet to reach finalized deals with its major trading partners. As the broader market uncertainty impacts stocks and bonds, investing in alternative assets like real estate and art might help diversify your portfolio.

You can invest in shares of single-family homes and vacation rentals across the country with Arrived, a real estate crowdfunding platform backed by world-class investors like Jeff Bezos.

Arrived takes care of the entire lifecycle of the investment — from vetting properties for their investment potential to finding reliable tenants and paying property taxes. So you can sit back and generate potential monthly rental income disbursed through dividend checks.

Sign up with Arrived and become a landlord with just $100.

If you want to invest in real estate but don’t want to take on too much risk, consider tapping into the $36 trillion home equity market.

Homeshares’ U.S. Home Equity Fund is allows accredited investors to gain direct exposure to hundreds of owner-occupied homes in top cities across the country.

Homeshares enters into home equity agreements (HEAs) with the property owners, which typically have built-in downside protection. Because HEAs only represent 25% to 35% of the property’s total value, there’s significant return potential at reduced risk levels.

With risk-adjusted target returns ranging from 14% to 17%, the U.S. Home Equity Fund could unlock lucrative real estate opportunities — without the headaches of buying, owning, or managing property.

This approach provides an effective, hands-off way to invest in high-quality residential properties, plus the added benefit of diversification across various regional markets – with a minimum investment of $25,000.

Another option for diversification is investing in art – which has almost zero correlation with stocks. Bluechip contemporary art has outperformed the S&P 500 index by 43% between 1995 and 2024.

Investing in art was once reserved for the ultra-wealthy, but Masterworks has changed that by enabling retail investors to invest in blue-chip art from the likes of Banksy, Basquiat, and Picasso. From their 23 exits so far, investors realized representative annualized net returns like 17.6%, 17.8%, and 21.5% (among assets held for longer than a year).

It’s easy to get started with Masterworks, and you can even skip the waitlist with this link.

What to read next

• Don’t have the cash to pay Uncle Sam in 2025? You may already be eligible for a ‘streamlined’ handshake with the IRS — here’s how it works and how it can potentially save you thousands
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in great wealth. How to get in now

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Americans are growing increasingly worried that Elon Musk and his team of young engineers may be taking a metaphorical chainsaw to their retirement safety net.

A recent survey conducted by Clever Real Estate between March 5 and 9 found that 85% of U.S. adults are concerned about potential changes to their benefits, while 68% are worried about the future of the Social Security Administration (SSA).

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• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 5 of the easiest ways you can catch up (and fast)
• Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don’t have to deal with tenants or fix freezers. Here’s how
• Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10

Gallup also found that fears surrounding the system’s future have recently reached a 15-year high.

Unsurprisingly, seniors who are already retired or approaching retirement are especially concerned. Roughly 73% of baby boomers — those born between 1946 and 1964 — told Clever Real Estate they were worried that the SSA’s ongoing austerity measures could impact their financial future.

Although only 55% of millennials share these concerns, changes to the Social Security system impact all taxpayers. That’s because 94% of American workers contribute to the pot every year, according to Rep. John Larson.

With that in mind, here are three simple money moves that can help shockproof your retirement income.

1. Monitor everything

With so much in flux, it’s easy to miss some major developments from the Trump administration or lawmakers on Capitol Hill.

Unfortunately, staying up to date may become a little more difficult. According to MarketWatch, the SSA is reportedly considering moving its public announcements from its official website to Elon Musk’s social media platform, X.

To stay informed, consider setting up an account on X if you haven’t already. You should also regularly log in to your Social Security account to monitor your earnings record and get benefit estimates. Setting up news alerts on your phone or email is another simple way to stay in the loop.

Frequently monitoring changes to the system can give you the time and flexibility to adjust your long-term financial plan and better protect your retirement income.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

2. Wait for FRA

The age at which you begin collecting Social Security can significantly impact your monthly benefits.

While you’re eligible to start receiving benefits as early as age 62 — provided you’ve paid into the system for at least 10 years — doing so means your benefits will be permanently reduced.

To receive your full benefit amount, you’ll need to wait until you reach your full retirement age (FRA). For anyone born in 1960 or later, the FRA is 67. Claiming benefits before this age result in smaller monthly checks, while delaying benefits beyond it — up to age 70 — can increase the amount you receive.

You can’t control potential changes to the Social Security system, but you can control when you start collecting benefits — making this one of the most powerful levers you have to maximize your retirement income.

3. Plan with an expert

Working with a financial professional can help you stay prepared for any changes to Social Security and build a solid plan around them.

Financial professionals are more likely to stay in the loop on the latest developments and are better equipped to explain how those changes could affect your personal finances.

According to Edelman Financial Engines, 52% of American adults believe they’re missing out on tax savings and benefits due to a lack of knowledge about sophisticated tax strategies. Nearly 45% said they would need professional help to properly plan for retirement.

Some of these strategies may take years, or even decades, to reach their full potential.

Even small tax savings today can lead to a significant boost in retirement income over time, especially if you have years left to let your investments grow. With that in mind, it’s a smart move to connect with an expert as soon as possible.

What to read next

• Don’t have the cash to pay Uncle Sam in 2025? You may already be eligible for a ‘streamlined’ handshake with the IRS — here’s how it works and how it can potentially save you thousands
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in great wealth. How to get in now

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Robert Kiyosaki, author of Rich Dad, Poor Dad , has been predicting dark clouds for the U.S. stock market for over a year, saying that when the storm hits, one generation will feel the brunt of it.

“BOOMERS are SOL: When the stock market bursts … BOOMERS will be BIGGEST LOSERS,” Kiyosaki posted on X, in December.

In the wake of recent stock market turmoil, Kiyosaki didn’t hesitate to say I told you so.

“That stock market crash arrived today. We are definitely in a RECESSION and more than likely…a DEPRESSION,” he wrote in an X post April 4.

However, the controversial speaker and author went on to write that there’s a chance for investors to turn this crisis into an opportunity – if they play their cards right.

“Take care and make this recession the best thing that has ever happened to you,” he wrote. “You and only you have that power.”

Here are some of the investments Kiyosaki recommends.

Precious metals

Kiyosaki has been a vocal proponent of silver and gold for decades.

In October 2023, Kiyosaki predicted, “Gold will soon break through $2,100 and then take off. You will wish you had bought gold below $2,000. Next stop gold $3,700.”

That forecast has gained traction. Gold prices surged in 2025, now standing at about CAD$4,562.87 per ounce.

Silver and gold have long been considered popular hedges against inflation. The reason is simple: Central banks can’t print precious metals in unlimited quantities like fiat money.

Kiyosaki revealed that he has been purchasing gold and silver mines since 1985 and now he “literally owns tons of gold and silver.”

Real estate — revisited

“Your house is not an asset” is one of Kiyosaki’s most well-known ideas. “What is the definition of the word? If it puts money in my pocket, it’s an asset. If my house is taking money from my pocket, it’s a liability,” he explained.

The Rich Dad website expands on this concept, pointing out that owning the home you live in often takes money out of your pocket in the form of mortgage payments, utilities, taxes and maintenance costs.

Rental properties, however, are a different story.

According to the website, when purchased and managed wisely, rental properties can generate “significant, regular cash flow.” Additionally, increases in rents and property values over time can create “an important supplementary revenue stream.” While all investments carry some level of risk, cash-flowing properties are “generally less subject to the daily ups and downs” of the market compared to other types of investments.

Perhaps that’s why Kiyosaki once disclosed he owns 15,000 houses — strictly for investment purposes.

The good news is you don’t need to be as wealthy as Kiyosaki to get started in real estate investing.

If you choose passive investing in REITs, real estate ETFS and mutual funds, you can invest for as little as the share price, as opposed to more active investments like purchasing a property you intend to live in, which will require you to make a down payment.

Bitcoin

Bitcoin has been another standout performer in 2024, rising approximately 121% year-to-date.

On November 29, Kiyosaki predicted, “Bitcoin will soon break $100,000.” On December 4, the cryptocurrency surpassed that milestone, grabbing headlines worldwide.

But Kiyosaki doesn’t see USD$100,000 as the end of the road. In a November 24 post, he posted a bold projection: “Q: what is the price of Bitcoin in 2025? A: $500,000 according to AI.” He did not specify which artificial intelligence model informed this prediction, but the ambitious target has certainly sparked interest.

One reason Bitcoin attracts crypto enthusiasts is its built-in scarcity, often likened to digital gold. Like gold, Bitcoin can’t be printed at will by central banks. Instead, Bitcoin volume is capped at 21 million by mathematical algorithms.

Kiyosaki has warned that once Bitcoin crosses USD$100,000, it will become “almost impossible for the poor and middle class to catch up.”

He attributes this to the dominance of ultra-rich entities — such as corporations, banks and sovereign wealth funds — who will be the only ones able to acquire Bitcoin in significant amounts.

“The horse will be out of the barn and running,” he wrote, urging people to act now. “Don’t let the rich get richer … without you.”

Sources

1. Au Bullion: Gold Price Today Per Ounce – Live Gold Price

2. Bankrate: Bitcoin’s price history: From its 2009 launch to its 2025 heights, by James Royal (Apr 29, 2025)

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

In eastern South Dakota and the surrounding area, nearly 70% of voters picked Donald Trump during the 2024 election.

Although few regret their decision, this agriculture-based community is starting to feel financial pressure from Trump’s tariff decisions.

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“Now, I don’t know what would have been better,” Jaime Baysinger, a local waitress, told CNN, admitting that she now doubts her choice after the president’s first 100 days in office. “I was expecting a lower cost of your everyday living things.”

Some didn’t vote for Trump, and that small minority of South Dakotans were hesitant to share their opinions with CNN reporter Elle Reeve. Those interviewed expressed anxiety, fear and concern about how Trump’s actions could hurt the Alpena, South Dakota community.

Candor with a hint of caution

Farmers, residents and entrepreneurs now find themselves at a crossroads. They’re proud of their political stripes, but grow increasingly worried about how trade tensions will affect their bottom line.

Further to Baysinger’s comments, she said she was hopeful that the cost of living would not continue to increase.

“Groceries are already outrageous, and then we put the tariffs on across the seas or whatever, like China,” she said. “It just makes everything more expensive for everybody.”

Baysinger is not alone. Becky Hofer, a freight broker who votes Democrat, watched her neighbors vote for policies that will impact the community.

“The biggest thing that frustrates me is that I just feel like nobody cares right now until it affects them,” she told Reeve. “And I don’t understand how they don’t see that.”

To offset her frustration, some farmers showed patience and a laissez-faire approach.

“I think we need to let the president do what he’s doing,” cattle rancher Rod Olerud admitted. “We need to just see what’s going to happen here and give him a little latitude.”

Those who experienced Trump’s first term, and the tariffs on China in 2018, were skeptical, however. Tommy Baruth, a since-retired soybean farmer, felt the pinch firsthand.

“The export market just went right down the tubes because these countries could buy them from other places cheaper, and a lot of times those markets don’t come back,” he said, adding he thinks it’s too soon for his neighbors to open up and admit they’re wrong.

As the economic situation continues to evolve, the area will feel the pinch, regardless of whether or not South Dakotans regret who they voted for.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

Farming under pressure

Tariffs are poised to impact the American agriculture industry. But it’s not the first time they’ve bruised operations. According to the American Soybean Association (ASA), soy growers have still not fully recovered from the 2018 trade war Trump initiated with China.

“In the summer of 2018, soybeans were the prime casualty when the U.S. imposed tariffs on Chinese imports,” the ASA said in a recent press release. “China quickly responded with retaliatory tariffs, including on U.S. soybeans; a move that essentially halted soy exports to the country overnight.”

With exports halted, farmers were the first to experience the financial impact. Even with this experience, many farmers are still willing to support Trump during these renewed tariff talks.

“If it doesn’t work, then we’re going to have to try something different,” says Olerud.

Still, as farmers fail to break even, that laissez-faire approach may make it harder for them to repay loans and potentially increase reliance on government subsidies. Beyond cash flow, farmers who had been hoping to retire — or pass on the family farm to the next generation — may have to pull back on the reins.

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• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in great wealth. How to get in now

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Elbows up, Canada! Canadians from coast to coast are coming together in solidarity to fight back against the trade war U.S. President Donald Trump started and continues to escalate. From where we buy to what we buy, we as a nation are seeking ways to ensure the products we are buying are homegrown.

The ‘Buy Canada’ movement has been gaining momentum and Reddit users are using the opportunity to crowd source the ability to take this movement one step further, and encouraging and inspiring fellow citizens to support Indigenous-owned businesses.

Buy Canadian and buy Indigenous

This movement is picking up steam on Reddit, especially in communities like r/BuyCanadian, where people are coming together to support the cause. Members are sharing recommendations, resources and their favourite Indigenous-owned businesses, creating a powerful collective push to uplift these entrepreneurs.

The value of crowd sourcing on Reddit

Reddit user u/SirCharlesTupperBt emphasized the value of Buy Canadian initiatives such as this, stating, "a lot of this info is out there, but I think many Canadians are just starting to figure out where they can shop that doesn’t involve Amazon or other US based ecommerce. Anything that raises the profile of businesses that keep money in our communities is awesome!”

We’ve put together a curated list of Indigenous-owned businesses across Canada what were recommended by Canadians on Reddit, for Canadians, each offering unique products that reflect their rich heritage.

Buy Indigenous

Looking for some snacks and drinks? There are Indigenous sources for that. U/Sunwinec recommends 392 Pepper Company from Kahnawake. “Amazing hot sauces and the best spicy salsa and tortilla chips you’ll ever eat!”

U/quidamquidam rounds out the snack. “Also in Kahnawake: Kahnawake Brewing Co has solid beer.”

If you’re not feeling for a beer, U/YaldabothsMoon has a tea you should try. “Going to put a plug here for Boreal Delights / Délice Boréal teas. Indigenous owned and operated and they make some of the most delicious herbal teas (teabag mind you) I’ve ever had. Blows DavidsTea out of the water.”

Reddit user u/CurvyAthlete is doing their part, saying they are replacing their American make up with Cheekbone, an Indigenous-owned beauty brand that makes sustainable beauty products.

Even your furry friends can be a part of the “Buy Canadian” Buy Indigenous movement. U/Bitter-Air-8760 shares “Shades of Grey is an indigenous dog treat company here in Ontario. They make natural dog treats from rabbit, beaver, venison etc. I have been using these products for a couple of years and my dog loves them."

Reddit users throughout the post shared other brands they deem worth checking out if you’re looking to Buy Canadian and also support Indigenous businesses, including:

• Outlier Leather Co. – Outlier is a style brand founded and operated by David Spence, a Nisichawayasihk Cree (Treaty 5) entrepreneur. Born in Winnipeg, MB, raised in BC, and now based in Toronto, ON, David personally handcrafts each Outlier product.
• Resist Clothing Company – An Indigenous-owned streetwear brand based in Sagamok First Nation and Toronto. Their designs highlight Indigenous culture and activism.
• Birch Bark Coffee Company – First Nations-owned coffee brand offering organic and Fairtrade coffee while supporting Indigenous communities with access to clean water.
• Wabanaki Maple – Indigenous female-owned business specializing in maple syrup with a deep cultural and historical connection.
• Indigenous Box – A subscription box service connecting Indigenous entrepreneurs with consumers, founded by Mallory Yawnghwe.

And Reddit user u/OldLogger has been doing their own curating of Indigenous-owned business, with a focus on manufacturing. They have compiled a list that includes over 340 Indigenous manufacturers.

Coming together to support each other in tariff time and always

When Canadians choose to Buy Canadian, and specifically, to support Indigenous-owned businesses, they’re not just helping these businesses thrive — they’re also celebrating the diverse cultures that make up this country. In the wake of the U.S. tariffs, now is as good a time as any to consider replacing American companies you typically turn to, with Indigenous entrepreneurs’ alternatives.

As this movement continues to grow, it is a valuable reminder of the importance of being thoughtful in our buying decisions and how each of us can help build a more inclusive and fair society while supporting local businesses.

Through platforms like Reddit, communities can come together to share knowledge, resources and support, creating a ripple effect that benefits all.

The bottom line

The initiative led by Reddit users to support Indigenous-owned businesses is a testament to the positive change that can occur when communities unite for a common cause. By highlighting and patronizing these businesses, Canadians are turning to each other to support each other and our country.

We’ll leave the last word to Reddit user u/gohabs31, an American who is watching us come together as a nation.

"This [Buy Canadian] subreddit keeps getting recommended to me so I’m perpetually an observer, as I’m an American. I just want to say I love you guys and I’m truly jealous of how well you all seem to come together in the face of adversity."

Sources

1. Reddit: Buy Canadian subreddit

2. Reddit: Buy Canadian: Support the indigenous people and their businesses too! (March 12, 2025)

3. 392 Pepper Company: website

4. Kahnawakey Brewing Company: website

5. Northern Delights: website

6. Cheekbone: website

7. Shades of Grey: website

8. Outlier Leather Co.: website

9. Resist Clothing Company: website

10. Birch Bark Coffee Company: website

11. Wabanaki Maple: website

12. Indigenous Box: website

13. manufacturedin.ca: website

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

There’s no shortage of coffee shops offering espresso shots and matcha lattes, but Flamingos Coffee Bar in New Hampshire has carved out a niche beyond expensive drinks.

Known for its vibrant decor, playful branding and community-focused atmosphere, the café has built a loyal customer base at both its locations.

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With bright flamingo wallpaper and a neon sign that reads “Zero Flocks Given,” the shop positions itself as a welcoming space for all — from remote workers to first dates.

But one online review — describing the café as “disgustingly pro-women” — sparked an unexpected branding opportunity.

"Place was disgustingly pro women and just walking inside I immediately felt unwelcome as a male … probably wouldn’t return," it read, according to WMUR 9 ABC News.

Instead of allowing the comment to damage the shop’s reputation, owner MacKenzie Logan turned it into a new business idea that ultimately led to a broader customer base.

Zero flocks

While no business owner enjoys reading negative reviews, Logan saw an opportunity where others might have taken offense.

"It’s actually a really great motto," she told WMUR 9 News. "It’s a great slogan."

Rather than ignoring the comment, Logan tested the waters online, asking her community whether they’d be interested in merchandise bearing the phrase “Disgustingly Pro-Women.” The response was very positive — so much so that she moved quickly to turn the idea into a new revenue stream.

With her garage doubling as a shipping center, orders began pouring in from across the country.

Logan’s entrepreneurial pivot reflects a growing trend. According to a Quicken survey, 43% of Americans with side hustles report earning more and working fewer hours than they would with a single job.

In Logan’s case, the merchandise — and the message — resonated far beyond New Hampshire.

"I’ve had people tell me they’ve driven from New Jersey," said Colleen Jenkins, who works at Flamingos. "I had a lady from Virginia, specifically just to get our coffee, and they planned their vacation around Flamingos."

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

Larger purpose

This isn’t just a feel-good fashion statement — it’s a movement stitched together with purpose. With 20% of all proceeds going directly to Exeter Area Womenade, a local nonprofit that provides immediate financial assistance to those who need it, these T-shirts represent more than just a trendy slogan.

"They will help people if they need new tires or if their car is broken down and it needs a fix for them to get to work," Logan said. "You won’t find pretty much any other nonprofit in the area that can help in that way."

In a country where women in 2024 still earn just 85 cents for every dollar a man makes — according to Pew Research Center — being a strong woman isn’t just empowering, it’s essential.

As one customer, Zan Lewis put it, "I think being pro-women does not mean not pro-anybody else."

As inflation and the cost of living continue to climb, the need for financial aid is real. And so is the impact.

“Giving back has been shown to boost happiness, reduce stress, enhance self-esteem and strengthen social connections,” Megan Hays, Ph.D., a clinical psychologist at the University of Alabama at Birmingham, shared with UAB News.

While a negative review called the coffee shop “disgustingly pro-women,” the business remains unapologetically aligned with its values — and that’s the point.

Whether customers wear the shirt or simply support from a far while sipping on a latte, backing a company that champions equity and refuses to dilute its message isn’t just admirable — it allows for a larger cultural shift.

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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

It’s not uncommon to carry multiple credit cards, but how many is too many?

According to the Canadian Bankers Association there are 100 million credit cards in circulation in Canada. And while that statistic doesn’t offer a definitive answer to this question, experts believe it all depends on your lifestyle and the purpose each credit card serves. For example, those who carry multiple credit cards often have one or two for personal use and another one for business.

But what if you carry, let’s say, four unused credit cards just for emergencies? Is that too many, or is it smart to have a lot of available credit in case you need it?

Since your credit score has a big impact on your overall financial situation — as does the amount of credit card debt you carry — answering these questions is fairly important.

So, let’s take a look at the pros and cons of carrying multiple unused credit cards

Benefits of multiple credit cards for emergencies

There are quite a few benefits to having multiple credit cards open at a time.

First of all, if you have several credit cards and carry a low balance on them, this improves your credit utilization ratio, which is the second most important factor in the credit-scoring formula.

Your credit utilization ratio is calculated by dividing the credit you’re currently using by the amount of credit available to you. So, if you have four credit cards — each with a $1,000 limit while carrying a $100 balance across all four cards — your ratio would be $100 divided by $4,000, which comes to 2.5%. Experts recommend a credit utilization ratio below 30% to boost your credit score.

Having multiple credit cards open also allows you to take advantage of the benefits and perks that each card offers. For example, if one card offers 5% cashback on groceries while another offers 5% on gas, you can use different cards for different transactions to maximize rewards.

If you have four cards, you’ll also have a lot of available credit — although this can be both a blessing and a curse. For instance, using credit cards for emergencies can be dangerous since these cards often have very high interest rates, and putting surprise expenses on your card could mean you end up in debt, struggling to pay back what you owe.

However, if some of your credit cards have special promotions, like a 0% introductory annual percentage rate (APR), having a lot of accessible credit at zero interest can help you pay for big purchases over time without paying interest — as long as you repay the full balance before the interest starts accruing.

Downsides of having multiple credit cards

Before you rush out and sign up for multiple credit cards, you should also consider the downsides to this strategy.

Since four credit cards is a lot of cards to manage, you run a greater risk of missing a payment if you’re using all of them. Plus, depending on how the rewards programs work, you may not use any one of the cards enough to redeem the rewards.

Meanwhile, if you aren’t using all of your cards, there’s a chance they could be closed due to inactivity, as credit card companies don’t typically let customers keep unused cards open forever. If this happens to you, the loss of an account could hurt your credit score by reducing your available credit, as well as your length of credit history — the period of time that your credit accounts have been open. Length of credit history accounts for 15% to 20% of your credit score.

Unused credit cards also create a greater risk of fraud, since you might not notice if someone starts using your card unless you’re regularly checking the statements. And, if your cards have annual fees, you could be wasting a lot of money keeping cards open that don’t justify their value.

Lastly, having a lot of credit available to you creates the risk of falling into debt if your spending habits get out of control, or if you start relying on these cards for emergencies.

How many cards is a good number to have?

Ultimately, the right number of credit cards for you depends on multiple financial factors, including how responsible you think you can be, how much time you want to spend managing multiple cards and your goals for owning multiple credit cards.

If you want to maximize rewards, you trust yourself not to overspend and you’re OK with actively managing four accounts, having this many cards may be right for you. Just be mindful that inactive cards will eventually be closed, so you may want to use your inactive cards here and there for the odd $20 transaction to keep the accounts active.

But if you want to simplify your life, or don’t trust yourself not to charge too much on all of your cards, you may be better off with just one great rewards card.

By thinking about these issues, you can decide what’s best for you. Just remember to be careful — signing up for too many cards could lead to you closing some of them in the future, and closing cards isn’t great for your credit score.

You should also make sure you have an emergency fund instead of relying on cards, as using your credit in an emergency could cause long-term financial problems if you struggle to pay off the balance.

Sources

1. Canadian Bankers Association: Credit Cards: uses and benefits

2. Government of Canada: Improving your credit score

3. myFICO: What’s in my FICO Scores?

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.