My father is 54, owns his home but has just $10,000 saved for retirement. I have no idea how to help him invest his money. What should I do?
It’s hard to watch someone you love approach retirement with almost nothing saved, especially when that someone is your parent. Let’s say your dad is 54, earns $70,000 a year working as a contractor and owns a home worth $400,000 outright. He’s debt-free, but he doesn’t have a RRSP and has only $10,000 saved in […]
Reducing your credit card debt doesn’t have to be complicated — here’s what you need to know to get on the right track
Ignoring your credit card debt is like letting a ticking time bomb go off — at 19.99% interest, a $3,000 balance can grow to over $6,900 in just five years if only minimum payments are made. According to the Financial Consumer Agency of Canada, making only minimum payments on a typical credit card at 20% […]
Drowning in student costs? Here’s how the right credit card can save you money — and protect your financial future
Picking the right credit card as a Canadian university student is the first step in building good credit and a great way to reap benefits like cashback rewards. To help, here are eight easy tips when choosing a Canadian student credit card. How do student cards differ from other credit cards? Student credit cards are […]
Habitat for Humanity in Windsor, ON ups salary to qualify for home-buying help, meanwhile the average cost for a home in Canada is dropping — is it go-time for first time buyers?
For decades, Habitat for Humanity has been helping people around the world get access to homes of their own. Recently the organization’s chapter in Windsor-Essex, Ontario has increased the salary requirement to qualify for its help as home prices in Windsor have gone up to an average of $570,000 according to CBC. Previously, the upper […]
This mom commuted 3 hours daily, barely saw her kids — until she ‘Googled’ how to repair cars and now earns over US$400K annually. How to build your own DIY empire
After 10 years of building her career as a medical assistant in Atlanta, Georgia, Desiree Hill felt trapped. Not only was she earning only US$38,094 a year, but the job was getting increasingly stressful. “It was long hours,” she told CNBC Make It. “It was three hours of commuting in Atlanta traffic everyday and I […]
A missing decimal cost a Guelph diner $34K. Here’s how to avoid costly clerical mistakes
A simple typo nearly sank Christos Kyriacou’s summer. Kyriacou, owner of Angel’s Diner in Guelph, Ont., went to pay his internet bill in May. Instead of sending the $341.26 he owed Bell, he missed the decimal point and wired $34,126. “Stupid me didn’t put the decimal,” he told CBC News. “Honest mistake, but a big […]
Two Ontario residents are out a combined $90k after they invested in private investment scams. Here’s how you can spot these enticing opportunities for what they are — theft
In the world of investing, the advice “if it’s too good to be true, it probably isn’t,” is a cardinal rule — one that shouldn’t be broken unless there’s reason to do so. Unfortunately, two Ontario residents lost a combined $90,000 after investing with two private investment companies. And they think their money might be […]
Focus on these 3 ‘magic numbers’ to become a millionaire in Canada — how do you stack up?
There’s simply so much wealth-building advice out there that it’s easy to feel a little overwhelmed. If you ask ChatGPT “how to become a millionaire,” you’re likely to get a flood of endless money hacks, conflicting advice and complex economic theory. But you don’t need any of that to get into the seven-figure club. In […]
“I lost everything”: Newcomer alleges $500K scam in Yukon immigration nightmare
A second lawsuit has been filed against a Whitehorse immigration consultant, alleging that nearly half a million dollars was lost in what the plaintiff calls a fraudulent immigration scheme linked to the Yukon Business Nominee Program. Franklin Lee, a Hong Kong national seeking permanent residency in Canada, filed a statement of claim earlier this month […]
Costco customers left confused after hundreds of dollars were drained from their gift cards. Here’s how you can avoid gift card draining scams
A gift card can be a perfect gift in a pinch, or an easy way to prepare for a shopping spree at your favorite retailer. However, for dozens of Costco customers that purchased Shop gift cards from the retailer, they might be rethinking their decision. According to CBC News, dozens of Costco customers have reported […]