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Category: Moneywise

  • Grant Cardone predicts 843% upside for this 1 asset, claims it will ‘replace’ gold as an alternative to savings accounts, US Treasuries — here’s what it is and how to buy it in 2025

    Grant Cardone predicts 843% upside for this 1 asset, claims it will ‘replace’ gold as an alternative to savings accounts, US Treasuries — here’s what it is and how to buy it in 2025

    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.

    As a real estate mogul, Grant Cardone has long championed the advantages of real estate investing. However, in recent years, Cardone has been quietly building his position in a completely different asset — one he believes holds tremendous potential for growth.

    “I’ve been investing in Bitcoin (BTC) since 2013 and consistently adding to my position quietly, even as recently as last week and today when BTC hit $106,000,” he wrote in a Dec. 17 email to Moneywise.

    Cardone’s conviction stems from his vision of Bitcoin’s future role in the global financial landscape.

    “My belief is BTC will eventually replace gold, and possibly be on the U.S. balance sheet and at least adopted as an alternative to treasury bills, savings accounts, ETFs and diversified mutual funds,” he explained.

    He further pointed out that this idea isn’t far-fetched, noting that the Bitcoin Policy Institute has drafted an Executive Order for a Strategic Bitcoin Reserve for President-elect Donald Trump.

    Once considered a niche asset, Bitcoin has surged into the mainstream, with its price skyrocketing 120% in 2024 alone. The cryptocurrency has also caught the attention of policymakers, including Trump, who sees its strategic potential.

    “We’re going to do something great with crypto because we don’t want China, or anybody else … but others are embracing it, and we want to be ahead,” Trump told CNBC’s Jim Cramer in December.

    How high can it go?

    One reason Bitcoin attracts crypto enthusiasts is its built-in scarcity, often earning it the nickname “digital gold.” Unlike fiat currencies, which can be printed in unlimited quantities by central banks, Bitcoin’s supply is capped at 21 million coins, a limit enforced by its underlying mathematical algorithms. This scarcity has fueled its reputation as a hedge against inflation.

    Over the years, Bitcoin proponents have made bold predictions about its future price. In his email to Moneywise, Cardone shared his own projections for the cryptocurrency’s potential growth in the coming years.

    “A conservative model project BTC prices of:

    • $150,000 – 180,000 in 2025,
    • $300,000 within 36 months,
    • $600,000 at 60 months,
    • and $1 million at 72 months,” he stated.

    Reaching the $1 million mark would represent an extraordinary upside of approximately 843% from Bitcoin’s recent levels.

    For those looking to hop on the Bitcoin bandwagon, platforms like Robinhood Crypto allow users to buy and sell crypto with as little as $1 without any trading fees or commissions.

    Robinhood Crypto has the lowest trading cost on average in the U.S. — meaning you could get up to 3.6% more crypto compared to trading on other platforms.

    Real estate isn’t forgotten

    While Bitcoin’s ascent has drawn plenty of attention, its journey to current levels hasn’t been without significant pullbacks. To address this, Cardone is launching a hybrid fund that aims to balance the risks and rewards of cryptocurrency with the stability of real estate.

    “Our conservative models, using historical performances, suggest we can use real estate to mitigate volatility by pairing BTC and institutional-quality, cash-flow-positive real estate together,” Cardone explained in his email. “We’re purchasing 10 institutional-grade properties in prime locations, all of which generate positive cash flow and will benefit from rental growth over the next 48 to 72 months.”

    Cardone’s strategy involves using the dollar-cost averaging method to incorporate Bitcoin, funded by the monthly cash flow generated from these properties. He says this approach combines the best attributes of both asset classes: “time-tested, institutional-grade real estate and the high-growth potential of Bitcoin.”

    Real estate remains a cornerstone of wealth building for many investors. Rental properties can not only provide a steady stream of passive income but also offer the potential for long-term appreciation and act as a tangible hedge against inflation, as property values often rise in tandem with the increasing costs of raw materials, labor and land.

    Crowdfunding platforms like Arrived have made it easier for average Americans to invest in rental properties without the need for a hefty down payment or the burden of property management.

    With Arrived, you can invest in shares of rental homes with as little as $100, all without the hassle of mowing lawns, fixing leaky faucets or handling difficult tenants. The process is simple: browse a curated selection of homes that have been vetted for their appreciation and income potential.

    Once you find a property you like, select the number of shares you’d like to purchase, and then sit back as you start receiving rental income deposits from your investment.

    Another option is First National Realty Partners (FNRP), which targets necessity-based commercial real estate.

    The platform lets accredited investors own a share of institutional-quality properties leased by national brands like Whole Foods, CVS, Kroger and Walmart. Investors can enjoy the potential to collect stable, grocery store-anchored income every quarter.

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

  • Costco’s impact goes beyond its $1.50 hot dogs, taking the top spot for Canadians’ grocery preferences

    Costco’s impact goes beyond its $1.50 hot dogs, taking the top spot for Canadians’ grocery preferences

    With its larger-than-life bulk items, enticing discounts and cheap hot dogs, the aisles of Costco can feel like an abundant wonderland and an overwhelming funhouse all at once.

    And while purchasing a palette of breakfast cereal may not always be necessary, the wholesale retail chain is at the top of the list of Canadians’ preferred grocery chains, according to customer data science company dunnhumby’s Retailer Preference Index (RPI). Following Costco in this list are Super C, Maxi and Walmart.

    “The impact of customer’s behavioural shift due to inflation are clear to see across the Canadian market,” Chris Thomson, dunnhumby’s senior vice-president in Canada and the US, said in a statement.

    “For retailers to succeed over the next 12 months, they need to be clear on how their value proposition meets and connects to customers’ evolved needs in a way which matters to them. Change leads to opportunities, and this change in customer behaviour presents opportunities for all Canadian grocers, as long as they are also able to change with their customers.”

    The majority of a retailer’s success is based on their price, promotions and rewards propositions, so it’s not a shock that Costco hits the mark on this. All of the most popular retailers are club, discount and superstore banners, according to the data.

    The most popular types of grocers in Canada

    Conventional grocers, comprising almost 40% of the Canadian market, represent the second and third most popular for Canadians’ grocery shopping preferences.

    The top type of retailers grew grocery revenue the most over the past five years and have built a competitive edge in overall market share. Retailers with clear and strong customer value propositions — indicated by higher rankings in the index — grew up to 1.5 times faster over the long-term and three times faster in the past year than retailers with lower rankings.

    “The RPI has been a core report for retailers across the US for the last eight years, playing a fundamental role in helping grocers focus their value propositions on the needs of the customer. The Canadian RPI can play a similarly pivotal role in the Canadian grocery industry, supporting retailers to capitalize on opportunities driven by change and even help conventional grocers do something more unconventional to meet changing needs,” Thomson said.

    A look into Canadians’ grocery preferences

    It’s not the larger than life products at Costco that make it the top choice for Canadians’ stocking up on groceries. Canadian retailer’s long-term success is based on the following categories:

    • Price, promotions and rewards proposition (44%)
    • Quality (31%)
    • Digital (11%)
    • Speed and convenience (8%)
    • Operations (6%)

    Value lever importance varies by region, with 48% of Ontario based retailers’ long-term success due to their price, promotions and rewards proposition, compared to 35% for Atlantic-based retailers.

    Costco’s success is due to their powerful performance across four out of the five pillars, including ranking first for operations nationally.

    In addition, Costco is moving towards becoming an everyday retailer for customers as it becomes more accessible to customers through third-party delivery channels such as Uber Eats and Instacart and as it increases its presence in home meal replacement categories.

    Walmart wins on the digital ranking across all regions, but three out of 10 Canadian customers shop Amazon for groceries.

    Survey methodology

    The dunnhumby company analyzed customer and financial data for the 28 largest conventional, discount, superstore and club banners in Canada, which account for 97% of market share in those formats.

    The customer perception data comes from dunnhumby’s survey of 6,000 Canadian grocery shoppers.

    The five drivers of the customer value proposition are: Price, promotions and rewards; quality; digital; speed and convenience; and operations. Financial data analyzed included market share, near-term and long-term sales growth.

    This article Costco’s impact goes beyond its $1.50 hot dogs, taking the top spot for Canadians’ grocery preferences originally appeared on Money.ca

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

  • This chunk of the US population is set to inherit a staggering $9 trillion in next decades, report says. This is who will be giving — and receiving — in the next ‘great wealth transfer’

    This chunk of the US population is set to inherit a staggering $9 trillion in next decades, report says. This is who will be giving — and receiving — in the next ‘great wealth transfer’

    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.

    Baby boomers are set to drop a huge windfall on Gen X and millennials over the next 20 to 30 years.

    However, before this deluge of wealth — to the tune of $72 trillion in assets — lands in the hands of the middle-aged generations, there’s another group of Americans in line to inherit the riches first: spouses and partners, principally women.

    In this instance, the movement of money to spouses or partners has been dubbed the "horizontal wealth transfer” since the wealth isn’t changing generations — yet. A 2024 Global Wealth Report from UBS revealed that an estimated $9 trillion is going to transfer intra-generationally in the coming years, with the funds moving from one spouse or partner to another.

    This means that, by 2030, this horizontal wealth transfer will likely have reshaped wealth management in the country — a landscape that has largely been dominated by men.

    Here’s why this is happening — and what it means for the economy.

    What does this wealth transfer mean?

    For many wealthy baby boom couples, men are the primary decision-makers regarding money matters. McKinsey’s research shows that men make key financial decisions in two-thirds of all affluent households in the United States — while around one-third of financial assets across all households are currently under the control of women. That’s more than $10 trillion.

    By 2030, however, their research shows women are estimated to control around three times that amount, or the majority of the $30 trillion baby boomers will collectively own at that time.

    McKinsey’s report suggests this massive transfer of wealth to (mostly) women will be of "such magnitude that it approaches the annual GDP of the United States."

    If you expect to inherit a substantial sum from your spouse, proper financial planning goes a long way toward managing your wealth and securing your future.

    Arta Finance is a comprehensive wealth management platform and digital family office that can take care of your needs.

    Accredited investors can invest in alternative assets, including private equity and hedge funds — all in one platform. You can also benefit from tax and estate planning services and private investment advisory services under Arta’s family office services.

    Sign up and create an account in just two minutes and get the first $100,000 worth of assets managed free for life.

    When women take control of wealth after their partners’ deaths, it will affect the global financial economy. Data shows women are more likely to seek professional financial advice, are less risk tolerant when it comes to investing, and are more likely to give money to groups supporting women.

    Estate and taxes

    One of the biggest challenges Americans will likely face is navigating the complexities of estate planning.

    If you or your family members don’t have a will in place, you might have to pay exorbitant probate fees and other charges. Not to mention, family disputes over inheritances can cause rifts between loved ones, in addition to the financial strain.

    Plus, if you inherited under intestacy laws rather than through a will or trust, or if your current will leaves everything to your now-deceased partner, estate planning should also be a top priority after you inherit a windfall.

    Also consider that estate taxation laws differ between states, which might be difficult to deal with without having a will or living trust.

    LegalZoom is an online platform that can help you avoid these issues, helping you create an estate plan at an affordable price.

    On their platform you can create a will and living trusts, grant power of attorney, and provide advanced health care directives. Their simple and cost-effective process means you can bypass the need to find, hire and pay for a lawyer the old-fashioned way.

    You can create a basic will for as little as $99 by answering a few quick questions, reviewing and verifying the information in the documents created by LegalZoom, (either by yourself or with a lawyer), and then signing.

    Plus, if you are unhappy with LegalZoom’s services, you can request a full refund within the first 60 days.

    Creating a careful plan for how to distribute funds among children, grandchildren, and other beneficiaries is essential.

    Making the right financial moves will ensure that – if you benefit from the horizontal wealth transfer – you can preserve inheritances until you’re ready to pass along this wealth to the next generation.

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

  • How to get financial aid for Canadian students studying in the USA

    How to get financial aid for Canadian students studying in the USA

    Studying in the United States is a dream for many, with 28,000 Canadians heading south of the border in 2023 alone for their studies. Accessing student aid is a make or break moment for many Canadians considering the high cost of schooling in the US.

    But the rewards are worth it. After all, some of the best schools in the world are located in the United States, with five in the top for 2024 being located in the US.

    This article will dive into tuition costs, student aid for Canadians studying in the United States, and some of the best scholarship opportunities available.

    Tuition costs in the United States

    Paying for your education in the United States is arguably the hardest part for prospective Canadian students, even with student aid.

    This is due to a combination of the exchange rate between two currencies, the view that university is a luxury rather than a necessity, and a culture of accepting debt. Many Americans, almost 52%, had not completed a college level degree. What’s more, only 28% held a Bachelor’s Degree, according to the United States Census Bureau.

    This places a premium on upper level education. Student aid aims to uplift students who might otherwise not be able to access a university or college level education.

    Your fees will also depend on whether you’re looking at publicly or privately funded schools. Public universities tend to be cheaper. Private options command higher tuition, but ideally give back through a combination of reputation, networking and quality. Finally, you have private for-profit institutions.

    Tuition costs across the three school types during 2022 and 2023 for a four-year degree were:

    1. Public institutions: $39,000 total, or $9,800 during that year
    2. Private nonprofit institutions: $122,100 total, or $40,700 during that year
    3. Private for-profit institutions: $72,800 total, or $18,200 during that year

    Meanwhile two-year degrees during the same survey period were:

    1. Public institutions: $8,000 total, or $4,000 during that year
    2. Private nonprofit institutions: $39,000 total, or 19,500 during that year
    3. Private for-profit institutions: $32,600 total, or $16,300 during that year

    These data were gathered by the National Center for Education Statistics. Costs were assessed by looking at tuition, required fees, school supplies, room and board and other expenses.

    It’s also important to remember that the Canadian dollar doesn’t go as far in the United States. If you’re relying on funding delivered purely in CDN, you should keep a close eye on the exchange rate.

    How to pay for school in the United States

    The smart way to pay for university in the United States is by combining as many student aid funding streams as possible.

    Here are a few ideas to get you started:

    Through combining these student aid packages you can start to cobble together payment for studying in the US. It’s also a good idea to get a part-time job if possible. Keep in mind that you’ll be limited to working 20-hrs per week with an F-1 visa.

    Lastly, those lucky enough to have dual citizenship can apply for federal assistance through the Free Application for Federal Student Aid (FAFSA) program.

    Financial Aid for Canadian students studying in US

    Now that you have an idea of what it takes to study in the US, let’s take a look at some of the best scholarship packages available to Canadians.

    Note that many financial student aid packages are targeted at Master’s or Ph.D. level candidates, not undergraduate students.

    The Fulbright Program

    The Fulbright program is a long-running Canada-US residential exchange program targeting graduate students, prospective graduate students and junior professionals.

    This is a prestigious and competitive option. The benefits can be worth it, however. Options include:

    Applications for the next academic year typically open in May with grant funding beginning that same September.

    Those who already have a Ph.D should instead apply for the Fulbright Scholar Program, which at the time of writing includes nine additional scholarship opportunities.

    The Organization of American States (OAS) Academic Scholarships Program

    Another option is to work with the Organization of American States, which provides both undergraduate and post-graduate scholarships.

    Many of the OAS’ scholarships are targeted at English-speaking parts of the Caribbean and Suriname. However, the Partnerships Program for Education and Training program works with any academic institution partnered with the OAS.

    You can snag up to USD$10,000 for one academic year, provided your university of choice is on this list of members. Typically OAS encourages submitting applications to a minimum of two partners.

    Other scholarship opportunities

    We also suggest taking a deep dive into EduCanada’s scholarship search function.

    There’re plenty of scholarships available. It just takes some effort to find the right one for you.  For Ph.D. students we suggest taking a look at the Vanier Canada Graduate Scholarship or the Banting Postdoctoral Fellowship.

    Apart from these general pools you’ll need to look up your university of choice and dig into their scholarship information.

    Lines of Credit

    Your final option for student aid would be to take out a student line of credit. One of the most popular options is the Royal Bank of Canada’s Royal Credit Line for Students Studying Abroad.

    One of the big benefits is RBC’s cross border banking program. However, most banks offer student aid in the form of a line of credit. For more on the best loans for students check out Money.ca’s coverage, including lines of credit.

    Just keep in mind that managing student aid in this way requires much more discipline and financial literacy compared to more traditional routes.

    Conclusion

    Canadians trying to study in the US face an uphill battle, but the higher your level of education the more opportunities present themselves.

    It’s also important to remember why working in the US as a University educated professional is so desirable.

    The top 20% of the US workforce makes much more than their counterparts. Likewise, the US is a massive market and a nexus for innovations across tech, business and policy. Many of the biggest companies in the world have roots in the US.

    It also helps that the US dollar is the golden standard around the world.

    Getting paid in that currency has a corresponding increase on your global buying power.

    FAQs

    Can Canadians get financial aid in the US?

    Canadians can apply for financial aid in the US, but can’t apply for the Free Application for Federal Student Aid (FAFSA).

    However, some student loan packages in Canada can be applied to international study. What’s more, there tend to be scholarship opportunities on both sides of the border to encourage students to make the leap.

    As a last resort a personal loan can be used to help pay for schooling. There are also student lines of credit available, which require higher financial literacy to manage.

    Can a Canadian get a scholarship to an American university?

    Getting a scholarship to an American university is one of the best ways for Canadian students to access the American educational system.

    With this in mind we suggest putting together a combination of scholarship opportunities both in Canada and the United States. You should also make sure to have the following documents on hand for both applications and scholarships:

    • SAT or ACT test scores
    • A TOEFL or IELTS English proficiency test
    • Letters of recommendation
    • A personal essay
    • All your visa essentials (including Canadian passport)

    It also helps to look for targeted scholarships. Marginalized groups or male-dominated fields often have scholarship opportunities geared towards increasing professional diversity.

    Can a Canadian get a US student loan?

    In short, no. Canadian citizens can’t access loans from Federal or State governments. Those funds are earmarked for US citizens.

    With that being said, you could instead look into whether taking out a student loan in Canada can be applied to US schooling. This is the case for schools on the Ontario Student Assistance Program (OSAP)’s approved schools list.

    Sources

    1. Top Universities: The world’s top 100 universities

    2. United States Census Bureau: Census Bureau Releases New Educational Attainment Data

    3. National Center for Education Statistics: Tuition costs of colleges and universities

    4. Ontario: Study abroad

    5. Ontario: School search

    6. Manitoba: Advanced Education and Training

    7. Manitoba: Advanced Education and Training

    8. University of Cental Florida: Florida-Canada Linkage Institute

    9. International Student: Working in the USA

    10. Federal Student Aid: Home page

    11. Fulbright Canada: Fulbright Canada Student Awards

    11. Fulbright Canada: Fulbright Canada Student Entrepreneurship Awards

    12. Fulbright Canada: Fulbright Canada – Honouring Nations Awards

    13. Fulbright Canada: Fulbright Scholar Program

    14. OAS: Partnerships Program for Education and Training

    15. OAS: OAS Consortium of Universities

    16. EduCanada: Search for scholarships

    17. Government of Canada: Vanier Canada Graduate Scholarships

    18. Government of Canada: Banting Postdoctoral Fellowships

    19. Royal Bank: Royal Credit Line for Students Studying Abroad

    20. Government of Ontario: OSAP School Search

    This article How to get financial aid for Canadian students studying in the USA originally appeared on Money.ca

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

  • Canadians aged 55+ will impact all generations with living legacy gifts (but could suffer if they don’t make wise retirement decisions)

    Canadians aged 55+ will impact all generations with living legacy gifts (but could suffer if they don’t make wise retirement decisions)

    Turns out 2025 promises to be a big year for Canadians aged 55 or older. According to HomeEquity Bank, Canadians nearing or in retirement are actively looking for ways to create stable and purpose-led lives when it comes to financial planning and the primary tool of choice: their home.

    "Despite financial headwinds, Canadians aged 55 or older are taking an active role in creating stability and purpose in their lives by finding new ways to connect with family, and continuing to pursue independence, dignity and empowerment in 2025," explained HomeEquity Bank President and CEO Katherine Dudtschak in a recent statement. "Following a period of extended inflation and increased monthly expenses, we see a desire amongst Canadian homeowners 55 [sic] or older to explore new ways to access the savings in their homes to achieve their goals."

    Dudtschak and her colleagues at HomeEquity Bank offered five predictions for 2025 when it comes to Canadians aged 55 or older — and the biggest beneficiaries will be adult children and grandchildren.

    Changing approach to legacy gifts

    According to HomeEquity Bank analysts, the biggest change coming in 2025 is the way older generations will approach legacy gifts and gift-giving. The older generation realizes that their younger counterparts will benefit more from financial help now rather than down the line, explains Dudtschak.

    For example, over half (53%) of Canadian homeowners aged 55 and above have gifted a significant amount of money to their adult child or grandchild. Drilling down further and more than half (55%) of those gifts were valued at $25,000 or more. If this continues, then "living legacy" gifts will become the most popular form of inter-generational wealth transfer — beating out money to pursue educational pursuits, wedding gift or money for a first home.

    While many children and grandchildren are grateful for the financial aid offered by grandparents, older Canadians need to be mindful of how specific loan types can impact their current living costs and their future lifestyle aspirations. For instance, there was a 16% increase in new reverse mortgage holders using funds for living legacy gifting purposes. While this is generous, older Canadians need to be clear how these more-expensive debt options will impact their current budget or their future beneficiaries.

    Rise in ‘skip-gen’ bonding

    While living legacy gifts — significant financial gifts made while the parent or grandparent is still alive — so is the emphasis on family bonding. While travel with adult children continues to be important, more grandparents have "skip-gen bonding" experiences, where grandparents travel with younger relatives (and without adult children chaperones).

    However, there is a darkside to this trend. Over the last four years (since 2021), there’s been an 86% increase in new reverse mortgage holders who took out this type of equity loan in order to pay for travel with their Gen Z and Gen Alpha grandchildren. According to HomeEquity Bank analysts, this trend is expected to increase in 2025 — with grandchildren the biggest beneficiaries.

    House rich Canadians’ new approach

    According to Ipsos, the number of Canadians 55 and up who are considered house rich, cash poor – defined as less than $50,000 in investable assets and own a home with at least $400,000 in equity – has increased by 66% since 2021 to 2.66 million. For many in this situation, this means a whole lot of money that could be used to enhance your standard of living is locked into the value of your property.

    Another issue is how the rising cost of living has impacted older Canadians on a fixed income. In 2025, more than 1.2 million mortgages up for renewal — and a portion of these renewals are for older Canadians who may already feel the pinch of a limited budget. Faced with significantly larger payments at renewal time, HomeEquity Bank expert predict an increasing reliance on reverse mortgages as an alternative. This helps keep monthly costs to a minimum, while allowing older Canadians to age in place.

    — with files from Romana King

    This article Canadians aged 55 or older set to significantly help younger generations—but need to make wise living legacy decisions originally appeared on Money.ca

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

  • Most Canadian companies are bullish on hiring in 2025

    Most Canadian companies are bullish on hiring in 2025

    Almost three-quarters (71%) of Canadian companies are positive in their hiring outlook for 2025. This is according to a new survey from the Express Employment Professionals and The Harris Poll.

    “There is a lot of optimism in the market going into 2025,” Brent Pollington, an Express franchise owner in Vancouver, said in a statement.

    “The positive outlook seems to stem from a combination of factors including market conditions, perceptions of continued growth and the potential for lowering interest rates, among other things.”

    Express Employments Professionals is an international staffing company with offices in Canada, the US, Australia, New Zealand and South Africa.

    The 2025 hiring outlook

    The other outlooks are in line with the first half of 2024, with 39% of respondents feeling optimistic, 36% feeling confident and 35% feeling hopeful. At this time last year, 70% of companies felt positive about their hiring outlook.

    In addition, half of Canadian companies (51%) report plans to increase their employee count in the first half of 2025, while 41% plan to keep their headcount the same and only 8% plan to decrease their workforce.

    This is also similar to the first half of 2024, when 49% planned to increase their employee count.

    The primary drivers for increasing headcount include managing increased volumes of work (58%), filling newly created positions (45%), addressing employee turnover (38%), getting expertise in new areas (26%) and handling expansion into other categories or markets (26%).

    Optimism balanced with challenges

    Interestingly, while these drivers remain similar to last year, there has been a significant rise in the number of companies who are increasing their employee count to manage work caused by artificial intelligence concerns, from 10% in the first half of 2024 to 18% now.

    “The cost per employee for businesses has drastically increased,” said Pollington. “Worker expectations, market factors, minimum wage hikes, increased demands for benefits and perks, retention strategies, turnover costs and the time and resources needed to train new employees have all driven these costs higher.”

    “Companies are also dealing with the lack of skilled workers in the market which has forced them to focus more on training and development, as well as long-term succession planning. Employers are spending significant time and energy solving these issues.”

    Survey methodology

    The Job Insights survey was conducted online within Canada by The Harris Poll on behalf of Express Employment Professionals between November 11 to 26 of this year, among 505 Canadian hiring decision-makers.

    This article Most Canadian companies are bullish on hiring in 2025 originally appeared on Money.ca

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

  • Mark Cuban had a hot take on Warren Buffett’s investment strategy, claimed buy-and-hold is a ‘crock’ — which billionaire’s investing style suits your wealth goals?

    Mark Cuban had a hot take on Warren Buffett’s investment strategy, claimed buy-and-hold is a ‘crock’ — which billionaire’s investing style suits your wealth goals?

    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.

    Mark Cuban, the outspoken owner of the Dallas Mavericks, is a man with a reported net worth of more than $5 billion. He’s also an investor many pay close attention to.

    His recent comments on diversification, for example, have challenged the popular wisdom of many other notable investors, such as Warren Buffett.

    In the past, Buffett has argued that “diversification is a protection against ignorance.” This advice is highly valued by investors looking to take a more passive approach. Those that don’t want to invest the time as well as the money in picking stocks can rely on index funds (which track the movements of the overall market and provide diversification), effectively removing the need to understand stock performance.

    Mark Cuban, on the other hand, has said that he believes diversification is “for idiots” and that buy-and-hold investing is a “crock.” It’s a strong take, but one many professional money managers stand by when looking to beat the market (making concentrated bets that are right are usually required to beat any benchmark).

    However, Cuban’s appetite for risk is larger than most. In fact, as a longtime investor on Shark Tank, he recently admitted that his investments in the shows’ featured businesses has cost him $20 million.

    For those who are more conservative with their money, let’s look at a few asset classes, and how to achieve diversification to mitigate risk.

    Make informed market moves

    In a 2017 report from Cambridge Associates, diversification was shown to be the more reliable option:

    “Diversified portfolios still prevail over the long term… if those investors with highly diversified portfolios had abandoned that approach during the bull market of the 1990s, they would have earned lower long-term returns and have smaller portfolios today as a result.”

    Clearly, Buffett’s long-range view is borne out by the market’s history.

    Those looking to take the Warren Buffett approach to investing may consider buying index funds that track total market indices around the globe. That’s about as close to true diversification as one can get.

    If you’re looking for guidance on how to beat the market like Cuban, then you’ll need expert advice.

    The team of former hedge fund analysts and experts at Moby spend hundreds of hours each week sifting through financial news and data to provide top-tier stock and crypto reports to keep you up-to-date on what’s moving the markets.

    Moby’s superior research can help you reduce the guesswork when selecting stocks and ETFs. In four years, across almost 400 stock picks, Moby’s recommendations have beaten the S&P 500 by almost 12%, on average — that might be enough to turn even Cuban’s or Buffett’s head.

    With their easy-to-understand formats, you can become a wiser investor in just five minutes, backed by a 30-day money back guarantee.

    Alternatives to the stock market

    For many investors, finding alternative asset classes outside of the stock market can be a great place to start diversifying.

    Real estate

    Real estate is a common alternative to the stock market, but owning a property and managing tenants can make this asset less appealing to those looking for a passive income stream. Residential real estate is also an option for diversifying your portfolio.

    While high home prices and mortgage rates can make buying less appealing, prospective homebuyers are not the only ones sweating housing prices — rental prices are also high. According to Realtor.com, in April 2024 the median rent price for a two bedroom unit in the U.S. was $1,916.

    However, you can make the most of high rental prices by investing in rental properties through Arrived. Their platform allows you to invest in shares of rental homes and vacation rentals without taking on the responsibilities of property management or homeownership.

    With Arrived, you can browse a curated selection of homes, each vetted for their appreciation and income potential. Once you find a property you like, you can choose the number of shares you want to buy and start investing in real estate with just $100.

    If you’re searching for an investment that offers both stability and potential for tempting returns, commercial real estate might be the answer. Unlike the stock market, which can be highly volatile, commercial real estate provides steady income streams with generally lower volatility and a low correlation to the S&P 500, according to Nareit data.

    First National Realty Partners (FNRP) allows accredited investors to access institutional-quality commercial real estate investments — without the leg work of finding deals yourself.

    FNRP — one of the fastest-growing private equity firms — specializes in grocery-anchored commercial real estate. The firm has developed relationships with the nation’s largest essential-needs brands, including Kroger, Walmart and Whole Foods, and provides insights into the best properties both on and off-market.

    FNRP’s secure online platform makes investing in commercial real estate convenient and simple. You can engage with experts, explore available deals and easily make an allocation, all in one personalized portal.

    A creative alternative

    For those looking to further diversify like a billionaire, investing in blue-chip contemporary art is also an option worth considering.

    Over the past 25 years, contemporary art has outpaced the S&P 500 in performance making it a unique opportunity to diversify your portfolio outside the stock market.

    Masterworks knows the power of art investing. Their platform offers 900k+ investors the opportunity to invest in this asset class as part of their overall portfolio strategy. When Masterworks sells a painting – like the 23 it’s already sold – investors reap their portion of any profits.

    In fact, from their 23 exits so far, Masterworks investors have realized representative annualized net returns like +17.6%, +17.8%, and +21.5% (among assets held for longer than one year).

    It’s easy to get started, but offerings can sell out in minutes. Skip the waitlist and get started in diversifying your portfolio today.

    Get help building your own strategy

    No matter what kind of investor you are, one thing remains true: having a team to advise you on key investing decisions is a good move. Both Buffett and Cuban have experienced teams behind them, supporting their decision-making processes and providing key functions that a single individual simply can’t possibly accomplish on their own.

    If you’d like to learn from an experienced professional, check out the matching service offered by WiserAdvisor.

    WiserAdvisor matches you with vetted financial advisors suited to your unique needs. With no fees to get started, you can browse your advisor matches with their comparison tool and book a free initial consultation.

    They’ll ensure your investments are on the right track — and help you spend less time worrying about them.

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

  • Warren Buffett used to give his family $10,000 every Christmas until he noticed they spent it too fast — here are 4 better ways to use a holiday windfall

    Warren Buffett used to give his family $10,000 every Christmas until he noticed they spent it too fast — here are 4 better ways to use a holiday windfall

    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.

    Warren Buffett is known for both his generosity and his frugality.

    That might be why he pulled the plug on large cash gifts for his family after learning they were blowing through the money as quickly as they got it.

    In a 2019 ThinkAdvisor interview, Buffett’s former daughter-in-law, Mary Buffett, recalled when he gifted her $10,000 in hundred-dollar bills. She reminisced, “As soon as we got home, we’d spend it, whoo!”

    As the king of investing, not spending, however, the CEO of Berkshire Hathaway quickly decided the gift of shares would be a better investment for his family’s future.

    With the holidays behind us, you may have been lucky enough to get some cash, as Buffett’s family used to. Tempting as it may be to spend it, follow these tips to use it in a way that the Oracle of Omaha would approve of.

    1. Save

    One of Buffett’s core principles is the power of compounding: where you can earn returns on both your initial investment and its accumulated growth. For example, had Mary invested her $10,000 and allowed it to grow at a 5% annual compounded rate for 10 years, it would have amounted to $16,288.95.

    But finding the best possible rate isn’t always easy. If you’re willing to park your money for at least a year, you can get a rate of return over ten times higher than a typical high-yield savings account with a certificate of deposit (CD). A CD locks in your funds for a set period, providing stability and guaranteed returns, which the stock market cannot promise.

    SavingsAccounts.com can help you shop around across various banks and financial institutions. The platform allows users to easily compare different CD terms, interest rates, and features to find the best options for their savings goals.

    They aim to simplify the process of choosing the right CD by providing transparent and up-to-date information, helping you maximize your return while locking in financial security.

    2. Invest

    Beyond saving, another way to take advantage of compound returns is through investing.

    Investing is higher risk than a savings account, but it can also lead to higher returns. That’s why when Buffett started gifting his family shares instead of cash, Mary Buffett wisely chose to retain her gifted shares in a diversified trust, rather than cashing them out.

    But you don’t need to invest in private trusts to ensure your portfolio is diversified.

    With Acorns, you get instant diversification every time you spend. Their platform helps you start saving and investing each time you make a purchase on your credit or debit card. When you spend, Acorns automatically rounds up the price of the purchase to the nearest dollar, and places the excess into a smart investment portfolio.

    Sign up for Acorns today and receive a $20 bonus investment.

    3. Real estate

    In 2012, Warren Buffett told CNBC that if there was a way to buy thousands of single-family homes at once, and to manage them easily, he would “load up.” He also emphasized he’d take out mortgages at “very, very low rates.”

    Not everyone can purchase multiple properties, nor can they tap into low mortgage rates. After all, the average rate for a 30-year mortgage was 3.65% in 2012. These days, a 30-year fixed mortgage rate is 7.13%.

    There are, however, ways to invest in real estate and avoid some of the downsides of the market.

    First National Realty Partners (FNRP) allows accredited individual investors to access institutional-quality commercial real estate investments — without the leg work of finding deals yourself, negotiating for mortgage rates, or managing the purchasing logistics.

    FNRP has relationships with the nation’s largest essential-needs brands, including Kroger, Walmart and Whole Foods. And since the investments are necessity-based, they tend to perform well during times of economic volatility and act as a hedge against inflation.

    You can engage with experts, explore available deals, and easily make an allocation, all in one personalized portal.

    4. Plan for the future

    Another reason Buffett’s not a big fan of cash gifts is that its value erodes over time. Buffett famously said, “If you don’t find a way to make money while you sleep, you will work until you die.”

    Investing for retirement

    To avoid working after retirement, you need to be prepared with the right investments and accounts. For instance, qualified Roth IRA withdrawals are tax-free. So your earnings and any growth are tax free, too.

    Selecting the right account can be daunting, though. RothIRA.org connects you with pre-screened financial advisors who can guide you in choosing the best Roth IRA to meet your needs.

    When you sign up with RothIRA.org, you’re custom matched with two or three advisors near you who meet your specific needs. Your financial advisors will contact you to set up your initial one-on-one consultation — for free, with no obligation to hire.

    Gold for retirement

    You could also turn a cash windfall into a physical asset, like gold, to diversify your portfolio. Gold has historically acted as a hedge against inflation, and many find it to be a more secure place to invest their wealth.

    When you open a gold IRA with the help of Priority Gold, you get access to IRS-approved gold and silver bars and coins through your self-directed gold IRA account. You can also roll over existing 401(k) or IRA accounts into the precious metals IRA without any penalties.

    If you’d like to convert an existing IRA into a gold IRA, Priority Gold offers 100% free rollover, as well as free shipping, and free storage for up to five years. Qualifying purchases will also receive up to $10,000 in free silver.

    To learn more about how Priority Gold can help you save for your retirement, download their free 2024 guide on how to invest in precious metals or book a free consultation with one of their specialists.

    Planning for your future

    Most of Buffett’s wealth will only be shared with his kids once he passes on. His ethos is you should “give your kids enough so they can do anything, but not so much that they’ll do nothing.” Whether or not you agree, you’ll want to ensure your own wishes are honored. Platforms like LegalZoom can help.

    The platform allows you to easily set up an estate plan that includes a last will or living trust, financial power of attorney, healthcare directive, and HIPAA authorization. If you aren’t sure where to begin, you can call LegalZoom for a free discovery call to help you get started on estate planning.

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

  • How student loan forgiveness works in Canada and the best ways to pay down your student loans

    How student loan forgiveness works in Canada and the best ways to pay down your student loans

    Student loans are often the first debt accrued by young Canadians with the average student loan at graduation for a Bachelor’s degree being $30,600 in 2020, according to Statistics Canada.

    What’s more, the total amount of student debt totals a whopping $23.5 billion. Women make up the majority (59%) of borrowers. Suffice to say, paying down student loans is a right of passage for many Canadians.

    But managing your student loan isn’t just about paying off your debts. It’s also about beginning your journey to financial literacy.

    Part of this puzzle is understanding how student loan forgiveness works in Canada.

    Does Canada forgive student loans?

    Canada has specific circumstances where student loans can be forgiven, but in general, once you take out student loans, you’re locked into a repayment plan.

    However, this repayment plan can be adjusted through Repayment Assistance Plan (RAP) after you graduate. A RAP allows you to:

    • Not pay interest on the federal part of your loan
    • Have the principal and interest paid off after 60 months or 10-years after graduation

    Those on disability may be able to apply for a Repayment Assistance Plan for Borrowers with Disabilities (RAP-D).

    Who is eligible for student loan forgiveness in Canada?

    In Canada student loan forgiveness is limited to medical professionals and reservists.

    However, those studying medicine need to compromise to get their loans repaid. You’ll need to work in a rural area with a population of no more than 30,000. To be eligible you’ll also need to have been employed for at least one year and have provided 400 hours of in-person service to this community, with some exceptions.

    Doctors can receive a maximum of $60,000 over five years, while nurses or nurse practitioners can receive up to $30,000 over the same time period.

    Meanwhile, reservists who are full-time post-secondary students are exempt from paying back student loans while serving in a designated operation. This includes operations that last more than six months.

    But there are still some other ways to get your loans under control.

    Provincial Loan Forgiveness Programs

    RAP and RAP-D cover almost all provinces and territories in Canada. There are, however, a few exceptions.

    British Columbia: Student Loan Forgiveness Program

    Student loans in BC are administered by the provincial government. BC’s student loan forgiveness program offers a wider range of applicable professions. Rather than doctors and nurses, it also includes physiotherapists and some in-demand specialists in children’s medicine.

    Likewise, BC offers forgiveness programs for working in remote areas with small populations.

    As this is an exhaustive list, we suggest taking a look at the BC Loan Forgiveness Program if it applies to your situation.

    Québec: Loan Remission Program

    Québec’s Loan Remission Program drives down student loan debt by 15% provided you graduated on time and received a bursary each year that you were studying.

    This applies to both technical and university programs. You can apply for this 15% windfall up to three years after the end of your program.

    PEI Debt Reduction Program

    PEI’s Debt Reduction Program seeks to encourage graduates to work in island communities through forgiveness incentives.

    The program applies to post-graduate students who have received a degree within the last three years, borrowers from the PEI student loan program, and PEI residents. In all cases you need to have lived on PEI for at least 6-months post graduation to get the loan.

    Since August 2, 2018 PEI allows $3,500 per year in aid.

    Nova Scotia Student Loan Forgiveness Program

    Meanwhile, graduates in Nova Scotia may also qualify for loan forgiveness depending on your graduation date. The upper limit is five years of forgiveness totalling up to $20,400. Even better, the Nova Scotia Student Loan Forgiveness Program is automatically assessed for all new graduates.

    Unlike other forgiveness programs you should automatically receive a letter indicating whether you qualify. For more information, check out the program’s landing page.

    Ways to pay less on your student loans

    There are two primary ways to pay less on your student loans.

    First up, you can reduce your monthly payment amount. This would in turn make it take longer to pay for your loan, but give you temporary breathing room.

    The second option is to make interest-only payments. This can lead to paying more in the long run.

    Other options include the hard work of budgeting, or compromising on your living situation. You can also check out ways to build credit without a credit card and low interest loans to temporarily boost your finances.

    Overall, paying down your student loans as aggressively as possible is often the best bet.

    Conclusion

    Overall, student loans in Canada have much stricter write off conditions compared to student loans in the United States.

    For instance, in the US, student loans can be written off or discharged, based on your type of employment, disability status and for breaches of legal trust (e.g. being misled by a university on matters of qualification or due to forgery).

    As with most loans, the best course of action is to pay them down early and as aggressively as possible.

    FAQs

    Do student loans get written off in Canada?

    Student loans in Canada are only ever written off under extreme circumstances like bankruptcy.

    If you choose to declare bankruptcy to discharge your student loans you must do so at least seven years after graduation in most cases. Even then, your debts will only be discharged for a good reason. You’ll need to prove:

    • You used your loan responsibly
    • Made every effort to complete your eduction
    • Utilized other repayment methods (e.g. Repayment Assistance Plans)
    • Acted in good faith with the intention to pay back your debts

    After a court confirms your bankruptcy, your credit will take a major hit, you’ll likely be barred from taking out loans for some time and you’ll be issued a new repayment plan. Recovering from bankruptcy can easily take a decade.

    Do student loans go away after 10 years in Canada?

    In short, no. Student loans persist until repaid in Canada unless you take action.

    However, if you’re struggling with repayment there are some options. Canada offers a Repayment Assistance Plan (RAP) and Repayment Assistance Plan for Borrowers with Disabilities (RAP-D). If you’re struggling to make payments post graduation you should immediately apply for either RAP or RAP-D depending on your circumstances.

    Note that you’ll need to re-apply every six months to maintain your eligibility.

    How to get rid of student loan debt in Canada?

    The best way to get rid of student debt is to proactively look into RAP and RAP-D as soon as you graduate, provided you qualify.

    Sometimes you study a field that undergoes job market contractions, have to take on family debt due to a death, or end up ill in a way that reduces your day-to-day capability, like with long-COVID.

    No matter the reason it’s important to find a way to keep paying your debt down to avoid becoming overwhelmed by interest payments post graduation.

    Sources

    1. Statistics Canada: Student debt from all sources, by province of study and level of study

    2. Government of Canada: Repayment Assistance Plan – Apply

    3. Government of Canada: Repayment Assistance Plan – Disability assistance

    4. Government of Canada: Repayment Assistance Plan – Disability assistance

    5. Government of Canada: Financial assistance for reservists

    6. Student Aid BC: B.C. Loan Forgiveness Program

    7. Quebec: Remission of your student loan debt

    8. Prince Edward Island: The Debt Reduction Grant Program

    9. Nova Scotia: Nova Scotia Student Loan Forgiveness Program: undergraduate degrees

    This article How student loan forgiveness works in Canada and the best ways to pay down your student loans originally appeared on Money.ca

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

  • ‘The potential for a Liz Truss moment’ This Wall Street expert says these are the biggest risks for investors in 2025 — here’s how to make sure your portfolio thrives

    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.

    Major tax cuts may be coming after the inauguration, which will cost America more than it can currently afford.

    In an interview with the Wall Street Journal, the head of Swiss Re’s life and health reinsurance arm, Paul Murray, estimated that President-elect Trump would increase the federal deficit by 7-12% of GDP. Federal Reserve Chair Jerome Powell described Trump’s borrowing plans as “unsustainable.”

    “We are finally hitting a breaking point,” warned Invesco’s Chief Global Market Strategist, Kristina Hooper, during an interview with Bloomberg in November.

    Hooper was referring to the rising volatility rattling global stock markets. She explained that we might soon face another “Liz Truss moment,” suggesting we are on the verge of even more market instability — just like what happened during the former UK Prime Minister’s brief tenure. When Truss announced major tax cuts, markets went into a tizzy, driving the UK’s currency down to record lows.

    However, there are reasons to stay optimistic: precautionary measures can help investors stay prepared and protected into 2025.

    The argument for diversification

    During her Bloomberg interview, Hooper’s main tip for investors was to diversify. But how do you know when you’re diversified enough?

    According to JP Morgan: "A widely accepted rule of thumb claims that a properly diversified portfolio must have no more than 10 to 20 percent of total investment assets in a particular stock".

    Beyond making sure you aren’t exclusively invested in a single stock, you also may wish to consider you’re invested beyond a single asset class.

    For instance, when the stock market falls, real estate prices may still hold steady. Holding assets across multiple asset classes provides you with a cushion if one begins to fall.

    FNRP offers a way for investors to tap into commercial real estate with its fleet of grocery-anchored retail properties, offering historically strong return potential.

    Their turnkey solutions simplify investing in commercial properties, which are leased to popular brands like Kroger and Walmart and therefore likely to remain desirable. Investing with FNRP can provide a steady stream of income without the hassle of becoming a landlord.

    “Lack of fiscal prudence”

    Hooper also explained to Bloomberg, “We’re seeing countries struggle with fiscal prudence, and that will have ripple effects for investors.”

    If the trickle-down effect of rising debt were to indeed hit American investors, then it would be helpful to audit your personal finances — ensuring your investing and spending habits are aligned with your financial goals.

    The average American spends $273 monthly on subscriptions alone, according to a study by West Monroe. Tools like Rocket Money can help you regain control of your spending.

    Their platform categorizes your monthly expenses and shows your cash, credit and investment balances all in one place. The app will also check to make sure you’re not wasting money on any subscriptions you may have forgotten about, potentially saving you hundreds of dollars a year.

    By trimming unnecessary expenses, you can redirect funds into investments that better align with your financial goals for 2025.

    You can also make sure that you’re making the most of your current spending. When you make a purchase on your credit or debit card, Acorns automatically rounds up the price to the nearest dollar and places the excess into a smart investment portfolio.

    Right now, when you sign up for Acorns, you can get a bonus $20 bonus investment to start growing your savings.

    Watch out for “yellow flags”

    And although many large companies’ stocks have seen a robust recovery, Hooper warns we shouldn’t get our hopes up. “There are yellow flags in the stock market that suggest we’re not out of the woods yet,” she said on Bloomberg.

    Elevated valuations and overreliance on tech stocks have heightened risks for traditional stock portfolios.

    Platforms like Masterworks and American Hartford Gold (AHG) are two unique and innovative ways to diversify beyond the potential tech bubble.

    Masterworks enables access to blue-chip art investments, a class historically resilient to market downturns. And it’s a strategy adopted by wealthy investors, with 83% of wealthy Americans under 43 already collecting art or wanting to.

    Normally, only the top 1% of investors would be able to diversify with art like Picassos and Banksys. But with Masterworks, you can easily diversify into this asset class without needing millions or art expertise.

    With a team that’s been working since 2019, Masterworks investors have realized representative annualized net returns like +17.6%, +17.8%, and +21.5% (among assets held for longer than one year)

    Then there’s gold, which is traditionally considered a safer investment during times of stock market volatility.

    For those seeking safety in tangible assets, American Hartford Gold (AHG) helps investors include precious metals such as gold in their retirement accounts.

    A gold IRA combines the tax advantages of an IRA with the inflation-resistant properties of gold. American Hartford Gold is a leading dealer of precious metals, and offers IRAs and direct purchases of precious metals and coins.

    Sign up now for your free 2024 information guide to find out if a gold IRA is the right move for your retirement goals.

    Opportunities for 2025

    Despite the challenges, 2025 offers numerous opportunities for prepared investors. “The key will be identifying emerging trends early and aligning portfolios accordingly,” Hooper recommends.

    It’s easy to feel daunted, though, if you don’t exactly know where you stand or where to start. Partnering with trusted advisors can make a world of difference. With Vanguard, you can connect with a personal advisor who can help assess how you’re doing with your investments and make sure you’ve got the right portfolio to meet your goals.

    Their hybrid advisory system combines advice from professional advisors and automated portfolio management to make sure your investments are working to achieve your financial goals.

    All you have to do is fill out a brief questionnaire about your financial goals, and Vanguard’s advisers will help you set a tailored plan and stick to it.

    Once you’re set, you can sit back as Vanguard’s advisors manage your portfolio. Because they’re fiduciaries, they don’t earn commissions, so you can trust that the advice you’re getting is unbiased.

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