I’m 60, ready for retirement with $1.2M saved. I plan to live off dividend income — not sell assets. Is this really more risky than a ‘total return’ approach?
At 60, if you have $1.2 million saved for retirement, you have more than double as much as most of your peers, according to Statistics Canada. But even though that’s a lot of money, it’s important to manage your sizeable nest egg carefully. You could try to live off of dividend income from your portfolio, […]
Looking to go on vacation for cheaper? Here’s where the Canadian dollar is worth the most
For many Canadians, spending in a foreign currency can be extremely costly, especially with the unfavourable currency exchange rate between the Canadian and U.S. dollar. There was a time when C$1 CAD was worth US$0.94, but today, that conversion is closer to US$0.70 (as of mid-May, one Canadian dollar converted to US$0.73). This makes travelling […]
Crush cash flow chaos: How smart credit card use can save you hundreds each year (and make budgeting and saving easier)
With the cost of living still high in many parts of Canada and average credit card interest rates hovering around 21%, managing day-to-day finances has never been more important. While credit cards are often associated with debt, when used wisely, they can be a powerful tool for improving your cash flow, earning rewards, and keeping […]
47% of Florida households don’t make enough to cover the basics — and a growing number of them are 65 and up. Why seniors in the Sunshine State are struggling on a ‘survival budget’
A new report from the United Way’s ALICE project reveals a troubling 47% of Florida households don’t earn enough to cover basic living expenses. ALICE stands for “asset-limited, income-constrained and employed” and refers to households that are above the poverty line but earn less than what the organization says is needed to afford the basics […]
This Minnesota mom of three is struggling to survive on her $37,000 annual teacher salary — and she’s not alone. Here’s how many like her are now navigating the death of the American dream
Michelle Boisjoli, a 37-year-old mom of three from St. Louis County, Minnesota, starts her days early and ends them late — not because she wants to, but because she has to. As a full-time teacher earning $37,000 a year, she’s become part of a growing demographic of working Americans who need a second job to […]
A third of Canadians are lacking financial confidence
With cost-of-living woes, recession concerns and ongoing international trade negotiations, it’s no wonder the economic future isn’t all that inspiring for some Canadians. According to a new Co-operators survey, only one-third of Canadians feel optimistic about their financial future. For Gen Z and Millennials, that share drops to 28% and 26%, respectively. "Canadians are seeking […]
You may want to think twice before clicking this 1 popular link next time you get an unwanted email — plus why good ‘email hygiene’ plays an essential role in your financial health
Keeping your inbox tidy often starts with tapping “unsubscribe.” After all, nobody likes a flood of spammy emails. But that simple click can put you at risk. One recent report found that one in every 644 unsubscribe clicks leads to a malicious website. Because most scams target your wallet, good email hygiene is more than […]
Maryland police warn scammers are now using the names of real deputies to pressure people into handing over cash — here’s how to spot the scheme and save yourself from being scammed
A new scam is hitting Prince George’s County in Maryland and it’s more convincing than most. Residents are receiving alarming phone calls from someone claiming to be with the sheriff’s department. The caller warns them of an outstanding warrant for their arrest and then says they can resolve the matter — for a fee. The […]
US Pentagon chief warns of ‘real’ and ‘imminent’ threat from China — says we face ‘devastating consequences’ if Beijing takes this 1 serious step. Here’s how to protect yourself now
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. U.S. Defense Secretary Pete Hegseth has issued a stark warning to America’s allies in Asia. Speaking at the IISS Shangri-La Dialogue in Singapore — an annual security summit attended […]
I’m 57 with $650K in my RRSP and I’m desperate to quit my soul-crushing job — can I afford to retire now?
Patricia can see her retirement on the horizon. It’s tantalizingly close — she’s just turned 57 and stepping away from work has been made more tempting by the fact that she absolutely hates her job. She’s ready to get out now, and put her happiness first. The only problem? She’s not sure if her $650,000 […]