The Lure of the Tax-Free Millionaire Dream Larry MacDonald of The Globe and Mail has highlighted remarkable success stories of investors turning their Tax-Free Savings Accounts (TFSAs) into million-dollar windfalls. With $102,000 in cumulative TFSA contribution room as of January 1, 2025 (for those eligible since...
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Investing on your own can be rewarding, but it’s not without its difficulties. Adam Bornn, from Parallel Wealth, highlights eight challenges DIY investors often face in his YouTube video, "8 Hidden Challenges Every Investor Should Know." While Adam provides valuable insights, his perspective seems to assume...
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Balancing Taxes, Investments, and Borrowing As Edi and Roy approached their retirement, they faced a common financial planning challenge: how to fund a $200,000 renovation to their home without derailing their carefully laid plans. With a healthy $3.5 million in assets split across joint non-registered accounts,...
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The Income and Wealth Gap The Context An unattached Canadian is a person not in an “economic family,” that is, a person living either alone or with others to whom he or she is unrelated, such as roommates or a lodger. Unattached Canadians are a growing demographic...
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Matthew and Nicole, both 35, are eager to start a family next year. They’re financially comfortable, with a combined gross income averaging $240,000—but there’s a twist. Matthew’s income fluctuates based on bonuses and sales revenue, leaving them with somewhat unpredictable income. On top of that,...
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Will Your Estate Plan Protect Your Family’s Future? Picture this—a couple, David and Marie, both age 65, living in Ontario. They’ve worked hard all their lives, raised four children, and saved diligently for retirement. Over and above their expectations for income from CPP and OAS, they’ve...
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As my wife and I approach retirement age, conversations about what’s next are becoming more frequent. While we think about retirement in general, I, as the primary “wealth manager” in our household, also reflect on when it might be time to step back from managing...
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Matthew (Matt) is a 27-year-old social worker with a Master of Social Work (MSW) degree, which he completed three years ago. Currently working in the healthcare sector, Matt has seen firsthand how financial instability can cause stress and hardship. Whether due to inadequate insurance or...
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Meet Ashley and Ryan There are many high-income earning households across Canada. Some of them may have stepped into high-paying roles early on, while others have had careers that had the potential for high incomes that were not realized until 15 or 20 years or more...
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I follow a few Facebook pages that have to do with personal finance, retirement, etc. In a post, a man I’ll call Alan is 35 years old and has recently received a $100,000 inheritance that he hopes to use to build up his retirement savings....
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