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It is that time of year when taxpayers cross their fingers and hope for a tax refund. Canada Revenue Agency (CRA) data for the 2026 tax-filing season through April 20 show about 62 per cent of tax returns filed resulted in a refund. The average refund was about $2,248. Taxpayers with a balance owed an […]
Why retirees are often shocked by tax bills and how to reduce them Read More »
For those who work in AI, let me share a cautionary tale based on history. You may be getting incredibly rich right now, but there’s little point in being rich if your safety is constantly at risk. Back in 2008, I was working in finance at Credit Suisse Group in San Francisco. There were constant
Be Safe and Live: Don’t Work in AI When the Revolution Comes Read More »
I must live in a bubble. Because in my circle, I don’t know anybody who has a car worth more than 1/10th of their annual gross income. I came up with the 1/10th rule for car buying over 15 years ago to help people achieve financial freedom sooner. Thousands have followed this standard rule since,
Your Car Payment Is A Huge Roadblock To Financial Freedom Read More »
Canadian pension plans are so healthy that employers are taking contribution holidays, but the good times may not last, says human resources consultant Mercer (Canada) Ltd. “Surpluses have been increasing over the past couple of years and when the surpluses get large enough, some clients actually find themselves in a position where a contribution holiday
As someone who’s been writing about FIRE (Financial Independence Retire Early) since 2009 and actually leaving full-time work for good in 2012, it’s been quite an interesting ride. For the most part, I’ve been lucky because the stock market and real estate market have generally trended up, except for in 2018 and 2022. 12 good
FIRE Psychology During a Stock Market and Economic Downturn Read More »
My Shih Tzu bichon, Enzo, loves to wander. He’ll find any opportunity to take off, requiring me to chase after him. We’ve even had to install a GPS-enabled wireless fence., which keeps Enzo in but not because he wants to. Many governments are increasingly taking a similar approach to their tax systems. In a world
Old Age Security reform is a good idea; arbitrary clawbacks are not Read More »
Since I started Financial Samurai in 2009, I have been on a mission to help readers achieve financial freedom sooner rather than later. And one of the core strategies I keep coming back to is encouraging readers to get neutral on real estate by first buying a primary residence. Once you have secured your primary
It Is Easier To Make Millions On A Home Than In Stocks Read More »
In my early days as an adviser , I worked with a client who had spent more than four decades in a demanding professional role, often working long weeks. His financial plan worked exactly as expected when he finally retired, but what surprised him was everything else. Without meetings, deadlines or colleagues, his days suddenly
From retirement to rewirement: Why working past the age of 65 is becoming normal Read More »
One of the biggest fears workers have about retirement is losing their sense of purpose. That fear is not unfounded. It is one of the negatives of early retirement nobody likes talking about. For the first several months, maybe even a year, you may feel a little lost. The steady paycheck is gone. The camaraderie
Finding Purpose After Retirement Is Easier Than You Think Read More »
At the end of 2024, a relative asked me for financial help. She was planning to leave her expensive money management firm at Goldman Sachs Asset Management, where she was being charged close to 1.5% in fees and placed in a series of esoteric GS funds that charged another 1–2%. I’m not a fan of double-dipping, so I
I Fired Myself As Money Manager And It Feels Great Read More »
Q. I am a single 61-year-old and my concern for my nest egg is simply maintaining the capital. I’m not optimistic about the world economies and wonder if Treasury bills or guaranteed investment certificates (GICs) are enough of an investment to simply keep my principal intact over the next few years. I make about $60,000
Are GICs enough to keep Silvia’s nest egg going? Read More »
Now that both of their children have started their careers, are married and purchased their first homes, Timothy,* 57, and Margaret, 53, are ready to retire. Ideally, they both want to leave the workforce in two years when Timothy can retire with his full defined-benefit pension after 30 years of work. “We’ve helped the kids
Should couple in their 50s who want to retire tap into RRSPs or apply for CPP? Read More »
Recently, a home in the beautiful Forest Hill neighborhood of San Francisco was listed for $2.4 million. It had four bedrooms, three bathrooms, and a modest 2,250 square feet. The home had been remodeled about 15 years earlier. As we do with every open house, my wife and I made bets on what we thought
The Pain Of Selling A Home Too Soon In A Rising Market Read More »
Robinhood is one of the most popular online brokerage firms today, especially among younger investors who actively trade. During COVID, Robinhood famously restricted trading in 13 stocks on January 28, 2021. As a result, thousands of investors were unable to buy or sell, and billions of dollars in value swung during the freeze. Robinhood does
How Robinhood’s Venture Fund Listing Could Impact Fundrise Venture Read More »
Ingrid* is stressed. She is 68, retired, and on her own since her husband died seven years ago. Her current income is just enough to cover expenses with “little left.” But she wants to undertake a major renovation of her home and make sure her portfolio is able to generate at least $80,000 after tax
B.C. widow worried about retirement income with OAS clawbacks Read More »
From 2009, when I started writing about FIRE, until now, the FIRE movement has had a great run. It was born out of the 2008-2009 global financial crisis, when hundreds of thousands of people were losing their jobs. In order to cope with the sudden disruption to their economic livelihoods, the concept of FIRE was
The FIRE Movement Is So Back Thanks To AI Disruption Read More »
In an attempt to better understand the potential discount or premium to NAV for the Fundrise Innovation Fund (VCX), I wanted to examine Pershing Square Holdings, ticker PSHZF, listed on the London Stock Exchange. Pershing Square manages over $18 billion and is run by American, Bill Ackman. Meanwhile, the fund currently trades at about a
Why Pershing Square Holdings Trades At A Deep Discount To NAV Read More »
Canada’s high cost of living is eroding the confidence of its residents when it comes to their retirement plans. Two-thirds of Canadians say inflation has made it difficult to save for retirement, while 74 per cent said high prices have added to the concerns that their retirement nest egg may not be enough, according to
Posthaste: Increasing cost of living is eroding Canadians’ retirement confidence Read More »
Q. Will you review the financial plan prepared for me by a certified financial planner? I am 65, single and have a good income, but I’m scared I don’t have enough money to retire even though the plan says I do. —Kate FP Answers: Hi Kate. Reading your question started me wondering about two things.
‘Chicken Little’ worth about $4 million is scared she won’t have enough to retire on Read More »
At 69 and 73 respectively, Marie* and Jonathan are just about to start withdrawing from their investment nest egg to fund their lifestyle. Up until this summer, Marie worked part time, earning about $3,000 a month. She wants to replace that earned income with investment income, but is concerned they may not have enough savings
Still working after 65, couple wonders if they can afford to retire Read More »