Finance

Canada’s Top 15 Billionaires and How They Made Their Money

My dad set up an annuity but is asking me to borrow money at the end of every month. What options do we have to set up his finances better?

Annuities are considered to be a reliable income stream for retirement, but if the payout is leaving you short every month, something isn’t working. Whether it’s poor payout timing, rising costs, or bad planning, the good news is: you have options.

Headwinds could still topple Canadian dollar

Karl Schamotta, chief market strategist of Corpay Inc., talks with the Financial Post’s Larysa Harapyn about the trajectories of the Canadian dollar and the U.S. greenback.

What to do when you win big: Lessons from a $65-million Lotto Max windfall

After winning $65 million in the Lotto Max draw, Mark Hanley's story offers a heartwarming reminder to dream big, stay grounded and plan wisely: Advice anyone can use when faced with unexpected wealth

Which Star Wars film made the most money?

Discover which Star Wars movie made the most money at the worldwide box office.

5 Undervalued Stocks Worth Adding to Your $7,000 TFSA Today

These five stocks are some of the most undervalued businesses on the TSX, making them ideal investments for your TFSA today. The post 5 Undervalued Stocks Worth Adding to Your $7,000 TFSA Today appeared first on The Motley Fool Canada.

BoE poised to make Brits wait for interest rates relief amid fears over Middle East and inflation

The Monetary Policy Committee looks set to keep the base rate at 4.25 per cent when the latest decision is announced at noon.

Retired at 67 with a $3 million portfolio and a paid-off house. Is it worth the cost to get a financial planner to ensure our nest egg will last?

There are pros and cons to getting financial help

5 reasons long-term investing beats day trading

Have you ever dreamed of quitting your full-time job and becoming a day trader of stocks? Sure, you have. It’s a common dream. Or, should we say, fantasy. Day-trading is exceptionally difficult. One can be successful for a period of time. But repeatable, long term success is rare. In fact, after 40 years in the investment business, we cannot name one single hugely successful day trader. Certainly, no day traders make it on the list of the...

Average amount Brits have in their savings, according to their age

A Week In A British Columbia Border Town On A $130,000 Salary

Welcome to Money Diaries where we are tackling the ever-present taboo that is money. We’re asking real people how they spend their hard-earned money during a seven-day period — and we’re tracking every last dollar.Today: a counsellor who makes $130,000 per year and who spends some of her money this week on a blanket from The Bay.If you’d like to submit your own Money Diary, you can do so via our online form. We pay $150 for each published diary....

Almost 30% of Canadians will carry mortgage debt into retirement — here are 3 simple ways to tackle what you owe

They should be enjoying sunset vacations. Instead, millions of seniors are sinking deeper into debt.

I'm a professional money expert with dyscalculia — known as number dyslexia

There are manageable steps we can all take to conquer number phobia.

How people are reacting to free national park entry this summer, thanks to Canada Strong Pass

Mark Carney's government has introduced the Canada Strong Pass, which makes it free for everyone to visit the country’s national parks starting June 20. The goal is to drive more inter-provincial tourism, as Canadians visit bucket-list locations they've been meaning to go to. CBC’s Cody MacKay has that story.

At 65 and set to retire with $357,000 in the bank: How much money can you comfortably spend each year?

The average Canadian retiree household spends roughly $62,000 per year. Based on this, retirees are wondering: Have I saved enough?

Where Wealth Lives: These 10 Countries Have the World’s Highest GDP per Capita

Where Wealth Lives: These 10 Countries Have the World’s Highest GDP per Capita

15 Affordable Old Money Brands for Timeless Stealth Wealth Style

Good news: you don’t need a trust fund to look rakish, refined—and rich as hell. We’ve rounded up the best old money brands for sophisticated style.

Here are 7 ‘bad assets’ that could cause you to retire poor in Canada — how many do you own?

Avoid being trapped by these money drains

Is saving $500,000 in investment income enough for couple to meet their retirement goals?

Kathy,* 50, and Trevor, 53, have two financial goals they want to achieve before Kathy retires at age 55 and Trevor retires at age 60. They want to pay off the mortgage on their primary residence and build up $500,000 in easy-to-access investment income — they are thinking about a laddering strategy for guaranteed investment certificates (GICs) — that will allow them to spend three months out of the year travelling and help their two young adult...

Rio Tinto reaches $138.75 million settlement over Mongolian mine

By Clara Denina and Jonathan Stempel NEW YORK/LONDON (Reuters) -Rio Tinto agreed to pay $138.75 million to settle a lawsuit that accused the Anglo-Australian mining giant of defrauding investors by concealing problems with its $7 billion underground expansion of the Oyu Tolgoi copper and gold mine in Mongolia. A preliminary settlement of the proposed class action was filed late on Wednesday with

Report: How far 100K salary goes in major US cities

A six-figure salary was once considered the benchmark of a comfortable lifestyle but new research suggests it depends exactly where you live.

10 sources of emergency cash, ranked from best to worst

If unanticipated expenses exceed your emergency fund, here’s a look at where to go next.

12 Canadian Cities Where $40k Actually Goes Far

Everything you can afford at different levels of wealth – from mansions to private islands

Meet the world's richest person from every decade since 1820

What did it take to be the richest person in the world in 1820, 1850 or 1900? And how does that compare to today?

The Best $7,000 TFSA Investments for Current Market Conditions

There is no one-size-fits-all answer for where to park your $7,000 TFSA contribution. Aim to match your TFSA strategy to your risk profile. The post The Best $7,000 TFSA Investments for Current Market Conditions appeared first on The Motley Fool Canada.

Where to Invest $5,000 in the TSX Today

Don't know where to put a $5,000 investment? Consider essential stocks like this one. The post Where to Invest $5,000 in the TSX Today appeared first on The Motley Fool Canada.

Five mortgage myths that simply are not true

Waiting for interest rates to drop further? That strategy can backfire

2 Dividend Stocks to Buy and Hold for Another 20 Years

If you want to create income for decades, invest in essential stocks like these. The post 2 Dividend Stocks to Buy and Hold for Another 20 Years appeared first on The Motley Fool Canada.

Top 8 Cheapest Countries to Live Comfortably on $1,000 a Month

Top 8 Cheapest Countries to Live Comfortably on $1,000 a Month

8 Best Countries for Budget Travel (And 3 That Cost Too Much)

8 Best Countries for Budget Travel (And 3 That Cost Too Much)

‘I save 70 per cent of my income’: People on their secret pension savings

A £1.2m pot is now essential for a comfortable retirement, according to statistics – and few are close. We speak to six people with healthy pensions about how they did it

Swiss cut key interest rate by a quarter percentage point, putting its target now at 0%

GENEVA (AP) — Switzerland's central bank said Thursday it has reduced its target interest rate by a quarter of a percentage point, adding that inflationary pressures have eased.

Should Canadian retirees own or rent their home? Use this simple ‘5x5x5 rule’ to figure it out

Retirement author and YouTube host Geoff Schmidt advises following what he calls the 5x5x5 rule.

I’m 65, tired of working and have very little savings — is it possible to live off CPP alone? Yes, but you'll need to make these 3 big sacrifices

It may be tight, but it is doable

Will the euro overtake the dollar? Lagarde lays out 3 key conditions

The dollar remains the world's primary reserve currency. For the euro to take over that role, three key conditions must be met, says European Central Bank (ECB) President Christine Lagarde at a conference in Kyiv. Lagarde noted that currently, the euro accounts for about 20% of global central bank reserves. "It is the second-largest reserve currenc...

8 people who made millions from a single investment

From Jeff Bezos's parents to the co-founder of Red Bull, these people made unlikely investments that made them staggeringly rich.

Why the Clean Energy Boom Might Be Fueling Inequality

Why the Clean Energy Boom Might Be Fueling Inequality

Top 9 Countries Where You Can Still Travel for Under $30 a Day

Top 9 Countries Where You Can Still Travel for Under $30 a Day

5 Places With the Lowest Taxes — and 3 Where Citizens Pay the Most

5 Places With the Lowest Taxes — and 3 Where Citizens Pay the Most

3 Smart Ways to Invest $5,000 for the Long Haul

Investors have three smart ways to substantially grow $5,000 in capital over a longer holding period. The post 3 Smart Ways to Invest $5,000 for the Long Haul appeared first on The Motley Fool Canada.

How much you should have in savings - and how your bank balance compares to the average Australian

Here's what the typical Aussie has in savings during a cost-of-living crisis.

4 ways to strengthen your finances

(NC) When it comes to your money, there’s no one-size-fits-all approach. But with a strategy in place you can reduce financial stress, align your goals, and plan for a brighter future. Here are four ways to help strengthen your finances and make your money work for you. Set a goal. Before you dive into budgeting […] The post 4 ways to strengthen your finances appeared first on For Your Life.

Struggling with money? Here are 5 tips for growing your income from a financial expert

Personal finance can often feel overwhelming, with many Millennial and Gen Z individuals struggling with student loans, the high cost of living, housing market challenges and a general sense of financial anxiety. But just as any challenge can be overcome through skill development and persistence, so can your finances. Whether you are just starting or looking to advance your financial skills, there are steps you can take to improve your financial...

15 Frugal Habits I Have Always Had

I didn't wake up one day and decide to be frugal. It just kind of happened as I started paying attention to where my money was actually going. A lot of times, the little things made the biggest difference. None of these habits feel like a huge sacrifice either-they just make life simpler and a lot less stressful. Here are 15 frugal habits that are part of my life now, and I'm not planning to quit them anytime soon. Featured Image Credit: sundikova /Depositphotos.com.

11 Global Cities Where a $200k Salary Still Isn’t Enough

Winner of 250 million euro EuroMillions jackpot has made contact

The Irish winner of the EuroMillions jackpot has contacted The National Lottery, a spokeswoman has confirmed. The winning 250 million euro ticket was sold in a retail outlet in Co Cork. It is the 18th Irish winner and the largest ever Irish win of the EuroMillions jackpot. The winning numbers from Tuesday’s draw were 13, 22, 23, 44 and 49, with luc...

My business costs rose by £48k thanks to NI and wage hikes – I’ve had to cut staff

Collette Osborne, who owns two hair salons in Nottingham, used to have 38 staff members

10 Reasons To Turn Your Property Into An Airbnb & 10 Ways To Do It

Your property could be earning while you sleep. Short-term rentals offer good side income and unexpected perks, and when it comes to Airbnb, no fancy real estate is needed. Smarter hosting means bigger rewards. So here, we explore 10 reasons to turn your property into an Airbnb—and 10 ways to achieve that.

Does Canada need to boost defence spending to five per cent of GDP?

Defense spending, trade, and how the clock is ticking on a promise Prime Minister Mark Carney made, Cynthia Mulligan dives into the latest headlines from Parliament Hill during CityTalks, with Amanda Galbraith and Sharon Kaur.