In this Morningstar market brief, it is revealed that the average self-directed Vanguard investor (7 million accounts!) held an asset allocation of 65% stocks, 24% cash, and 10% bonds. That’s a lot more cash than I expected as well. Then this WSJ article comes up, Wealth Management Has a $3 Trillion Problem: Investors Are Keeping Too Much Cash (gift article). A self-directed investor and former pilot is profiled that keeps 85% in stocks and 15% […]

Have you considered setting up income-producing assets to boost your earnings? Here’s a list of ideas that you can try. Many turn to income-producing assets since our options to earn are limited. It is fortunate if you prefer to have a financial safety net, running a business or two while maintaining a day job. But, if you’re not, do not worry. Income-producing assets can sound like a complicated mouthful of words, but it’s basically assets […]

All retirees and near retirees need to run the numbers. They need to create an optimized retirement cash flow plan. A cash flow plan will show you the optimal time to take CPP and OAS, and then how to create income from your RRSP/ RRIF/LIFs, TFSAs, Taxable accounts, pensions and other sources of income. You’ll discover the most durable and tax-efficient approach for your retirement. A successful retirement cash flow plan often ‘finds’ tens to […]

Retirement is supposed to feel like the reward at the end of decades of work, but for a lot of people it comes with a quieter, less exciting reality: a fixed income that doesn’t stretch the way a paycheck used to. If you’re staring down a budget that suddenly has to cover everything with no more raises coming, you’re not alone, and you’re definitely not doing anything wrong. This isn’t about deprivation. It’s about being honest with yourself about where your money is going so you can keep more of it for the things that actually matter to you. Here are 12 expenses worth a second look if you’re living on retirement income. Related: A Retirement Checklist for the Final Year of Work Related: Five Frugal Living Tips To Help Retirees Have a Comfortable Retirement Related: Choosing the Best Retirement Accounts Subscriptions You Forgot You Had Streaming services, magazine subscriptions, meal kit boxes, apps that renew automatically once a year. Pull up your last three bank statements and circle every recurring charge. Most people find at least one or two they haven’t used in months. Cable TV If you’re still paying for a full cable package, you’re likely paying for hundreds of channels you never watch. A single streaming service or two, or even a free antenna for local channels, can cover the shows you actually care about for a fraction of the cost. Bank Fees Monthly maintenance fees, overdraft charges, ATM fees from using the wrong machine. These add up quietly over a year. Many credit unions and online banks offer no-fee checking accounts built specifically with retirees in mind. A Second Car If you and a spouse are both retired and no longer commuting separately, ask whether you really need two vehicles. Insurance, registration, maintenance, and gas on a car that mostly sits in the driveway can be a meaningful monthly drain. Full-Price Prescriptions Ask your pharmacist about generic alternatives, and look into prescription discount programs or mail-order options through your insurance. The price difference between brand name and generic can be significant, especially for medications you take long term. Premium Cable and Phone Bundles Similar to cable, check whether you’re paying for a bundled phone plan with more data or minutes than you use. Many providers now offer senior-specific plans at a lower rate. Dining Out Out of Habit Eating out occasionally is a normal part of enjoying retirement, but if it’s become a daily default rather than something you plan for, it’s worth tracking for a month to see the real total. Cooking at home a few more nights a week doesn’t mean giving up the meals you love. Extended Warranties Retailers push these hard at checkout, but most major appliances and

As an ETF investor, what do you value more: risk or returns? Your investment priorities will determine which fund you favor in a DGRO vs. SCHD toss-up. This article compares DGRO and SCHD, two exchange-traded funds (ETFs) that can be great additions to your investment portfolio. These two ETFs can be a viable source of passive and steady income as they attempt to replicate the market investment returns of the dependable indexes. As a long-term […]

EDITOR’S NOTE: As the student loan landscape changes, half or more of a student’s loans might need to be private loans. WCI can help and start you down the road to financial literacy at the same time. If you use a WCI-recommended private student loan partner to secure your private loans, you’ll get cash back AND the student version of our signature course, Fire Your Financial Advisor. Check out our student loan providers, and get […]

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Gift cards can be great gifts, but only when they’re for stores or restaurants you actually use. We’ve probably all received a gift card that ended up sitting in a drawer because we had no plans to use it. Instead of letting an unwanted gift card collect dust, you may be able to…

If you’ve searched some version of “does passive income actually exist,” you’re not being naive. You’re being appropriately skeptical. Someone I had just met said it more bluntly at a friend’s house recently. He told me flat out he didn’t believe passive income exists. His reasoning: “It’s a fantasy. The idea that you can do nothing and get paid.” He’s not wrong about the thing he’s describing. He’s just describing the wrong thing. This distinction […]

Every month since 2017, I have written an article that shows the growth of our passive income. Over the last couple of years, I’ve added some of my annual goals (New Year’s Resolutions). This is usually where I add some personal stuff. My wife was on work travel for two weeks, so my time was focused on being able to get the kids to camps, karate, etc. while managing the busiest month of dog boarding […]

Here’s my monthly survey of the best interest rates on cash as of August 2026, roughly sorted from shortest to longest maturities. Banks and brokerages love taking advantage of idle cash, and you can often earn more interest while keeping the same level of safety by moving to another FDIC-insured bank or NCUA-insured credit union. Check out my Ultimate Rate-Chaser Calculator to see how much extra interest you could earn from switching. Rates listed are […]

I don’t know about you but I breathed a sigh of relief when the cash-like asset rules for stocks and shares ISAs were announced. They were nowhere near as bad as I feared. Money market funds (MMFs) are the only investment HMRC has defined as a cash-like asset. .memberful-global-teaser-content p:last-child{ -webkit-mask-image: linear-gradient(180deg, #000 0%, transparent); mask-image: linear-gradient(180deg, #000 0%, transparent); } This article can be read by selected Monevator members. Please see our membership plans […]

This one is a doozy. As you may have heard, Telus cut their dividend by about 55%. This was a big one for the portfolio and my annual dividend income dropped by about $1200. It will take quite a lot more money invested to make … Read moreJuly 2026 Dividend Income Update The post July 2026 Dividend Income Update appeared first on Genymoney.ca.