Ever wonder what happens to the money in people’s bank accounts after they move out of town, die, or switch banks? Well the funds eventually go to the government 🙂 If a bank account becomes dormant for 10 years and the bank has already made 3 attempts to contact the owner but failed, then the unclaimed money is… Read More »
Many parents make the common mistake of leaving their children with way too much inheritance all at once. Many children will spend their inheritance unwisely because they haven’t learned how to handle such a large windfall. What parents should do instead is pass down the inheritance gradually throughout the later years of their lives to minimize taxation, and… Read More »
Some people have a fear of losing money. This prevents them from taking the necessary risk with their investments, like buying stocks, to give the best probability of a long term return. The S&P500 returned 20% over the last 12 months, so anyone who holds American stocks like me have probably done well with their net worth over… Read More »
How to Turn Existing Savings into Passive Income Many people look at their savings as money they can spend in the future. But I like to think of my savings as a perpetual generator of income instead. The difference is once you spend money in the future it’s gone. But if you have a machine that brings you a… Read More »
According to brand consulting company Interbrand, Apple has overtaken Coke as the world’s number 1 brand last year 😀 Second place goes to Google! For more than a decade Coke has always been on top. No matter where you go in the world people will recognize the smooth taste of Coca Cola, but this time it has fallen… Read More »
I hope the Canada Revenue Agency doesn’t come after me for writing this post 😛 If too many people read this article then our government will never have a balanced budget lol. Since it’s that time of year again the topic I’d like to discuss today is income tax, and how rich people are able to dramatically reduce… Read More »