Good morning. Some of the biggest financial moves affecting Canadians right now aren't being made by Canadians. That's worth sitting with for a moment.
On The Money Today:
The former Google CFO who left Canada now wants you to pay $500K to do the same
Suze Orman says stop obsessing over your retirement number and make these small moves a habit
Gas is up nearly 50% — but is that actually bad news for Canada?
Let's get into it.
Patrick Pichette used a $30 TN visa to cross the border and eventually became CFO of Google — building a net worth of roughly US$269 million. Now living in London, he's proposing that the next generation of Canadian graduates pay $500,000 to make that same move. Critics aren't letting the irony slide.
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Nearly 6 in 10 Canadians fear they'll outlive their savings — and for those closest to retirement, that fear is especially acute. Meanwhile, 36% of Canadians have less than $5,000 saved, against an average retirement target of $1.42 million. Financial expert Suze Orman has a response to that anxiety — and it's not the tough-love approach you'd expect from her.
The war in Iran sent gas prices soaring from $1.28 to nearly $1.91 a litre in just over a month — and Vancouver is paying as high as $2.18. But Canada is also one of the world's major oil producers, which means higher prices cut both ways. Alberta collects more royalty revenue, Canadian energy stocks have climbed sharply, and top economists say the longer this goes on, the better it may be for Canada's economy. The article breaks down both sides — and what you can do to protect your budget either way.
ALSO MAKING THE ROUNDS TODAY
CREDIT CARDS: 1.4 million Canadians missed a credit card payment last year — here's how to find out if you can still qualify for a balance transfer card
AUTO: If you bought a car between 1998 and 2017, you may be owed a share of a $50 million price-fixing settlement
DEBT: She won't inherit a cent of her husband's trust fund — and The Ramsey Show says asking their daughter for a cut 'feels gross’
ECONOMY: Ray Dalio, founder of the world's largest hedge fund, says whoever controls the Strait of Hormuz wins — here's what that means for your wallet
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