Good morning. Today we're diving into retirement reality checks, a wealth-building habit even skeptics can get behind, and a cautionary tale every car buyer in Canada needs to hear.
On The Money Today:
Kevin O'Leary's one habit that could grow your wealth to 10x your salary
She thought she was buying a warranty. She got a loan instead.
Are you near the top or bottom of Canada's retirement wealth pyramid?
Let's get into it.
MANAGING MONEY
Most financial gurus tell you to hustle harder to build wealth. Kevin O’Leary says the opposite.
The Dragon’s Den star believes real wealth comes from saving consistently and letting compounding do the heavy lifting — a strategy he learned from his mother, who quietly built a sizeable portfolio using “boring” blue-chip funds. O’Leary says anyone can follow the same playbook — here’s how it works.
SPONSORED BY Loans Canada
Credit card balances in Canada rose 9% last year, and compounding interest can keep borrowers stuck paying far more than they expected. Making minimum payments across multiple cards often stretches debt out for years.
One option is consolidating balances into a single lower-rate loan. Loans Canada lets you compare offers from multiple lenders and see personalized loan options in minutes — with no minimum credit score required.
AUTO LOANS
When a LendCare sales rep called Denaia Taylor to offer warranty coverage for her car, she said yes. What she didn't know was that the warranty came with a separate $3,372 loan at 14.9% interest — and she's not alone. Five former LendCare employees allege the practice was routine. Here's what happened, whether it's legal, and how to protect yourself before you sign anything.
FEATURED
Most Canadians say they'll need $1.7 million to retire comfortably — yet more than 1 in 3 don't think they'll ever get there. The gap between aspiration and reality is wider than you think.
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REAL ESTATE: One couple took on their own home construction project and walked away with a finished home at half the cost. Here's how they pulled it off — and when DIY can go seriously wrong
NEWS: Dreaming of a quieter life in Ontario? The reality comes with some surprising trade-offs — including why Costco might be non-negotiable
POLL
With US tariffs hitting Canadian goods, how are you adjusting your spending?
That’s it for today. See you soon with another quick roundup of the financial news that matters.