Is Your Money Safe If Your Bank Fails?
Bank failures are kind of like hurricanes. When the weather’s nice and people are out barbecuing, they’re the last thing on your mind. But when one appears out of nowhere and starts bearing down on your neighbourhood, the ones who prepared for it are the ones that turn out OK while everyone else will get their homes destroyed. Well, with the recent failure of Silicon Valley Bank, followed by First Republic and Credit Suisse teetering on the edge of disaster, hurricane season is now upon us. How prepared will you be if your bank suddenly fails? Fortunately, being prepared for […]
Silicon Valley Bank Just Failed – Are We All Screwed?
After a relatively mild start to 2023, it was starting to seem that all the talking heads predictions of an imminent recession were way overblown. Until Friday, that is. That’s when this happened. Silicon Valley Bank collapsed Friday morning after a stunning 48 hours in which a bank run and a capital crisis led to the second-largest failure of a financial institution in US history. California regulators closed down the tech lender and put it under the control of the US Federal Deposit Insurance Corporation. The FDIC is acting as a receiver, which typically means it will liquidate the bank’s assets to […]
Let’s Go Exploring! Slovenia: Switzerland without the Lavish Price Tag
Long term readers of this blog know that ever since we quit our jobs to travel the world in 2015, we’ve been playing this game we like to call “Schengen Bingo”. For those that don’t know, Schengen is the area in Europe consisting of 27 countries without internal border controls. Travellers can freely move through this area without border checks between the countries. With our Canadian passport, we can only stay in the Schengen zone for maximum 90 days. During our 9 to 5 days, we only had 3 weeks’ vacation so 90 days was an eternity but when you’re […]
Crypto Staking: Passive Income Generator or Scam?
You’d think that after Bitcoin’s stunning fall from grace, plummeting from $50,000 USD per BTC all the way down to $16,000 USD at the beginning of the year, we’d stop getting questions about cryptocurrencies. But as the price of BTC has recovered somewhat ($23,884 USD right now), interest is starting to return to the beleaguered crypto space. And with it, the questions. I’ve been reading about crypto staking, and apparently I can make 10%+ in interest just by holding my money in crypto, like a savings account! Why would I invest when I can make this much guaranteed? Anonymous reader […]
Reader Case: Entrepeneurs Closer to Early Retirement Than They Thought
Hey peeps, before we get started with today’s reader case, I want to invite you to a Facebook live event where we talk about Passiv, one of our favourite investing tools. We’ll chat about our FIRE lifestyle, our approach to investing, and how you can use Passiv to help you reach Financial Independence. As you know, we never recommend any products we don’t love and use ourselves, so we want to tell as many people as possible about Passiv to help make investing easier for them. The session is on March 15, 2023 8pm EST and here’s the Facebook event […]